Before deciding to invest in any cryptocurrency including XRP (Ripple), it will be imperative to perform your own research by reading the latest xrp news and invest only what you can afford to lose. In this article, we will throw light on the topic whether XRP is a wise investment or not.
XRP enables almost instantaneous international, cross-border money transfers. The primary target market of XRP is the financial institutions which hold huge amounts of XRP for transacting almost instantaneously with one another.
Although the main target market for XRP is the banks, it is used by everyday people for the purpose of money remittance. For instance, $2,000 can be sent to somebody overseas and it will reach to that person almost instantly while costing less than one cent. On the other hand, a SWIFT Bank transfer would have cost somewhere between $20 and $50 plus would have taken several days as well.
Advantages of XRP
- XRP comes with really quick transaction times and the transaction will take about 4 seconds to be processed.
- The transaction charges of XRP are quite inexpensive. They are presently under 1 penny at $0.004 every transaction (less than 0.5 cent).
- XRP is likewise partnered with more than hundred financial institutions out there including the Bank of America, JP Morgan, Standard Chartered, UBS, Barclays, Santander as well as American Express.
- The blockchain of XRP adds additional security as well as transparency to the transactions by adding every single transaction to a public ledger that is not possible to alter or change.
- There isn’t any central point of failure given that Ripple transactions are actually peer-to-peer.
The future looks good for XRP in case it can continue adding more banks to its roster in the future. The technology is promising and the individuals behind it are also great. So it will be interesting to see how everything plays out in the long run.