Note: “This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.“
Before you decideIs Ripple Coin Worth To Buy In 2017, first you must get some idea about ripple coin, XRP and Ripple lab. Because you need to know about them first place if you decided to invest your money in Ripple.
As you know, since the introduction of Bitcoin, the values of digital currencies are increasing day by day. Even in a very short period of time, the value of the digital currency has been raised by thousands and become one of the most expensive currencies to purchase and invest. Just like that, Ripple is another digital currency which has been ranked the third most valuable digital currency after Bitcoin and Ethereum. Very few people know that Ripple coin is older than Bitcoin. In 2004, the concept of Ripple coin was discovered by its inventor but due to some reasons, they have launched it in 2012 through their Ripple lab.
It is another digital currency which can be invested exchange and even converts into other currencies including paper money and coins. Like other digital currencies, it does not have any shape but it has value against the dollar which is being raised day by day. According to the investors of XRP, the rate of Ripple coin has been increased by 75% in past few weeks due to the popularity of Bitcoin because one type of investment affects the other type of investment of the same category.
Why is Ripple becoming popular?
The Ripple is becoming famous day by day due to several reasons in which the increase of its coin value is at the top. According to the Ripple Lab and the investors of Ripple coins, the value of Ripple has been increased by different rates. Some claims that in very short period, its value has been increased by 75% where other says 50%. In short, increases in the value of this digital currency, people are now moving from Bitcoins to Ripple. The value is low and it is easy for every investor, including the small investors, to invest in Ripple.
The other reason which makes Ripple coin popular is its acceptance. Yes, today, Ripple has been accepted by dozens of popular banks all around the world including SBI. This makes it very easy for the people who own Ripple in their online account. They can convert or exchange them easily with the help of these banks.
Ripple is also becoming popular among investors due to Bitcoin. Now people are moving to invest in digital currencies. In past couple of weeks, the value of Bitcoin has been jumped from $700 to $2,700 (Today Bitcoin Price is: $4800). This made people start investing in digital currencies. The small investors who cannot invest in Bitcoin due to its high price now prefer to purchase Ripple. This also made ripple the second most invested digital currency.
Why should you invest in Ripple XRP coin?
First Read This Article: How Ripple Work.
I am not going to say you to invest in the Ripple XRP coin without giving you different reasons. Following you can read the reasons which make me invest in Ripple coin and I am sure that these reasons are enough to convey you to invest in Ripple.
Reason 1: Ripple has an impressive list of investors
Ripple is a startup which has been financed by different investors. This venture capital startup has the name of world popular companies including Google. Since the value of Ripple is increasing, many other popular and known companies also decided to invest in this venture capital in coming months. This gives Ripple an authority to invest and build trust for their investors.
Reason 2: Big banks are now accepting Ripple coins
The digital currencies do not have any physical appearance due to which the financial institutes like a bank does not accept it. Even the digital currency like Bitcoin is not acceptable by most of the banks around the world. Ripple is different. The XRP has been accepted by many known banks around the world. The Santander (a UK based bank) was the first who accepted this coin. Today, there are more than 75 international banks who are accepting Ripple as a currency. This makes it easy for investors to convert this coin into other currencies.
Reason 3: Ripple is economical than Bitcoin
If you are limited with the investment and cannot invest in Bitcoin due to its high prices, then Ripple is a great solution for you. First, it does not have a very high price and second, they do not charge any fee like banks and PayPal does on the transaction. Due to its low price, the chances of increase in future are very high.
Reason 4: It is the third most popular digital currency
As you know that the digital currencies are becoming popular day by day. Investors are investing billions of money in this. In future, this currency may replace the paper money. After Bitcoin and Ethereum, Ripple is the third most popular currency. As an investor point of view, the chances of profits are high.
Reason 5: XRP can be sent anywhere around the world
Today, XRP has been accepted by many banks in different countries. This makes it easy for its investors to transfer it in another part of the world within seconds or exchange it for paper money. You do not need to wait for the specific price to exchange or convert your ripple coin in any other currency. Ripple lab itself can take your XRP for this purpose.
Reason 6: Digital currency does not have any counterparty risk
The currency of a country gets affected in a negative way due to its law, political condition and economic change. Due to these changes, the investors have to suffer from big losses. But this does not happen in the case of digital currency like Ripple coin because this is not registered under the law of any country or belongs to one country only. The political condition of any country does not affect its rates in a negative sense. So, this is a counterparty free risk investment. Also, due to zero counterparty risk, the inflation (including general inflation) does not affect the value of Ripple coin.
Read also: How to Buy Ripple XRP Coin [Ultimate Guide]