Everyone interested in the crypto market sooner or later meets Ripple (XRP). You might even be ready to invest in XRP right now. Before making a decision, you should learn more about the content that interests you.
Are Ripple and XRP the same?
Ripple is the company that created RippleNet and developed an open source payment protocol. Ripple now functions as a platform and as a cryptocurrency. The main advantage of the Ripple ecosystem is fast, secure, low-cost transactions, including international transactions. Bitcoin was initially positioned as an alternative to fiat currency. Ripple was created as a link between the current banking system and the crypto world to simplify and improve the work of the banking sector.
Ripple (XRP) cryptocurrency differs from its closest competitors in that it is created by a centralized private company. On the one hand, the over-centralization of XRP goes against the main idea of the crypto world. On the other hand, it gives a clear answer to the question: “Is Ripple a good investment?” The innovative company is interested in growing its business and promoting its products, including the altcoin XRP.
Notably, the Ripple blockchain system is used by:
- american bank
- SBI Corporation
- Standard Chartered Bank (SCB)
- American Express
- Royal Bank of Canada
- Money Gram
- suitable money
- Westpac Institutional Bank
- Bank of Australia
The interest of major financial institutions in the Ripple network can be explained very simply: transactions of any amount and anywhere in the world using the network are done in seconds without any hassle. need additional security and reliability checks. Due to the high transfer rate, losses due to exchange rate differences are completely eliminated.
How to invest in Ripple?
First of all, choose a trusted platform where you can buy XRP. It can be a supervised cryptocurrency exchange or an unsupervised service. Among the classic custodial exchanges, it is worth noting:
- Kraken is one of the oldest cryptocurrency platforms
- Coinmama is a visual platform
- eToro is an exchange that offers the ability to trade fiat and digital currencies.
To access the functionality of the monitoring service, registration and identity verification is required. This will take some time. You can buy XRP on the LetsExchange non-custodial platform without registration, with just a few clicks. In the exchange widget on the homepage, do the following:
- Select the currency you want to exchange and specify the exchange amount.
- Select cryptocurrency to buy. Our search engine will instantly provide you with the best BTC to XRP exchange rates available on major exchange platforms.
- Enter your wallet address to receive the exchanged crypto.
- The next step is to deposit the required amount for your transaction.
- Once the deposit is made, your BTC to XRP conversion will be done automatically.
Please note that exchanging fiat for XRP is not available on all platforms. Before investing in Ripple, you need to buy Bitcoin or Ethereum, then exchange your cryptocurrency for XRP.
Where to Store Ripple (XRP)
If you are considering XRP as a long-term investment or are planning to invest large sums of money, the best solution to store your coins is a hardware wallet. Hardware crypto wallets are known as “cold storage”, which cannot be accessed by cybercriminals.