Investors are a harried lot. They wish to make long term investments in minimal spending.
Why cryptocurrency you may ask?
New are investors want to change the way conventional investments are made. The old world way to make investments on shares and bonds and commodities do not provide with the same returns cryptocurrencies do. Just to give an idea, as of 2017:
Ethereum is up 2,000%.
Bitcoin is up 744,233%.
Litecoin is up 750%.
Hence, with these kinds of insane numbers, attraction to invest multiplies manifold.
With the floodgates open, early investors got quickly used to four-figure returns. However, there was a flipside to this. With returns, the buying price of the above coins increased too. A viable option needed to be found. In appeared Ripple.
What is Ripple?
To call Ripple just a cryptocurrency would be blasphemous.
Ripple is not the traditional cryptocurrency that investors trade. It is so much more. Ripple is revolutionising the way transactions take place and soon the way we bank and conduct business will change.
It is pertinent to understand that Ripple is primarily two parts.
One it is the Ripple Transaction Protocol or RTXP and XRP the digital currency. XRP operates within RTXP.
The RTXP or Ripple transaction Protocol is the real-time payment gateway, which allows money to be exchanged between individuals irrespective of their positions or banks.
The digital asset or cryptocurrency that runs the Ripple network is XRP. When you are buying Ripple, it would mean you’re also purchasing XRP. If you’re a newbie to investing in digital currency, the best way to think of XRP is as a currency or fuel that powers Ripple.
However, it is also important to know that while it is preferable to use XRP to run the RTXP network, it is by no way mandatory.
An important bit of information for investors, eager to put money in the Ripple network, it is being backed by the following investors:
Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Vast Ventures, and Bitcoin Opportunity Fund.
What makes Ripple unique other than the fact is that it is still being traded at $1 is that it does so much more. It transfers not just cryptocurrencies but money and information too.
Ripple’s uniqueness lies in the fact that anything can be transacted through its secure pathway. That makes it a powerhouse in the world of cryptocurrencies.