Ripple has become the new talk of the town after the recent hike in its value. Right now, it stands next to the only Bitcoin in value and is gaining popularity rapidly. Since any kind of dealing, with any cryptocurrency, must be done after learning about it, we shall take a look at some basics about Ripple to understand what it basically is. In order to learn in-depth about this currency, you can browse icopulse.com, where you can find various answers for your questions.
The cryptocurrency of Ripple is known as XPR. This currency stands at a value of nearly $2..60. The market cap of this currency exceeds $ 100 billion. Even at this value, it is still far behind Bitcoin. So basically it is competing for second place with no sign of near closeness to Bitcoin. Bitcoin has been trading for $15,000 with a market cap of over $250 billion.
Ripple- a currency with a difference
What makes XPR unique to other cryptocurrencies is that it is a controlled currency. The company controlling it is Ripple. The boom in Ripple eventually led to many of the company executives becoming billionaires. The currency was introduced into the market in 2012.
One significant reason for Ripple to gain success is that it is actually connected to real banks. This makes the use of Ripple more acceptable and it gains real value. Banks that use Ripple are Santander, UBS, and Bank of America. This connection is what gives Ripple an actual value as against the superficial value of other cryptocurrencies.
Some companies in Japan and South Korea have also adopted Ripple and this further boosted the price of this cryptocurrency.
In addition to all this Ripple also has a lower transaction fee.