13.11.2017
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The current year, as expected, has been very successful for the most popular cryptocurrencies – Bitcoin and . But unexpectedly, Ripple jumped into the top three in terms of market capitalization. And this despite the fact that now its cost is only 20 cents (versus $7,000 for Bitcoin and $300 for Ethereum). But the increase in its value in the current year alone amounted to as much as 3000%. Why was such a cheap currency able to come close to the recognized leaders of the cryptocurrency market? How to buy it and is it worth doing it right now? What's next for the unusual currency? Let's try to figure it out.
What is Ripple and how does it work?
The forerunner of the modern Ripple platform, the RipplePay system, appeared back in 2004. Canadian programmer Ryan Fugger managed to create a decentralized payment platform for a wide range of users. However, despite a good idea, the project did not receive much success, and Fugger decided to go even further - to change the existing system of banking and interbank payments. Or rather, make them decentralized, independent of intermediaries and third parties.
The updated system appeared in 2012 and was named Ripple. The company developing and maintaining the platform was named Ripple Labs. Fugger, together with other developers, created secure decentralized platform for making payments between individuals and even legal entities (primarily banking institutions). In addition, the platform launched its own cryptocurrency, called Ripple with the designation XRP.
The functioning of the system is based on a unique algorithm. Ripple uses its own secure RPCA protocol, which connects different nodes of the system (so-called entry points). It is an open source protocol that allows all users on the system quickly and securely exchange resources(be it dollars, bitcoins, gold or even air miles), make payments and conclude transactions, while paying a single minimum commission in ripples.
The example of an apple and a movie ticket is often used to explain the concept of Ripple. For example, you live in Krasnodar and you have an apple, but you want a movie ticket. Petya has a ticket, but he lives in Toronto. Between you there are many other people, each of whom also owns certain resources. Together you can unite into a single system for exchange. You “launch” an apple into the system - Vanya buys it for a ball - Petya buys a ball for a movie ticket - you get your ticket by giving the apple. In a simplified form, this exchange network of yours is Ripple. You exchange resources with other users and do not depend on third parties.
You give one resource and receive another, paying only the minimum commission that is needed to maintain the system. In the same way, you can exchange a million dollars for bitcoins and pay the same minimum commission for it. It is not surprising that such a system immediately appealed to world banks– such an algorithm can significantly simplify the payment procedure.
That is, in the system itself, ripples act as “fuel” for transactions. To exchange their resources for others, the user pays a commission in ripples. In addition, he can purchase another currency for the same ripples. However, this cryptocurrency is completely different from the usual Bitcoins, Ethereums or .
Features of Ripple as a cryptocurrency
- Ripple cannot be mined. It’s not even that it’s impossible, it’s just that such an option is not provided by the cryptocurrency developers. They themselves mined about 100 billion coins, kept 65% of the mined assets, and released the remaining 35% to the market.
- Ripple does not use blockchain technology. Instead, the system operates on so-called “gateways” through which all transactions pass. Dozens of servers installed in the company’s offices in different countries of the world are responsible for the operation of these “gateways.”
- The mandatory commission for transactions is only 0.00001 XRP. It is noteworthy that immediately after the transaction, this amount “burns out”, that is, it completely disappears from the system. This is done to reduce the likelihood of spam attacks. There is a special category of attackers who send out a huge number of false requests for transactions in order to overload and “crash” the system. And if an ordinary user does not even notice the removal of the commission, then for a spammer who has created many requests, this will result in a round sum. That is, spamming Ripple is simply unprofitable. In addition, the “burning” of coins leads to a gradual decrease in their total number, which contributes to a natural increase in the market value of Ripple. The fewer coins in circulation, the higher their price.
- The popularity of Ripple as a cryptocurrency is determined by the number partner banks, which use the Ripple payment system. So, in 2016, the company entered into a contract with more than 20 banks, and the price of Ripple immediately increased by 200%.
- The meager cost of Ripple today is explained by large number of issued coins. With a decrease in the number of coins and an increase in the popularity of the entire system, the cost of Ripple will naturally increase.
