We will study why XRP is a lifetime investment. As we discuss Ripple in detail, please keep it locked and May provide you with a reason to invest. Welcome to the "money party". Click the "Subscribe" button and open more notifications! Compared with Bitcoin, XRP (also known as the parent company Ripple) is not popular among ordinary people , But in terms of market value, it is actually the third largest cryptocurrency. Therefore, due to one or more reasons Developed a strong interest in Ripple and used it more and more in the banking system , Is this a good investment? XRP is a good investment because It has great potential for development. Its low price makes it a huge investment opportunity, And use it as a token for ultra-fast currency transfer through the Ripple network, And charging ultra-low fees, its use in multinational banks has increased. Ripple is a digital asset used for payment. It is a native digital asset on the XRP ledger, which is a Open source, unlicensed decentralized blockchain technology, can Complete the transaction within 3-5 seconds.
Ripple can be sent directly without a central intermediary, This makes it a convenient tool for quickly and effectively bridging two different currencies. Just like its altcoin Ether (and its parent company Ethereum), many people The currency name is also confused with its parent company network. In the case of Ripple, its network is Ripple, An open source protocol (developed by Ripple Labs, also commonly referred to as Ripple). in spite of XRP is now available in more than 180 countries around the world, but this is not the reason for its creation. The main reason for creating Ripple is to use it as a token to promote Cross-border currency transfer through the Ripple network. Ripple price history Since its launch in 2013, there have been some crazy price fluctuations in the history of XRP.
Until 2017, Its price barely reached more than $0.01. But in March and April of that year, Its price began to rise sharply. By the end of April, it had risen by $0.05. It didn't stop there, there were no long shots. By the end of May, it had risen by $0.25. It's slightly in the next few months Retracement, but with the closing in 2017 and the break of dawn in 2018, the price soared, Just like in other notorious cryptocurrency bull markets The same goes for other cryptocurrencies (the most famous is Bitcoin, which reaches nearly $20,000). Its price reached a peak of $3.84 on January 4, 2018. But within two weeks, its value has shrunk by more than half. By the beginning of 2019, it had reached $0.30 Mark, and so far has not risen above the 0.50 dollar mark again. About XRP's price future Trends, forecasts between analysts are different. Some people say that if Ripple continues Popularity, the price may be as high as US$200-300 by 2030. Some other predictions Changes between $20, $17 and "over" $5, just to name a few. Of course, no one owns a crystal ball , And there are many factors that will affect the price of Ripple in the future.
There are several factors that distinguish XRP from other tokens. It is not mined. Unlike Bitcoin and other cryptocurrencies, XRP will not be mined. Although there is also a certain amount of money supply, the ripple It was not created through the actions of miners. Instead, it was issued by its parent company Ripple. When the currency was launched in 2013, 100 billion coins were created. But so far, currently Only less than half of the circulation. Ripple will periodically release coins from the escrow. Can’t run on the blockchain.
Unlike Bitcoin and other cryptocurrencies, XRP does not run on the blockchain. Instead, to verify transactions on the network, Ripple uses It uses its own technology-Ripple Protocol Consensus Algorithm (RPCA). However, it works like a blockchain , Because a consensus must be reached to verify transactions on the network. It does this through a consensus protocol. Not on the blockchain with Ripple The fact of operation is that it is centralized. Take Bitcoin as an example, its entire original purpose It is to bypass the participation of third parties. But with Ripple, it is completely Controlled by the parent company Ripple. Its services are sold to banks-Bitcoin is unthinkable. XRP HODL wants to store any cryptocurrency, You will need a digital wallet. There are many different types of wallets, some are offline, Some are online.
Some are safer than others. Check out our information about cryptocurrency wallets Complete guide to find the best wallet for you. If you plan to long-term Hold cryptocurrency, then you will need to use custodial wallet service. We will use GateHub Take for example. To have a valid wallet address, Ripple requires you to deposit 30 XRP at a time . After creating and verifying your GateHub account, please continue to use the purchased XRP Do this. You can also transfer Ripple from an exchange to a hosted wallet service. All you need is the wallet address, which you can obtain from the GateHub wallet page.
