Published by FrankNez team.
Before diving deep into the possible differences between Bitcoin and Ripple, we want to make sure that you get familiar with the concept of cryptocurrencies.
A cryptocurrency is a digital currency asset that works on a decentralized transaction model most of the time.
Today, the concept of crypto-based assets is skyrocketing, giving a solid hint that this is the future of global transactions.
Ripple: A brief note
The whole concept behind the launch of Ripple and its current working model is quite different from the rest of such platforms and units.
The main goal of Ripple is to improve the current banking channels.
This is done by unifying and streamlining them under the Ripple umbrella.
To promote this concept, Ripple also launched its very own crypto coin, the XRP.
According to global statistics, XRP is easily included in one of the top crypto assets and coins.
This is because of the fast transaction model of the XRP and the already financial streamlining dynamics of the Ripple platform.
Bitcoin: A brief note
You don’t need to be a crypto enthusiast to be aware of Bitcoin.
The hype for cryptocurrencies started back when Bitcoin hit some solid figures.
That’s when most experts started to believe that digital assets and currencies are the future.
Bitcoin is a completely decentralized currency.
In other words, there is no bank or a certain administrator that controls Bitcoin.
The user is the main authority within Bitcoin-based transactions.
You can send bitcoin to any user around the globe in an instant without any facilitating party in between.
You can buy Bitcoin in Dubai without any hassle.
It’s safe and secure through local exchanges as the currency adaption is being widespread.
Ripple vs. Bitcoin: The best option
Regarding usability and global access models, both Bitcoin and XRP are different.
Bitcoin is decentralized, with the main focus on the user transaction models. If we take a look at the transaction timeline of Bitcoin alone, it takes several minutes the processing.
On the other hand, XRP is a crypto coin of the Ripple platform.
Being a sole transaction facilitating platform, you can process a transaction through the Ripple channel in seconds.
This also includes large-scale transactions, which usually require days to process through regular banking channels.
What does the future hold?
The future of crypto-based models is very bright, and all the experts have a consensus on this.
Countries like UAE showing interest in the domain and opening their doors for trading is a clear symbol.
But the future is quite specific based on the models of Bitcoin and Ripple.
Bitcoin is a cryptocurrency.
It will always remain in the limelight for its huge market cap and fascinating story of being the crypto coin that started the era of crypto.
On the other hand, Ripple is more goal-oriented.
The platform is progressing to increase the TPS rates even for large-scale transactions.
Making the right investment
The investment you will be making depends upon you.
One is a cryptocurrency, and the other is a blockchain-based financial transactions model.
Whichever suits you to invest in will be the best one in your interest in the long term.
But before investing, there are two factors you need to keep in mind—first, the possible market cap of the digital assets.
And second, the plans that are outlined for the asset.
If you are clear in these two domains regarding a specific asset, you are good to go and invest in it.
Bitcoin changed the world, and Ripple is changing the world.
We think that’s the best way of describing the always ongoing comparison of Bitcoin and Ripple.