Buy Ripple for future
This post is about why one should buy Ripple for future and how it is different than other cryptocurrencies for long-term investment?. As Bitcoin price is rising the moon, it is getting out of reach for investors who want to get higher ROI. A complex task for Cryptocurrency enthusiast and crypto investors is to hunt for next Bitcoin for the year ahead and Ripple sits at the top of hierarchy listed for best alternatives to Bitcoin with high ROI (return on investment)
In last few days i.e. last week of December 2017 Ripple coin has jumped more than 100%, reaching a high of $2.71. Over the year, XRP is up a staggering 38273% surpassing Bitcoin in the overall growth of a cryptocurrency in the complete Year i.e. 2017 and set new benchmarks for other crypto coins.
Source – Coinmarketcap
As you can see above, the price of XRP as shown in above chart increased dramatically in last few days. The average daily trading volume of XRP tripled and it has surpassed Ethereum in overall market cap and now ranked second after Bitcoin. Latest stats of ripple are shown below.
Ripple is a most likely candidate to take bitcoin’s crown in next 2 to 5 years. Unlike Bitcoin, Ripple is not a digital cryptocurrency. Ripple is designed to facilitate speedy low-cost interbank payments, especially across international borders. In simple term’s it is a global payment system network which is specifically made for finance institution. There is a total of 100 billion tokens and roughly 60% of those are owned by Ripple Labs, with 35% in circulation.
I have written a specific article explaining ripple, why you should buy Ripple, and how it is going to perform in future. Read here
Now, Ripple is busy revolutionizing the way we transfer money and receive payments. Soon, it will change the way we bank and conduct business around the globe. Over the course of this post, I will highlight and explain the top three compelling reasons why one should buy Ripple and invest in it for future. Ripple provides a second opportunity to those who didn’t grab bitcoin when it was less than 500$.
3 Top compelling reasons to buy Ripple and invest in the token for future
1. Advance Technology
Ripple a global payment processing system. It was specifically designed to be able to change or throw away current cross-border money transfers serving banks ever since 1973 i.e.the SWIFT system. SWIFT is an entity with a monopoly on border transfers.
For example, say if you have sent money abroad, you have used a SWIFT service. It has two major flaws
Firstly, a transfer with SWIFT between two countries can take from 3 to 5 days.
Secondly, costs of these transfers, which are not negligible, especially if we are talking about transfers of the large sum of money i.e. thousands of dollars. On average a typical remittance transaction costs $5.
Ripple XRP is a third-generation blockchain technology It is latest Blockchain technology which is in use, only IOTA use a higher blockchain technology than Ripple. For example, Bitcoin works on first generation blockchain technology.
Ripple coin is bringing to the table is a consensus-based ledger protocol that can exchange currency in real time. Ripple can process 1500 transactions per second, which is huge as compared to Bitcoin and Ethereum as Bitcoin can handle up to 7 transactions per second and Ethereum handle 15 transactions per second. VISA can handle up to 2000 transactions per second.
Indeed, VISA can handle more, about 2,000 transactions per second, but as Ripple uses blockchain technology which makes it more secure than current global money transfer system.
An XRP transfer is done in 4 seconds. By comparison, an Ethereum transfer is made in about 3 minutes and a Bitcoin transfer in 10 to 30 minutes.
You can see that XRP uses far superior blockchain technology than other two main cryptocurrencies i.e. Bitcoin and Ethereum.
Institutions using the Ripple transfer platform will reduce the cost of transfers by 30%. If institutions use the Ripple platform and the XRP currency, the transfer costs will decrease by 60%.
Ripple advanced blockchain technology advantages over existing global payment transfer system.
“Major drawbacks of the current global payment system
Slow – takes 3-5 days in transfer
Unreliable – High transaction failure rate
Nonuser-friendly – System doesn’t provide a seamless experience to users
Expensive – 1.6 trillion USD annual fees
Ripple XRP coin price prediction – New millionaires in making
Ripple solutions to major drawbacks of current global payment system
Fast – Instant, on-demand settlement
Reliable – Real-time traceability of funds
User-friendly platform – Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.
