Bitcoin is the most widely known cryptoasset around the globe. But there’s an entire world out there in the cryptoasset you may not be aware of. These cryptoassets are called “Altcoins” and include massively popular names like Ripple and Litecoin.
Bitcoins are not the only go-to option if you are looking to trade online. Some altcoins are also giving huge returns as well. Bitcoin has peaked at a value of around $20,000 and currently trades for less than that. With beginner investors facing shaky confidence with such volatility, many have turned to Ripple. We even featured it in our list of ‘coins to watch out for’ recently.
Ripple became quite popular when Uphold, a platform which lets the customers purchase XRP without any transaction fees made around $3 billion worth of transactions. Ripple has also partnered with Santander, SBI Holdings and LianLian International which makes it easily available to average citizens. Ripple’s Rapid product is also being tested by MoneyGram, Mercure FX, IDT Corporation, and Cuallix Mercadotecnia.
Where is Ripple being used?
Ripple has a huge market in the blockchain with clients including banks and well-known payment providers. It is hugely popular among bank as it makes huge money transactions between nations a lot easier, and accounts for billions of dollars being transferred every day. Ripple believes that XRP can be used as fiat currency between nations which means that a person says, in the USA converts US dollars to XRP and sends them to India where the receiver converts the XRP into rupees
Should you buy Ripple?
Ripple has been gaining a lot of popularity in 2018. But if it fails in gaining further acceptance in the cryptoasset industry, it would severely impact ripple’s reputation in the crypto market.
Cryptoassets are already changing the world, helping the entrepreneurs create disruptive products, and raising funds from them via ICOs.
As the crypto market becomes more popular, the value of Ripple will also balloon. Apart from being cheaper (and therefore gaining a psychological advantage), it also has chances to provide a higher return (nearly 5.5 times) compared to the bitcoins (1.5 times), according to analysts.
As the cryptoasset market grows, investors may want to focus on XRP and other such options. The huge size of Ripple’s market (and its institutional backing) is a clear sign of the potential of it has of becoming one of the most valuable cryptoassets in the future. Its partnerships with the industry leaders not only establishes the legitimacy but also help in its wide acceptance as well.
Many cryptoasset watchers have become obsessed market capitalization which refers to the amount of virtual currency going around. It is calculated by multiplying the price of a particular asset with the number of units.
Bitcoin which is arguably the biggest player in the market, that resulted in the popularity of other cryptoassets as well and the investors, are looking forward to these alternative options.
Currently, the two popular assets — Ethereum and Ripple are fighting for the second spot and it seems like Ripple will gain the upper hand with the popularity and wide appeal, although it won’t be a surprise if it surpasses bitcoin in the future.