Category: Cryptocurrency

Ripple is an innovative concept which seeks to reduce the commissions and waiting times of money transfers. In other words, it is a decentralized network that aims to offer money transfers virtually instantaneously, safely and cheaply. The crypto coin used in the Ripple platform is the XRP, although commonly it is called “Ripple”. If you want to know more about this currency and take advantage of all the benefits it offers, do not stop reading.

Ripple explained

Many people have trouble understanding what Ripple is, although, in reality, it is a simple concept. Ripple is a decentralised payment platform, i.e., it does not depend on any central bank or financial institution. The creator of Ripple has distributed servers across the globe with which it seeks to streamline transactions on the platform as much as possible.

The primary purpose of the Ripple network is to offer virtually instant and cheap money transfers. At present, a traditional bank transfer between different countries can take several business days and have remarkably high costs. With Ripple, the goal is to reduce transaction time to a few seconds and costs a few hundredths of a dollar.

The transactions in Ripple are carried out in the XRP crypto coin. However, thanks to the popularity of the network, more and more people also call the virtual currency “Ripple”.

How much does a Ripple cost?

To know how much a Ripple is worth, just visit the official website of the company. The price of the Ripple is given by the average price weighted by volume of the last 50 transactions in Bitstamp, one of the most famous cryptocurrency exchange centres at the moment.

Ripple, like Bitcoin, is not influenced by any central bank. That means that the quotes reflect the real supply and demand that the currency has in the market.

How to get Ripple

Taking into account that the primary purpose of the network is to facilitate money transactions, buying Ripple with traditional currencies and other crypto-currencies is very easy. All you have to do is visit an exchange centre. Luckily, the official Ripple page detailed several reliable portals.

It is worth mentioning that Ripple is a bit different from Bitcoin in the sense that you cannot mine it. In other words, there is no method to get Ripple for free. If you want to buy this encryption, it is best that you do it as soon as possible, as long as their prices remain low.

How to turn Ripple into money

Ripple is a relatively new crypto-currency, so at the moment no intermediaries are willing to exchange it directly for cash. However, it is possible to change Ripple into other more famous virtual currencies, such as Bitcoin or Ether, and then perform the conversion to cash.

This process is usually a little more extensive and expensive than direct exchanges, although it is entirely viable. If you want to convert Ripples to cash, you will need to find an intermediary who offers Ripple transactions to another crypto and then to cash.

Cryptocurrencies are the hottest commodity in the market. However, not all coins are equal. There is cryptocurrency worth mining, while there are coins made as part of a pyramid scheme. Therefore, the altcoin market caps varies widely. That is why it is worth differentiating the contenders from the pretenders. At the end of the day, the value of any cryptocurrency depends on the price assigned by its audience. Before you read the list of the top cryptocurrencies available, remember that coins, like any other asset, is an investment. Investment is subject to market changes, so there is no such thing a risk-free investment.

This crypto coins list was taken from data on the market ranks by CoinDesk and CryptoInsider. Furthermore, this data is accurate as of June 2017 and numbers are set in hundreds of dollars. Here is the top ten list of cryptocurrencies:

Monero is the currency for those seeking for privacy. The coin is known to use Ring signature technology and offers an incredible level of privacy. This altcoin market cap is $670,274,005.

Bitshares is more than a coin. It is a system built to be fast, and efficient enough to handle tens of thousand of transactions seamless. Moreover, BitShares is made to be fully autonomous regarding the funding of their workers. Bitshares market cap sits at $682,009,491.

IOTA is seen as the distributed ledger of the future. Created in 2014, IOTA coin looks to become the backbone of the “Internet of Things.” as explained on its site. The technology looks promising, and possess a market cap of $1,187,117,927.

Dash, which is short for Digital Cash, is a cryptocurrency with a strong focus on both privacy and speed using anonymization technology. Dash is known to be fast and efficient, with its digital currency value at $1,312,798,864.