Cost-effective – Low operational and liquidity costs
Scalable – Transactions are scalable
Secure – Advance blockchain technology made transaction more secure”
So comparatively advance blockchain technology gives one of the compelling reason to buy ripple for future
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2. Low price higher return on investment(ROI)
The low price of Ripple makes a very good reason to buy Ripple for future. Although Ripple market cap has increased significantly the price of a Ripple remains relatively low in top 5 cryptocurrencies according to market cap. This means that this currency has made a significant progress to be used in the real world, but it still has remained cheap.
There are several reasons why XRP has remained cheap. First of all, BTC and ETH benefit from the majority of the attention of the big investors, but also the attention of small investors and this leads to higher prices.
A rumor was about Ripple was it will offer 100 billion coins. This lead to suspicion in large-scale investors, who were afraid that the market could suddenly be invaded by a large number of coins. These fears have removed by Ripple. The company released news that it will escrow only about 55 million coins.
TOTAL XRP HELD BY RIPPLE 6,253,951,232
TOTAL XRP DISTRIBUTED 38,739,142,811
TOTAL XRP PLACED IN ESCROW 55,000,000,000
As of December 3rd, 2017
The price of Ripple is hovering around $1.6 currently. This offers a great opportunity for small-scale investors to buy Ripple for future as it is affordable. It is assumed the price will hit 10$ at the end of 2018, it will translate to a staggering return of 1000% on any investor who buys Ripple at its current price. Other currencies which are currently trading high most probably won’t compete with the Ripple in overall return on investment.
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3. Acceptance by Banks and Finance institutions
More than 100 banks and financial institutions have adopted Ripple as the payment system and there is more than 100 financial institution which is testing Ripple platform or is in process of adopting it by the end of 2018.USB, JP Morgan, Standard Chartered, HSBC are among some of them.
Michael Arrington
A major announcement was made during Coindesk’s Consensus conference Michael Arrington, the founder of one of the most internet’s successful startup, TechCrunch, announced a new hedge fund that would become the first to be denominated in a cryptocurrency. For no one surprise, the currency Arrington settled on was Ripple. This just goes to show the potential and promise the cryptocurrency has. For one, the ripple is faster than other blockchain technologies and another reason to buy Ripple for future
Speed is the major hindrance for other major cryptocurrencies like Bitcoin, Ethereum, and other potential cryptocurrencies. Ripple beat hands-down other cryptocurrencies in the transfer speed and number of transactions can be processed in a second.
Become Bitcoin millionaire – is it really possible?
Bitcoin takes 10 to 30 minutes to complete a transaction and Ethereum platform takes about 15 minutes whereas Ripple platform takes mere 3 seconds to complete a transaction.
Ripple network can process up to 1500 transactions in a second. Compare this to a dismal 7 transactions per second on bitcoin and 15 on Ethereum and you instantly know that ripple has a huge advantage.
This makes ripple a suitable cryptocurrency for everyday transactions which need to be fast and convenient.
The technologically advanced nation like South Korea and Japan has shown greater craze in the platform as South Korea accounted for more than 50% of total platform transaction
But it is not Asian countries that are showing interest there are many European countries are testing this platform and almost all major U.S. exchanges are planning to use Ripple as an asset for trade. This is going to trigger a chain reaction among other major exchanges and the demand is expected to surge and early adopters can make huge profits in future.
Recently, American Express and Santander bank, Spain’s largest bank, settled on Ripplenet, Ripple’s enterprise blockchain network, for cross-border payments between the United Kingdom and the United States.
Most probably cryptocurrency exchange giant Coinbase lists it as a tradable asset by mid-2018. This acceptance of Ripple token by the financial institution gives a strong statement to buy Ripple for future
Ripple has long proven its potential for long-term investment gaining more than 4000% in value last year alone replacing Bitcoin in overall annual growth rate in 2017.
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Conclusion
All these three viable factors mentioned above make a compelling reason for one to buy Ripple or invest in Ripple token who lost the opportunity to buy Bitcoin when it was cheap.
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