The world of cryptocurrencies has had a strong explosion in recent years, and the interest is mainly driven by historical cryptocurrencies, such as Bitcoin, Ethereum and Ripple.
But how does the latter work? What is the technology behind Ripple?
If you are thinking of buy Ripplein fact, you should know a little bit what you are investing in.
“Cryptocurrency is an investment that can give important returns in a short time, which is why it is highly sought after, but it is a very risky instrument due to its volatility and the lack of clear rules on its use”
– Alessio Semoli Digital innovation expert and president of PranaVentures, a Venture Capitalist company
What exactly is Ripple cryptocurrency?
Ripple is one of the longest-running cryptocurrencies. Created in 2013 by the namesake Ripple Labs, this crypto has achieved very high trading values over the years. With a peak in 2017, which brought this currency to a capitalization that exceeded 100 billion dollars, it is currently the second most famous cryptocurrency after Bitcoin.
Ripple is an evolution of the same, in which the criticalities of Bitcoin have been eliminated by the two creators of this coin which has the XRP code as its acronym. In fact, Ripple has given greater weight to the financial part of the currency, with a transaction speed comparable to that of banking operations. This speed is also a sign of the security of the transactions themselves, which are continuously monitored for maximum security.
Ripple is therefore a cryptocurrency that aims to act as a link with banks, not creating itself in opposition to them but alongside them. This farsighted choice is also possible thanks to a proprietary payment service called XRapid, whose purpose is to allow banks and financial institutions to carry out economic transactions in real time even at transoceanic distances.
We can therefore consider Ripple as an emerging star in the world of cryptocurrencies, thanks to its structure which, in a similar way to that of Ethereum, contrasts with the traditional financial system by connecting to it.
Ripple and mining
Unlike Bitcoin, obtaining the Ripple cryptocurrency does not take place through data to be mined but through the donation of one’s processing capacity to scientific research. Therefore, according to purists, this coin is not considered to be on a par with Bitcoin. For the rest of the world, however, this coin creation system is very useful and appreciated, thus leading it to be recommended much more than the more renowned Bitcoin.
Ripple trend
Given the proximity to Ripple’s banking system, an upward trend is expected. Sooner or later the banks will have to open up to these new forms of trading and investment, at that moment, the currencies ready for interaction such as Ripple, will become the real winners among the various virtual currencies on the market.
Where to buy this cryptocurrency?
There are many brokers and the platform that offer this cryptocurrency. However, since this is an investment of money, in our opinion it is not worth making an impromptu choice. We have made a complete comparison of all the platforms that allow the purchase of Ripple in Italy and our test has led to a clear winner.
There are various platforms that allow the purchase of Ripple, among the various proposals, the winner of our comparison was Anycoin. In fact, with this broker we have not had any kind of problem. We also appreciated the clarity of information and the quick and easy steps that allowed us to complete the transaction.
To conclude
The economy, investments and trading are discovering cryptocurrencies. A seemingly niche idea is rapidly climbing positions and becoming an alternative investment source to traditional banks. The cryptocurrency industry is thriving and presents many revenue opportunities. Among the various coins, one of those to pay attention to is certainly Ripple, in our opinion one of the cryptocurrencies that will be able to give more satisfaction in the coming months.
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