Among all the Crypto-currencies in the market, XRP excites most of all the rest. From $ 0.006 in January 2017, this currency rose to $ 3.60 this year. This means a gain of more than 59,000 percent! At the moment, Ripple is one of the most valuable startups in the US market right after Uber’a, Airbnb, WeWork and Palantir. But, like many other currencies, XRP often becomes the subject of speculation, mystery and misunderstanding. Let’s clarify the picture, telling you about ten things that you need to know about XRP.
XRP is the only digital asset developed specifically for financial institutions and payment processors
Most digital assets lack a clear goal. They can be used to store valuables, purchase goods or user transfers, but they were not created with any one clearly stated purpose. In contrast, XRP was created specifically to translate values and create businesses.
XRP is the largest digital asset
XRP is currently the fastest growing and large-scale digital asset. It is an asset that boasts an impeccable five-year history, as well as support from the government. In addition, the XRP chain can handle 1500 operations per second around the clock seven days a week. At the same time, its scale can reach the level of Visa itself.
Ripple acts as a bridge between traditional currencies
Some digital assets seek to displace existing currencies secured by the state (hello, Bitcoin!). XRP, on the contrary, cooperates with conventional currencies in more than ten exchangers in order to help to transfer their value as quickly and efficiently as possible. For example, a Mexican company wishing to pay a Korean supplier right now would need to pay an account in Korea or use a bank. Both options are very slow and expensive. However, in the case of XRP, you can make payment instantly and much cheaper.
XRP provides faster, cheaper and more reliable international payments
XRP offers banks and payment systems a reliable and instant source of liquidity for international payments. To date, international bank transfers take from three to five days, which also includes high commissions and the risk of late payments. As an alternative, entrepreneurs can use correspondent accounts in the country of the payee, however this is also costly and cost-effective. XRP also eliminates all these problems. This is beneficial to the financial authorities themselves, since it will allow the latter to expand their influence on new markets, as well as provide less expensive and faster payments for their customers.
XRP is part of a large network for fast international payments
The Ripple Crypto currency is designed to fix problems with international payments and create Internet values in which money can be exchanged as effectively as we are now exchanging information. Ripple offers a common standard for all payments, thereby building a bridge between unconnected blockers.
XRP grows faster than Bitcoin
Bitcoin can handle up to seven transactions per second, each of which can take more than two hours. Compare this with traditional payment tools like Visa, which – think for a minute – handles an average of 2,000 transactions per second. And the hedgehog is clear that the cue ball does not fit the needs of the average person in the street.
XRP is reliable
XRP Ledger is an open system, over which a team of trusted engineers is working to this day. Thanks to this, the system is reliable and stable.
XRP is more stable than the assets that need to be mined by mining (like Bitcoin, for example)
All the beloved cue ball is a mining digital asset. This means that new coins are constantly created using powerful data centers that solve serious mathematical problems, also called “proof of work”. This all consumes an incredible amount of electricity. XRP, unlike such currencies, does not need to be mined, spending huge amounts of electricity on this business – it has already been created.
XRP is the future
It’s only a matter of time before banks and other financial institutions start using digital assets on a daily basis. The guys behind the development of Ripple are sure that their digital currency will be on horseback, as it has a clear purpose – faster, simpler and cheaper money transfer abroad. And this is a very urgent task in our time.
XRP is easy to purchase
There are many ways how to buy XRP. It all depends on who you are. If you are a financial authority, then it’s best to contact Ripple directly. And if you are an individual entrepreneur, then you have many ways to buy this currency. For example, you can go to any trusted exchanger to do this.