Crypto

Ripple (XRP) VS Bitcoin (BTC): Which Cryptocurrency Has What It Takes To Become The Currency Of The Future? – Magnetic mirror

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Posted on January 19, 2022, 11:02

Ripple is a cross-border payment system for financial institutions. It can be compared to SWIFT. Ripple management is more or less centralized, but its XRP cryptocurrency can be used in the same way as any other currency. It can be purchased as an investment and exchanged for other cryptocurrencies.

  • XRP is an efficient and popular cryptocurrency with great utility.
  • However, to be effective, it gave up a high level of decentralization.
  • Although Ripple, the software and the company may be successful, I do not think that XRP, the native cryptocurrency, is a good investment.

Bitcoin (BTC-USD) is the world’s leading cryptocurrency and many believe it will remain so for a long time. But there are plenty of competitors, and one of the most notable is Ripple (XRP-USD).

Ripple is backed by many banks and is very different from Bitcoin. Today I take a look at bitcoin, and how it contrasts with the long misunderstood cryptocurrency Ripple.

Can XRP and BTC coexist? Or will the success of one seal the fate of the other?

Bitcoin is a store of value, decentralized in nature and in limited supply. Ripple’s XRP, on the other hand, is much more centralized and supply is expected to increase in the future (we know it will, as Ripple continues to accumulate most of its reserves). Bitcoin is like gold, a store of value, but even if XRP becomes a common medium of exchange, that doesn’t mean its value is much higher.

Can Bitcoin and Ripple coexist? Yes, to some extent, but only in a world that remains deeply dependent on banks and centralized financial institutions. Ultimately, Bitcoin and Ripple represent a different future, and while Ripple is a step in the right direction, it may not be the only solution…

Ripple (XRP) price: what is the current price?

Here is the live price of Ripple.

The essential you should know about Ripple

Creation of the XRP crypto

Ripple is not a cryptocurrency in the classic sense of the word. Rather, it is a peer-to-peer digital payment network and protocol built on a decentralized platform. It is designed to allow financial institutions to carry out fast transactions in a secure ecosystem, with XRP being the cryptocurrency that serves as a “gateway” in the network.

The Ripple project predates Bitcoin. In 2004, John Fugger launched a peer-to-peer financial network called RipplePay. The goal was to capitalize on the financial relationships between network participants to eliminate the need for banks. In 2012, Fugger officially handed over RipplePay to Jed McCaleb (a blockchain pioneer) and Chris Larsen. Subsequently, the company name changed twice between 2012 and 2015.

How does Ripple work?

  • Ripple is based on the blockchain, although its governance is not decentralized.
  • Transactions are validated by consensus through bank servers.
  • Ripple transactions are inexpensive compared to traditional banking networks.

Crypto XRP: our opinion and prediction for 2022

  • XRP Mirror Mag Global Rating: 8/10

Ripple Project Reviews

Ripple brings innovation to the traditional sphere of financial transactions. It is the most adopted cryptocurrency by banks.

Price volatility notice

Despite the strong fluctuations of 2021, Ripple remains one of the most stable cryptocurrencies. In intraday, the price evolves in range during most of the time.

Medium Term XRP Price Prediction

Ripple seems to find its balance between 0.5 and 1 dollar. So these are 2 important decision points.

Long Term XRP Price Prediction

XRP is not a cryptocurrency destined to make exceptional growth. We can expect it to fluctuate in the long term between $0.5 and $1.5.

Conclusion: should you invest in Ripple cryptocurrencies? Where and how to buy it?

Conclusion of our Ripple review

Ripple is a very reliable project and its cryptocurrency is one of the most valued in the cryptocurrency industry.

Buy Ripple (XRP) to trade

To operate with this cryptocurrency, the eToro broker is the most suitable. In addition to buying the tokens, this platform allows you to trade short-term cryptocurrency CFDs without actually owning the tokens.

  • Stage 1 : Use the search bar on the eToro platform to find the cryptocurrency.
  • 2nd step : then click on “Invest” to give the amount of cryptocurrency to buy and validate the transaction.

Read this article to find out how to buy crypto on eToro.

Buy Ripple to invest

To invest in this cryptocurrency by keeping it in a wallet, go to the Binance platform.

  • Stage 1 – Go to the “Buy Cryptos” tab and then choose the payment method of your choice.
  • 2nd step : select the cryptocurrency to buy and proceed to the secure payment. The cryptocurrencies will then be credited to the dedicated wallet.

Read this article to learn how to buy cryptocurrencies on Binance.

Useful resources to invest in Ripple (XRP)

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Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You need to ask yourself if you can afford to take the high risk of losing your money.

The information provided on this website should not be taken as investment advice, financial advice, trading advice or any other type of advice and nothing on the website should be considered as such. Mirror Mag does not recommend that you buy, sell or hold cryptocurrencies.

Be vigilant and consult your financial advisor before making any investment decision. The display of third party advertisements and hyperlinks on Miroir Mag does not in any way imply the endorsement, guarantee or recommendation of Miroir Mag. Before using any third party services, you should do your own research. Mirror Mag is likely to receive compensation through affiliate links.

marc sorsen

Graduated with a master’s degree in journalism, Marc is a freelance journalist always ready to give you the best information.

marc sorsen
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