5 reasons why Ripple should be the top in the cryptocurrency portfolios
Apr 10, 2018 Posted / 2326 Views
Ripple company was founded in 2012 by Chris Larsen and Jed McCaleb. It is one of the cryptocurrencies which is decentralized but a bit different because it is also somewhat centralized. The transactional fees in Ripple are very nominal when compared to the transactional fees of the Bitcoin. XRP is the transactional protocol of the Ripple. Ripple has become one of the most famous cryptocurrencies after Bitcoin. It is also being used by various companies like Unicredit, UBS, and Santander also the banks and the different payment methods have adopted Ripple.
Even many of the financial professionals believe that Ripple is one of the most reliable cryptocurrency after Bitcoin.
The Ripple coin, XRP is also entitled to be one of the most used coins of the cryptocurrency market. As the transactions on ripple blockchain are very smooth, fast and cheap, it is clear that Ripple is one of the flawless cryptocurrency. The current price of the ripple, i.e., $0.49 appears to be very cheap. Owing to its lesser transactional fees and cross-border payments system it is most likely to be adopted on a large scale in the coming future. Here are a few reasons why we should be investing in Ripple.
The collaboration between ripple and Bithumb-Korea Pay Service
Bithumb is one of the most significant South Korean exchange. Recently it entered into an agreement with the Korean Pay Services which enabled the users to employ cryptocurrency transactions across various stores across the country. This collaboration is estimated to escalate the price and amount of transaction of the cryptocurrency at an exponential rate. The recent news in South Korea is acting as a catalyst for the people to invest in the cryptocurrencies. Adding on to it, the size of the cryptocurrency XRP has also increased by the adoption of XRP by Bithumb. Not that long ago, a few of the dealers of South Korea had foreseen the price of Ripple to rise to 100%, and the same trend seems to be repeating.
Ripple preferred by London Block Exchange and Uphold
Uphold earlier known as Bitreserve; A crypto bank provides a provision for the users to convert cryptocurrencies to various currencies of many countries throughout the world with the minimum amount of transaction fees. It has also enabled Ripple to be held without paying any transaction fees. It also provides a provision for exchanging Ripple with 7 other cryptocurrencies, 23 fiat currencies, and 4 precious metals. Also United kingdom's only cryptocurrency exchange the London Block Exchange has also included Ripple so we might expect the prices of it to go up.
Central Bank of Netherland also considers ripple to be suitable for it
The ripple blockchain is already being used by two of the most prominent banks in America and Germany. Ripple is also being undertaken as a pilot project by various financial institutes for its implementation. Netherland’s Central Bank has also recognized Ripple as a viable solution for its payment systems.
The partnership of Ripple with Western Union
The alliance of Ripple with three prominent money transfer companies was announced by Brad Garlinghouse, CEO of Ripple in January. One of the money transfer companies was Western Union. Both Western Union and the ripple company are looking forward to providing better facilities to their users worldwide. The western union app has also facilitated the money transfers through its 500000 agents spread throughout the world. The funds can also be transferred at a very high rate by the use of this app.
The HODLing of coins will further raise the price
Due to the news in the cryptocurrency market relating to the Ripple’s frequent alliance with most of the prominent financial companies has increased its value in the investors perspective. People are HODLing onto their Ripple coins which will indirectly boost the Crypto’s market.
In a nutshell, we could see the potential of the Ripple blockchain is tending to reach skies. It would be an excellent opportunity for the investors and the traders to invest in the ripple cryptocurrency due to the above-mentioned reasons.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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