As cryptocurrencies continue to grow in popularity, more people are wondering how they can get involved. One popular cryptocurrency is xrp (Ripple). This blog post will discuss the benefits of trading xrp in detail.
What is Ripple?
Ripple (xrp) is a cryptocurrency designed for financial institutions and global money transfers. Since its founding in 2012, it has grown to become the second-largest cryptocurrency by market cap. In addition, it’s known for having one of the best real-world applications among cryptocurrencies – primarily because it can be used as an efficient payment solution that facilitates fast transactions without exorbitant fees or delays. To know that is xrp a good investment, let’s have a look at its benefits.
- xrp value has been growing steadily
Since its introduction, the coin’s price has risen by a whopping 7000%. While this does mean that people who bought it cheaply could sell at a high rate and make huge profits, it also means that those hoping to invest now will see less return on their investment. With over 38 billion coins in circulation as of February 2018, Ripple is among the most widely available cryptocurrencies out there – which isn’t always good news since large volume can often lead to small gains.
- It has a huge potential for adoption
Ripple is working hard to become the go-to platform for global money transfers. With over 100 financial institutions using it as of June 2017, including payment networks like American Express and Santander Bank, xrp’s future looks bright. In the same way, you should also know how to buy dogecoin on Coinbase.
- It has a low transaction fee
One of the biggest advantages of using Ripple’s xrp is that it costs much less than other options. According to Ripple, transactions typically cost only $0.00031 – which means you could send over 31 cents for every dollar sent.
- It is available on many exchanges
One of the best things about Ripple (xrp) is that it’s traded all over the world. This makes it easy to buy and sell, though depending on where you live, some platforms may be more popular than others. It should also be noted that while xrp can currently be bought with fiat currencies like USD or EURO through online portals like Bitstamp, Kraken, Gatehub, Coinone and Bitsane – there are no local-currency options yet.
So since the coin is not yet widely available in many countries, it may be hard for most people to buy. However, the coin is becoming more popular with each passing day and investing now could be a great decision down the road.