Ripple

How To Buy Ripple

In order to own Ripple you need to open an account with one of the Ripple exchanges.  The company plans to issue 100 billion ripples, but only half will enter circulation as the company plans to keep the other half.  The company does take a small transaction fee equivalent to 1/1000th of a cent. This fee is destroyed and built into the system as a safe guard against any individual trying to crash the network by putting through millions of transactions at once.

Gatehub is the official wallet of ripple but also one of the best ways to buy which can be funded in US dollars or Euros.

Why Buy Ripple

The currency is considered cheap and offers a higher ROI.  It is the most underrated currency but also appears to be one of the safest. The other currencies seem to attract more attention from the individual investors.

There are a massive amount of ripple coins.  Ultimately there will be 100 billion so that keeps the price cheap.

A transfer of ripple coins completes much faster than other coins.  On average it is done in 4 seconds.

What Is It?

A crypto currency that was created for profit.  The owner is the largest owner of the coins. This currency is not as easy to buy as other crypto coins, mainly because it’s not available on Coinbase, the largest wallet in the US.

Designed for peer to peer debt transfer. Not based on bitcoin.  Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process. Ripple can operate without the Ripple company because of the number of existing validators such as MIT, internet service providers and banks that are using it.  The company claims to have over 100 customers using ripple technology, including American Express.

The goal is to allow for transactions that don’t require transaction fees like PayPal, banks or credit cards.   Ripple is designed to let different payment systems to connect together easily and in a cost effective way.

On 1 Jan 2018, the market capitalization of XRP was 87 billion USD, making it the second largest coin by market cap.  The currency is backed by the coins the company owns and 55 million kept in escrow.

Who’s Behind Ripple?

Founded by Chris Larsen & Jed McCaleb.  McCaleb is well-grounded in digital currency, as he is from Mt. Gox, which was the largest exchange for bitcoin trades before it was hacked and went bankrupt.

Also known as Ripple Transaction Protocol (RTXP).  It is run by the Ripple software company founded in 2012.  Ripple is also backed by several established investors that provide an additional layer of financial stability.