Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Ripple Digital Currency (XRP)
Total capitalization (as of 07/15/2021): $ 61`314`078`683
Trading volume (24 hours): $28,307,100
Over the past few years, digital currencies have been gaining more and more popularity. Together with BTC and ETH, XRP was in the TOP-3 of the crypto market for a long time, but over time, Ripple was pushed out of the top three. With all this, XRP is still popular and draws attention to the Ripple project and makes you study the history of the development of this project, the advantages and disadvantages over other cryptocurrencies, mining, possible options for buying, selling and storing currency.
Ripple what is it? The history of the emergence and development of RippleNet and XPR.
RippleNet is a service, a project for making transactions with digital assets and fiat funds, which was created by the private commercial company Ripple.
XPR, in turn, is the electronic currency of the Ripple service, which is among the top ten in the world ranking. The Ripple cryptocurrency dates back to 2005, when a Canadian computer scientist launched an interbank transfer service. This happened even before the advent of the blockchain and the concept of “cryptocurrency”.
Based on these statements, it can be argued that XRP is a cryptocurrency, not much, but older than Bitcoin. According to some parameters, Ripple is even much better and faster than Bitcoin. If we take for example the transaction speed (4 seconds for XPR and 600 seconds for Bitcoin) and the advancement of technology to the state level, then Ripple has much more prospects.
How does XRP work, how to mine XPR?
One XPR token includes a million units, which are called “drop”.
The main function of the token is to participate in numerous transactions for the exchange/transfer of money. Also, it is a “payment bridge” if a standard, direct exchange cannot be carried out.
The Ripple service notes that XPR does not act as an alternative cryptocurrency and positions itself as a tool in payment transactions. XPR can be bought freely for fiat or digital money on the Internet.
Initially, 100 billion XPR coins were mined and Ripple set a ban on their further mining. Therefore, it is impossible to mine the XPR cryptocurrency. Users can receive coins as a reward for participating in projects, scientific research developed by the company.
Advantages of XPR over other cryptocurrencies
- The coin has public and royalty-free codes, which is why it is developing so progressively.
- The total number of coins is 100 billion.
- A reliable level of cryptocurrency protection for users.
- Your transactions can be tracked by you at any time.
- No commission is charged from users.
- All transactions can be tracked on your wallets.
- A wide range of services and goods that can be bought for the Ripple token.
- Absolute anonymity that protects you from reporting documents and paying various taxes.
How to buy and where to store Ripple?
The XPR token can be purchased on the Internet in the public domain for fiat or digital money. These can be online exchangers and other financial platforms.
The most popular services are:
- Binance;
- Kucoin;
- YObit;
- BestChange;
- bitflip;
- BITSANE.
Ripple advises you to pay attention to Toast Wallet, as they have great reliability and the easiest registration. Suitable for PCs, mobile phones with IOS and Android operating systems.
There are several types of wallets to save your coins:
- hardware;
- browser;
- online wallets;
- desktop.
We advise you to pay attention to desktop and hardware wallets as they are as easy to use as possible and as protected from hackers as possible.
Forecasts and prospects
Apparently, Ripple plans to repeat the success of the forefather of all currencies – Bitcoin, which almost doubled from $5,000 to $9,000 in a month.
For the month of May, XPR raised the mark from $0.3 to $0.45, i.e. grew by half. However, experienced cryptocurrency traders are sure that the real boom has not yet begun. A dizzying success awaits Ripple in the near future. Note that at the moment when the digital market practically froze, the XPR coin gained good momentum among financial services. The most successful year for cryptocurrency is considered to be 2017. He brought her unspeakable popularity and an increase in value by as much as 25 thousand percent!
On December 29, a figure of 118 thousand transactions on micropayments was established. Many critics believe that cooperation and transactions in such popular global systems as Skype, Gmail and Microsoft Outlook could bring such popularity to the token.
A positive aspect of Ripple’s growth is cooperation with the countries of the UAE and Japan. Namely, the National Bank of Abu Dhabi and financial companies: Nomura Trust, ORIX Bank and Mizuho Bank, which are located in Japan.
More recently, Ripple programmers have developed a new service that will support deals and transactions with precious metals. This has attracted a lot of attention from trust funds.
In the aggregate of the above positive aspects, it can be argued that the Ripple token and the Ripple project are gaining more and more popularity among investors and other financial brokers and institutions. What do you think, will Ripple be successful?
