This post is about why you need to buy Ripple XRP in the future. Reason and fact for this.
As Bitcoin’s price and value are shooting for the moon, it is getting out of reach for investors who want to get a higher ROI. A complex task for Cryptocurrency enthusiasts and crypto investors is to hunt for the next Bitcoin for the year ahead. The ripple coin sits at the top of the hierarchy for the concern.
Let me make a clear distinction between Ripple and XRP (commonly referred to as Ripple coin)
There is a lot of confusion about both these terms in the cryptocurrency community
Ripple is a software company that provides a real-time gross settlement system for global payments. Ripple network is the payment network system offered by Ripple.
On the other hand, XRP (also commonly referred to as Ripple XRP, Ripple XRP coin, and Ripple coin) is the native cryptocurrency launched by Ripple labs and works on the Ripple payment network.
XRP is not mined like other cryptocurrencies such as Bitcoin crypto, Ethereum crypto, Litecoin currency, etc. Instead, it was issued at its inception, similarly to when a company issues stocks when it incorporates. There are 100 Billion XRP available for supply over which 60 Billion XRP holds by the Ripple company.
Note – When we refer to Ripple, Ripple XRP, Ripple XRP coin, and Ripple coin in the article it technically means XRP token
Over the last year, Ripple is up a staggering 3827% surpassing Bitcoin in the overall growth of a single cryptocurrency in the complete Year i.e. 2017 and set new benchmarks for other altcoins (altcoins are cryptocurrencies other than Bitcoin).
Source — Bitcoinexchangestore
As you can see above, the price of the Ripple XRP coin as shown in the above chart increased dramatically in the last few weeks of 2017. The average daily trading volume of Ripple tripled and it surpassed Ethereum in overall market cap and once ranked second after Bitcoin. The latest stats of ripple are shown below.
Ripple XRP coin is the most likely candidate to take bitcoin’s crown in the next 2 to 5 years.
I have written a specific article explaining ripple coin, and how Ripple coin has the potential to make new crypto millionaires
Now, the Ripple network is busy revolutionizing the way we transfer money and receive payments. Soon, it will change the way we bank and conduct business around the globe. Reasons to buy Ripple XRP coin for the future.
Over the course of this post, I will highlight and explain the top 3 reasons to buy Ripple XRP coin in the future. Ripple coin provides a second opportunity to those who didn’t grab bitcoin when it was less than 500$.
3 Top compelling reasons to buy Ripple xRP coin for future
1. “Advanced Technology“- reasons to buy Ripple XRP coin for the future.
Ripple XRP network is a global payment processing system. It was specifically designed to be able to change or throw away current cross-border money transfers serving banks ever since 1973 i.e.the SWIFT system.
SWIFT is an entity with a monopoly on border transfers. For example, say if you have sent money abroad, you have used a SWIFT service. It has two major flaws
- Firstly, a transfer with SWIFT between two countries can take from 3 to 5 days.
- Secondly, the costs of these transfers, are not negligible, especially if we are talking about transfers of a large sum of money i.e. thousands of dollars. On average a typical remittance transaction costs $5.
Ripple network is a third-generation blockchain technology It is the latest Blockchain technology that is in use, only IOTA uses a higher blockchain technology than the Ripple XRP coin. For example, Bitcoin works on first-generation blockchain technology.
Ripple network is bringing to the table a consensus-based ledger protocol that can exchange currency in real time. The Ripple network can process 1500 transactions per second, which is huge as compared to the Bitcoin network and Ethereum network as it can handle up to 7 transactions per second, and the Ethereum network handles 15 transactions per second. Reasons to buy Ripple XRP coin for the future.
VISA can handle up to 2000 transactions per second. Indeed, VISA can handle more, about 2,000 transactions per second, but the Ripple XRP coin uses blockchain technology which makes it more secure than the current global money transfer system. The transaction takes 4 seconds at the Ripple network. In contrast, an Ethereum transfer is completed in about 3 minutes and at the Bitcoin network in 10 to 30 minutes. Mastercard and Nexo have announced the launch of the world’s first “crypto-backed” payment card.
You can see that the Ripple XRP coin uses far superior blockchain technology than the other two main cryptocurrencies i.e. Bitcoin currency and Ethereum currency. The institutions using the Ripple network will reduce the cost of transfers by 30%. If institutions use the Ripple network and the ripple XRP currency then the transfer cost will decrease by 60%.
Comparison of the Ripple payment network over the existing global payment transfer system.
Major drawbacks of the current global payment system
- Slow — take 3–5 days in the transfer
- Unreliable — High transaction failure rate
- Nonuser-friendly — the system doesn’t provide a seamless experience to users
- Expensive — 1.6 trillion USD annual fees
Ripple network solutions to major drawbacks of the current global payment system
- Fast — Instant, on-demand settlement
- Reliable — Real-time traceability of funds
- User-friendly platform — Ripple network connects banks, payment providers, digital asset exchanges, and corporates via RippleNet to provide one frictionless experience to send money globally.
