I know what you’re thinking: There are already too many cryptocurrencies out there, and most of them are failing miserably or have just been launched and aren’t gaining any traction.
Why should I take the time to learn about XRP? XRP is different from most other cryptocurrencies on the market as it was created by one of the biggest financial companies in the world – Ripple Labs.
Here’s why you should keep an eye on XRP in 2022 and beyond.
What is Ripple?
Ripple is a real-time gross settlement system (RTGS), currency exchange, and remittance network by Ripple.
Ripple Transaction Protocol (RTXP) or Ripple protocol is built upon a distributed open-source Internet protocol, consensus ledger, and native cryptocurrency called XRP (ripples).
Released in 2012, Ripple purports to enable secure, instant, and nearly free global financial transactions of any size with no chargebacks.
It supports tokens representing fiat currency, cryptocurrency, commodity, or any other unit of value such as frequent flier miles or mobile minutes.
Ripple strives to act as an inter-ledger between payment networks at its core.
How to Buy XRP Cryptocurrency?
New investors often ask where can I buy XRP?
You can buy XRP on popular cryptocurrency exchanges such as Bitstamp, Kraken, and Gatehub. You can also find it on various international fiat exchanges like BitOasis and Coinone.
Before you make your first purchase, you’ll need to have an XRP wallet or address where you can store your new coins.
We recommend using Gatehub because it supports multiple types of wallets (including Ledger Nano S hardware wallets) and is easy to use.
The first step to buying any cryptocurrencies like XRP on Gatehub is creating an account and confirming your email address.
How to Store XRP CryptoCurrency?
Storing XRP is as easy as storing other cryptocurrencies like Bitcoin. On your first time going to your wallet, you will be prompted to write down a secret passphrase.
This is used for recovering your wallet if it’s lost or stolen. You may also want to consider printing out multiple copies and storing them safely so that you don’t lose access to your XRP.
You can do both of these by using something called a paper wallet. Many online services offer cold storage solutions, but why not use technology to secure your money?
The Current State of XRP
If you’re like me, you’ve read about XRP for years but never really knew anything about it.
You likely dismissed it as a banker’s coin or some kind of scam that banks had engineered to bring cryptocurrency into disrepute. And there are plenty of reasons why that might be true.
But recent months have seen a dramatic increase in activity around XRP and Ripple Labs, which many believe will move Ripple out of crypto purgatory and into mainstream adoption. Here are three reasons why
It can be used as a bridge currency to move money from one country to another. While Bitcoin can also be used for cross-border transactions, it’s slower and far more expensive than XRP.
2. XRP can be used as a bridge currency to move money from one country to another. While Bitcoin can also be used for cross-border transactions, it’s slower and far more expensive than XRP.
Banks are already using Ripple’s technology to facilitate international payments, which means that banks will likely adopt XRP as a tool for facilitating global transactions.
As more and more banks use XRP, its value will increase dramatically-as will demand on exchanges.
3. Ripple Labs has announced a partnership with Amazon Web Services (AWS) to use XRP as a bridge currency for moving money between international banks.
There are also rumors that Ripple will be listed on Coinbase, which would increase demand for XRP even further.
If you’re still on the fence about XRP, it’s time to start taking it seriously. It could be one of those cryptocurrencies that moon and make you rich overnight.
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