Ripple (XRP) can’t be mined like Bitcoin and other digital currencies because of many reasons which shall be discussed further. As Ripple mining cannot be done directly, one of the options can be mining other cryptocurrencies first and then convert it into XRP. In this way, you can lay your hands on XRP directly, without having to pay for the XRP mining process separately. The other options can be looking at Ripple Cloud Mining to discover this fact.
Ripple Management in itself holds around 60% of XRP in ledger escrows. If the management releases coin up to one billion per month, then the expected release rate will be much lesser than the upper limit of one billion, wherein the unused balance gets rolled over into a new escrow, which won’t be released until the first month when no escrow is scheduled for release. To put it simply, XRP would be gradually exhausted as more people use the Ripple network to process the transactions, thus raising its value in the process.
One of the other reasons it can’t be mined is it is centralized, controlled by one institution.
Ripple is one of the fastest-growing payment system, which has advanced features like faster transactions and increased stability. On top of that, XRP has no systematic risk, improved consumer experience, and low fragmentation.
No, XRP cannot be mined.
XRP is one of the top three potential coins which can be considered for investing.
XRP is trading at $0.228751 as of December 09, 2019.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!
|INR to Bitcoin||INR to XRP|
|INR to Dogecoin||Buy Bitcoin Gold in India|
|Buy Zcash in India||INR to BNB|