Since the introduction of Bitcoin (BTC), more cryptocurrencies and blockchain solutions have been introduced to the blockchain market. With an abstract knowledge of the products these coins offer, most people have difficulty understanding the solutions offered by blockchain technology firms.
A poor understanding of the product may lead to a poor decision for those who wish to invest in these products. Ripple, a Blockchain technology firm, offers remittance solutions as its unique product in the industry.
So should you invest in Ripple’s native coin, XRP?
To answer that question you need to first think, why should I invest in XPR? And what are the benefits of XPR?
The main reason you would want to invest is to grow your money. XRP has shown potential for growth in the near future but more importantly, unlike other cryptocurrencies, Ripple is an established payment protocol company.
Ripple offers a service to users
Unlike most cryptocurrencies that offer no particular product, Ripple provides a remittance solution for users. This service is unique since it minimizes transaction fees to merely cents. The remittance product allows users to seamlessly transfer money globally.
In addition, the transaction takes 4 seconds or less, in contrary to current remittance services that may take days to complete a transaction. With unrivalled speeds and virtually no transaction fees, XRP investors will surely increase.
More banks are adopting Ripple systems
Ripple also provides solutions to financial institutions. This is helpful for banks which need additional liquidity to conduct their operations with stability. Also, its systems use xCurrent, a blockchain software solution for banks to transfer funds globally to other banks while tracking the transactions in real time. The secure platform with a unique consensus model has attracted over 100 banks which have adopted the xCurrent system.
XPR is Premined
Unlike other cryptocurrencies, XRP is premined, that is, the number of XRP coins is predetermined, limited, and cannot be reproduced. There are 100 billion coins produced by Ripple which are released gradually for use, while some are kept in a publicly accessed escrow for transparency. Ripple’s market cap has grown and is currently the third largest in the cryptocurrency market. It’s value is growing and instead of waiting for the exchange rates for the limited XRP coins to soar, it would be the best time to invest.
Put simply, the XRP Ledger is based on an inherently decentralized, democratic, consensus mechanism — which no one party can control.
Ripple continues to work on its already stable system to ensure that its systems are fully decentralized with an increased number of transaction validators. This move will ensure that the operations on Ripple’s platform continue uninterrupted and independent of the firm. As such, the users significantly participate in the growth of the coin.
Compatibility with payment systems
Ripple’s remittance systems are compatible with existing payment systems, and therefore, will attract more users faster and quite easily. With more users, the system will surely advance.
Amazingly, Ripple continues to add to its number of customers, with over 100 banks signing up for the products offered in its platform. Since the systems are scalable and offer fast transaction speeds, banks which handle huge amounts of money will find the secure platform reliable.
With such stability, the value of Ripple’s XRP will surely grow, and with its relatively low exchange rate, this would be the best time for you to invest in XRP.
Also, peer to peer transactions are expected to rise since xRapid platform offers a reliable peer to peer global remittance system. Combining its user growth, secure platform, and unique products will lead to a soaring growth in the value of XRP.