Purchasing The Third Largest Cryptocurrency: Ripple (XRP)
The third-largest cryptocurrency in the world at the moment is Ripple (XRP). Ripple (XRP) is an open-source protocol that is designed to allow fast and cheap transactions. The platform has its own currency (XRP) but also allows everybody to use the platform to create their own currency or tokens via RippleNet.
Ripple (XRP) is a token used for representing the transfer of value across the Ripple Network. The main purpose of XRP is to be a mediator for other tokens - both cryptocurrency and other currency.
For example, Nina deposits USD to pay Danny in Korean Won. Nina's gateway converts her money into XRP and sends it to Danny in XRP, who converts it to Korean Won and pays to Danny. XRP can convert and transfer multi-currency faster and cheaper than traditional payment systems. Ripple Net is already being used by lots of big-name banks and financial such as Money Gram, Siam Commercial Bank, Transfer Go, and more.
Unlike Bitcoin or Ethereum, Ripple doesn't have a blockchain. To verify transactions Ripple has its own patented technology: The Ripple protocol consensus algorithm (RCPA)
Ripple has some benefits:
- Ripple is originally designed as a day to a day payment system, so it is much safer than Bitcoin, the transactions are much quicker and cheaper.
- Ripple has started as an official organization to be used by banks. So it won't need multiple regulation checks as many other cryptocurrencies do.
- Ripple has the ability to be exchanged for any other currency or value (gold) with a unified minimal commission.
One of the favorite platform to use for purchasing Ripple (XRP) is Crypto.Com. In this platform, you can earn interest in a wide variety of coins, as well as apply for a crypto debit card. This operates similar to a pre-paid Visa card, where you top up before use either with cash or crypto. We also have rewards up to $50 for new investors when using the above link to create a new account.
Another platform called Celsius is a platform that works like a bank. You can deposit and earn interest in crypto, or borrow against an asset to receive cash or coins. The interest rate may vary from 2% up to 10% or more depending on how stable the coin is seen to be. A new investor may receive up to $20 when using the above link to create a new account.
CoinBase is another platform to purchase Ripple (XRP) using a credit card or even your Bank Account. You only need to follow the steps and link your Bank Account or Credit Card for purchasing your first cryptocurrency. Use this link and you can get AUD 13.84 in free Bitcoin when you buy or sell AUD 138.41 or more.
For any other questions, please do not hesitate to get in touch with us via the "Contact Us" section of the homepage and we will do our best to assist you.