Last Updated on October 8, 2021 by TARUN CHAUHAN
The article “3 top reasons to buy Ripple xrp coin for future 2020”, or in simple words why one should invest in Ripple coin? and how it is different than other cryptocurrencies.
As Bitcoin price and value is shooting for the moon, it is getting out of reach for investors who want to get higher ROI. A complex task for Cryptocurrency enthusiast and crypto investors is to hunt for next Bitcoin for the year ahead. Ripple coin sits at the top of the hierarchy for the concern.
Let me make a clear distinction between Ripple and XRP (commonly referred as Ripple coin)
There is a lot of confusion about both these terms in cryptocurrency community
Ripple is a software company which provides a real-time gross settlement system for global payments. Ripple network is the payment network system offered by the Ripple.
On the other hand, XRP (also commonly referred 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, and Litecoin currency etc. Instead, it was issued at its inception, similarly 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 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 Ripple xrp coin as shown in 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. Latest stats of ripple are shown below.
Ripple xrp coin is a most likely candidate to take bitcoin’s crown in next 2 to 5 years.
I have written a specific article explaining ripple coin, and how Ripple coin has potential to make new crypto millionaires
Now, 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.
Over the course of this post, I will highlight and explain the top 3 reasons to buy Ripple xrp coin for 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“-
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 SWIFTservice. 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, which are not negligible, especially if we are talking about transfers of the 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 latest Blockchain technology which is in use, only IOTA use a higher blockchain technology than Ripple xrp coin. For example, Bitcoin works on first-generation blockchain technology.
Ripple network is bringing to the table is a consensus-based ledger protocol that can exchange currency in real-time. 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 Ethereum network handle 15 transactions per second.
VISA can handle up to 2000 transactions per second. Indeed, VISA can handle more, about 2,000 transactions per second, but as Ripple xrp coin uses blockchain technology which makes it more secure than 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 10 to 30 minutes.
You can see that 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%.
Ripple payment network advantages over 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 — System doesn’t provide a seamless experience to users
- Expensive — 1.6 trillion USD annual fees
Ripple network solutions to major drawbacks of 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 — Advance blockchain technology made the transaction more secure”
“So comparatively advance blockchain technology is one of the top compelling reasons to buy ripple xrp coin for future”
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2. Low price higher return on investment(ROI) –
The low price of Ripple xrp is another top compelling reason to buy Ripple xrp coin for the future. Although Ripple XRP market cap has increased significantly, Ripple XRP coin price remains relatively low among top 5 fastest growing cryptocurrencies. This means that this currency will make a significant progress in the coming Years.
There are several reasons why 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.
The price of Ripple xrp coin is hovering around $0.4 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 2020, it will translate to a staggering return of 1000% on any investor who buys Ripple XRP coin at its current price.
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 few promising cryptocurrencies which can yield high ROI in the coming few years
3. Acceptance by Banks and Financial Institutions
More than 500 banks and financial institutions have adopted Ripple xrp network as the payment system and there is more than 500 financial institution which is testing Ripple network system or is in process of adopting it by the end of 2018. USB, JP Morgan, Standard Chartered, HSBC are among few of them.
A major announcement was made during Coindesk’s Consensus conference last year. Michael Arrington, the founder of one of the most internet’s successful startup, TechCrunch, launched a Ripple hedge fund that would become the first to be denominated in a cryptocurrency.
For no one surprise, the currency Arrington settled on was Ripple. This just goes to show the potential and promise of the cryptocurrency.
Speed is the major hindrance for major cryptocurrencies 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 can be processed in a second.
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Bitcoin currency takes 10 to 30 minutes to complete a transaction and Ethereum platform takes about 15 minutes whereas Ripple platform takes a mere 3 seconds to complete a transaction.
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.
The technologically advanced nation like South Korea and Japan has shown greater craze in the platform as South Korea accounted for more than 50% of total platform transaction.
But it is not Asian giants that are showing interest there are many European countries 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.
Most probably worlds renowned bitcoin exchange Coinbase lists Ripple coin as the tradable asset by late-2018. This acceptance of 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.
Three above described factors do give investors more than enough compelling reasons to buy ripple xrp coin for future who lost the opportunity to buy Bitcoin when it was cheap.
How Ripple is explained by Ripple.com
Best ways to buy Ripple xrp coin for future
There are multiple ways to buy ripple coin. I have listed them one by one below
1. Buy Ripple xrp coin for future using the credit & debit card
There are few trusted cryptocurrency exchange which allows buying ripple xrp coin for future with the credit & debit card. These are –
- coinmama exchange
- cex.io exchange
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2. Buy Ripple xrp coin with the PayPal
3. Buy Ripple xrp coin for future with the Bank wire transfer
- Cex.io exchange
- Coinmama exchange
4. Buy ripple xrp coin with the cash
- coinmama exchange
5. Buy ripple xrp coin with the Bitcoin
There are many cryptocurrency exchanges where you can exchange Bitcoin for Ripple but 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 wallet from the following article
3 best cryptocurrency hardware wallet – Trezor vs ledger vs keepkey
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