Lets talk about Ripple
Hello guys, i have been doing much of research on this digital coin called ripple. Considering its one of the most hated coin if not the most hated, by cryptocurrency enthusiasts due to its centralised nature. Its centralised nature makes banks have control of the currency thus going against the true will of having a decentralised world where money was fully controlled by people but not any financial institution or government.
That being said, there are a some reasons why i would invest in ripple for long term purposes.
Here are the reasons why:
1.Adoption by top banks in the world
About 75 of the top banks in the world have joined the ripple community among them being the Japan bank which is the largest bank in Asia. What this tells you is that the rate of adoption of this currency by banks is increasing hence the demand is growing.That means that the price of ripple will increase with time and thus buying now when it is as low as 0.29$ might earn you a great return in future, maybe next.
2 The Solution that Ripple provides on Easy Money Transfer
Ripple was designed to offer solution for transferring huge amounts of money across the globe easily.Also to reduce the cost of money transfer. Considering that banks spend a lot of money to transfer huge amounts of money across the globe, most banks are likely to adopt ripple to reduce this cost.This might make ripple's value to greatly increase in value.
3. The Fact that Ripple will be the Digital Currency of Banks
Due to the high growth of the cryptocurrency market, right now at 100 billion dollars, and Bitcoin being the King of all the digital coins. Banks fear that in the coming years they might be out of business completely and digital currency will take over the lead in the financial world. To be able to stay in business during this revolution which is coming soon, all banks will have to adopt a digital currency and the best match at this time would be Ripple.
So guys, I would really advice, spare some of your extra cash and buy ripple. Hold it until next year and thank me when you cash out your profits .
You can share your views about this
Ripple is not going anywhere soo soon..
Very true
Ripple is here to stay
nice post bro.
Thanks
Ripple really does actually solve a huge problem that banks experience.
If you really want to see what the fuss is about, try wiring money over seas with a traditional wire transfer, Then look at a ripple transaction.
It's cheaper, faster, and easier. If banks accept it, Ripple is going to be one of the largest traded intermediaries ever.
very true
i have high hopes of it reaching where bitcoin is right now
I bought a bunch of Ripple in February/March, so i definitely have a soft spot for XRP. I think a lot of the trepidation around XRP though is (at least to me) it isn't 1000% clear the association of the currency to the work they are doing with their partner banks. They are using ILP (Inter Ledger Protocol) for that value transfer management. I havent been able to find a great concise description of just how exactly the currency fits in. Either way, I still agree its a buy - less fundamentally - but definitely for the fact that they are one of the few companies in crypto with real adoption and people will continue to flock to it.
Good points in this blog. Interesting to see I'm not the only one that is thinking about this. It's surprising how much uneducated investors the crypto space has. You still see people invest in this shady and scammy coins. We do need to look better at the insights of every coin. What team is behind it, is there any management. How strong is the product, is there any product at all? I found this amazing platform: https://www.coincheckup.com I'm really happy with this site that gives complete coin analysis for every single crypto. Go to: https://www.coincheckup.com/coins/Ripple#analysis For the Ripple Detailed report.