Ripple labs owns the Ripple Net payment transaction systems and owns the ripple currency. The primary objective is to upgrade the financial transaction for banks and for other larger financial institutions. Ripple Net is a faster, affordable and adaptable payment system. XRP stands for ripple currency and it is used in its payment network. Ripple was launched in 2012, since then it has frog leaped other crypto currencies and has come on the top three by global market share next to bitcoin and ethereum. What makes ripple unique is the way it differs from bitcoin, while bitcoin is based on blockchain and mining is required, it is quite slow, while ripple system technically works on its own platform and carries out payment transactions at lightning speed. You can buy ripple with usd in cryptocurrency exchanges. However, ask yourself whether investing in ripple?
Let us briefly analyse the pros and cons of investing in Ripple.
1. Ripple is owned by an organization with backing of top banks and more banks may come under the clout of using ripple more than now. There is huge opportunity for ripple to surge
2. You can buy ripple with usd or euro in few exchanges, however, ripple is more easily bought by other crypto currency like bitcoin and ethereum.
3. There is optimism in the air that as more financial institutions embrace the payment system the value of ripple will surge if banks favour ripple as one currency over currency exchanges. This will be a good opportunity for early investors in ripple.
1. Think for a minute why Bitcoin was popular, for one reason there was no intermediary or third party involvement, it was highly decentralized system based on blockchain. Ripple on other hand is centralized and it is up to ripple developers to decide how much ripple will be released in the market.
2. You cannot buy ripple with usd easily, only few exchanges occasionally allow for direct ripple sale for USD.
3. Though many banks are using ripple system it is still in testing stage, banks have not yet used full-fledged transfer of token but use real money, so banks are still are not into ripple.
Finally, there may be few hitches however; there is no denying crypto currencies will rule in the years to come. Digital transactions using crypto will be the new normal.