Main advantages of ripple:
- high transaction speed (higher than in the Bitcoin network and even SWIFT);
- the ability to exchange any currency for any other currency or value (for example, gold, shares or even precious metals) with a single minimum commission;
- high level of protection against spam, hacking and hacker attacks;
- impossibility of inflation (all coins have already been mined, it is impossible to get new ones, and a hypothetical excess of coins is leveled by their “burning” when paying a commission);
- reversibility of transactions - any transaction can be canceled or edited if an error was made.
The main disadvantages of ripple:
- high monopolization (Ripple Labs personally owns 65% of existing coins, which gives it the opportunity to manipulate the rate);
- high centralization (only developers decide how many coins to “throw” into circulation right now).
In theory, these shortcomings should work against the developers. By controlling the circulation of coins and manipulating the exchange rate, they cannot make their currency as popular as Bitcoin, the price of which is determined only by user demand. In the case of ripple, the price is essentially set by the holders of the underlying assets, that is, Ripple Labs. However, thanks to the previously described mechanism of “burning” coins, their total number gradually decreases, which means the price of one coin will gradually increase. Another thing is that there is clearly no need to talk about a cost comparable to Bitcoin or even Ethereum. The most positive ones are 2 dollars for 1 ripple.
How to buy ripple?
As we have already figured out, it is impossible to mine Ripple in the traditional sense of the word. That is, you won’t be able to buy an ASIC or a farm and start mining blocks - there are simply no such blocks.
Although there is still some semblance of mining.
By going to the official website of the company ripplelabs.com, you can join scientific developments, supported by the corporation. To do this, you need to “mine” scientific projects - carry out calculations or perform other prescribed actions using computational algorithms. The company regularly pays for the work of such “miners” with ripples.
The second method is more familiar - on a stock exchange or exchange office.
Considering the popularity of Ripple, you can exchange it in almost every place - you can find out about the current offers and rates on the monitoring site BestChange.ru. There should be no problems with exchanges either - Ripple was accepted by all leading players in the cryptocurrency market, including Poloniex, Kraken, Bittrex, Korbit, BitStamp, Coinone, CoinCheck, EXMO, etc.
Where to store ripple?
From the very beginning, Ripple Labs offered users to store cryptocurrency in wallets within the system itself. But most users did not like the idea - only ripples could be kept on the internal wallet. But not everyone was eager to create a separate wallet for the then not very popular cryptocurrency.
As a result, the company closed its wallet, and offered Ripple owners two ways to store currency:
- Download and install special
In addition to the main program, you will also have to purchase a special device that supports the wallet on your computer. Outwardly, it resembles a regular flash drive and costs almost 60 euros. Not so cheap, but the level of security for your wallet increases several times, and the threat of hacking tends to zero. Such wallets are also called hardware wallets (since in addition to the program there is hardware - that same flash drive), and they are produced by the well-known company Ledger. Today, this manufacturer’s line includes two wallets that support XRP – Nano S and Blue. In addition to ripples, they can store bitcoins, ethereum, litecoins, and several other popular cryptocurrencies.
- Create a crypto wallet on GateHub
The resource supports Ripple, but to activate the wallet you will have to provide a lot of personal data: current email address, mobile phone number, real first and last name, date of birth, screenshots of identification documents, and even your own photo. The registration procedure is quite long and tedious, but at the end you will receive several bonuses. So, you can be sure that only you will have access to your wallet - the likelihood of your account being hacked is virtually eliminated. In addition, after registration you will receive 20 ripples as an incentive gift.
How to make money on ripple?
In general, the Ripple system itself and the cryptocurrency associated with it are oriented not for a wide audience of users, but for banks.
The same Bitcoin was created as an alternative to conventional payments, including bank payments. And Ripple technology is aimed specifically at improving the banking payment system to make it faster, more efficient and secure.
However, ordinary users can also make money on ripple:
- Buy Ripple now and sell it when the currency rises in price.
The method is simple, but does not promise fabulous profits in the near future, because now we are talking about meager amounts. However, given the rapid growth of the market value of Ripple and the high level of security of the system, it is definitely worth investing in it. Conventionally, if now, when the price of 1 XRP is 20 cents, you buy cryptocurrencies for $100, then next year, if the rate reaches the expected $2, you will sell the currency for $1000. And this is $900 net profit.
- Invest in the company's developments.
