One of the most popular coins at the moment is Ripple. Cryptomoneda grew more than all the other major currencies on the market, bringing huge profits to those who invested in it. But is it still worth buying Ripple (XRP) at the moment? In this article we will talk about this, as well as about everything that needs to be known about the spectacular currency of the moment.
Considered the most pleasant surprise of the year (especially those who have already invested in it), Ripple has risen from a price of $ 0.0065 (or less than 1 cent) in January 2017 to nearly $ 3 at the end of December 2017. the moment of writing this article, 1 XRP is selling at $ 3.28, and the currency itself has become the second most popular cryptomon in the world at the moment
In other words, if someone bought Ripple worth $ 100 at the beginning of 2017, at the end of 2017 he would have been very happy, having $ 46,153 in his account.
Personally, I screwed up with Ripple. We bought 950 XRP coins in September, selling most then for profits that we considered good: 15% and 20%. I have only 200 coins and you realize how bad I feel I did not care about them ... but that is, you have no way of knowing how the market will be over a month or even over a day. But in the case of cryptomonas, everything is pretty simple at the moment: everything goes up and deserves patience.
Worth Buying Ripple?
I want to start with a small disclaimer: Cryptomonas market is extremely volatile and nothing is safe. The decision to invest (or not) in Cryptomonades is yours 100%.
But what is my opinion? Worth buying Ripple now, when its price is at historical highs?
Very hard to say. Normally, you should never buy when prices are high. But is the Ripple the maximum now or will it ever grow, and never in 2018 (or in the future) will it no longer descend to $ 3 for a coin?
This is the question of $ 1 million or more. Personally, I would wait a couple of weeks to see the trend. If the price continues to rise in half a month, I would buy. If it stabilizes, I would wait a bit before buying (because the currency can go down, or it can prepare for a new spectacular growth). If the price starts to fall, I expect it to stop falling and I will buy as soon as it stabilizes or starts to grow.
In other words, I consider Ripple a very good investment right now. The risks are high, but if the voices claiming that XRP will beat Bitcoin in popularity are right ... there are risks that I'm willing to assume.
How Do I Buy Ripple?
Being such a popular coin, Ripple can be bought in many ways. The easiest thing to do is buy it directly with the card on cex.io (I have written more about this platform here). It is also possible to pay with a bank account there and it is cheaper than if you choose the method below, which has several steps and automatically some more taxes (which are not deterrent).
If cex.io does not receive new users (faced with big problems due to the influx of users in a while), Ripple can be bought with Bitcoin. The process is slightly more complicated, but not impossible. Here are the steps to follow:
Note: You will need to check your identity at every site that trades with cryptomones, so you have prepared photos with your identity card and possibly an invoice on your behalf.
Buy real money BTC on a platform like BTCxchange (or any other similar platform).
Create an account on a trade that sells Ripple. I personally use Poloniex and Bittrex, but I also have a good idea about Bitfinex or Binance - which I do not use actively, though.
Transfer Bitcoins you buy on BTCxchange to your favorite exchange (Poloniex). For this, in the money where you get the money, find the BITCOIN wallet and copy its address (so DO NOT address your XRP wallet). Use this address on BTCxchange in the "Withdrawal" section and wait for a while until the BTC reaches the exchange wallet (it can take up to 6 hours).
When you have BTC in your wallet, buy XRP with them at the current price.
What Is Ripple?
The most important thing when we decide to buy a cryptomon is to know what it is. What is he trying to do? What partnerships does it have? Does it have great potential and great plans that can turn it into a super coin?
All of this can be found directly on the official Ripple site, but if you do not have the chance to read all the white papers, here's about what XRP is all about:
Basically, Ripple is an alternative to Bitcoin. Unlike BTC, Ripple is largely controlled and coordinated by the parent company of the same name. Ripple allows fast and secure money transfers at lower prices than Bitcoin's.
One of the great advantages of this coin - and the reason for the spectacular rise in price - is that it already has partnerships with large banks in the world such as Bank of America, UBS, Santander or Unicredit, but is in talks with many, many other banks, especially from South Korea and Japan. When writing this article, 30 banks use the Ripple platform.
There are 38 billion Ripple coins on the market out of a total of $ 100 billion initially created. The parent company can launch a maximum of 1 billion new coins per month to prevent too much inflation. But this inflation is part of the equation and it is difficult to predict if demand will be higher than the number of coins that are launched over time.
Overall, however, due to lower costs and the speed at which transactions are made, Ripple is preferred by many financial institutions at the expense of Bitcoin. And if the widespread adoption of the XRP is possible, then the price of this coin has no reason not to continue the spectacular rise in 2017.
How Do We Store Ripple (The Best Wallets For XRP)?
All cryptomonas on the market are stored in a wallet. These wallets are software programs that store private and public keys that represent amounts or transfers of that cryptomon.
When it comes to Ripple, we have several storage devices, each with advantages and disadvantages:
Exchange wallets: XRP coins can be stored in the wallets of the sites where we buy them. It is considered risky if there are no frequent transactions, because large exchanges have been attacked and stolen coins (although this is becoming more and more difficult).
hardware porfos: considered the safest way to store cryptomones, hardware wallets offer countless ways to increase security and back-up possibilities. The best-known hardware wallet is Ledger Nano S.
I personally plan to buy a Ledger Nano for my coins but until then I have shared them in various exchanges and recommend this strategy to those who want to increase security. I have the Ripple in my wallet with Poloniex and Bitfinex, but I still use Bittrex, Binance and Kraken for other cryptomonas.
This is my guide to Ripple and I hope I've been able to answer as many questions as you can about this coin. If there are any further questions, do not hesitate to tell me and I will do my best to answer in a timely manner.