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Investing in ripple vs bitcoin

investing in ripple vs bitcoin

Bitcoin and Ripple's XRP are cryptocurrencies you can trade like government currencies. · Both can be used to pay for goods and services. · The. Ripple isn't your average cryptocurrency. Instead, it offers something entirely different from every other type of digital currency. Unlike. XRP is a cryptocurrency designed to be used for international payments and currency exchange. When Ripple first launched, XRP powered its cross-. WAVETOP FOREXWORLD

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Bitcoin BTC transaction fees, on the other hand, are paid as a reward to the miner to include a transaction in a block formation. Ripple has solidified its position in the top 5 cryptocurrency list and is almost as well known as Bitcoin.

Regardless if Ripple becomes the number one blockchain-for-banks or not, there are plenty of other applications for its technology. Unlike Bitcoin, it is business friendly as it complies with regulation. While Bitcoin relies on user adoption, Ripple is aiming for more widespread adoption in daily commerce.

This makes it more attractive to investors that view cryptocurrencies like Bitcoin as vulnerable to future regulatory battles and therefore not likely to be adopted for general commerce. Where Bitcoin is offered on local exchanges, in persons and in ATMs, Ripple exchanges are limited to the following reputable sources: Poloniex, Bittrex, Kraken, Jubi, Bter, Anxpro and some other lesser know exchanges. All in all, Ripple is great for banking infrastructures to connect worldwide, whereas Bitcoin is suitable for all sorts of different use cases.

Rippex, for example, is a well respected desktop wallet. Last, but not the least, Ripple value in USD is far less than bitcoin. Which is good for long term investment? Ripple has certainly gained a lot of momentum and the list of organizations which are using it indicates that the tokens themselves will become valued commodities in their own right.

In fact, last year, the increase in value of one XRP token outperformed Bitcoin or any other cryptocurrency. The Bitcoin price changes a lot every day and has seen many highs and lows over the last few years. Considering that Ripple is largely governed by a central body, it is hard to argue that it is more secure than the most mined cryptocurrency in the world- Bitcoin. However, following its creation, several alternative decentralized crypto assets were created, some offering faster transactions than Bitcoin, better scalability, or smart contracts, for example.

Some crypto altcoins are also arguably considered centralized, and the argument rages on today not only within the cryptocurrency community itself but with the SEC. But the differences between Ripple vs Bitcoin are vast, not just in value, but how they differ as an investment and trading instrument. This guide takes a deep dive into comparing the cryptocurrencies XRP and BTC and what each has to offer investors and traders alike.

Both can be used to store or transfer value from user to user, without the need for a bank. The similarities about end there, with even their creation and backstory diverging completely. For one, Bitcoin was designed by the pseudonymous Satoshi Nakamoto, that is presumed deceased and had noble reasons for creating cryptocurrency that will be explained under the below concepts section.

Ripple, on the other hand, started as another project altogether, and the XRP protocol is now provided by Ripple, a company by the same name. Bitcoin enables users to be their own bank, custody their own wealth, all without the need for a third-party.

While Ripple executives claim XRP is decentralized, founders hold a sizable portion of the supply, and the crypto community claims the distribution is too unfair to be considered decentralized. And while Bitcoin is vehemently opposed to banks, Ripple works with directly banks to get them to implement the XRP protocol and replace cross-border payment solutions like SWIFT wire transfers.

Because of how completely different in concept these two assets are, the crypto community is just as divided on if the asset is worthy of investment or not. Ripple also has a marketing team, for example, while only developers and the community itself supports Bitcoin. Because of this, Ripple is subject to stricter regulation than Bitcoin, which has no intermediary whatsoever. The proof-of-work system driven by Bitcoin mining contributing hash power to the network to keep it secure, and chugging along was the solution necessary to create the future of finance.

XRP utilizes a consensus ledger and series of network servers to validate transactions. As a result, XRP is significantly faster and more flexible than the Bitcoin blockchain. Bitcoin blocks are generated roughly every ten minutes, transactions that pay the highest fees or happen to make it to the top of the pool can be processed in this timeframe, but it can take longer from there depending on overall transaction fee costs, how many transactions are currently pending in the meme pool, and more.

The number of transactions per block can reach as high as 3,, so the cryptocurrency currency has a capacity for roughly 3, per ten minutes. These are just some of the ways that make Ripple better than Bitcoin. Bitcoin also has a deflationary supply mechanism, called the halving, which reduces the supply of BTC that enters the market by half every four years.

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10 Things You Should Know Before Investing in Ripple XRP

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