Experts predict that Ripple will soon be used as the main interbank payment system. It is more convenient, secure and faster than SWIFT. Therefore, it makes sense to invest money in the company’s developments in order to then receive legitimate dividends as an investor. Open offers for investors are regularly posted on the company's official website.
The main argument in favor of a successful future for Ripple is stunning growth of its market position. Just a year ago, Ripple’s capitalization was about $200 million, and the coin did not appear in the world’s top cryptocurrencies. Today, the total value of issued coins is estimated at almost 7 billion dollars, and Ripple takes an honorable third place after Bitcoin and Ethereum.
Experts call Ripple and its associated cryptocurrency the payment system of the future.
Already today it is used by such banking giants as UniCredit, UBS, Santander And Western Union. Among the partners of Ripple is even Microsoft, and the corporation Google invested almost $60 million in the company's developments.
By the way, it was the abundant financial influence from a world-famous corporation that became the reason for the sharp increase in attention to Ripple. If such serious people invest in Ripple, then this enterprise is doomed to success.
In the world of cryptocurrencies, there are systems that are attracting increased interest from consumers interested in low-cost transfers, as well as investors who hope to make money by investing their capital in digital coins. Today we will talk about crypto coins of the Ripple system. We will tell you about the principles of operation of this network, what ways there are to make money using this digital currency on the Forex market, and we will try to understand the prospects for investment in the near future.
In order to profitably invest in crypto coins or play on exchange rate differences within short time intervals, you need to understand what digital cash systems are in general, and what features this or that system has.
The rise or fall in price of coins directly depends on the level of interest of network users, and the interest is determined by the specific advantages that a particular cryptocurrency system provides. Such advantages may be: the speed of transaction confirmation, the level of anonymity of transfers, the ability to use the system for some other needs (for example, as a platform for creating cloud services). Therefore, let's start with a description of the Ripple (XRP) system and consider its distinctive features, and then move on to a description of the earning mechanisms.
What is the interest of investors
The raison d'être of all cryptocurrencies is to provide their users with the ability to quickly and inexpensively transfer money around the world. Banks also pursue approximately the same goal, but their similar services, firstly, are much more expensive, and, secondly, banks cannot provide the proper level of anonymity and require too much personal information from the client. Due to the full control of banks by the state financial system, information about private transfers becomes known to a wide range of people. Moreover, the bank account may be suddenly blocked, and the client will not be able to use the funds belonging to him.
The Bitcoin network became the first cryptocurrency system where transfers, firstly, were free, secondly, anonymous (to make a transfer, you only need to know the wallet number), and, thirdly, had a high level of security. Since the system is decentralized (control is carried out completely automatically), the mechanisms of the cryptonetwork ensured that wallets could not be blocked. After it became clear that digital currencies are becoming more popular than the traditional banking transfer system. Developers began to appear and wanted to repeat the success of Bitcoin and make good money from it. Accordingly, the likelihood of rapid growth in the exchange rate began to attract investors.
Distinctive Advantages
Many digital coins were developed using the same technology as BTC (Bitcoin stock ticker) - Blockchain (block chain), creating a new coin was not so difficult, since this technology has open source code. However, some coins, although built on the same principles (anonymity, speed, low cost of transfer), are based on different algorithms. One of these was Ripple (stock ticker XRP). The project started in 2012, shortly after BTC was opened to the world. To date, the cost of one coin has increased hundreds of times, from $0.0002 to $0.1631, and the currency is traded on many cryptocurrency platforms.
Platform
Ripple, like Bitcoin and many of its analogues, is a kind of ledger that records all the movements of each coin. Here, too, transaction confirmations are required to make an entry and change the owner of funds; these processes are carried out automatically and completed in a very short time. It’s just that the Ripple network was built and operates not on Blockchain, but on a system of payment gateways, and in principle, such a system can be used not only for transferring units of account within itself, but also for exchanging any currencies.
Protection
Users have only 35% of the issued coins in their hands; the rest is under the control of Ripple Labs - this helps prevent speculative manipulations that could cause a collapse in the value of the coin. The mechanism for protecting the network from hacks or failures is implemented as follows: when the load on the network increases (a sharp increase in transactions can be a sign of fraud), the payment for transfers also increases sharply. This forces the attacker to incur significant costs and makes the attack financially unprofitable. When the number of transactions returns to the average level, commissions are reduced. In addition, the scheme for distributing payment units also performs protective functions.
