Here are some reasons why Ripple is a good investment:
Ripple isn’t your traditional digital asset. For under $1 USD, it’s a smart investment for investors looking to diversify their portfolio. Ripple wants to transform international payments by lowering the cost and moving them as quickly as possible.
Ripple Transaction Protocol
We all know the financial system is imperfect. Normally, if someone wants to transfer or exchange money they would go through a third party (usually a bank) where they are required to wait 3 to 5 business days in order for the transaction to process correctly. And if they want to transfer funds to an account within a different bank, this usually takes even longer.
The Ripple Transaction Protocol makes money transfer or exchange process more streamlined. Transaction between two parties anywhere in the world, in whatever bank, will be processed immediately, in real-time.
Both parties will have access to a secure digital channel. This makes Ripple an efficient and reliable financial exchange platform that empowers users to conduct transactions between themselves without a third party. XRP is the digital asset used to fuel the Ripple network.
Ripple’s function isn’t just for money exchange and remittance. Technically speaking, anything could be exchanged over on the Ripple platform, developers would just need to create a pathway secure enough. This distinct function makes Ripple a powerhouse in the cryptocurrency market: empowering the user while generating profits for major corporations.
On the Way to Mainstream
Ripple is the first cryptocurrency to be adopted by mainstream companies. They’ve partnered with financial institutions to replace their existing payment networks. Now, American Express users can send non-card payments to UK’s Banco Santander accounts over AmEx’s international payment network and will be processed immediately through Ripple’s blockchain network. MoneyGram has also adopted Ripple’s xRapid transfer protocol that will make sending money not only faster but cheaper as well.
In all honesty, banks don’t adopt a technology for the convenience of their customers, but rather they do it for the money. So why would they want to use Ripple? Because they’ll still make money from customers who use Ripple to transfer funds to different banks. Banks may make even more money if people are inclined to transfer money more frequently due to the speed of transactions.
Simplified Financial Transactions
As Ripple is adopted by more financial companies and used by more people, its value will increase. Giving people the ability to send money to anyone in the world in seconds is an incredible technology worth investing in. Lastly, cryptocurrency is here to stay, there’s no question about that. But instead of cryptocurrency replacing fiat money, they will more likely co-exist with fiat money and be integrated into the financial system, making transactions simpler, quicker and more secure.