It is no secret that we are currently living in an age of the cryptocurrencies. What started off as a small phenomenon has now become a true craze all over the world. As a result, there is hardly anyone who has not heard about Bitcoin or Ethereum. But, what about the third key player – Ripple XRP. Understanding Ripple XRP is somewhat tricky at this moment, given how it is still gathering its momentum. However, many view it as an up-and-coming rival to the most popular cryptocurrencies, especially Bitcoin. If you are thinking to buy Ripple XRP UK below are some information to better understanding what it is alll about.
While Ripple XRP is a type of cryptocurrency, Ripple itself is a type of payment network, specifically designed to negate the shackles of conventional financial institutions, like credit cards, banks, or PayPal, all of which are notorious for rather slow transactions. Furthermore, this is also a problem that has been lately plaguing Bitcoin too. While it usually takes more than 2 hours to settle Bitcoin, Ripple, on the other hand, takes around 4 seconds on average. Additionally, Ripple XRP transaction costs are also lower than Bitcoin transaction costs, which basically means a better return and a more viable solution for the investors.
The costs of Ripple XRP
In the last few months, Ripple XRP has seen a massive growth. Only during the last month, the value of Ripple has risen by more than 1000%. From a broader perspective, the value of Ripple has been on a constant rise since its start in 2016. On the other hand, since 2016, Bitcoin has seen a value growth of around 720%. Even though still in its infancy, Ripple is viewed by many to be the next Bitcoin. It is also worth mentioning that, regardless of its massive growth, Ripple still holds a vast supply of XRP, which can be frozen, if necessary. As a result, investors can have a sense of certainty that the market will not abruptly crash and end up being flooded.
The future of Ripple XRP
The future of Ripple and Ripple XRP definitely looks bright. With the rising values, Ripple continues to heavily invest in the network and steadily improve it. It also successfully establishes strong partnerships with international companies and firms, thus strengthening its global presence even further.
Thanks to its involvement and partnerships with numerous firms and institutions in Asia, especially in Japan, Ripple technology will be most likely used by almost 40% of banks and other financial institutions in Japan and South Korea. Within the next 2 or 3 years, it is expected that Ripple will be used to underlie cross-border payment services for millions of commercial and retail customers.
A continuous growth
As Ripple and Ripple XRP begin to make a name for themselves, their network keeps growing and becoming more and more prominent. Therefore, it is no wonder why it has become one of the best buying opportunities. Of course, Ripple still has some catching up to do with Bitcoin, given how the latter one has been exposed for more than 8 years, while the former one has been for no more than 5 years. But, if this trend continues in the same fashion, we can surely expect Ripple to grow even more.…