Mining
A distinctive feature of this currency is also the inability to obtain new coins through mining. The deflationary model of the system assumes a one-time emission of all tokens at launch, and over time the number of coins is reduced, unlike other cryptocurrencies, which increase the number of units of account through mining. It is noteworthy that the commission charged during the transfer (extremely insignificant amounts) is simply written off and destroyed (no longer circulated in the system). These crypto coins are not intended to reward miners and are not the profit of the development company. Due to write-off, the number of coins in the network is reduced; this process ensures the implementation of the deflationary model.
Interest of banks and government agencies
The difference between Ripple and Bitcoin and many crypto-networks is a departure from the principle of decentralization. The network is managed by Ripple Labs, whose developers created the digital currency. Accordingly, transfers within this network are less anonymous. Banks cannot use decentralized cryptosystems, nor can they interact with them or work on equal terms, but here, in this regard, there is an obvious advantage. From this it is clear that the scheme of this cryptosystem can, in principle, be introduced into the banking sector.
The combination of manageability, high payment processing speed (at a low cost), as well as multi-currency potential - all this is also attracting the attention of banking networks to XRP. In its current state (and even in its potential), that infrastructure and organizational system do not allow for radically cheaper and faster transfers; in some cases, a transaction can take several days to be confirmed. When it comes to banks studying cryptocurrencies (in particular, the head of the Central Bank of the Russian Federation recently confirmed that virtual cash systems need to be carefully studied), Ripple is most often meant.
Today, the phenomenon of digital currencies is also being studied by government agencies. Many states have already come to the conclusion that if it is impossible to prohibit the circulation of cryptocoins, then they can at least find mechanisms for tracking payments (in order to prevent their use for illegal purposes), as well as impose taxes on payments. Research work in this area is being paid for all over the world, and some lead to quite interesting conclusions. We will now present the results of one such study.
Forecast for further development of cryptocurrency
It may seem that the active popularization of cryptocurrencies could lead to the destruction of the traditional banking system, because why then banks with their expensive transfers, when there are networks where the transfer actually costs nothing (the base cost of a transaction in Ripple is 0.00001 XRP - thousandths cent). At best, the development of cryptosystems will lead to a decrease in state participation (from the point of view of control and taxation) in the circulation of funds.
In turn, banks operate under the control of the government, and digital currencies are not easy to control, so inaction on the part of government agencies (around the world) looks more than strange. But we can look at this process and the attitude of government officials towards it from a slightly different angle.
Environment for existence and development
The first step is to pay attention to the fact that such tools simply could not appear if there was no environment in which they could develop. That is, without the Internet there could be no talk of any digital coins. But banks, for example, could do without the Internet (for example, in the Middle Ages), and, theoretically, can do so now.
The World Wide Web is a medium for the exchange of information, and the development of this environment does not stand still. At first, data was transmitted over the Internet, then programs appeared that work on the network with data located on this network.
New branch: Internet of things
Later, technologies appeared that themselves initiate and carry out the exchange of information between objects (equipment, instruments) without human participation. For example, a refrigerator can itself analyze the presence of certain products in it, and if any of them runs out, it can send a request to the delivery service. This phenomenon has been called the Internet of Things, the direction is actively developing, and more and more manufacturers (in a variety of industries) are equipping their products with the appropriate chips.
The next step is the Internet of money
With the advent of digital currencies, in fact, a new direction has emerged - the Internet of money. Initially, funds (paper, coins) themselves represented, so to speak, a data repository; each coin carried information about the comparative value of material goods equivalent to the value of a particular product. Digitalcoins also perform the same function; given the existence of the Internet, there is no need to translate information into any physical objects.
We can come to the following conclusion: provided that the global network continues to exist, cryptocurrencies (regardless of the type of platform) will inevitably develop. The destruction of Internet money is only possible if for some reason the World Wide Web (as a method of communication, the Internet of things and money) disappears, which is quite difficult to imagine. Only under the described conditions will there be a return to funds that have a material carrier (gold, paper, etc.).
