While many are wondering when the bearish phase of the crypto market will end, many are currently pondering over which cryptocurrency is the best to invest in, this new year. If you have doubts about whether to buy Ripple, this year, we might be able to help you out.
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XRP is the digital asset that runs the Ripple network.
Here are ten reasons why you can invest in Ripple, this year.
1.Ripple Transaction Protocol
XRP can be used in the Ripple Transaction Protocol, which is used not just for transacting digital currency but also money and information. The receiving person’s agent would be responsible for moving the money along to the intended recipient.
Ripple simplifies that process by issuing a monetary payment through a digital channel.
Investing in Ripple is a good idea because, both parties, involved in a Ripple transaction, have access to a secure channel, which boxes out any potential threat. That is the reason which makes Ripple an incredibly effective, secure monetary exchange that empowers individuals.
3. Ripple Is a Best Friend to Banks
Cryptocurrency is on the rise, yes but it is not likely that the banking system based on fiat currency will lose its sanction anytime soon. Ripple has already made huge leaps in this area and has already been adopted by 100s of banks, some of which include MUFG, BBVA, SEB, Akbank, Axis Bank, Yes Bank, SBI Remit, Cambridge Global Payments, Star One Credit Union, eZforex etc.
This makes Ripple, which is gradually picking up more momentum to be the first digital currency to be adopted by so many mainstream financial institutions.
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4. The team
Many digital currencies fail to advance because their leaders don’t know the right people or methods to establish its value for both investors and cooperations. With two well-connected founders who used their complex networks, Ripple quickly attracted venture capital and major investors.
5. Institutional investors
In 2015, Ripple raked in $55 million in venture capital in just one funding round, two of whom are Google and Apple.
In Ripple, they saw an opportunity to simplify and secure payments.
And so do the other venture capitalists that are pouring money into Ripple. The names backing Ripple — Andreessen Horowitz, FF Angel IV, and Lightspeed Venture — have stood behind dozens of lucrative startups, including Airbnb, Asana, BuzzFeed, Coinbase, Facebook, Twitter, and Snap.
As XRP has a comparatively lower price, it is one of the most attractive coins to purchase and hold. Bitcoin, for example, is overpriced for an average investor while Ethereum, Bitcoin Cash and Litecoin are equally not cheap to invest in. You can buy Ripple coin with as little as $0.50.
7. Return on investment
Ripple is one of the coins with very great potential for a good return in investment. Last year, Ripple had performed a lot better than a lot of coins. It grew by more than 36,000% while Bitcoin came out 14th on the list of best performers with a growth of a little over 1,000%. Even though the coin has since dropped in price, this only goes to show how much growth the coin can attain.
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Ripple being a third generation blockchain can process transactions within 4 seconds while the now outdated SWIFT system took 2 to 3 days to confirm a transaction.
It can also process 1500 transactions per second.
This is far more than the 15 transactions Ethereum can process and around 7 that Bitcoin can do.
Ripple, thanks to its popularity now is available for transactions at almost all crypto exchange platform, which is another reason why buying crypto may prove to be a wise idea.
10. Development Potential
The Ripple Plan for XRP provides the XCurrent tool first. Subsequently, after the liquidity requirements are sufficient, financial institutions and banks can choose to switch to the XRapid tool, which implicitly uses the XRP currency.
One of the objectives it proposes Ripple this year is listing XRP on as many exchanges. This will create more liquidity for the XRP currency.
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