The Best Long-term Cryptocurrency You Should be Investing In

When you want to increase your money, you have to stop saving it and start investing it instead. However, saving money is much easier than investing it because investing requires you to take risks. Now, when you have to put your money in a market like the cryptocurrency market, you have to be even more careful. This market is huge, emerging, and volatile at the same time. Many online platforms are there only to make you deposit your money in their bank accounts so they can run away with it. Furthermore, if it comes to investing directly into a cryptocurrency, you have to know which one would survive in the long-term.

There are thousands of currencies to choose from and just as many online platforms where you can trade these digital coins. Pick the best ones and you might just be on your way to becoming filthy rich. Pick the wrong one and you will lose all the money that you have saved for investments. You are highly recommended to give this XTR Gate review a chance to find out about a safe platform for trading cryptocurrencies and making money from them. In the meantime, here is some information about the cryptocurrency that is definitely here to stay for a long time.

Introducing XRP

XRP is the symbol for Ripple. If you read in details about Ripple, you will realize that Ripple itself is not the cryptocurrency. Instead, it is the name of the platform that simplifies the movement of money from one point to another, specifically from one end of the globe to another. It simplifies the movement of the value of money across people and institutions so the intermediaries can be removed, the costs of transactions can be reduced, and the timings of these transactions can be quickened. XRP remains one of the most names in the cryptocurrency industry.

So, it should be clear in your mind at this point that Ripple is not the currency but the name of the system in which you move money here and there in the form of XRPs. It is amazing that a platform that has its own currency/digital coins, would allow others to create their currencies in the system a well. Yes, if you do not know, RippleNet is the platform that developers can use to create their own cryptocurrencies on this system.

How XRP Works

When you are new to the concept, it might take you some time to understand it. It is quite ironic because the system is meant to be simple and easy for everyone. So, in an example, you might want to sell your computer mouse for a USB C cable for your phone because you do not use a mouse with your laptop anymore. In the real world, you will be hard pressed to find someone who wants to exchange a USB C cable for a mouse. On the Ripple network, you will find someone who is willing to exchange just that.

When you exchange the two products, you can exchange the different in their costs as well. All you have to do is to transfer from XRPs to the person who is giving you an expensive item compared to the one you are selling to that person. The transaction will be extremely fast, without the need of a bank in the middle and any transaction costs that could be heavy on your budget. If you want to know the exact cost of the transaction, that’s $0.00001. That might sound like a joke but it is not.

Why It Is a Long Term Investment Opportunity

It is important to notice here that there are two different types of traders/investors in the cryptocurrency markets. The first type wants to benefit from the price differences of cryptocurrencies fast. On the other hand, the other people want to stick to their digital coins for future as well. They are in it for a long time. Just because a currency is giving you great returns today does not mean it will give you the same returns tomorrow as well. So, before looking at the gains, you should be looking at the future value and scope of a cryptocurrency. That’s where Ripple beats even the biggest giants of the blockchain cryptocurrency world.

One of the things about cryptocurrency is that their creators usually disappear after the initial hype. Many cryptocurrencies were nothing more than a noise that lasted only for the duration of the ICO, which makes those cryptocurrencies not so investable. On the other hand, you still have Ripple in the news and in good light. The owner of this digital coin is always doing something. Just recently, the company has become a partner of MoneyGram. XRP creators wish to own $30 million worth of shares in MoneyGram.

Some authorities around the world have already started to use Ripple for transferring funds across borders, and PNC treasury is one of those names. You can say that the team behind Ripple is the most active right now and you see them making new clients around the world every single day. Because of their amazing efforts, they now have big names such as Axis Bank, Standard Chartered and American Express as their clients in different types of endeavors.

At the time of writing this, XRP is there ranking third amongst all the cryptocurrencies that exist today. It market cap is smaller than ethereum and bitcoin only. However, its circulating supply is definitely more than that of bitcoin and ethereum.

Final Thoughts

You have to realize that investing in cryptocurrencies and investing in long-term cryptocurrencies are two completely different things. When you want long-term results, you have to make sure that the cryptocurrency has the strength to survive the storms of regulations and waves of fluctuations that are a commonplace thing in the cryptocurrency market. At the same time, you have to see what the adoption rate of the cryptocurrency is among institutions, public, and governments around the world. Based on those factors, Ripple is one of the top five cryptocurrencies you should be considering investing your money in this year.