Prospects for Ripple
Based on this, we can assume that over time, digital currencies will soon replace real money, which means that the cost of coins will gradually increase. Therefore, in the long term, investing capital in them is a completely logical decision.
Accordingly, at the state level there will also be a change in the money circulation model, and at the moment, perhaps, in some countries the most effective (but at the same time controlled) cryptosystem is being selected. And only when the selection is completed will concrete steps begin to oust other networks from the market.
If we talk directly about Ripple, then it should be noted that this is one of the few systems that are integrated into the existing banking environment, so the growth in the cost of banknotes of this system will grow faster than that of its competitors.
How to earn
There are several ways to make money on Ripple, which we will now consider:
- Direct investments within the exchange platform. To buy cryptocurrency, you need to register in the Ripple system and create a wallet. Then you need to go through the registration process on a cryptocurrency exchange; today this currency is traded on many platforms, the largest are EXMO, KRAKEN, Poloniex, Livecoin. An account will be created in your exchange account to which you need to transfer money, as well as an XRP wallet.
After this, all that remains is to place a purchase order at the most favorable price, and when the price reaches the level you specified, the order will be satisfied. Money will be debited from your account and the system title units you need will be sent to your wallet.
Then you can leave the coins in the exchange account or withdraw them to the wallet that you registered in the system. For long-term investments, it is necessary to choose a reliable storage method, since cryptocurrency exchanges are periodically attacked by hackers. You can sell Ripple on the exchange when you think that the rate has risen sufficiently and it’s time to take profits.
To speculate in the short term, you need to determine the price range in which the coin is trading and buy at the lower limit in order to sell when the price rises.
- Investing in Ripple through a Forex broker. When working through the same trading technologies are used as during direct investments on the stock exchange. However, this method has its advantages:
- Due to leverage (from the broker), you can get more profit than on the stock exchange with the same amount of capital;
- The broker's trading platform has more tools for market analysis.
Is it worth mining Ripple?
In conclusion, I would like to compare Ripple with Bitcoin; this will help to clearly assess the prospects. BTC's current popularity is based on its long-standing reputation as a stable and efficient transfer system, while XRP's popularity is growing due to its prospects for development as a government system.
Therefore, it cannot be ruled out that the growth in the value of the cue ball may slow down somewhat, especially considering that in the last few months this growth has been occurring solely in the wake of the excitement associated with the recent sharp rise in price. But the interest in Ripple has, so to speak, a real basis, so it can even overtake Bitcoin in terms of speed of development.
However, when planning investments, it is worth remembering the risks; investing in cryptocurrencies is no less risky than working with any other Forex instruments.
There are a huge number of digital money nowadays: some of them are unique in their own way and offer the user know-how, others are like twin brothers. In this diversity is also an unusual coin called Ripple, which, in fact, is not a cryptocurrency in the traditional sense. Why this is considered so and whether it is worth investing money in it - answers to all questions in this article.
Features of the Ripple cryptocurrency
The first and to this day the main cryptocurrency is Bitcoin and, whatever one may say, all subsequent coins are similar to it. And even if they are super-mega-unique, the very fact that they work on , confirms that altcoins have borrowed at least something from their older brother. But the same cannot be said about the Ripple cryptocurrency - it has no connections to the blockchain and works on its own protocol. This very protocol is based on a distributed registry, is open source and operates armed with the principle of consensus, that is, agreement. 
Let us immediately note that the developers of Ripple did not even think about any cryptocurrencies - work on the project began in 2004, when cryptocurrencies were unheard of. Initially, the creators had a different goal - to create a system of global and free payments. This idea was quite successful and, as a result, the internal settlement coin Ripple was born, which was successfully included in the ranks of cryptocurrencies. And it is not just in these ranks, but conveniently located at the very top of the cryptocurrency TOP - its capitalization is 7.7$billion. Today, Ripple ranks fourth among all respected cryptocurrencies, but there were times when it briefly climbed to second place after Bitcoin. 
