Published by FrankNez Team.
Learn more about the money transfer network Ripple and the native cryptocurrency XRP. A popular and stable currency that remains at the top of the most valued cryptocurrencies on the market. But should you invest in XRP? Read more here.
As cryptocurrencies have become such a popular investment, there has been much more attention on the many different kinds of crypto and the pros and cons of each of them.
One of these types is a cryptocurrency with utility.
If you’re interested in cryptocurrencies with utility, you’ve probably stumbled upon XRP or Ripple as it’s also called.
In this article you can read more about XRP and whether it’s a good investment case.
If you’re completely new to crypto, you can read more about the world of crypto here.
If you are already an expert, let’s go!
Related: How to Invest in Crypto for Beginners
What is Ripple?
First of all, you need to know the difference between Ripple and XRP.
XRP is often called Ripple, but it’s two different things – much like Ethereum and its native cryptocurrency Ether.
Ripple is a money transfer network.
It’s also the company behind XRP and processes all kinds of money transactions on a global scale.
It can facilitate exchanges for most fiat currencies and cryptocurrencies.
Ripple is different in many ways from other transfer networks, and it offers incredibly fast transactions with very low fees.
Related: List of 4 Best Crypto Exchanges for Beginners
What is XRP?
XRP is a cryptocurrency with utility.
It is closely connected to Ripple as they are engineered by the same company.
You can use XRP in many different ways, one of them being facilitating your transactions on the Ripple network.
You can also buy XRP to exchange them with other cryptos or as an investment. XRP runs on the XRP Ledger blockchain.
It’s a bit different from other blockchains as it is more centralized, which obviously also makes it more secure.
If this sounds appealing, you can visit CryptoMeister to invest or learn more about XRP.
Should you invest in XRP?
As with any other investment, there is not one clear answer to whether or not you should invest.
But there are some pros and cons that you can consider before making your decision on XRP.
Some of the advantages of the Ripple network is that it has a versatile exchange network that can exchange many currencies besides XRP with incredibly fast and low-fee transactions.
On the other hand, this network is more centralized which goes somewhat against the original cryptocurrency philosophy.
When it comes to investing in XRP, it is deeply connected to the Ripple network.
Even though Ripple is more centralized and very recognized, it is still a gamble to buy XRP.
Just like any other cryptocurrency, the value can and will fluctuate.
So, when investing, you should make sure that you only invest money that you cannot afford to lose.
Whether you should invest in XRP long-term somewhat comes down to whether you believe that Ripple as a payment system is the future.
To get more investment tips, click here.
Follow FrankNez On: Twitter | Facebook | LinkedIn
About The Author
Let’s start a discussion! Leave your thoughts below.