RIPPLE (XRP) SUPPORT NUMBER :- 【+1(877) 827-8957】
What is RippleNet?
RippleNet is a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to provide a frictionless experience to send money globally. This platform gives an advantage of making payments in any currency that includes bitcoin and the transaction cost is $0.00001 which is very less. The reason behind not keeping the transaction commission zero is to prevent DDos attacks.
Little idea about XRP
XRP is a token plays an important role in transferring the value across the Ripple network. It plays the role of mediator for both the platforms – cryptocurrencies and fiat exchanges. The best word that suites on XRP would definitely be Joker. You can easily exchange dollars to euro; it can easily be dollar with dollar and euro to euro to diminish the commission. The transaction cost on Ripple is $0.00001.
What are the benefits of Ripple?
In 2004, the protocol as a working prototype was started and but in reality, in 2013 was the time when Jed McCaleb, the creator of the EDonkey network invited and asked world rank investors to an investor in Ripple Labs.
- a) The Ripple was designed for workaday payment system so it has high power capacity than bitcoin and is far safe than them, which helps in making transactions a little quicker and cheaper.
- b) It can be exchanged into any currency or other important and expensive assets like Gold with a unified minimal commission.
- c) The initial stage, it was started as an official organization as its main focus is on banks.
Banks supporting Ripple
- Axis Bank
- Yes Bank
- Union Credit
Use of Ripple
- a) It helps in making fast international transactions. The average processing time is 4 seconds which is comparatively faster than bitcoin which takes a few days for banking systems.
- b) Users are allowed to issue their own currency to make a fast and cheap transaction.
If you are planning to invest in Ripple, here are a few points to go through before starting the process. Check out the advantages and disadvantages of Ripple
- a) Advantages
1) It is an official organization and is a trusted organized by numerous banks, unlike blockchain startup.
2) There is no inflation factor as all the tokens are mined and exist already.
3) Majority of the banks us it as a transaction platform with the high value of XRP. In case, all banks start using it as a unified bank currency rather than processing redundant currency exchanges, it would surely help those who have invested in Ripple.
- b) Disadvantages
1) It is highly centralized.
2) All the tokens are mined and investors can decide what, how and, when to release. You can consider investing in a ripple as investing in a bank.
3) Ripple Labs has 615 of coins making it as a monopoly.
4) It is an open-source and if once someone is managed to access code, it is easy to hack it, while, a few of them have been able to succeed.
Is investing in Ripple worth?
In comparison to its other competitors, Ripple is hard to invest in. If you are serious about making money, investing in Ripple is a good thing. Poloniex and Kraken are the most popular currency exchanges investing in Ripple and on both platforms; you can exchange bitcoin for XRP.
Ripple is easy to use but still, users get into errors while working on it. If you face any issues and feel the need for guidance from the team of elite professionals who are always there to help you out from the difficult situation. You need to call on Ripple phone number which is functional and you can speak to the professionals to avail perfect and desired solutions. Connect with the team to get solutions that are easy to execute and help in fixing the error immediately without any obstructions.