But Ripple has a very specific relationship. Many experts say that if the role of the world’s reserve currency shines on the crypto fraternity, then Ripple is more likely to receive this honor, and not cue ball. And no matter how much we love Bitcoin, we must admit that in terms of technical parameters it is inferior to many cryptocurrencies. Ripple, as a global settlement system, has found active use in the banking sector and a huge list of financial institutions around the world have already adopted its protocol. Very soon, Ripple can greatly change the face of the banking industry, because today it is already creating real competition for systems such as SWIFT and Western Union. And yes, they are already nervously smoking on the sidelines, watching as bank after Ripple bank squeezes out their market.
Does Ripple Mining Exist?
If you think that now with a slight movement of your hand you will download the program and start mining Ripple in your wallet, then we advise you to cool your ardor. As mentioned above, the coin and the entire system are fundamentally different from other cryptocurrencies and Ripple simply does not. Coin mining is not included in its concept, because the system works well without miners - it doesn’t need them.
Since the start of the project, which occurred in 2014, 100 billion XRP coins have been “minted” and their further production is not provided for by the system. It is noteworthy that out of these hundred billion ripples, only 20 are distributed among users, the rest are entirely controlled by the developers. This causes a lot of controversy that the project is not decentralized and the creators of the cryptocurrency can easily influence its rate. To calm down the raging masses, Ripple Labs has personally blocked access to coins with smart contracts and from time to time they can receive small parts of the amount for the development of the project. 
Since there are no miners in the system, the role of confirming authorities is played by trusted nodes. There are many of them on the network, but again, only the user who has passed the Ripple Labs certification becomes a node. So there are still problems with decentralization and they confuse many users.
Where can you buy Ripple?
In terms of capitalization, Ripple sits in an honorable fourth place, which means it is present on almost all cryptocurrency exchanges. The coin is popular, and any demand generates supply and trading platforms willingly include it in their listings. Therefore, if you are planning to acquire Ripple, then you will not have any difficulties in this process. Many popular exchanges support Ripple, including:
- Poloniex;
- Kraken;
- Bittrex;
- Bitfinex;
- Bithumb et al.
At the same time, there are a large number of crypto exchanges created in honor of the Ripple coin, and it occupies a key place on such sites. If you don’t want to deal with crypto exchanges, then there is a familiar alternative for us - you can purchase ripples through exchangers.
Ripple (XRP) cryptocurrency rate
The Ripple coin began trading on the exchange at a cost of 0.005$, and reached its maximum in May 2017 – 0.36$. Today the rate has fallen slightly and is quoted at around 0.2$, but even with such a rise in price, investors who invested money in this cryptocurrency from the start were able to make very good money. In any case, over the long term, we should expect Ripple to rise in price, and not only because large investors and banks are paying attention to the coin and the system as a whole. The very concept of cryptocurrency includes a strict number of coins that are not produced, and this will counteract inflation. And at the same time, the developers introduced the process of burning 0.00001 XRP for each transaction. This was done to prevent spam transactions, and in practice it will not only prevent an attack, but will also help reduce the number of coins. Even with stable demand, as the number of XRP decreases, the price of coins will increase. 
Where to store Ripple?
If you are someone who still stores any coins on an exchange, then this is very dangerous. Crypto exchanges are very active in scamming and the recent case with a large exchange proved this. Therefore, it is better to trust storage to wallets, but in the case of Ripple, everything is not so simple - there is no official client for the coin, and the developers do not position it as a monetary unit outside their system, but suggest using the Gatehub platform for this. However, there are alternative options.
Wallets for Ripple cryptocurrency
You can use a variety of wallets to store the XRP cryptocurrency. The popularity of the coin contributed to the fact that many developers of multi-currency wallets paid attention to it and added it to their clients. But there are also specific wallets that are designed specifically for Ripple.
- RIPPEX— if you are a fan of desktop wallets, then you should give preference to this application. The client can be downloaded for almost any operating system, the storage of private keys is carried out by the user, and everyone can check the authenticity of the client’s work, thanks to the open source code. The big advantage of the wallet is that there is a software and online option.
- Gatehub– a platform recommended by the developers of RippleLabs, allows you to store XRP, send it to other users, and even exchange cryptocurrencies among themselves. Overall, the wallet is very convenient and perfect for beginners.
