Ripple's extravagant digital currency or just another cryptocurrency?

<>

The creators of Ripple comment that they are trying to do for money what the Internet managed to do with the types of information forms around the world..

Having said that, it is enough to recognize that this topic, “Ripple”, framed within the world of digital currencies, could be extremely interesting.

Sea cual sea el caso, si el tema a discutir es sobre criptos, es difícil llegar a una conclusión rápida; y no importará si los expertos, los medios de comunicación, los usuarios ordinarios o avanzados piensan.

And it is that there are controversies, ideas and schemes of thought found"bright" future forecast for virtual currencies according to the idea of some, and "frustrating" in the opinion of others.

Meanwhile, the truth is that cryptos continue to advance and break through. Today Ripple «XRP» is on the list of the most prestigious digital currencies within the existing ones.

XRP is a cryptocurrency that is popularized by the speed with which it is capable of carrying out transactions, in addition to its liquidity and capitalization.

We point out that this coin It is considered in the third place of location within the cryptos with the highest market capitalization., prior to Ethereum and Bitcoin.

Is Ripple just another cryptocurrency?

We are going to provide enough information in this text, to reach a conclusion in this regard and to be able to assess all the contribution and specific characteristics of this electronic currency, in the current crypto scenario.

What is simply Ripple? XRP?

The term Ripple is defining at the same time the financial transfer protocol it represents, such as cryptocurrency identified XRP.

It projects a new system that considerably changes the way or method of carrying out transactions with banks, lowering the cost when these are carried out, and significantly in those that are international.

Being therefore, a currency with ease of mobilization for efficient and secure transactions, when it is sold or bought in the investment markets, it buys or sells.

Estará ofreciendo a entidades financieras como tarjetas de crédito y débito, bancos o inclusive servicios como Paypal, una nueva opción o oportunidad a sus sistemas repletos de comisiones.

Even though it has fundamental characteristics of any cryptocurrency, it differs from them in some respects. The two arguments would be.

• It is not a completely decentralized cryptocurrency.. Its control is by the company Ripple Labs, an advantageous issue for some and not so much for others.
• Ripple cannot be extracted, is already pre-mined, this means that when it was created, several currencies were developed, this unlike bitcoin and other cryptos such as ether that can be mined. There are currently 38,739,144,847 XRP in circulation

Ripple vs. Other Cryptos

What differentiates Ripple from other digital currencies is that it enables currency exchange without intermediaries.

This is why it has received millions of dollars in investment, allowing to be placed in the capitalization market in third place, only preceded by Bitcoin and Ethereum.

Ripple moves more money every day, so much so, therefore, some analysts foresee that in near times this currency will be located in more prominent positions than the current one. Analysis that is based on the fluctuation of the market.

Let's compare the value of Ripple on a common trading day in 2017. Bitcoin decreased by 3,72%, Ethereum by 1,91%, despite everything, Ripple's value increased by as much as 11,04%

Ripple Ready as an option to electronic payments?

Truly, there is much talk of Bitcoin as the most suitable substitute for what are today the traditional payment methods.

The truth is that in one way or another lately it has been shown that at least, as bitcoin is today, this digital currency is not ready or in a position to provide a total and effective alternative to electronic payments that are commonly made.

Ripple and its creators comment that yes, their currency is ready to play a role in this aspect unlike what Bitcoin is contemplated.

Ripple does not focus on convincing others to trade crypto in its favor. Rather, it is touted as the ideal medium to transfer crypto and currencies in general with very low fees.

As we said at the beginning of this post, They comment that they are trying to do for money, exactly what the Internet managed to do for forms of information all over the world.

It is promoted that Ripple is designed to achieve the connectivity of different payment systems between them.

Something that makes a difference

This currency is making a difference by using a common system, with the same characteristics to operate between banking networks. Banks use their network to carry out transactions within a country, but it becomes more difficult when the dynamics turn international.

The Username que utilizará el servicio tendrá la desventaja de que el costo operativo será alto.

Ripple will use a system through Gatehub, which is its interbank connection for those who are being included in its network to use its protocols.

The currency exchange will be carried out automatically after the transfer with an availability in seconds of the money for its recipient, without a high cost in the operation.. It is very advantageous for both clients and entities in the Ripple network.

It is easy to see that being such a disruptive common system, it is revolutionizing crypto trading, being of special interest in stock exchanges around the world.

A less pure decentralization

OpenCoin is the entity that developed both the Ripple cryptocurrency and its protocol. Another of the main differences of this currency with respect to others of its type, It is the high dependence on OpenCoin that it presents.

En el caso de esta criptomoneda, no puede presumir de un tipo de descentralización tan grande como si lo hicieran otras de su tipo. Sea cual sea el caso, el source code está a disposición de quienes planeen modificarlo y hacer uso de él. Cualquiera puede configurar un server Ripple para que funcione como un nodo.

For many, the fact that they are not completely decentralized is very unfavorable for the cryptocurrency in question., puesto que su valor estará intrínsecamente ligado al destino de la compañía que ejerza domain y autoridad sobre ella.

There is another opinion that having this coin with a backup figure gives confidence.

Who is looking at Ripple today?

Financial entities of international caliber have joined the use of Ripple protocols for the development of real-time operations between networks and currency exchange.

Many banks are using this cryptocurrency to ensure excellent services to their clients., high speed and the disappearance of intermediaries as exclusive advantages.

YES BANK, Star One Credit Union, SBI Remit, BBVA, MUFG, eZforex.com, are some of the prestigious international financial organizations that are adding it to their client networks.

There are already more than 50 entities that are using Ripple. Inclusive grandes como Google Ventures ya han invertido millones de dólares en su mercado.

How are Ripples purchased?

This digital currency presents a very similar form of negotiation compared to others.

You go to an Exchange, which has the functionality of a financial market, where it is feasible to compare cryptos.

We suggest Changelly for your safety, extremely easy to use and will accept other types of crypto as payment.

You will have to proceed to open an account on the platform, select how much XRP will be compared, with what currency it will be paid and establish the wallet to receive the XRP.

They could be left in the Exchange wallet, although it is advisable to direct the XRP to a personal wallet.

Other recommended exchanges would be Bitstamp and GateHud, specifying that they will allow the purchase of XRP not only through cryptos, but also with fiat money (euro, dollar, etc.)

Reasons to invest in Ripple

Let's look at some reasons that we consider obvious to invest in Ripple this year.

• It competes for its placement as the second cryptocurrency in the market. Not only is its price taking off, but it has risen in terms of capitalization.
• Ripple is synonymous with speed and also security. Just to mention that using Ripple it is feasible to make an international payment in just 4 seconds, it is enough to understand this fact.
• The cost of transactions on Ripple is greatly reduced compared to other cryptos.
• Presentar un Blockchain con alta tecnología, of the best.
• It is a very stable cryptocurrency and its network has been joined by important banking organizations and several financial groups.

With everything said so far There is no doubt that we are facing a singular cryptocurrency.

The great trust that traditional banking has placed in Ripple, places this digital currency in a position of great importance today, and it is undoubtedly a more than interesting option to attend, follow closely and invest in it.

What future will Ripple have in the market? There will always be uncertainty when it comes to talking about crypto and its future.

Whatever the case, experts comment that the very determining characteristics that make XRP different from other virtual currencies, will allow you to maintain your position in the market, even with the presence of rises and falls in its price.