Nowadays, many people especially investors and traders treat Digital Currency as the next big thing in business, and it starts to gain people’s awareness and trusts globally. However, there are already over a thousand of registered cryptocurrency as of this moment, so it is better to understand it first before you invest. In this article, you will learn the five essential reasons why you should put your money in cryptocurrency Ripple.
It Has Large Market Capital With Cheap and Affordable Price
Ripple is the third largest cryptocurrency regarding market capital, but it offers a hundred folds lower price compared to the leading two cryptocurrencies. It is an opportunity for investors and traders especially for the newcomers to invest in Ripple while the price is at low stage. Many people grab this timing since bitcoin has started to slow down.
It Has a Very Promising Performance
It gains a massive increase in the last week of December 2017 and first week of 2018 which hit its all-time high of $3.20, then it started to decrease until February, but it never went down to its lowest performance. In fact, it starts to climb up since first week of the month. Ripple will surpass the largest cryptocurrency if it hits $7. Many investors anticipated that Ripple would soar high this year.
It’s Providing a Service and Banks May Need Cryptocurrency
Ripple provides a fast transaction to send or transfer money globally by using blockchain which they called a frictionless experience. The service will enable businesses to make their customers or clients payment globally in a fast, reliable, and cost-effective way. Another edge of cryptocurrency Ripple over its rival is that it is working with big financial institutions like banks which gives a sense of legitimacy, credibility, and practicality.
Recently, Saudi Arabian Monetary Authority partnered with Ripple payment tech which is marked as the company’s second central bank to work with following the Bank of England who partnered with Ripple last year.
It Is Unique From Other Cryptocurrencies
Ripple is very different from its rival because mining doesn’t generate it. It has a limited unit of 100 billion and 99% of it has already produced. More or less, 55 billion of the said figures will be dispersed and distributed to the users. It’s using the same approach with the two leading cryptocurrencies that if you want to invest and buy Ripple XRP, then you should have a digital wallet. XRP transactions are recorded and executed on the XRP Ledger.
It’s Gaining Confidence and Attraction Globally
Ripple XRP is performing well with increasing numbers of exchanges globally which had 60 in its last count. Multiple financial institutions are embracing ripple XRP and more is coming. The company also said that they have a growing channel of businesses that showed interest in using XRP on their payment system like the US money transfer group, Moneygram, that has announced that it’s partnering with the company to test the use of XRP.
It is now indeed the perfect timing to invest and put your money in cryptocurrency Ripple. If you track its performance record, you can see that Ripple was just started to pop-up on the last week of 2017 and it never decreases as down as before. Considering its market capital and price, performance, service, and uniqueness, and the confidence and attraction that it gains globally, you should invest in Ripple today.