Sunday, January 14, 2018

13 Facts About Ripple To Know Before You Invest in XRP in India

If you’re planning to invest in Ripple in India, it is important that you understand few things about it first.

Here are 11 basic, amazing, and less-known facts about latest sensation Ripple, the world’s third-largest cryptocurrency by market cap.

Also Read: How to Invest in Ripple in India?
Facts About Bitcoin
1) XRP and Ripple are two very different things.

2) XRP is a cryptocurrency just like any other. Ripple, on the other hand, is the company that creates XRP.

3) The company – full name Ripple Labs – also offers a software to banks called Ripple Connect. This software, which is based on Ripple protocol, makes transactions of money between different banks very cheap and fast.

4) Many top banks around the world are already and experimenting with Ripple protocol, including American Express, Western Union and National Bank of Abu Dhabi (NBAD).

5) This protocol promises to make the international money transfer simple, free and in real-time.

6) By the way, Ripple Labs was earlier named OpenCoin. It created XRP back in 2012. Today, the company is among the most valuable startups in the USA, only behind Uber, Airbnb, Palantir, and WeWork. All thanks to the skyrocketing value of its cryptocurrency XRP.

7) You can use the words Ripple and XRP interchangeably. Everyone does. We too!

8) According to the company, Ripple is created to keep money flowing freely—and ‘do to money what internet did for all other forms of information.

9) XRP beats other popular Cryptocurrencies (Bitcoin, Ethereum and more) when it comes to speed, cost, and scalability.

10) It processes 1500 transactions per second—Bitcoin can process only 7 transactions per second, which takes about anywhere between 15 minutes to 2 hours for completion.

11) XRP is not mined, like Bitcoin. The units are present already.

12) Although it uses the same Blockchain technology.

13) Currently, there are 100 billion ripples. Half of them are planned to be for circulation. The other half will be stay reserved with the company.

BONUS

14) Ripple transactions do not completely fee. However, the fee is negligible—equivalent to 1/1000th of a cent. So it’s considered as “Freeish”
XRP Price Chart Last 60 Days
Want to Buy XRP? Good. Read: How to invest in Ripple in India?
Facts About Bitcoin- Infographics (Click to enlarge)

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