Launched in the year 2012, Ripple is working as a payment network and currency exchange. Ripple has been designed to present banks, payment providers and it is also considered to be a fast way by which money can be sent all over the world. It has four pillars, namely:
- Access: it provides super connectivity over various payment networks.
- Speed: it provides instant settlement for transactions.
- Certainty: the funds can be traced in real – time.
- Cost: it has low transaction fees.
Ripple is widely considered to be a better blockchain technology as it is quite secure and it also provides interoperability over different networks. You might be wondering how to buy Ripple? Let us take a look at how it can be done.
- The first very step involves getting a Ripple wallet, this cryptocurrency wallet helps you in storing, sending and receiving.
- Next, you have to choose an exchange platform for Ripple. There are many exchanges that are available from where you can buy ripple coin by trading the fiat money or the current cryptocurrencies.
- Transferring the Ripple to the wallet, it is essential to transfer the Ripple which you have purchased back to your ripple wallet. Since the owner of the wallet holds his own private and personal keys to his wallet the transfer will ensure ownership of the coins to the holder of the wallet. After you get a confirmation that the transaction is being done, the process of buying Ripples gets completed successfully.
What are the perks of using fiat money to buy Ripple?
- When you use this way to buy cryptocurrencies, you will not have to buy other Cryptocurrencies first, which might be out of your budget.
- If you want to make your investment in Ripple, but you do not hold any other cryptocurrencies, then you do not need to worry as you can still buy Ripple with normal money.
There was a sudden escalation in the prices of Ripple because Ripple is considered to have the lowest transaction fees in comparison to all the other major cryptocurrencies. When you want to make international payments, Ripple is considered to be way better. The transactions that are done with Ripple are settled within no time. Ripple has been adopted by the American Express due to its speed and certainty that is been provided by the network of Ripple. Ripple also makes sure that they provide their customers with instant blockchain based payments.