Ripple is a blockchain technology that acts as both cryptocurrency as well as a digital payment gateway, it came into existence in the year 2012 and the main purpose of this network is to behave as a payment settlement asset exchange for financial transactions. The symbol that is used for this cryptocurrency is XRP however, Ripple is the name of the company and the network. XRP acts as a medium to exchange currencies between the two networks – in the form of a temporary settlement layer denomination.
It is ranked amongst the top cryptocurrency to invest in by market capitalization. Very less energy is required for ripple than that is needed for bitcoin transactions. The time that is needed to buy ripple cryptocurrency is also less than bitcoin.
Here are the top 3 reasons to buy ripple in India:
Adopted by banks
Many Indian banks like SEB, Yes Bank, Axis Bank, SBI Remit, etc. have already adopted Ripple. This makes it the first digital currency to be adopted by major financial institutions. It is a trend gaining momentum that is giving investors good reasons to buy Ripple INR.
XRP comes in handy when it comes to international transfers. it can be used to exchange not just digital currency but money and information as well. Many users are attracted to the Ripple network as it conducts a secured transfer of money. This is one of the major factors that attract investors to invest in Ripple.
Good technical team
It attracted quite a great number of venture capital and some major investors when the journey of the currency began. Google is one of the prime investors of this token. It is another great reason for investors to rely on Ripple.
How to Buy Ripple Cryptocurrency in India
Ripple requires multiple steps to invest in the coin as it is an altcoin. The steps include investing in a basecoin, transferring your account, then investing in Ripple. There are some platforms in India that will help you buy Ripple.
With all that said, here are three simple steps to invest in Ripple in India.
Step 1 – Create an account on a medium of exchange that is available in India. Do your research and find the one most suitable for your investment.
Step 2 – You can place your trade and buy ripple on the platform. Having all the details in the account will help you have a follow-up on your currency easily.
Step 3 – Start your investment after you buy ripple cryptocurrency as per your research.
How Ripple Is Different from Different Cryptocurrencies
Ripple is quite different from its counterparts in the market like Bitcoin and Litecoin as it was created by a private, for-profit organization. When the token was created, 100 billion XRP were released into the market in which 20 billion were held by the creators, and the rest was given by Ripple Labs. To ensure users’ stability in the marketplace Ripple Labs has placed 55 billion XRP in an escrow account.
It has seen ups and down in its prices, but it is still very affordable in terms of pricing.