What is Ripple (XRP)? - Quote, wallet and how to buy |
Posted: December 31, 2018 |
Currently, the technology that is transgressing barriers consists of distributed accounting, known as Block chain. This is having extremely important advances, since many systems have been discovered in which it can be applied to improve its scalability, speed, cost and confidence in the users that use them. For the operation of a block chain network it is necessary to create an asset that allows to pass value, which is denominated as cryptocurrency. There are thousands of them, but in this entry we want to refer to Ripple, which has been among the top 10 for a few months with more market capitalization. What is Ripple and how it worksXRP is a cryptocurrency created with public and free software, that is, it can be reviewed by anyone (like Bitcoin and most altcoins), which is carried by the company Ripple Labs and therefore it has control over it, which means that unlike other digital currencies, it is not completely decentralized. The objective of Ripple is to facilitate transactions between people, organizations, companies and especially banks; since it allows sending and receiving money instantaneously and changing it by local currency, so it is also a great alternative for the purchase of other crypto actives. Its operation is quite easy to understand. The network is composed of different nodes, which are responsible for receiving the information and verify that it is valid in each one of them; in turn, they function as a local exchange system, which makes it a decentralized bank model (half of what was mentioned above). Basically it is a banking system similar to the traditional one, only that the transactions should not go through the "center", as happens with the institutions of today. The problem today is that the financial system does not work properly, since it generates a high cost for society and is controlled by a few people (where their interests directly affect the population). Therefore, this alternative is presented to eliminate this control and also offer economic solutions to transfer money from one place to another in record time regardless of currency exchange. What are the main characteristics?
A curious fact is that it is much older than the Bitcoin, since it was created in 2004. However, the system did not work properly until the Ripple Labs company contracted a specialized team, among which the founders of two of the most popular exchangers in the ecosystem, the first is Jed McCaleb (creator of the old MtGox) and Chris Larsen, co-founder of E-Loan; so the launch was made in the year 2012. Price and quote of Ripple since its launchThe Ripple coin price started showing on the coinmarketcap website from 0.005874 $ (0.00005974 BTC) on August 4, 2013, with a market capitalization of 45,921,033 US dollars. Which had a strong growth over the years to date, so then we will make a brief tour of its highest and lowest points in the history of cryptocurrency. Only 12 days (August 16) the price fell to 0.002901 $, but it recovered until reaching its first maximum of 0.014 $ on September 28 of the same year; which began to correct until November 19. However, due to the rise of Bitcoin and the altcoin by that date, it managed to reach a historical maximum of 0.054 $ on December 5, 2013. After that, the price started to deflate again, reaching almost the historical low, standing at 0.003227 on July 5, 2014. However, from there it again grew again to settle at 0.0277 $ on December 18 of the same year, but it could not maintain the price and corrected up to $ 0.005, an amount that rose progressively until March 2017, where the price of Ripple exploded exponentially with the other cryptocurrencies. On March 25 it reached $ 0.010 and continued to rise to $ 0.05 reached on April 2, corrected to $ 0.03 and on the 29th it began the rise that would take it to its historic high on May 17, 2017, with a price of 0.40 $. Obviously the price of XRP again corrected, but remained in the range of $ 0.20 until December 9 of the same year that began to rise to stand at its new maximum of $ 0.80 on December 16. Buy Ripple with euros or dollars (PayPal, Card and Transfer)Acquiring XRP with fiat money is also possible in some Internet platforms, because as we mentioned above, it is an extremely popular cryptocurrency. It should be noted that buying Ripple with PayPal is a very difficult process, since this payment processor is not accepted in the cryptocurrency ecosystem. However, there are two alternatives that can be used for those who only have this method of payment. The first consists in investing in XRP through a trading platform such as Plus500 or Toro, that means you will not have the currency in a wallet or you can remove it from the site, but it will serve as if it were to invest in the stock market or a common currency; while the second would be to look for a BTC purchase method through said processor and then acquire XRP as mentioned in the previous steps. In the case of wanting to buy XRP with card or transfer, the process is much simpler, since there are several sites that sell cryptocurrency in exchange for FIAT money or at least you have the possibility to acquire them through it. Among them we find Kraken, Coin base and Bitstamp. You only have to verify your account with a valid identity document, place the corresponding data to make the payment and you will have the money to acquire the digital currency quite easily and without any inconvenience. The three recommended pages have millions of users, years of experience and reliability, so you can make a secure purchase without any risk.
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