Your Quick Guide to Invest in Ripple Cryptocurrency

Since the launch of Bitcoin in 2009, cryptocurrency has dominated internet discussions. Many cryptocurrencies have emerged over the years with the number now reaching over 1600. The market is projected to reach $1.40 billion by 2024 with an impressive CAGR of 6.18%.

While Bitcoin and Ethereum have dominated the cryptocurrency market, other innovative coins have emerged over the last few years. One of these is Ripple/XRP, and if you want to invest in the thriving, this is one of the coins to consider.

This post offers a quick and concise Ripple 101 to help you make an informed investment.

Ripple and XRP Explained

In 2012, US technology company Ripple launched XRP which has gone on to become one of the world’s largest cryptocurrencies. The Ripple platform seeks to provide fast, affordable and reliable cross-border payments.

In today’s globally interconnected world, consumers and financial institutions still find it hard to transfer funds seamlessly. It is a problem the Ripple platform seeks to resolve with by creating enabling more efficient transactions between the world’s financial institutions.

Ripple offers an effective financial settlement system for leading financial organizations and liquidity providers across the globe. This makes it the only cryptocurrency that interacts with the traditional financial community.

On the Ripple/XRP platform, users can transfer money from any currency to any other currency in seconds, across the globe. The platform primarily targets financial institutions which are the center of global trade. Through this platform, older, slower, insecure and inefficient transactions will have give way.

Some of the main terms to remember as an investor include:

• Ripple: This is the company behind the Ripple payment protocol and network. This is a name used interchangeably with XRP, thus confusing beginners in cryptocurrency.
• XRP: If you want to make a transaction on the Ripple network, you use XRP cryptocurrency. This is a bridge between different currencies being transferred. Unlike Bitcoin, these coins are not mined, but you can buy them from different exchanges like Gatehub, Exmo, Bitsane, Cex.io, Bitfinex, Bitstamp, and Kraken.
• RippleNet: Over time, Ripple has built a network of payment providers to create the Ripple’s network of payment providers. These providers are available across the world and facilitate seamless financial transactions. They include corporate entities, payment providers, banks, and digital asset exchanges.

Why Invest in XRP (Ripple)?

Before investing in any cryptocurrency, you need to consider the benefits. For XRP (Ripple), here are some of these advantages:

• Acceptance by leading financial institutions makes it a viable investment.
• Ripple’s Transaction Protocol is fast and can handle large transfers at the lowest fees
• Value and potential ROI
• Scalability as the coin has lots of potential by solving some of the greatest problems in the financial industry. It has already grown to become the third-largest cryptocurrency in capitalization despite market fluctuations.
• Ripple uses cutting-edge technology that allows secure and lightning-fast transfer speeds.
• It is available on all major cryptocurrency exchanges, includingCoinbase, Gemini, and Binance.
• Cheap transaction fees 
• Transparency and additional security
• Peer-to-peer eliminating any central point of failure.

Investing in XRP (Ripple)

If you want to invest in this fast-growing cryptocurrency, you can opt to buy XRP coins at exchanges such as Kraken, Bitstamp, Bitsane, Bitfinex and Exmo. You need to create a Ripple wallet, get an XRP address and pay for your coins.

Final Thoughts

As a new investor in this market, it’s always good to look at the viability of the cryptocurrency. For XRP (Ripple), the platform and the cryptocurrency seek to solve a big problem in the financial industry. At one time, the price of XRP grew 4300% in 2017, which highlights its potential. This information should help you make the final call.