Ripple is the newest cryptocurrency that has caught the world’s attention. The reason behind this is that Ripple isn’t just a crypto, but a payment network as well. XRP creators have made it easier and more affordable to do cross-border payments than ever. Using a network of pay providers and registered banks, RippleNet aims to surpass traditional methods of payment.
Keep in mind that XRP is only sold to financial institutions and banks, but investors can get it on various cryptocurrency exchange platforms, including GateHub which recognizes the potential of Ripple as an emergent cryptocurrency. Discover more from the clearinghouse opinion on gatehub wallet and exchange built on the Ripple protocol.
XRP is gaining steam due to the following features and apparent benefits:
Transaction Speed
First and foremost, a crypto must be able to reduce the speed at which the payment is sent and registered. Ripple does this in mere seconds instead of days, even in cross-border transactions. The Ripple XRP boasts a transaction speed of 4 seconds, which is lightning-fast even when compared to Bitcoin and other popular cryptos.
Lower Cost
Ripple is accessible as it can be converted to mainstream assets, including fiat currency and precious minerals such as gold. Individuals who want to transfer money gets a conversion of native fiat to XRP. Fees are another thing; while popular cryptos such as ETH and BTC continues to rise, Ripple offers low fees in order to acquire greater customer base. This competitive feature benefits early adopters and those who’d want the lowest possible transfer fees.
Absolute Certainty of Transfer
You won’t have to worry about bounced checks as is the case with many traditional banks. Ripple has eliminated the risk by harnessing the power of blockchain in their XRP cryptocurrency, ensuring a made transaction for both the sending and receiving party. Banks won’t have to lose money on deposit or owe other banks money for a failed transfer.