[Ripple XRP] All you need to know about second largest cryptocurrency

Ripple XRP Cryptocurrency

                      [Timeline of Ripple Cryptocurrency]

  • In 2004 Ripplepay was developed by Ryan Fugger.
  • A currency system was developed by Jed McCaleb in which the transactions were verified by consensus among members of network rather than by mining process followed by Bitcoin and the month was May 2011.
  • Chris Larsen was hired by Jed McCaleb in August 2012 and they started working on the digital currency idea.
  • OpenCoin was founded by Chris Larsen and Jed McCaleb in September 2012.
  • OpenCoin closed it's angel round of funding on April 11,2013.
  • OpenCoin announced that it had closed the second round of angel funding on May 14,2013.
  • Jed McCaleb separated from active employment with Ripple in July 2013.
  • OpenCoin officially changed it's name to Ripple Labs,Inc on September 26, 2013.
  • US $700,000 penalty was charged to Ripple on May 5, 2015 by US Treasury's Financial Crimes Enforcement Network for wilful violation of the Bank Secrecy Act.
  • Rebranding from Ripple Labs to Ripple took place on October 6,2015.
  • Ripple became the fourth company with BitLicence on June 13,2016 by obtaining virtual currency licence from New York State Department of Financial Services.
  • Ripple raised $55 million in funding in September 2016.
  • Ripple announced it's future plan of creating The Global Payments Steering Group on September 23,2016.
  • Ripple announced that multi billion dollars banks including BBVA have joined hand to solve problems which include speed,scaling related issues and global transaction related issues in April 2017.
  • R3 sued Ripple in September 2017.
  • Ripple and American Express partnered in November 2017 to create a block chain based payment infrastructure.


[Ripple XRP cryptocurrency facts you can't afford to miss]

  • The only cryptocurrency designed for Financial Institution and Payment Companies.
  • In USA ,Ripple is considered one of the most valuable startup.
  • XRP acts as bridge between Fiat currencies.
  • Banks are getting benefited by XRP as it is helping them to develop a common standard of payments.
  • XRP has an average settlement time of only 5 second.
  • XRP provides a robust and reliable payment mechanism.
  • To develop a robust payment mechanism XRP has partnered with more than 10 digital exchange.
  • XRP doesn't follow the process of mining as all the units are present.
  • 100 billion Ripple, a cryptocurrency will be created as per the company guideline .Fifty percent Ripple coins will be in circulation and the remaining will be retained by the company.
  • One unique quality of Ripple which is making the currency very popular is not collecting transaction fee.On the other hand credit cards,banks,PayPal collect transaction fee.

  • Ripple XRP is positioning itself in the market as a complement to Bitcoin.

[Where can you buy Ripple XRP cryptocurrency?]

All the popular cryptocurrency exchanges gives you an opportunity to buy Ripple XRP. Poloniex,Bittrex,Kraken are few well known cryptocurrency exchange.Guys If you are interested to hold Ripple for long time then its better to use Ledger Nano S as a hardware wallet.The reason behind recommending hardware wallet is its ability to be more secured due to offline nature of its presence as compared to other online wallets.If you are a daily trader of cryptocurrency like Ripple XRP then you don't have any feasible option but to use online wallet.Online wallet always carries risk quotient due to internet connection.For me the best way to buy Ripple cryptocurrency is exchanging the coin from Bitcoin.I use Changelly for exchanging Bitcoin or other cryptocurrencies for XRP. 

Register on Changelly by clicking this link

You can use Binance also.Before using Binance cryptocurrency exchange don't forget to read detailed article on Binance by clicking the below link.


[My opinion on investment in Ripple XRP Cryptocurrency]

My recommendation is that you should sure invest in Ripple cryptocurrency. It's unique feature of bank and investment friendly as discussed above gives coin an upper edge.Recently American Express tie up also provides strong support.Only thing you should keep in mind is the number of Ripple coin.As said by the company they will only circulate fifty percent and rest will be with the coin.So they can easily control Ripple XRP price by circulating more and more coin in the market.

 

[A brief introduction of Ripple coin wallet]

Before we discuss about different kind of coin wallet available for Ripple XRP it's better to know that the wallet for this coin is not free like you have for Bitcoin.You need to have a minimum of 20 XRP in your wallet to book Ripple wallet address.


Suppose you have 100 XRP in your wallet then 20 XRP will be used to book your wallet address.Since the wallet address doesn't come free of cost so most of the people uses only one type of wallet unlike bitcoin where even I use multiple wallets.Here you need to understand one thing very clearly that you need to pick up your Ripple coin wallet very intelligently else every time you change your Ripple coin wallet you will lose 20 XRP.




So Let's discuss about Ledger Nano S, a hardware wallet that has recently added support for XRP. To 
my understanding of cryptocurrency domain I can say Ledger is the best hardware wallet available in the market.I have been using this wallet from quiet a few time.The best part of this wallet is its user friendly nature and superlative security.Once you buy this hardware wallet you can use it for various other cryptocurrency like Dash,BTC,Stratis,Zcash,ETH/ETC and recently it started supporting Ripple XRP.

Click the below picture of Ledger Nano S to buy it from Amazon.
Ripple coin wallet

Moving further lets discuss about Gatehub,yet another popular website that allows you to not only store XRP but also buy them using USD or Euro.If you are interested in using Gatehub then please keep in mind to store the recovery key of your Gatehub account at safe place because this is one and only way to recover your XRP wallet once you have lost your password.

Ripple coin wallet

To start operating on Gatehub first you need to create your account followed by submitting KYC.Once done your account will be activated and you can deposit fund in this wallet in USD or Euro and start buying XRP directly from Gatehub.


Last in my list is Binance .It's chinese cryptocurrency exchange.Started in mid 2017 and considered to be the fastest growing cryptocurrency exchange.The best part is you can claim 50 percent discount on fee while trading cryptocurrency through Binance.

BinanceBinance Ripple Coin Wallet




                            [Lets discuss Bitcoin VS Ripple]

Ripple vs Bitcoin difference #1-  Bitcoin is decentralized cryptocurrency i,e not owned by any government body ,bank or third party.So no one can end this cryptocurrency even though it was created by someone or some group of person.On the other hand,Ripple cryptocurrency is owned by Ripple company and they have plan of circulating only fifty percent Ripple coin so if they want they can easily end this cryptocurrency.

Ripple vs Bitcoin difference #2- Ripple XRP was created with an intention to make bank transaction and Payment companies more efficient.On the other hand,Bitcoin was created as a means of storing value.

Bitcoin vs Ripple

Ripple vs Bitcoin difference #3-  Bitcoin transaction duration is 10 minutes as compared to Ripple XRP transaction time of just 5 seconds.

Ripple vs Bitcoin difference #4- You can be rewarded Bitcoin by mining but their is no such option in case of XRP.

Ripple vs Bitcoin difference #5- 20 XRP is the charge of obtaining Ripple transaction address i,e each time you change your Ripple coin wallet you have to pay whereas you can use wallet free of cost for Bitcoin.


Above are the major differences according to me .Kindly do let me know for other differences between Bitcoin and Ripple.










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