Ripple was originally (and still is) a payment processing platform that enables global transactions using its XRP coin. Its global payment network was launched in 2012 and continued to grow as companies embraced it, and currency speculators became interested in Ripple.
Ripple uses a blockchain registry similar to Bitcoin and other crypto-currenys, but there are also technical differences that claim to facilitate the processing of transactions, and more importantly, faster while remaining secure.
How Ripple is different
Ripple is different from its main competitors Bitcoin and Litecoin in that it was created by a private, for-profit company. When it was created, 100 billion XRP were released to the market, 20 billion being owned by the creators and the rest being given to Ripple Labs. Ripple Labs has since placed XRP 55 billion into an escrow account to ensure the stability of users in the market.
How to invest in Ripple (XRP) step by step
Ripple has become a popular topic recently as it became cryptocurrency 2 for a brief time last week. While trading at about $ 0.20 last year, it is now worth more than $ 3.25 per coin and continues to grow. It’s important to note that Ripple is the company, and XRP is the coin, but most people just call it Ripple.
Ripple (XRP) is different from many other popular crypto-currencies because it was created by a private, for-profit company. This company wanted to enable a frictionless way to send money globally, and that’s thanks to Ripple. This company is also the largest holder of Ripple today.
Ripple has had explosive price increases similar to other currencies recently, but it’s still very “cheap” in terms of price.
How to invest in Ripple
As we mentioned earlier, Ripple is not “easy” to invest. However, there are rumors that Coinbase will add support for Ripple in the near future. If this happens, you can expect Ripple’s price to rise significantly as new investors can easily buy the currency. However, today you must follow a strict process to buy Ripple.
1. Create a ripple account
The first thing to do is to set up a Ripple account. Ripple keeps a list of recommended exchanges that you can buy XRP here.
So, you will always need two accounts:
Bitsane: that you can register here (You can also invest in Dash on Bitsane)
Coinbase: Coinbase gives you $ 10 in free Bitcoin when you sign up and deposit $ 100 or more
Hope these changes soon, but it’s like that today.
2. Buy Bitcoin or Ether on Coinbase
Once you have set up a Ripple account on Bitsane, you need to buy Bitcoin or Ether on Coinbase.
It’s very easy to do once you’ve set up your Coinbase account. You simply go to the Buy / Sell page and enter your information. Then your Bitcoin will be in your wallet and you can go to Step 3.
3. Transfer your Bitcoin to Bitsane
Once you have your Bitcoin or Ether in your Coinbase account, you can transfer it to Bitsane. It’s also pretty easy to do.
In your Bitsane account, simply click on “Balances” and then “Wallets” and you will be able to see all the different coins that you can hold in your account and this is the easiest way to buy ripple.