The Ripple platform was originally developed as a network innovative technology to simplify all kinds of financial transactions.
Ripple (XRP) overview
Many banking associations and financial consortia use the system to reduce costs in international transactions. The effectiveness of Ripple is much higher and more economical than SWIFT.
In the current reality, more than 300 banks and large investment funds have believed and connected to the system. The platform enables users to make: currency conversion with a minimum commission, online payments all over the world. Transactions are made at lightning speed, more than a thousand per second.
The conversion mechanism is quite simple: with the help of the Ripple platform, the client acquires virtual tokens for the funds that he wants to convert, after which they are exchanged for any necessary currency, with no exchange differences and losses.
Ripple is traded on many trading platforms in the status of a full-fledged crypto currency. Last summer, the Ripple rate showed an unprecedented growth of 3,000%, reaching a total capitalization of $ 9 billion, so the coin is included in the top of the most promising crypto-coins for investments in 2018.
What is Ripple?
Ripple (XRP) price forecast and its prospects for 2018
Speaking about forecasting Ripple growth and prospects for 2018, it is necessary to mention that this is the only existing cryptocurrency that can be paid today for a purchase of gold and other precious metals in partner banks that have joined the XRP platform.
The company’s office is located in San Francisco and nine other world financial centers. This indicates the seriousness and significance of the Ripple structure.
In addition to the planned development and forecasting of the growth rate of up to $ 8 per 1 XRP coin, an increase of the system partner banks that use the platform in transactions, and other promising features, there are some risks.
They are expressed in the semi-legal state of the crypto-currency market in some countries and a creation of barriers to development. As a rule, we are talking about restrictive actions of the Asian governments of China and South Korea.
Also, seeing the successes of the Ripple platform development and such a rapid capitalization, many large world bank consortiums can unite and issue their own digital currency.
But these are global forecasts and complexities, without which there is no real development. According to world financial analysts, the potential of the cryptocurrency is huge and Ripple is still in the waiting mode for explosive growth.
How to buy Ripple in 2018
You can become a holder of Ripple tokens in several different ways. On exchanges:
where it is possible to buy and sell the coins without any restrictions and without the difficulties in registration. One can buy coins for USD.
The replenishment of the balance sheet and withdrawal of funds are simplified, even when handling large amounts.
To do this, you will need to create a wallet in the Ripple system, for the most simple you will only need E-mail.
You can buy coins directly from your personal cabinet. For detailed instructions, see the video below:
Some crypto exchanges have a minimum deposit limit of $ 10 or $ 50 US dollars. It is noteworthy that many exchanges do not accept payment by bank cards.
How and where to store Ripple
Having bought the Ripple crypto currency, a natural question arises: where to store Ripple and how to protect yourself from scammers . Of course, you can leave the purchased tokens on the balance of the trader’s account, but this is not safe.
Online wallets are also dangerous, taking into account a level of cyber crime development. Modern hackers avoid and hack even two factorial identifications without much hassle.
The most secure place for a cryptocurrency is a cold wallet, the program for installing it is downloaded to your personal computer.
Another modern way of storing Ripple and other crypto currency is Ledger Nano S, or an electronic wallet. This compact device, like a regular USB flash drive, can be purchased in many online stores. It comes with accessories, cable and annotation.
Is it possible to mine Ripple (XRP)?
Considering the fact that Ripple cryptocurrency is not based on Blockchain, but was created on a completely different technology, it is impossible to mine it.
In total there are 100 billion units of XRP, which were extracted at the development stage. Until the end of 2017, there were less than half of the coins available on the market. The remaining XRPs were forcibly blocked.
The developers have made a decision: from January this year, to throw up to one billion tokens from the blocked volume.
Such a policy can agitate the market and periodically lead to a depreciation of the currency. But regular infusions should cause speculative interest of traders on the stock exchange, which will try to make money on fluctuations of the exchange rate.
With a monthly infusion, the cyclical stability of the exchange rate fluctuations will be ensured. Traders will be waiting for the XRP throw to play on the rise and fall, which in theory should trigger a smooth increase of the currency value.