Ripple is a popular digital payment network, typically designed to allow for cheap and real-time financial transactions. It also doubles up as a decentralized cryptocurrency, XRP. When processing transactions, XRP tokens are used to serve as the bridge currency in the digital payment network
Ripple was released to the market way back in 2012 by Ripple Labs Inc. And based on market capitalization, commonly known as market cap, this digital currency is currently ranked as the third-largest coin on the market, behind Bitcoin and Ethereum.
The fundamental objective behind the formation of Ripple was to address some major issues experienced in the international monetary system, which complicate currency exchanges leading to high fees and foster days.
Well, the Ripple platform is built on an open-source protocol and peer-to-peer decentralized system, which has made it a lot easier to transfer money in any currency with much lower fees.
What’s more, Ripple Labs Inc uses an advanced technology that cooperates with the classical banking systems through their flagship transactional products, including xRapid, xCurrent, and xVia. Hence, many reputable global firms and financial institutions like Cambridge Global Payments, SEB, and BBVA have adopted the Ripple payment network to process their transactions.
Ripple-trading is simply transferring payments, exchanging currencies, and maintaining liquidity using the XRP tokens. There are plenty of XRP coins already in supply, and you’ll need to buy some from a reliable cryptocurrency platform. It’s important to note that unlike Bitcoin, Ripple cannot be mined.
If you want to use the Ripple cryptocurrency, you will need to find a wallet for storage. An XRP wallet is used as a personal ledger of your transactions. Keep in mind most crypto trading platforms will require users to load their digital wallets with a certain amount of tokens before they start trading. The reason is simple — to prevent the creation of dubious accounts.
When making a transaction, input currency is typically exchanged in XRP before it is transmitted over the network. It will be exchanged into the output currency once it has been delivered to the intended recipient. In other words, it’s very possible to complete transactions within the systems in two different currencies without involving intermediaries.
Each currency on the network has a specific gateway. This means that if you buy goods and the seller wants, for example — bitcoins as payment, it’s not a must to have bitcoins to complete the transaction. You can use the US dollars as payment and the seller will receive Bitcoin from his gateway.
XTRgate wants to provide every user with an optimal experience possible when executing their trades. That’s why we’ve invested in the most advanced technology, which allows us to provide a trading platform compatible with all devices while eliminating glitches. Also, the platform is subjected to constant improvements and the addition of new features.
The safety of your hard-earned money is a top priority for us. To keep your sensitive data and virtual transactions secure, our company has put in place advanced security measures, including implementing the latest SSL encryption technology.
With our trading platform, there are exorbitant third party fees or hidden charges. Also, you’re not necessarily required to invest a fortune to open several trades or purchase any asset.
You can trade on the most popular assets in the world of cryptocurrency any time during the day or night.
You only need to create an account and then load funds to start trading on our platform. Everything is done online with just a few clicks and nobody will force you to sign contracts with brokerage companies or banks.
We have premium-quality tools and tailor-made solutions you can take advantage of to maximize your profit, regardless of your crypto trading experience.
Ripple price history and prediction
Ripple has seen significant growth over the years it has been in the market. As we mentioned earlier in this post, Ripple XRP ranks third on the list of the leading digital currencies. It’s because in 2017 this digital coin saw a 40 times increase in its value. The price continues an upward momentum, which has led to Ripple’s increased popularity.
The price is subject to the frequency of releasing the new Ripple coins. As of this writing, 100 billion XRPs are already available in the market. Ripple Labs Inc. controls about 61 billion XRPs. Crypto experts have predicted that XRP will see prices skyrocket in the future, considering Ripple has made some great partnerships and many large global banks are testing out their tech. As they have it, the price could touch anywhere between $10 and $20 per XRP token.
Ripple Trading Vs Bitcoin Trading
While for many people the concept of Bitcoin and Ripple trading might appear similar, some things set them apart. Without further ado, let’s have a look at them below.
Clearly, Ripple is the winner when it comes to speed, fees, and the number of transactions completed in a second.
If you’re starting out with Ripple-trading, it’s recommended to take time and at least learn the basics. Well, here are some of the rules to guide you.
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