- Ledger Nano S– the most reliable storage option. The developers of the famous hardware wallet recently added support for the Ripple cryptocurrency and now you can place your coins in this cold storage. Ledger has a lot of advantages and disadvantages, but there is a significant disadvantage - it is a paid wallet, for the purchase of which you will need to shell out about 60 euros, as well as pay for delivery from France itself.
How to create a Ripple wallet?
It is very easy to create your account on the official Gatehub platform, as well as use it in the future. But storing a large number of ripples in online storage is not recommended - if you purchased large volumes of coins and want to keep them for a long time, then the best option is a hardware Ledger or free RIPPEX.
To create your wallet on Gatehub follow the instructions:
- Go to the official Gatehub website and select the “Sign Up” section.
- Then enter your email, password (twice) and go through the anti-bot verification.
- You will be offered your wallet access key, which must be stored in a safe place, or better yet, in several places and on different media.
- The next stage is email confirmation, and after the first login you must undergo forced verification in the form of filling out personal information. After this, you can fully use the functionality of the wallet.
Again, we note that it is better to store small amounts of money needed for quick transactions in online wallets, while the place for all your long-term investments is in software clients. This is explained by the fact that desktops are secure, but not so convenient to use, while coins stored on third-party servers can be used comfortably, but it is not safe to trust these same servers with too many funds.
Ripple cryptocurrency – forecast for 2018
Summarizing all of the above, it is worth noting that Ripple is a very unusual cryptocurrency that has a powerful technical part, and its protocol is actively being introduced into the banking sector. Already today very large investors, such as Google, are paying attention to it, which clearly indicates good prospects. It is also very important that the coin was not intended to be a speculative instrument, as is the case with most dummy cryptocurrencies, and its development is not going in that direction. At the same time, it cannot be denied that Ripple’s decentralization is limping on both legs and the community can’t do anything about it until the developers themselves decide to take appropriate measures.
Not only in 2018, but also in the future, we should expect an increase in the Ripple exchange rate, because the number of coins will decrease and demand will increase. Therefore, now, when the cryptocurrency rate is quite low, it is worth buying at least a small amount of XRP, which in the future may dramatically increase in price. Well, we still won’t look into the distant future - whether Ripple will live up to the forecasts and surpass Bitcoin or become the property of the banking sector exclusively - in any case, the coin and the protocol will still have time to loudly declare themselves.
September 16, 20178 reviews for "Ripple cryptocurrency - innovation in the banking sector and Ripple investment object"
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Bagus sekali untuk menambah pengetahuan tentang Ripple
In recent times, the number of different cryptocurrencies has been growing very quickly due to their increasing popularity and profitability. Their total number has long exceeded 800. Quite an impressive number. But out of all this garbage, the real value and interest on the market are 20-30 coins, which have a fairly impressive amount of capitalization and are intensively traded on the exchange.
All types of coins, their capitalization, trading volume per day can be viewed on the website CryptoCurrency Market Capitalization .
Focus on the coin Ripple. Its development began in 2012. In 2017, Ripple began to be used by global banks around the world, and it was from that moment that the coin began to actively grow in price and increase trading volume. In this regard, it became interesting among both private and large investors. Gradually, the volume of capitalization increased and, at the same time, the price of this cryptocurrency increased. Its designation on the stock exchange is XRP.
The peculiarity of this coin is that with each transaction a tiny part of this currency is lost (destroyed), something like a commission, but there is nothing to worry about, because the amount is insignificant less than 1%, equal to 1/1000th of a cent. This is for safety reasons. By the way, Bitcoin also introduced a commission equal to $0.00001 for this purpose, in order to avoid DOS attacks.
As a result of a large number of transactions, the number of Ripple coins will decrease over time, thereby making the remaining coins more expensive. But there is no need to worry, since the number of these coins is so large that it will last for several decades.
Now on the exchange the price of XRP is $0.25-0.3. In the near future, its price will increase to $1. Therefore, now is the time to buy it and wait for the moment when the price rises. I think that by the fall it will reach this level. This is a very profitable investment. So if anyone is interested, think about what I wrote and draw your own conclusions.
Watch the video from Yuri, where he explained in detail the prospects of this coin, what awaits it in the future
P.S.— In this article, I am not forcing anyone to buy anything; I am drawing conclusions from my own observations and collected information on this cryptocurrency.
