This is not financial advice.!!!
Ripple $XRP is the name of the payment system created by XRP Ledger, and its currency XRP is the cryptocurrency associated with this system. It is an open source virtual payment system that operates with blockchain technology. Its cryptocurrency, simply called XRP, is considered one of the most important on the market, after Bitcoin and Ethereum and other similar cryptocurrencies, due to its market capital.
The Ripple blockchain and the XRP crypto were not created to be the change of the traditional bank system, but were raised with the objective of becoming the bridge between the traditional system and technological innovation.
At this moment Ripple have some alliances:
BBVA
SEB
Akbank
SBI Remit
YES BANK
Start One Credit Union
Cambridge Global Payments
Bank of America
American Express
and many other banks
Why ripple can be considered a good crypto in your portfolio?
Ripple's qualities make it an ideal digital medium for commercial transactions. Below, we will mention some of them:
1- Trust: Trust is an important characteristic that every investor is looking for and this is achieved through the support of great institutions. In this regard, Ripple has achieved alliances and collaboration with globally recognized financial institutions. One of the essential keys for a currency to achieve success is to generate confidence in potential investors, and Ripple has become attractive to financial institutions, thanks to the operational speed with which it works, making it generate immediate liquidity in the market. called Ripple investing. Every day more companies and banks are adopting Ripple, among which we can mention Santander, BBVA, Star One Credit Union, Axis Bank, eZforex, SEB, SBI Remit, Akbank, YES Bank, Cambridge Global Payments. Ripple Net is distinguished by being a payment system designed to operate on banking platforms, which makes it âuniqueâ among cryptocurrencies.
2- Utility: The advanced protocol that Ripple has allows commercial transactions to be carried out in just 4 seconds, surpassing traditional standards, and putting it in the world's top cryptocurrency (XRP, Bitcoin, Ethereum).
3- Low cost in commercial operations: Ripple is recognized for its low cost in commercial transactions, which positions it as one of the favorites in the global financial market. Their commissions are minimal, regardless of whether small or large operations are carried out, this is because Ripple works directly / immediately and can process up to 50,000 transactions per second worldwide. Ripple has shown important results and a reduction in its costs, which are below its competitorsâ.
Differences between Bitcoin and Ripple
Similarities:
Both are open source. That is, they are not owned by any company or individual.
Transactions for both cryptocurrencies can be anonymous and free over the internet
Both are decentralized currencies (without the need for banks or authorizations)
Differences:
Ripple is faster when processing transactions and more efficient than Bitcoin
Bitcoin belongs to a community; Ripple belongs to a private company and its internal accounting book is a closed matter
The total value of all bitcoins in circulation is approximately USD $270 billion, while Ripple is at USD $120 billion
The maximum number of Ripple tokens on the market is 100 billion, and Bitcoin is 21 million
Ripple does not require mining while Bitcoin does.
Ripple is the only cryptocurrency that has been designed to be used by financial institutions
Main difference:
Bitcoin wants to change WITH WHAT we pay; Ripple wants to change HOW we pay.
SEC VS Ripple
The SEC case against Ripple, makes investors be afraid to invest. There are many factors and interests involved. Perhaps the SEC seeks to make investors sell so that the price drops and banking institutions take advantage of this and buy. The future of Ripple cannot be known, but with all that said before, Ripple is a crypto you may have in your portfolio.
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