Click the "Subscribe" button to get more information! The advantages of ripples. Banking partnership: In terms of practical value, this may be Ripple's biggest advantage. More than 100 banks have partnered with Ripple, which makes it Ranked first in the digital asset payment system. The bank knows the value of zero delay and instant payment, And by cooperating with Ripple, they will benefit a lot. It also acts as a bank and financial institution Internal exchange mechanism, sell Ripple directly to them, So that they can make global payments.
Fast settlement and zero delay: The biggest advantage of Ripple is that it accelerates the liquidity of global currencies through fast payments and low handling fees. . It can already execute 1,000 transactions per second, which is much faster than most competitors. Due to the PayChan function, the delay in the transaction is almost zero . Transactions conducted through PayChan only account for the cost of credit card transactions a small part. Here alone, Ripple can save billions of dollars in expenses. Infinite zoom: Ripple's inherent design allows unlimited zoom. If you don’t know, extension is a serious blockchain and it involves blockchain How the technology will handle more and more users. Even for mature coins like Bitcoin and Ethereum , This is still a problem.
Although many developers are working on this issue, But none of them provide a truly comprehensive solution. Ripple's InterLedger protocol allows different blockchains Working together-this is a wise solution to the scaling problem. The meaning of these four aspects is that it Allow transactions across different ledgers. Why not let information flow between different ledgers, Instead of dealing with an increase in a ledger? It is similar to An early protocol established to help the development of Internet infrastructure.
The disadvantage is not an obstacle that stops Ripple, but if Ripple wants to develop , They are problems that need to be solved. ripple Disadvantages of anonymity: Most cryptocurrencies provide a high degree of anonymity-although none is perfect. However, Ripple's degree of anonymity is low. working hard now Make Ripple a completely anonymous currency, although don't expect it to happen anytime soon. Ownership of a large number of coins: Another downside of Ripple is that the company itself Owning 63% of all coins, which means they can control the price. At least for the general public, One of the most fascinating things about cryptocurrency is that the direction of token development is Determined by the user rather than a single entity. Ripple's huge control over coin circulation Surprised some cryptocurrency enthusiasts. Gateway counterparty risk: if you do it on an untrusted gateway on Ripple Transaction, you may lose coins.
If you Hold coins on this gateway, and the other party has not fulfilled its obligations, then Your shares will be at risk. Ripple is solving this problem. Trusted Gateway will Pass authentication, and multiple gateways can be used to establish a multi-level trust method. XRP News Coindesk stated that users of the SBI cryptocurrency exchange can lend XRP to get a return of 0.1% per year. Japan Financial Services Corporation A subsidiary of SBI Holdings said on Thursday that it will allow customers to lend XRP Cryptocurrency in exchange for interest. •According to the The announcement of the group’s cryptocurrency exchange SBI VC Trade, from today, Ripple loans are available, The loan period is 84 days. • The minimum loan amount is 1,000 XRP (Approximately $389 at the time of writing), the maximum loan amount is 100,000 XRP ($38,900). Interest is called a "use fee" and only includes 0.1% tax per year.
• The crypto lending service was launched in November 2020, Allow users to borrow bitcoins at a 1% interest rate. •SBI VC Trade was launched in 2018, initially focusing on Trading in XRP. SBI has a business relationship with Ripple, and Ripple is closely related to Ripple Blockchain payment company. • The US Securities and Exchange Commission took Ripple to court at the end of December Later, Ripple’s market value fell, and the The company accused the company of violating the Securities Act of the Cryptocurrency Retail Act. • Since then, many US exchanges including Coinbase and Binance US have delisted XRP, but SBI Said that it is not considered a security in Japan. If you consider Ripple as an investment, Then do it. It will only appreciate in the next few years. They are Continuously upgrade the system and attract financial institutions to use its platform.
The clear purpose of their collaboration (ie to improve global transactions) makes them better than other coins Have a better sense of direction. Among the top coins on the market, Its use cases make it a safety net. Ripple surged in 2017, this trend Will continue in 2018. If you want to participate in the game, now is the time to do so, 2018 The value of will be double or triple. This is both a short-term investment or a long-term investment. Now let us know your thoughts on this in the comments section below and let us Have a conversation. Thank you very much for watching.
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