XRP is a token that represents the transfer of value over the Ripple Network. Ripple is both a currency and a platform. The platform is an open-source protocol that enables quick and low-cost transactions. Interestingly, XRP is Ripple platform’s own currency, but it also allows anyone to use its platform for developing their own currency using RippleNet.
XRP has been developed to be a mediator for other fiat and cryptocurrency exchanges. Interestingly, Ripple has built a bigger reputation for its digital payment protocol than for its cryptocurrency. It runs on a peer-to-peer and open-source decentralized platform. This platform enables easy transfer of currencies in any form including Bitcoin, Litecoin, USD, or any other fiat or cryptocurrency.
You should know the following points about Ripple and XRP:
Ripple is quite different to other cryptocurrencies. You can use the platform for exchanging USD to EURO, USD to Bitcoin, and between other fiat and cryptocurrencies. Every transaction involves the disappearance of $0.00001 from the platform. This amount disappears forever and cannot be recovered. This is part of its design to prevent spam attacks.
The unique features of the XRP provide it many advantages over other alternatives. Explore the Pros and Cons of this cryptocurrency and platform:
Some of the points that are in favor of XRP are as follows:
The main cons of XRP are as follows:
As already mentioned, XRP is currently an affordable cryptocurrency to invest in.
Buying on an exchange is the simplest way to invest in XRP. Due to its low price, it is best to buy it and forget about it for a long time before the prices rise high. You should keep in mind that Ripple can be purchased only with another cryptocurrency and you will need a digital wallet to buy it.
European investors ready to take the leap into Ripple and get their hands on XRP tokens can register for free today at Virtuse Exchange.
With Ripple, XRP, you can also invest in startups or companies. You should identify crypto startups that are expected to become big in the future.