We have all heard about Bitcoin, how it went from $1 for 1 BTC in 2009 to $9, 000 plus for 1 BTC in 2020.
But there are other exciting cryptocurrencies that you can find in the market.
In today’s guide, we will look at the Price of Ripple, we will explore what is ripple and how to invest in ripple and make a serious profit before the Price of ripple explodes.
Meanwhile, should in case you fancy Ethereum, read my guide on how to invest in Ethereum and make a serious profit.
And if you are interested in stock investing then read this guide on how to invest in NSE (Nigeria stock exchange market)
What is Ripple?
Ripple is a cryptocurrency that is known in the market as XRP and was initially released back in 2012.
The technology behind Ripple is so awesome that it can handle 1,500 transactions per second, every day.
Whereas Ethereum takes about 2 minutes and while Bitcoin for about an hour.
Moreover, XRP (Ripple) is a financial tech company that offers payment services to banks and other financial institutions worldwide.
The major aim of ripple software is to create a network for money and value to be shifted quickly, securely, globally, and cheaply.
But then, unlike Bitcoin and most other cryptocurrencies ripple does not need to be mined.
Instead, the two founders Jed McCaleb and Chris Larsen decided to create a capped supply of 100 Billion Ripple.
This amount of XRP is held and distributed by the company to the public.
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Who are the founders of Ripple?
The two founders of XRP are Jed Mccaleb and Chris Larsen.
Meanwhile, after they provided 100 billion ripples they decided to own 20 billion ripples and then distributed the 60 Billion to the public.
This caused a disharmony over the years as people say it was unfair and they doubted the success of ripple.
It is because the two founders of Ripple John McCaleb and Chris Larsen have the power to manipulate the Ripple price in the market.
Meanwhile, the main aim of Ripple is to target banks and other financial institutions, although traders can purchase ripples.
So far, ripple has signed themselves with over 100 banks and other financial organizations.
These include some big names including
- American Express,
- Start one credit union,
- BBVA (Banco Bilbao Vizcaya Argentaria),
- Cambridge global payment, and
- Google Ventures.
One of the notable advantages of ripple is that it has an enhanced technology and the Price of ripple is much more affordable than other cryptocurrencies. Which makes it attractive to crypto speculators?
When to Invest In Ripple amidst Ripple Price
The impressive progress of both Ripple technology and the cryptocurrency should give investors and traders optimism.
Amidst the current Ripple Price. Now is the right time to invest in ripples.
Ripple has managed to develop a volatility market, meaning it has the ability to withstand pressure. Any progress that it makes should increase its value.
Thereby investing in ripples now when the price of ripples is below $1 is a big shot, but then it is a long term investment.
Because it may take 5 years more to make serious profit from ripple.
Investing in ripples now may turn you to in becoming the next Erick Finman,
Erik Finman The Teenager Bitcoin Millionaire
If you don’t know who he is just know that Erick Finman borrowed $1,000 and bought bitcoin when it was $12 in 2011 and then when the price of bitcoin explode he became rich.
Erik borrowed $1000 from is grandmother with the influence of his brother at the age of 11 when the price of Bitcoin was $12 for 1 BTC.
He bought and invested in Bitcoin with the money he borrowed. At the end of 2013 when 1 BTC is no more $12 but now worth $1,200. Erik Finman made a fortune
Then, in 2015 he had is own education company of which he sold later and was given the choice of accepting $100, 000 or 300 BTC. Surprisingly, he took the Bitcoin.
Erik achieved his goals of becoming an 18-year-old-millionaire and like he always said he won’t be going to college anymore, that he is happy learning from life experiences.
How to invest in ripple
Since ripple unlike other cryptocurrencies cannot be mined, there are two primary ways of investing in ripple.
- Buying and stocking ripples and
- Trading ripple
How to Buy Ripple
To buy XRP ripple make a choice from the list of platforms to buy and sell cryptocurrencies.
- Create and verify an account with your preferred platform
- Fund your account
- Buy the number of ripples you want to invest in ripple and hold.
How to Trade ripple
Trading is another way to invest in ripple. It is the same as trading any random cryptocurrency. It involves the following procedures
- Open a trading account with any crypto trading platform of your choice
- Fund your account
- Enter your preferred investment amount
- Start trading (buy or sell)
The basic goal of trading ripple is to buy a larger amount very cheap and sell whenever there’s a reasonable or slight profit margin.
In cryptocurrency Trading, you earn and lose the same time depending on your strategy.
Let assume u bought 1XRP at N20,000 and then XRP now increases. You then trade it for N40,000, you have actually gotten N20,000 interest on fiat currency. Bravo.
But remember that you will still buy, and for sure you can’t buy 1XRP for N20,000 again.
The price increased and you sold so that means you’re gonna buy at the new Ripple price.
So you lost in Ripple and earned in Fiat… 🤝🏼
That’s the strategy is either you are planning to earn in fiat or earn in Ripple.
Note that when you sell high, the buyer is not loosing, they lost in fiat but will earn in cryptocurrency.
Difference between Ripple and Bitcoin
- Ripple is faster in processing transactions than bitcoin (it can execute 1,500 transactions in seconds)
- Ripple is more energy-efficient than Bitcoin
- Ripple is a centralized coin whereas bitcoin is decentralized
- The total value of bitcoin stands at approximately $270 million whereas ripple stands as $100 billion
- Ripple wants to change How we pay, but bitcoin want to change what we are paid with
If you have missed investing in bitcoin then you shouldn’t miss investing in ripple. Besides, ripple is a centralized coin and is widely accepted by banks, and that’s a good reason you should accept it.
Ripple price as been inflating with time, I started buying ripples as of when it was around N80 per ripple and now the current ripple price is now N144 as of when I am writing this.
That’s already I have made a slight reasonable profit on the early stage of ripple investing.
So now that the price of ripple is quite cheap try to accumulate as much as possible, because of the ripple as a future.
Now is the Time, Invest in Ripple.
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