5 Reasons to Buy Ripple in India
- It is the sixth Largest Cryptocurrency by Market Cap.
- It can process up to 1500 transactions per second.
- Since 2017, Ripple has grown over 3000% in a span of 4 years.
- It has a market capitalization of more than $51 billion.
- It has a maximum supply of 100 billion XRP coins.
What is Ripple?
Ripple was launched in 2012, with a focus on providing cross-border payments at low costs.
It was designed to provide instant payments at significantly low costs, which the rival cryptocurrency Bitcoin lacks. It has a low processing time that helps for instant and secure transactions. Ripple is a blockchain-based payment network that has its own cryptocurrency with the name XRP. What differentiates Ripple from other cryptocurrencies is the fact that ripple coins are not mined. They are burned as the gas fee after a successful transaction.
3 Things to know while Investing in Ripple (xrp)
- While the competitor Bitcoin takes 10 minutes for approval, XRP processes in just 3 to 5 seconds.
- It works on the Federated-Byzantine Agreement (FBA) model.
- It was designed to be used as a cryptocurrency on Ripple’s blockchain platform.
To buy Ripple directly, you can engage in a P2P (Peer to Peer) trade. Decentralized exchanges or DEX are an option that connects you with a seller, or you can buy Ripple directly from someone you know. The catch here is in the functionality of these decentralized exchanges that can make your process tiresome as well as it is difficult to find a trusted seller that can provide the cryptocurrency. Therefore, this route is suited only for pro traders.
People who are just starting their journey of cryptocurrency might want to take the simplified route and Download CoinSwitch Kuber!
You can buy Ripple in just 4 steps on CoinSwitch Kuber:
- Open CoinSwitch Kuber, click on the Market tab from the bottom navigation, and select Ripple.
- Click on the ‘Buy’ button.
- Enter the amount that you would like to buy Ripple for, say ₹100, and click on the ‘Preview Buy button
- Check all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Ripple!
There is no definite answer for this question as a majority of cryptocurrencies are still evolving (in the development stage). The prices can surely rise in the coming years and you would regret not buying it at low prices.
Instead, you can invest small amounts periodically and balance the opportunity and risk. Start investing in Ripple for as low as ₹100
There is no clock that shows the best time to invest in cryptocurrencies. If you are someone who looks for the prices to dip and then make the investment, you are missing out on the possible returns if you would be starting now.
Start investing from now. You can also choose to add small amounts periodically, or a better approach would be to invest a lump sum in Ripple (XRP) in dips and average your portfolio for better returns.
Just as making a payment could be the most complicated and tiresome job or as easy as processing with a click; buying cryptocurrencies also depends on the experience you choose.
Most of the cryptocurrencies apps that are available in the market are complex to use with difficult functionality that can make your buying experience horrible; however, CoinSwitch Kuber provides complete peace of mind by allowing you to buy cryptocurrencies with a click.
Disclaimer :The content of this article is for informative purposes only. It is not intended as a substitute for investment/ financial advice. If You decide to act upon this information, You shall do it at your own risk. While such video/ article has been verified, it depends on third-party sources too, and CoinSwitch Kuber does not guarantee that there are no mistakes or errors nor does CoinSwitch Kuber represents the views presented in such article to be it’s own.