Ripple 101: A Brief Summary of What’s Going On
Ripple is one of the world’s leading crypto dynamo's, providing lightning-fast cross-border payment protocols and a global settlement network that guarantees more practical transactions from anywhere on the globe.
With more than 300 employees,Ripple continues to strive for technological advancements and to ultimately forgo older and more convoluted payment systems like SWIFT and similar.
When you invest in Ripple, you get a decentralized currency spearheaded with transparency and security, maintained by a team of experts at Ripple Labs.
Ripple has an open-source software like other decentralized cryptocurrencies that enables people to freely modify it however they please. Moreover, it employs a consensus protocol to record and verify transactions at the drop of a hat.
If there's one reason to invest in Rippleit has to be the way that banks use it. Ripple has real-world applications wherein it simplifies cash transfers between banks. Some of the banks that are already using Ripple are titan financers like Axis Bank, Star One Credit Union, MUFG, and Cambridge Global.
Ripple’s low transaction fees give it a competitive edge despite its large market cap. There are also a lot of theories saying that it can be potentially recession-proof because of blockchain.
2020s crypto landscape can be profitable if you take into account the past rocketing price rises.However, like all savvy starters, you're going to need to back yourself with the right investment strategies.
So,without further ado, let's dig down into some tricks of the trade to help you on your way to a profitable portfolio.
Before you buy and sell up a storm, you should have a clear understanding of what you want out of the game.
Questions like ‘ Do you intend to short-term trade? ’ or ‘ How much money you feel comfortable putting down are essential when moving forward in investing in Ripple.You also ought to consider your time, effort,and psyche when it comes to managing price hikes and uncertainties in the market.
You must have enough time to employ the appropriate tactics while you follow the changes in the market. If you just want to hold on to your crypto you need to brace yourself for potential risks that may threaten your personal goals. Therefore, it is important to know your limits as well.
When you invest in Ripple or, the market changes and so should you if needed. Ripples still growing meaning system updates will pop up along the way. It always pays to be in the know so you can decide when to stay put and when to leap.
Large supply and (so far) coincidingly limited use means that Ripples prices will fluctuate for the next few years.
Online apps make it easy to track the crypto price index. Get instant updates on market trends when you download helpful apps like Crypto Crunch and Blockfolio.
If you opt to hold Ripple at any point, doing market research will help you keep track of volatility, opportunity, and strategy alike.
Market research can give you an edge when considering long term investments. You should have a clear understanding of the market. In turn, this will give you an idea of the cash you can part with, how much you can afford to lose, and what you stand to gain when all is said and done.
Trading with derivatives will enable you to hedge strategies that should be implemented as well as presenting positions without initial exposures. Moreover, the market for derivatives is thriving.
XRP derivatives are obtainable on well-known exchanges such as Binance and FTX.
Invest in the Ripple wave means you need somewhere to buy your XRP. That's where crypto exchanges come into play.
Known as the largest crypto exchange on the globe in terms of trading volume. It's one of the best spots to buy, sell, and trade XRP. You can even hold XRP through their super-cool crypto trading platform.
Known for its strong BTC trades, this crypto titan also handles all things XRP as well as 200+ other crypto coins. Bittrex charges a standard 0.25% for trading on its platform.
An exchange for seasoned traders, this exchange also allows margin trading and lending on desktop and app. Moreover, about 5% of its Ripple volume is on the Boston-based exchange.
Having a reliable cryptocurrency wallet is also important when you invest so that you can store, transfer, receive and manage your XRP all in one place. Basically, an XRP wallet is like a personal ledger of transactions at the click of a button.
There are a lot of crypto wallets out there, so having an understanding of their various features really helps. Here are some of the top XRP wallets to help you with your quest for the perfect wallet.
One of the best XRP wallets online is the user-friendly Atomic. Unlike most crypto wallets, Atomic Wallet is perfect for non-tech users. It's easy to use and super effective. With a seal of approval from the greater XRP community, the wallet has a smooth UI integration and some fun added features
Atomic Wallet is a completely decentralized solution that safeguards the storage of your funds while giving you total control over them. It stores all the information on your balance and signs your transactions with a private key.
Check out the feature rundown below
Introducing Edge, formerly known as Airbitz. An open-source wallet available on iOS and Android.
Edge has a decentralized server infrastructure and connects users directly to the crypto networks they use. This means that your wallet can still function even if the servers were to go down. Check out these great features:
This robust XRP hardware wallet comes with a stylish display screen in an ultra-cool shape.
Ledger Nano S is considered to be the safest XRP wallet and allows unlimited XRP storage. It also has the capability to store private keys that limits a hacker’s ability to steal your XRP. Below are some of its features:
2020 is looking to be the best year yet for Ripple (XRP) and, with the global adoption of the digital, there has never been a better time to stand at the forefront of the future.
The recent growth of Ripple could soon be making bigger waves than we ever thought possible. All that's left to do is ride the wave to the future.