If you are a beginner, you might be asking yourself what is Ripple. In simple terms, Ripple is different from bitcoin. It is more of a back-end infrastructure and not a currency. It refers to open source global exchange and anyone can access it and everyone has the right of use. You should also note that the company doesn't control the network, limit access or collect fees.

Just like other cryptocurrencies, ripple utilizes blockchain technology to provide faster cross-border transactions. Many people are investing in this platform because it is secure, scalable and reliable. According to the records taken in the last week of Dec, 2017, it reached $3.80. this made it the largest cryptocurrency in the world with a market cap of over $140 billion.

In reference to Coinmarketcap, Ripple is growing fast and it is the second largest market cap. With its current partnership with financial institutions, ripple is growing pretty fast. It has good technology that assists bank to send cross-border payments at relatively low fees.

Majority of ripple investors say that the ripple price currently cannot be compared to the price it will get in future. This is because they believe that it will go to unimaginable value than people expect. For those people who do not have ripple coins by now, it can be a great idea if you buy some and hold.

What advantages does ripple have over other cryptocurrencies?

There are many things that make ripple the best as compared to other cryptocurrencies you know. Some of the advantages of ripple over other cryptocurrencies include the following:

  • Transaction speed

It beats other cryptocurrencies when it comes to transaction speed. The mining process in the rest of the cryptocurrencies makes transactions to take longer to complete. With ripple, across border transactions can be completed in seconds.

  • Low transaction fee

It provides low transaction fees as compared to other cryptocurrencies that take more fee. This makes it popular among many investors.

  • Decentralization

If you invest in Ripple XRP, you will get many benefits because it has a decentralized blockchain network. Investors are free to buy or sell ripple xrp because the company has a secure system. On the other hand, the rest of the cryptocurrencies are either bought or sold through central exchanges which can crash anytime and the users might end up getting losses.

Final words

Cryptocurrencies is attracting more investors all over the world. In as much as the sector is not regulated, there is a wide variety. Many people are familiar with bitcoin but there are other great platforms like ripple. Accessing this market is a simple task and you don't need a huge investment.

In regards to ripple price, it is increasing substantially against bitcoin and dollar. Grab this chance and buy some ripple coins because it is going to be the next big thing in the future. As far as history is concerned, ripple is regarded as the first practical blockchain.

Published by Joseph Nicholls