- Cost-effective — Low operational and liquidity costs
- Scalable — Transactions are scalable
- Secure — Advanced blockchain technology made the transaction more secure”
“So comparatively advanced blockchain technology is one of the top compelling reasons to buy ripple XRP coin for future”
2. Low price higher return on investment(ROI) –reasons to buy Ripple XRP coin for future.
The low price of Ripple XRPis another top compelling reason to buy Ripple XRP coin for the future. Although the Ripple XRP market cap has increased significantly, the Ripple XRP coin price remains relatively low among the top 5 fastest growing cryptocurrencies. This means that this currency will make significant progress in the coming years.
There are several reasons why the Ripple coin has remained cheap. First of all, Bitcoin and Ethereum benefit from the majority of the attention from the big investors as well as from small investors and this is the major reason for their huge price tag. One of the major reasons to buy Ripple XRP coin for future.
The price of the Ripple XRP coin is hovering around $0.44 currently. This offers a great opportunity for small-scale investors to buy Ripple XRP coin for the future as it is affordable. It is assumed the Ripple XRP coin price will hit a minimum of $5 at the end of 2025, it will translate to a staggering return of 1000% for any investor who buys Ripple XRP coin at its current price. What is the Ripple network? – Ripple coin price prediction by 2025
Other major altcoins which are currently trading high most probably won’t compete with the XRP token in overall return on investment but there are a few promising cryptocurrencies that can yield high ROI in the coming few years
3. Acceptance by Banks and Financial Institutions- reasons to buy Ripple XRP coin for the future.
More than 550 banks and financial institutions have adopted the Ripple XRP network as the payment system and there is more than 550 financial institution which is testing the Ripple network system or is in process of adopting it by the end of 2021. USB, JP Morgan, Standard Chartered, and HSBC are among a few of them to buy Ripple XRP coins for the future. Read Powerful Guide to Understanding the Difference Between Tokens and Coins in Cryptocurrency.
A major announcement was made during Coindesk’s Consensus conference last year. Michael Arrington, the founder of one of the most internet’s successful startups, TechCrunch, launched a Ripple hedge fund that would become the first to be denominated in a cryptocurrency.
To no one surprise, the currency Arrington settled on was Ripple. This just goes to show the potential and promise of cryptocurrency.
Speed is the major hindrance for major cryptocurrency networks i.e. Bitcoin, Ethereum coin, and other altcoins. Ripple payment network beat hands-down other cryptocurrencies in the transfer speed and the number of transactions that can be processed in a second.
Bitcoin currency takes 10 to 30 minutes to complete a transaction and the Ethereum platform takes about 15 minutes whereas the Ripple platform takes a mere 3 seconds to complete a transaction.
The ripple payment network can process up to 1500 transactions in a second. Compare this to a dismal 7 transactions per second on Bitcoin and 15 on Ethereum and you instantly know that ripple has a huge advantage. This makes the Ripple payment network a suitable network for everyday transactions which need to be fast and convenient.
Technologically advanced nations like South Korea and Japan have shown greater craze in the platform as South Korea accounted for more than 50% of total platform transactions.
But it is not Asian giants that are showing interest there are many European countries that are testing this platform and almost all major U.S. exchanges are planning to use Ripple XRP coin as a tradable asset.
This is going to trigger a chain reaction among major cryptocurrency exchanges and the demand is expected to surge and early adopters can make huge profits in the future. In late December last year, American Express and Santander bank, Spain’s largest bank, settled on RippleNet, Ripple’s enterprise blockchain network, for cross-border payments between the United Kingdom and the United States.
Probably the world’s renowned bitcoin exchange Coinbase lists Ripple coin as a tradable asset by late 2018. This acceptance of the Ripple XRP network by the financial institution gives a strong statement for investors to buy Ripple XRP coin for future
Ripple XRP coin has long proven its potential for long-term investment gaining more than 4000% in value last year alone replacing Bitcoin in the overall annual growth of a cryptocurrency in 2017.
Conclusion reasons to buy Ripple XRP coin for future.
The three above-described factors do give investors more than enough compelling reasons to buy ripple XRP coin for the future who lost the opportunity to buy Bitcoin when it was cheap.
Best ways to buy Ripple XRP coin for future
There are multiple ways to buy ripple coins. I have listed them one by one below
1. Buy Ripple xRP coin for the future using a credit & debit card
There are few trusted cryptocurrency exchanges that allow buying ripple XRPcoin in future with the credit & debit cards. These are
2. buy Ripple XRP coin for future with the PayPal
3. buy Ripple XRP coin for the future with the Bank wire transfer
- Cex.io exchange
- Coinmama exchange
4. Buy ripple XRP coin for future with the cash
- Coinmama exchange
5. Buy ripple XRP coin for the future with the Bitcoin
There are many cryptocurrency exchanges where you can exchange Bitcoin for Ripple but the best of the lot is
Note – Always store your Ripple XRP coin in a hardware wallet never leave them on an online exchange. You can read and buy hardware wallets from the following article