The popularity of digital currencies is growing every day. It is becoming more and more difficult to find people who have nothing to do with the world of cryptocurrency at all. Many people have already adapted and learned how to make money on digital assets by profiting from the buy and sell process.
Ripple (XRP) is well-known in the world of digital assets and beyond it. Both newbies and professional traders understand the value of it. Let’s find out what’s so interesting about this project!
What Is Ripple (XRP)?
The history of Ripple (XRP) dates back to 2004 when Canadian programmer Ryan Fagger founded Ripplepay, which was just a money transfer platform at the time.
The development of Bitcoin prompted the company to focus on decentralizing the network in 2011. The main advantage of the system was its speed: transactions are confirmed by the consensus of network participants and are faster than those in the Bitcoin network.
At the same time, Chris Larsen and Jed McCaleb joined the team, united by the idea of cryptocurrency. In 2012, a new OpenCoin corporation (hereinafter Ripple Labs), which was engaged in improving payment functionality and developing a cryptocurrency, was founded.
In 2013, the company launched the XRP token based on the blockchain technology XRP Ledger. It was introduced as an alternative to payment systems like SWIFT and other digital assets, with advantages such as higher speed, scalability, and lower costs.
The creators of the coin released 100 billion coins. Each of them can be divided into 1 million particles. Each transaction in the system is subject to a fee of 0.00001 XRP. The number of assets gets subsequently reduced by burning.
The goal of the creators of the coin was to improve the global payment system and actively use XRP as a way to transfer fiat.
Prospects of Ripple
When it’s time to invest in cryptocurrencies many people choose Ripple (XRP) as one of the best options for it.
The company has achieved its initial goal: XRP is now trusted by large financial institutions and banks, a result not all crypto projects managed to achieve.
From the very beginning, the creators of XRP have focused on the banking sector and they still continue to move in the same direction. Ripple (XRP) already has partnerships with such major players as the National Bank of Abu Dhabi, the National Bank of Kuwait, the Royal Bank of Canada, UniCredit, etc.
More and more organizations understand the advantages and differences of Ripple (XRP) from other cryptocurrencies and are taking steps to integrate them into their systems.
Ripple hit its All-Time High of $3.84 in 2018. Today, some analysts expect the price of Ripple to rise because of the support from large investment funds and new partners of the project.
How to buy Ripple on WhiteBIT?
There are several ways to purchase Ripple (XRP) on the WhiteBIT cryptocurrency exchange. Before purchasing you need to:
⦁ sign up on WhiteBIT;
⦁ pass KYC (verify your identity);
⦁ deposit any preferred crypto or fiat to buy Ripple for it.
With funds on your balance, you have the following options for buying Ripple (XRP).
You can go to the Basic Trading section and select any preferable pair with XRP. Choose Market order and indicate the Price and Amount in the “Buy XRP” section. Your order will be executed immediately and you will receive Ripple on your balance.
You can also go to the Exchange page and quickly swap the currency you have for Ripple. Simply pick the asset you want to give on one side of the section and XRP on another. Specify the amount and click “Exchange”.
The third option is to buy a WhiteBIT Code for Ripple on the P2P platform called Bitcoin Global, which is a part of WhiteBIT’s ecosystem. It’s like a marketplace where people can buy crypto directly from each other. After buying a WhiteBIT Code, you need to activate it on the exchange and the funds will be credited to your balance.
The cryptocurrency market offers a lot of interesting assets, however, XRP is rightfully valued by investors, both professionals, and newbies. Do your research, weigh all the pros and cons, and select the right asset to add to your crypto portfolio. Maybe Ripple is the perfect cryptocurrency to buy.