NEM is a peer-to-peer cryptocurrency designed for the Asian market. The blockchain platform and currency launched on March 31, 2015. Currently, the NEM blockchain software is part of Mijin. The altcoin market cap is $1,511,307,000.

One of the two Ethereum, this version represents the group of people that disagree with the idea that majority rules when it comes to decisions that affect the blockchain. In effect, the classic represents part of what is left after the collapse of The DAO. The altcoin value is $1,763,813,764.

The first alternative to Bitcoin, Litecoin was launched in October 2011 by Charles Lee. It works closely the same as Bitcoin does, and has enjoyed a recent resurgent. The crypto value is $2,150,558,253.

Ripple is a real-time currency exchange and remittance network. The coin and system were released in 2012. The system enjoyed moderate success as few banks have adopted its system. It has a market cap $10,298,124,124 and is one of the best currencies to invest.

The biggest challenger to Bitcoin, Ethereum is the decentralised platform that can perform peer to peer contacts. Created by Vitalik Buterin, Ethereum has seen exponential growth recently. It is the best digital currency to mine besides Bitcoin. It currently has a market cap of $28,802,676,037.

Bitcoin was the best currency to invest in 2016 and it is the best one to buy in 2017 as well. Created by Satoshi Nakamoto, Bitcoin is the largest coin in the word. With a market cap of $42,078,985,578, it is still the currency worth mining.

A Cryptocoin is a currency with no physical entity

Cryptocurrencies are only a digital mean of payment. Their rate of emission and possibilities of use are based on mathematical patterns that are neither supported nor can be altered by any central entity, organism or group, need no intermediaries or financial institutions.

There are no coins or bills for these currencies

The most similar that has existed are metal medals and paper with the appearance of notes. One of the best-known cases is the bitcoins of Casascius, a company that emitted this type of products linked to a specific amount of this cryptocoin until 2013.

It is unknown who is behind the cryptocurrencies

Behind the Bitcoin is Satoshi Nakamoto, a pseudonym used by a person or group of people whose true identity is not yet known. The path of the first currency of its kind began in 1998 when Wei Dai first proposed the idea of ​​a new typology of money that used cryptography to control its creation and transactions, but that is as far as it is known.

The number of cryptocoins is potentially infinite

There may be as many cryptocoins as mathematical cryptography systems can be developed. However, its liquidity is finite, since in the architecture of these parameters it was established the maximum volume of these coins that may come into existence. In the case of Bitcoin, the limit of the numerical code is 21 million monetary units.

Holdings and operations with cryptocoins are not anonymous

Transactions with digital coins are never anonymous, although mechanisms may be used to ensure that the identity of the originators or recipients of a transaction is beyond all possible traceability.

There are two ways to get cryptocoins

There are two routes: mining and purchasing in virtual exchange offices. The first option was more popular in the early days, but now it has become more expensive and less productive. In the second case, the process is simple and usually requires paying a small rate.

The balances of the cryptocurrencies can not fade

The existence of the same is always fixed in the historical sequence of operations. Despite this, it is possible to steal the cryptocoins from a digital wallet. If a third party has access to the private code, all the money could be transferred to another wallet.

The current price of bitcoins changes every day.

Cost continues to be established based on supply and demand on the world’s major physical currencies. However, their use is not yet widespread, nor is their information on development and employment so widespread as to fix rates of change for their own activity or the evolution of the digital economy.

Cryptocurrencies have gone from being a threat to a business promise for banking

Initially, these cryptocoins not linked to the traditional financial system were a significant threat to the credit institutions. Nevertheless, the blockchain in which the development of the vast majority of cryptocoins is based is being investigated by big global entities to take the lead in the new trends of banking and digital commerce.

They are not the money of the future

Although cryptocurrency statistics point out that the protagonism of the cryptocoins will increase in the future, it is still a long way from being able to speak of these as the money of the future, according to several experts and financial institutes. This is because once each cryptocoin has reached the maximum number of units that can be produced, its value will unavoidably fall.