Ripple

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Ripple is actually the platform for which the coin XRP is on and the coin is what I will be reviewing and when I say Ripple, I’m referring to XRP. So Ripple was designed to be a game changer for bank to bank transfers. With the current system it takes awhile for banks to transfer to other banks. Ripple cuts that time dramatically. It takes just 4 seconds to transfer ripple from and to anywhere in the world.

Ripple is currently trading at $0.87 and is ranked number 3 on Coin Market Cap.

What is Ripple?

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Ripple was launched in 2012 but the foundation has been around since 2004. XRP was created as the go-to crypto for banks and global money transfers. Currently there are more than 100 financial institutions using Ripple’s network. As I stated in the intro, Ripple takes only 4 seconds to transfer. Which is very good for doing transfers because with Bitcoin it can take over a hour to transfer and the price of Bitcoin can change during that time.

How is Ripple Different?

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One major difference Ripple has over other coins like Bitcoin or Ethereum is that Ripple isn’t entirely decentralized. Bitcoin is backed by thousands and possibly millions of miners around the world where as Ripple is handled by banks and Ripple Labs. Another difference is with Ripple new coins aren’t being created. Whats out is it and actually every time a Ripple transaction is made, the fee’s associated with that transaction are destroyed. Ripple has a max supply of 100 billion but because of the destruction of the transaction fee the current total supply is 99 billion.

Final Thoughts

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Ripple is a long term investment. So if you’re not interested in seeing green anytime soon then Ripple is the coin for you but even if you aren't I would definitely look into this coin. I bought Ripple when it was $0.23 at the beginning on 2017. I’m not a sit and hold person so I sold once I had made some profit and I regret that decision.

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Here is where I found my info,

Digital Trends
CNBC

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I am not registered as an investment adviser with any federal or state regulatory agency. The Information should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information provided for informational and educational purposes only.

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