For those who decide to invest in Ripple, I advise you to buy it on the stock exchange POLONIEX.
In September, look forward to the continuation of this article; I will write about how events developed and whether my predictions came true :)
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Investing in cryptocurrency is a profitable way to make money, because in most cases people manage to earn income. However, in order to achieve maximum profit, it is necessary to understand the principle of operation of the cryptocurrency market. Experienced users decide to invest their money in RIPPL, because there is a good chance of earning extra money. There are certain features of the Ripple cryptocurrency that you should learn about before making your first deposit.
Why is it profitable to invest in Ripple?
The creators of the Ripple system claim that their main goal is to give people the opportunity to completely control their finances. This resource also allows you to make payments between different countries extremely quickly and at minimal cost. The platform will be useful even for large banks, because it allows you to save at least $3.5 on each transaction.
You can also highlight the following advantages of the Ripple system:
- Security of payments. As checks have shown, the resource is quite reliably protected from hacker attacks.
- You can work with different currencies.
- Extremely low commission.
- A person can fully control his funds.
At the same time, at the moment you can buy currency inexpensively, and after a while you will be able to make good money on it. But, of course, people should not expect that they will be able to make a profit in the near future. Although the prospect is good, however, you will need to wait longer to gain a good income.
How to invest in Ripple
People are now often looking for options where they can invest money to increase it. Cryptocurrencies are a good investment because there is little risk of losing your funds. Of course, their rate can also fall, but in most cases it increases over time. The user only needs to know when to invest and what currency to purchase.
Note that in order to invest in Ripple, you should acquire at least minimal knowledge about cryptocurrency and making money on it. The main way to generate income is to buy XRP at a low cost and sell it at a high rate. Therefore, it is better to invest money in cryptocurrency after a person has at least a little studied the principle of operation of cryptocurrency exchanges.
Important! As for buying Ripple, this can be done using exchanges. For example, you can use Bitflip, Kraken, Bitstamp.
To make a purchase, you need to register on the selected exchange and then top up your account. If a person is going to use rubles, then they should first be exchanged for dollars, bitcoin or euros. And after that, purchase XRP.
Note that without prior exchange of funds you can purchase Ripple on the Bitflip exchange. However, you should not use this platform for large sums, because it has not yet proven its safety and reliability. It will be more difficult to purchase the necessary cryptocurrency through exchange offices, because there are few such offers left.
To invest, you will need to create your own wallet, which can be mobile, desktop or hardware. Please note that to activate it you will need to have at least 20 XRP in your account. Because this number of coins is necessary in order to reserve a wallet address.
You can use the Rippex wallet, which is suitable for computers and laptops. It's safe, fast, and fairly easy to use. All you need to do is download the appropriate version to your electronic device and create a new account. After registration, you will be able to use your wallet to receive XRP.
For mobile phones, you can download Toast Wallet. Again, you will need to download the application and register. Already inside the system you can work with coins using your Ripple address.
How to make money on cryptocurrency
You can also carry out short-term speculation on price changes in Ripple. Trading is supposed to be done on a price chart; for this you can use a broker or do without one. Note that experts currently assess Ripple as a worthwhile and promising resource. That is why even representatives of the banking industry use the system, because they realize its benefits.
Cost forecast
Before you decide to invest money, you should find out about the forecast for Ripple for 2019. It can be noted that the prospects are quite good, and active price growth will continue to be observed. At the moment, the currency has a price of 0.9394 to the dollar, and it is tempting to purchase.
Experts note that at the moment the value of the currency is growing rapidly. Trading turnover per 24 hours averages over $1,500,000,000. At the same time, the market capitalization is 35,968,413,706,99. The forecast is favorable, and in 2019 the currency may cost 60,000 and 100,000 rubles. Therefore, people who purchase XRP now can expect to make large profits as a long-term investment.
Compared to 2017, the currency has risen significantly from the level of 0.1964. Moreover, its peak was in January 2019, when the price was $3.40. At the moment, the rate has fallen slightly, but soon it will go up again. Therefore, now is the most favorable time to buy Ripple. People who make investments will only have to wait until they can sell the cryptocurrency profitably again. And this moment will come very soon, and it is long-term investments that will bring the most income.
