Introduction to Ripple
Ripple (trading symbol: XRP) has surprised crypto investors in recent times as, with a growth of nearly 200% in the last 2 months. The reason of this is related to the innovative technology Ripple has been built on. Although XRP is generated through mining and utilises the same technology (blockchain) for its peer to peer transactions, XRP aims at becoming a universal payment system that works across any type of currency, either Virtual/Digital but also and most importantly, Fiat.
Importance of Ripple
Ripple has received focus by traditional financial organisations such as Earnest&Young, Price Waterhouse Cooper and JP Morgan, which typically do not give attention to crypto currencies. This is due to the fact that unlike Bitcoin, able to generate transactions solely via Blockchain, XRP aims at creating a payment echo-system where the end user can execute transactions using any currency, thus working across multiple currencies and treat each of them as one, always without the intervention of governments central banks.
How to buy Ripple
It is not possible to purchase XRP as you would normally buy Bitcoin or Litecoin. The possibility to buy XRP by using your debit/credit card as well as traditional e-wallets such as PayPal or Neteller normally depends on the availability of each cryptocurrency. PayPal used to offer the possibility to purchase virtual
currencies but it has recently withdrawn its offer.
At the moment, if you want to buy the physical XRP, this is avaialble to buy on exchanges like Coinbase and using
fiat currencies such as USD, GBP or EUR. However, as explained in our introduction to crypto currencies, we recommend
not to use exchanges due to their lack of regulation and accountability in case of any issues.
We still recommend to buy and trade Ripple by using one of the brokers reviewed and presented on our site.
How to Trade Ripple
Due to its recent rise in value, at the moment XRP is one of the easiest crypto currencies to trade and make money with,
it’s rise has been over 500% in the last 6 months so these are the profits you should be thinking about when you are
ready to start trading Ripple. Regardless of its simplicity to trade, you should always think about the level of exposure
you want to have when trading XRP. in order to be profitable and avoid being hit by a stop loss in case XRP has a slight decline,
you need to have quite a lot of capital (at least $10,000) to be successful. A good alternative in case of insufficient capital is to trade XRP with leverage.
To do this you need to go through a broke like those presented on this site. All brokers look similar but they are actually very different at the same time.
The main differences reside to its customers services, spread costs and other fees (for example, on deposit and withdrawals),
regulation and geographical location. We always recommend you to trade XRP with a broker that you trust, that is always
available to assist you over the phone and do not give out false promises too easily.