I have recently received an important question more than once. Is it possible to mine Ripple(XRP)? In other words, can anyone use his computer to get some digital currencies of this kind, like Bitcoin, Ethereum and other digital currencies?
It is known that you can use specialized software on your computer or purchase mining devices in order to get the digital currencies and investment in this case is the time and cost of electricity, as the process consumes time.
Bitcoin mining has become a complex and expensive process and is no longer easy to get them as years ago. Digital currencies miners are looking for profitable digital currencies that can be mined and well paid in a short period of time.
The answer to that question is not simply, you can look for Ripple Cloud Mining or ripple mining to discover this fact.
It is true that you will discover some pages that claim to offer this service or help you, but some of them actually offer you Bitcoin mining and they say simply “You can’t mine Ripple (XRP)”
Why Ripple XRP can’t be mined unlike Bitcoin and Digital Currencies?, This is what we will answer in this article.
1- A central digital currency controlled by one company:
It has produced 100 billion units, it’s an official number that will not increase or decrease, and there are about 39 billion of them on the market.
Bitcoin is produced by people who have turned their computers into part of a large global mining and data distribution network, while in the case of Ripple the company is responsible for this process.
Bitcoin is not owned by anyone and even its inventor is unknown. It is based on the principle of “ambiguity and unknownness” and is resistant to transparency while omitting centralization.
2- One way to obtain Ripple XRP:
There are no two ways to get Ripple XRP, which is to invest in them by purchasing them from trading platforms that provide you with a lot of quantities.
Their mining and obtaining it from the vacuum is a big illusion here, and can be used by the quorum to attract those who wish to obtain it free of charge.
There are no XRP mining machines or mining platforms for this. If someone shows you this, make sure that they are trying to trap you.
3- Digital currency for banks:
In addition, Ripple XRP is primarily targeted banks and financial institutions that can be used to accelerate financial transactions. These institutions can also use their own BlockChain techniques without the need for this currency!
Investors in this currency are betting on the tendency of banks to buy huge amounts of this currency in order to improve their services, not to sell them and provide them to their customers, it doesn’t come to replace the dollar and Currencies.
More than 100 banks are currently adopting this technology, and there are explicit calls to take advantage of the services of this company.
For the above reasons, we make sure that Ripple XRP mining is not possible, unlike Bitcoin and the digital currencies that adopt decentralization, so if you come across a declaration that it can be mined and obtained in this way, know that it is a trap.