Ripple XRP has an outlandishly good year and early investors have had plenty to cheer about. XRP started off the year 2017 trading at just about $0.006, and has made the headlines a couple of times over the last twelve months sitting at at a ridiculous third in overall market cap.
During the course of 2017, this cryptocurrency displaced Ethereum a few times to perch at the second spot on the list of the most capitalised cryptocurrencies. A pretty miraculous feat for something that at the start of the year seemed less likely than McGregor beating Mayweather.
As of December 31 2017, Ripple emerged as the only crypto on the Top Ten that did not fall in market price compared with Bitcoin, Ethereum and other chart toppers. It closed the year at $2.21 to the USD.
How Ripple XRP Works
XRP is the name of the token issued by Ripple, and it witnessed a surge in value as its worth as a money transfer tool became widespread over the last 30 days.
XRP is also the payment currency used on RippleNet to make transfers from one currency to another globally.
The speed of currency transactions using XRP is reputed to be four seconds.
The utility of Ripple XRP has led to banking institutions working around the clock to cut a deal with the promoters to expedite real-time money transfers globally.
The edge XRP offers is such that a wallet holder can trade base currency to XRP and transfer same to the target currency of the recipient.
In simple terms, if you hold the British Pounds, you can trade GBP to Ripples XRP and send the XRP to the recipient in Japan, who will receive the JPY (Japanese Yen) in return.
The recipient only needs to have an online Ripple XRP account to cash out in the desired currency.
What Makes Ripple XRP Distinct
Ripple XRP is distinct as it stands out from the crowd of altcoins without an underlying value.
Not only does XRP have a money transfer value, it also serves a purpose as an altcoin that enables daily transactions anywhere on the globe.
Banks can save $3.76 on each money transfer transaction by leveraging on the RippleNet Blockchain to for their business and customer requests.
RippleNet Blockchain support is set to witness mammoth business with the likes of money transfer giant, Western Union, set to leverage on this platform in 2018. It’s news like that doesn’t make us think Ripple is slowing down in 2018.
How to Buy Ripple XRP
Ripple XRP can be bought on exchanges, peer-to-peer networks like LocalBitcoins or from any crypto currency wallet provider.
There are more than 50 exchanges online that support Ripple XRP. You can decide to buy XRP with your fund deposit or by exchanging it for another crypto.
What to do:
• Go to an exchange and register an account (use Coinbase , HitBTC or BitStamp )
• Validate your account and fund it using local currency or bank card
i. Direct Purchase
• Go to the buy tab in your account dashboard
• Select the units of XRP you want
• Your account cash balance will be charged
• XRP reflects in your exchange account.
ii. Exchange a crypto for XRP
• Purchase Bitcoin , Litecoin or Ethereum
• Exchange the crypto you bought for Ripple XRP
• Go the dashboard and use the dropdown menu
• Select BTC/XRP
• Enter the XRP units you want exchanged
• Your Ripple XRP will reflect afterwards
• Your Ripple XRP can be moved to GateHub wallet. (for instant transfers to recipients globally)
Selling and Trading Ripple XRP
Using online wallets can be convenient but you need to be sure of the integrity of the wallet of your choice.
Some wallets allow you to buy and sell directly after connecting to a gateway or an online marketplace or exchange.
Users in the U.S and Canada can access Glidera from several wallets, and complete their transactions without any fuss.
Other crypto traders across the globe can use exchanges like Bitrex, Bitfinex, Kraken or Poloniex to buy, sell, and trade Ripple XRP.
You can decide to buy Ripple XRP today, store in your wallet, and wait for a price surge before you sell to reap your desired profit.