Hello investors, today we are going to tell you some basics about the cryptocurrency i.e. Ripple.
Ripple is one of the most popular crypto-currency in 2018. In the initial weeks of January 2018, it was traded on $3.25 per coin. The last year it was floating between $0.20. But this year has come with the rise of ripple & is expected to rise more.
Read More :-
You should be clear in one concept i.e. Ripple is a company & XRP is the coin, most of us are naming it Ripple, which should be corrected.
Ripple or XRP is made with different concept , i.e. distinct from other crypto-currencies. It was created by a private & profit company. The company made this to create a global system for transacting money in the world, the aim was fulfilled by the currency. Now the company is the largest holder of XRP in present.
How to Buy Ripple for Investment or other plans ?
Ripple is not an easy crypto-currency to buy. There are some steps to to invest in Ripple rather than simple as Litecoin & Ethereum. So I will try to explain you all the steps in a very simple manner.
To start all this, you need to have two accounts to invest in Ripple.
- To buy bitcoin first of all, you need a Coinbase account. Here you can get $10 free when you invest $100.
- Next is to have a Bitsane account for buying Ripple using those bitcoin.
Now , after this you can follow the steps given afterwards.
What Is Ripple (XRP) ?
This para will tell you about the basics of Ripple. Ripple was intended to create a global payment processing platform that allows global transactions using their own coin i.e. XRP. Ripple is still a payment platform, but after many companies took interest in it, Ripple grew as a currency.
Ripple uses block-chain ledger which is similar to bitcoin but the technical specifications are updated to create transaction process easier & faster with the same level of security.
How Ripple Is Different from Other Crypto-Currency
Ripple is different than many other cryptos as I already told you. It was created for gaining profit. In its initial time, 100 billion XRP were released in the market, where 20 billion were owned by the creators of Ripple & Ripple labs. Ripple labs Ripple Labs has placed 55 billion XRP in an escrow account to ensure users stability in the marketplace.
Ripple was called a strong bitcoin competitor soon after it was made. But contrary to the statement , it has gained popularity in 2018 among cryptocurrency enthusiasts.
Ripple has raised its price recently but still too cheap in terms of price.
How To Invest In Ripple Step by Step in 2018
To invest in Ripple is not as easy than other. There is a news in market that Coinbase would add the support for Ripple soon. It it happened then the price of Ripple will increase surely as this will increase the ripple holders & leads to increase Ripple more.
Presently , you need to follow the steps given below to buy Ripple.
Create A Ripple Account Using Bitsane
First of all, setup a Ripple Account. Ripple keeps the list of recommended exchanges that you can buy XRP here.
Use Bitsane which is a popular option because it allows crypto-to-crypto transactions from companies like Coinbase. Remember you can’t send money to Bitsane , so you need to go to Coinbase -> Exchange (Bitsane) -> Ripple.
For this whole process, you need to have two accounts i.e. Bitsane & Coinbase. Soon this will change in near future.
Buy Bitcoin or Ether on Coinbase
After the Ripple Account is steup, you need to buy Bitcoins or Ether on Coinbase. After the coinbase account is setup, You have to click on the Buy/Sell page and enter your information. Then, your Bitcoin will be in your wallet and you can move to step 3.
Transfer Your Bitcoin To Bitsane
After your Bitcoin or Ether are transferred to your coinbase account, you can transfer it over to Bitsane. This is very easy task.
Now click ‘Balances’ in your Bitsane account , then click ‘Wallets’ & see all the different coins which you can hold in your account.
As you are transferring to bitcoin, click on Bitcoin & you can see the Wallet Address. See how it looks.
After you get the address , click on Coinbase & choose ‘Accounts & ‘Send’. The screen will show you to send Bitcoin to the address generated in Bitsane.
After your Bitcoin are in your Bitsane account, you can finally buy Ripple (XRP). On the homepage of Bitsane , click on the XRP / BTC (or XRP / ETH), and setup an exchange.
After your trade is done, you can see the update in the Bitsane account.
The degree of risk is always involved in any currency which varies it’s price. While Ripple has less chance to lower its price.So if you can take a calculated risk on investing in Ripple, then go for it.
May you will get the high returns on it after few years.
These are very small tips which you will like. If you find this article useful, then please comment to let us know , Share with your friends & Family to get some useful information about the same. Thank You.