Today, there is no doubt about the popularity of cryptocurrencies, as well as their financial prospects. With the help of digital money, many investors managed to make large sums, and some – the entire fortune. Cryptocurrencies differ not only by name – there are differences in the original idea underlying each cryptocurrency. Ripple received the nickname “white crow” thanks to the unusual technologies lying in its foundation. This is what made it so popular among investors, especially institutional ones.
One of the most promising cryptocurrencies, Ripple, currently ranks third the list of the most popular being after Ethereum and Bitcoin. Ripple has a capitalization of $11 bln, which proves that the users of the network trust the Ripple cryptocurrency today, consider it promising and reliable.
Want to join the rows of XRP owners? Let’s find out how, where and when to buy Ripple’s XRP.
History of Ripple
Ripple project was created by Jed McCaleb who stands behind eDonkey platform. By 2013, the OpenCoin project was finally completed. The global network was able to get acquainted with the global cryptocurrency exchange, with the possibilities of exchange, input, withdrawal, as well as with a new coin. Further, the McCaleb decided to transfer his creation into the hands of Ripple Labs, which took up the active development and promotion of the new information coin. After the official renaming of new money to Ripple, the network was able for the first time to get acquainted with the created cryptocurrency in full.
Thus, Ripple was not originally planned as one of the cryptocurrencies, but its creators developed the exchange interface, where it is possible to exchange, enter and withdraw various currencies, as well as buy / sell goods, services, including shares. While working on a promising project, the creators became interested in developing their own cryptocurrency. The result was Ripple.
Features of the Ripple cryptocurrency
Ripple has some outstanding features:
- Ripple program codes are free and available today, so it is developing successfully, the internal coin is called “XRP”.
- Ripple translates as “ripples on the water.” This currency accepts any valuable equivalent.
- It is important to know that the Ripple algorithm is different from the Bitcoin system, so you can count on additional security – protection against hacking.
- Today, the total number of coins in the Ripple system is 100 billion.
- Any member of the Ripple system can create their own exchange office: goods, services or currency. Ripple transactions are made on a contractual basis, so no arbitration is necessary to transfer funds within the system between users only after their consent.
- All transactions of the Ripple system can be made in the opposite direction, which distinguishes Ripple from other cryptocurrencies.
- Exchange commissions are not charged to participants in transactions.
- The history of all transactions of participants is stored on their wallets.
It is impossible to mine this coin directly, therefore it can be obtained in two ways: by exchange or by participating in the calculation process. These calculations are not mathematical, but useful for science and medicine. Capacity rental fees are paid by Ripple. Some participants choose pools and farms – this is acceptable.
What is the basis of the Ripple system?
The principle of operation of Ripple is similar to real exchange transactions on a contractual basis without any commissions and markups. For example, you are in point A, but you need to transfer money to point B, and you cannot go in person and deliver the funds to the destination, and this is not profitable for you. How to transfer funds?
You can send them by bank transfer, to a card or find a person who will need those funds. You transfer money to this person in your city in the point B, and he transfers the same amount to the destination.
The Ripple system has its advantages:
- the physical movement of funds does not occur;
- there is no risk of losing money or their theft;
- complete anonymity, which means you do not need to fill out declarations.
For Ripple cryptocurrency, you can take a variety of products as a valuable equivalent to cash.
So, how to buy XRP?
You should start by choosing a Ripple wallet. The most highly recommended solutions include:
- Ledger Nano S
- Edge Wallet
You can buy Ripple for absolutely any amount (but note that some exchanges have a minimum deposit – it may be $10, $50, or higher).
Now when you have created a wallet you need to find where to buy XRP. There are several options available.
Instant online exchanges
If you want to buy XRP instantly, the easiest way is to use online exchanges. Which platform to select?
- You can invest in XRP by buying it for Visa / MasterCard via Indacoin – a popular international exchange. It accepts USD and is available in different languages.
- Want to purchase XRP for cryptocurrencies? Use MoneyPolo and Swift, or try the AlfaCashier exchanger.
- Before you invest in Ripple using a certain exchange, look at the exchange rate and conditions.
Please, note that fees in online exchangers that support fiat are higher by about 1-1.5% than on cryptocurrency exchanges. However, the main advantage of purchase for USD is that it is very simple and great for newbies.
If you want to buy and store XRP in one place, choose cryptocurrency trading platforms. There are services that monitor all exchanges and display a list with the current rate for each cryptocurrency.
List of reliable exchanges where you can buy and invest into Ripple:
- Binance is the best exchange for altcoins with low commissions and large volumes. XRP is traded here for BTC, BNB, ETH, PAX, TUSD, USDC and USDT.
- CEX.IO is a proven and reliable cryptocurrency exchange with moderate fees. A great advantage is the ability to replenish the exchange account using Visa / MasterCard and withdraw funds to the card. You can purchase XRP for USD, EUR, and BTC.
- EXMO – here you can buy Ripple for various fiat currencies. The exchange is convenient to use due to a large number of language versions.
As you can see, the list of exchanges is not so big, but with the popularization of Ripple it will be much easier to buy this cryptocurrency.
When to invest in XRP?
The answer is NOW. The cryptocurrency market is going through the downtrend, and XRP price is prone to bearish periods as no other coin. During the last months, Ripple has been staying in the range of $0.24-0.30, and this price is more than agreeable if you want to invest in Ripple today. Yet, it has a very huge potential, and the ROI might grow exponentially in the nearest years. Ripple is a unique cryptocurrency, so will be the benefits it brings!
In the next few years, interest in XRP from large banks may grow significantly, since this cryptocurrency serves as an element of a global network that allows real-time international payments and reduces costs. If the cryptocurrency gets approval from the banking sector, investors will be able to make good money on it. With an ideal development of events, XRP will receive the status of a generally accepted world reserve currency.