Ripple is one of the most popular cryptocurrencies in the market. It currently stands in third place, after Bitcoin and Ethereum.
You're probably wondering what is Ripple and why is it so popular? You don’t need to look any further as I'll cover both of these questions in this guide.
I will provide you with a complete overview of Ripple coin, its pros and cons, features, current value, and so on. By the end of this guide, you will also get to know more about Ripple's security features - one of the most important aspects that you should always take into consideration!
Before getting to know more about Ripple coin, you should know that it's crucial to buy XRP from reliable cryptocurrency exchanges, such as Coinbase, or choose an even easier way and purchase it via Simplex - fraud-free payment processing that allows you to buy crypto with a credit card. Also, store it in safe crypto wallets, such as Ledger Nano S.
The first thing you need to know is that Ripple is a cryptocurrency focused on solving the problems related to international payment transfers.
To be more precise, Ripple is a platform for a global system of payments, settlements, and exchange. XRP is the cryptocurrency that is exchanged on this platform to facilitate transactions.
Ripple was released in 2012 by Ripple Labs Inc. with just one thing in mind — to provide one frictionless experience to send money globally using the power of blockchain.
So, Ripple is different from both Bitcoin and Ethereum. While Bitcoin is just a digital currency, Ethereum is a platform for developing smart contracts. Ripple, however, is a new payment infrastructure targeted towards international financial transactions.
XRP creation and circulation is another exceptional aspect that you should be aware of. When it comes to the majority of cryptocurrencies, new coins are created via the process called “mining". Well, that’s not the case with Ripple coin. All 100 billion XRP were created right when Ripple started.
What’s even more surprising is that Ripple labs hold about 55 billion XRPs itself. Needless to say, this is quite an unusual situation as the focus is usually on decentralization.
