Released in 2012 with an aim to allow people to escape the walled gardens of financial networks, such as PayPal, credit cards, banks and other financial institutions that charge for currency exchanges, Ripple is the third most popular cryptocurrency after Bitcoin and Ethereum. It acts as both cryptocurrency and an open digital payment network for financial transactions, and handles the need to keep the money flowing freely.
Like Bitcoin and Ethereum, Ripple is based on mathematical formulae and has a limited number of units that can be created. The company plans to mine 100 billion ripples, half of which are to be released for circulation, while the other half will be retained by the company.
Important facts about Ripple
- Ripple is the only cryptocurrency designed specifically for payment companies and financial institutions.
- Ripple serves as a bridge between government-based fiat currencies. It has got into partnership with over 10 digital exchanges for fast, efficient and affordable value transfer.
- Ripple payments are more reliable, with a settlement time of 4 seconds.
- Ripple is helping Banks to form a common standard for payments and is uniting disconnected blockchains and ledgers.
Reasons to invest in Ripple
The most outstanding benefit of Ripple is that it is distributed and immediate. Since there is no middle-man, there is zero cost of sending cash electronically. Other significant benefits of Ripple include the following:
Ripple payments are processed in seconds, which means it has high possibility of being the cryptocurrency of the future.
The 1,500 transactions per second handled by Ripple is just a fragment of its potential. It has high scalability and can handle up to 50,000 transactions per second 24/7.
Ripple boasts of a five-year record of stable technology maintained by a team of dedicated and experienced engineers.
Where to buy XRP in Australia?
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