XRP is one type of cryptocurrency that you should never do away with. If you are looking for how best to carry out cross-border transaction, then you should consider XRP. This cryptocurrency may not be as popular as bitcoin and ethereum, but it is still one of the best cryptocurrencies to invest your hard earned money since you will always get a lot of money back by the time this cryptocurrency rises in value. It is good to invest in bitcoin and ethereum considering how very important they are. However, it is not the only cryptocurrency you should consider; you should also consider Ripple and you will never regret it.
Continue reading to learn about some of the special features of this cryptocurrency.
How does it differ from bitcoin?
As mentioned earlier, bitcoin is the most popular of all the cryptocurrencies in the world today. It also receives most investments from among those who are investing in bitcoin globally. Bitcoin came into existence in 2012 and it had a very small value then. However, the value of bitcoin has grown over the years and it once went above $11,000 before plummeting to around $3000. Despite plummeting in that manner, no other cryptocurrency can boast of the same value as bitcoin. Ripple still remains a distant third to bitcoin in value.
Aside from market value, several factors still differentiate bitcoin from XRP. For one, XRP can be trusted for a better and faster cross-border transaction than bitcoin. Bitcoin is a completely decentralized cryptocurrency. XRP, on the other hand, is more of a centralized cryptocurrency. This is because all its services come under the umbrella of the XRP organization. XRP has its main focuses on institutions and banks that use it for processing cross-border transactions. Bitcoin differs in that it does not involve a third party like banks and convention monetary systems.