Is Buying Ripple (XRP) Still Worth It?
If you’ve been on the crypto-circus for a while, chances are you already know that Ripple (XRP) was once (and still is) one of the ruling coins in the game. The underlying technology goes above and beyond other blockchain networks, like Bitcoin. It is less of a transactional currency and more of a real-time retail exchange system (similar to PayPal, but not in the way you are thinking).
It has been gaining popularity with bankers and payment providers as an alternative to existing payment networks. However, since its price is correlated with so many other assets, it’s become a bit murky as to whether this will help or hurt XRP over the course of time.
In this article, I’ll discuss why XRP might be worth buying now and will also cover some more questions about the cryptocurrency. So if you are looking to buy Ripple, you should read this.
Is It Worth Investing In Ripple Now?
When it comes to investing in cryptocurrency, timing is crucial, and it is important to know that there are times when buying Ripple is not a good idea. If you are looking to invest in cryptocurrency as a long-term investment strategy, then buying Ripple might be right for you because it has the potential to rise in value over time.
Despite recent dips in its price, Ripple has shown itself to be a popular choice among retail investors and traders alike. If you are looking at buying Ripple in the hope of making a quick profit, it is probably best to look elsewhere. Cryptocurrency investments are not for the faint-hearted and should only be done by individuals who are willing to lose their money.
Is It Too Late to Buy Ripple?
It is never too late to buy a cryptocurrency, even if it has mooned. There will be corrections, the price will drop and then rise again. The price of most cryptocurrencies are still very low compared to the future potential that they hold. So yes, you can still invest in Ripple at this point in time.
Do I Believe Ripple’s Price Will Rise?
Yes, I do, but not because Ripple is part of the Blockchain or because it uses cryptography. It is simply because Ripple has been around for years and has established itself as a company that works with banks. They have a real product that large banks want, and they have implemented it into some banks already.
Why Is Ripple So Expensive?
The reason why Ripple is so expensive is simply because there are far fewer tokens in circulation than Bitcoin, Ethereum, and other crypto coins. This means that there would only be around 39 billion XRP in circulation once every token has been released.
Some More Reasons to Invest In Ripple
Regardless of how XRP’s price is doing in the market presently, there are still good reasons to invest in the coin. Below are some of them:
- XRP is faster than bitcoin. According to Ripple, transactions using XRP take only four seconds. Bitcoin transactions can take up to 10 minutes or even longer.
- Unlike bitcoin and many other cryptocurrencies, XRP has a clear use-case – it’s designed for banks to facilitate cross-border payment transfers quickly and cheaply, which XRP is already doing with some of the world’s biggest banks.
- Ripple Labs owns more than half of the total supply of XRP tokens (60 billion). It has locked 55 billion of these tokens into an escrow account, which it sells to fund its operations. This gives investors added confidence that Ripple will remain financially liquid.
- Ripple (XRP) differs from other cryptocurrencies in that it does not rely on distributed computing but instead uses an iterative consensus process. This means that users are not required to compete intensively for the next block as they would have to do with Bitcoin, for example.
- It Is Cheap. Ripple (XRP) is currently trading around $0.80, marking a 4% gain on the day and a 30% loss on the week. While this may seem weak for a cryptocurrency that was once worth over $3, it’s an excellent time to be buying Ripple (XRP).
Why? Because it is cheap! The future of Ripple is looking brighter every day, and its price will only increase from here. Ripple (XRP) is a cryptocurrency that has been around for years but has recently made waves in the crypto community due to its potential as an investment vehicle.
- Lots of real-world uses. XRP is a cryptocurrency with real-world utility. It’s used by companies like MoneyGram to speed up cross-border payments between fiat currencies. In 2020, MoneyGram said it plans to expand its use of XRP in its payment flows in other corridors where it is seeing demand from its customers.
How to Invest In Ripple (XRP) Today
· Buy Ripple directly using a credit/debit card
The easiest way to get XRP is by using a credit or debit card on a site like Binance or Anycoin Direct. You can also purchase XRP with cash via bank transfer on Bitstamp. Once you have purchased XRP, you can store it on an exchange such as Binance or use a hardware wallet such as Ledger Nano S or Trezor to store it safely.
· Buy Bitcoin or Ethereum first and then convert those into Ripple
If you don’t want to buy directly with your credit card, you can also buy Bitcoin or Ethereum first and then convert those into Ripple on an exchange like Changelly. This method will take longer than buying directly but will likely be cheaper.
