3 Top compelling reasons to buy Ripple xrp coin for future 2018-20
This post lists 3 top reasons to buy Ripple xrp coin for future 2018- 2020, or in simple words why one should invest in ripple? and how it is different than other top 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. And Ripple coin sits at the top of the hierarchy listed for overall fastest growing cryptocurrency till the year 2020
“XRP” is a ripple token. XRP token is not mined like other cryptocurrencies such as Bitcoin, Ethereum, etc. Instead, it was issued at its inception, similarly when a company issues stocks when it incorporates. There are 100 M XRP available for supply
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 is a most likely candidate to take bitcoin’s crown in next 2 to 5 years. Unlike Bitcoin, Ripple is not a digital cryptocurrency. Ripple is designed to facilitate speedy low-cost interbank payments, especially across international borders. In simple term’s it is a global payment system network which is specifically made for finance institution. There is a total of 100 Million tokens and roughly 60% of those are owned by Ripple Labs, with 35% in circulation.
I have written a specific article explaining ripple coin, and how it has potential to make new crypto millionaires
Now, Ripple 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 provides a second opportunity to those who didn’t grab bitcoin when it was less than 500$.
Top compelling reasons to buy Ripple xrp coin for future
1. “Advanced Technology“-
One of the top compelling reason to buy ripple coin is its advanced blockchain 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 xrp 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 coin. For example, Bitcoin works on first generation blockchain technology.
Ripple is bringing to the table is a consensus-based ledger protocol that can exchange currency in real time. Ripple can process 1500 transactions per second, which is huge as compared to Bitcoin and Ethereum as Bitcoin can handle up to 7 transactions per second and Ethereum 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 uses blockchain technology which makes it more secure than current global money transfer system. The Ripple xrp transfer can be done in 4 seconds. By comparison, an Ethereum transfer is made in about 3 minutes and a Bitcoin transfer in 10 to 30 minutes.
You can see that Ripple xrp uses far superior blockchain technology than the other two main cryptocurrencies i.e. Bitcoin and Ethereum coin. The institutions using the Ripple transfer platform will reduce the cost of transfers by 30%. If institutions use the Ripple platform and the ripple currency, the transfer costs will decrease by 60%.
Ripple advanced blockchain technology 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 solutions to major drawbacks of current global payment system
- Fast — Instant, on-demand settlement
- Reliable — Real-time traceability of funds
- User-friendly platform — Ripple 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”
2. Low price higher return on investment(ROI) –
The low price of Ripple is another top compelling reason to buy Ripple xrp coin for the future. Although Ripple market cap has increased significantly, Ripple coin price remains relatively low among top 5 fastest growing cryptocurrencies. This means that this currency has made a significant progress to be used in the real world, but it still has remained cheap.
There are several reasons why Ripple coin has remained cheap. First of all, BTC and ETH benefit from the majority of the attention of the big investors, but also the attention of small investors and this leads to higher prices. A rumor was about Ripple that it will offer 100 million XRP tokens. This lead to suspicion in large-scale investors, who were afraid that the market could suddenly be invaded by a large number of coins. These fears have removed by Ripple. The company released news that it will escrow only about 55 million XRP tokens.
- TOTAL XRP HELD BY RIPPLE 6,253,951,232
- TOTAL XRP DISTRIBUTED 38,739,142,811*
- TOTAL XRP PLACED IN ESCROW 55,000,000,000
The price of xrp token is hovering around $0.8 currently. This offers a great opportunity for small-scale investors to buy Ripple xrp coin for the future as it is affordable. It is assumed the price will hit 10$ at the end of 2020, it will translate to a staggering return of 1000% on any investor who buys XRP token at its current price. Other altcoins which are currently trading high most probably won’t compete with the XRP token in overall return on investment but there are other promising cryptocurrencies which can yield high ROI in the coming few years
3. Acceptance by Banks and Financial Institutions
More than 100 banks and financial institutions have adopted Ripple xrp network as the payment system and there is more than 100 financial institution which is testing Ripple platform or is in process of adopting it by the end of 2018. USB, JP Morgan, Standard Chartered, HSBC are among some of them.
A major announcement was made during Coindesk’s Consensus conference Michael Arrington, the founder of one of the most internet’s successful startup, TechCrunch, announced a new 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 the cryptocurrency has. For one, the Ripple xrp network is faster than other cryptocurrencies network this makes another top compelling reason to buy Ripple xrp coin for future.
Speed is the major hindrance for top cryptocurrencies like Bitcoin, Ethereum coin, and, other potential Bitcoin alternatives. Ripple payment system beat hands-down other top cryptocurrencies in the transfer speed and the number of transactions can be processed in a second.
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 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 ripple a suitable cryptocurrency 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 as an asset for trade.
This is going to trigger a chain reaction among best bitcoin 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 best bitcoin exchange giant 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 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.
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 –
2. buy Ripple xrp coin for future using the PayPal
Buy Ripple xrp coin for future directly using the PayPal at e-toro CFD trading platform
Another way to buy ripple xrp coin using PayPal is to first buy Bitcoins using PayPal from below listed exchange and then exchange Bitcoin for ripple on Binance altcoin trading platform
3. buy Ripple xrp coin for future using the Bank wire transfer
4. buy ripple xrp coin for future using the cash at coinmama exchange
5. buy ripple xrp coin for future using the Bitcoin
There are many 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
Hello, I am HarshVasistha Btech(IT) from New Delhi, India. I am the Owner and the Author of coinexpansion. Although, I am not a techie but got infatuated with blockchain technology. Hence I commit myself to thorough and in-depth research on the core subject. Coinexpansion is the product of my cryptocurrency learning lust.
Hobbies – An avid reader, compulsive learner, passionate writer, sports addict and obsessed with learning new things and love to decode that stuff into simple and self-explanatory words.
I will do my best to serve my viewers with more pragmatic information about cryptocurrency and it’s associated technology and will try to keep you updated with current events of the cryptocurrency world