How to trade Ripple
Ripple (XRP) is a blockchain network that not only does not yield to traditional payment systems, but even excels them in terms of the speed of transactions. Ripple brings the speed and security of blockchain to the payment industry.
What is Ripple?
Ripple is a commercial technology platform with its own cryptocurrency (XRP), developed by Ripple Labs. The company specializes in providing real-time payment settlements and currency exchange services to financial institutions, such as banks and payment systems. The main task of Ripple is to provide a free exchange of assets between users with almost instant transactions and minimal fees. The network allows transactions with any currencies and assets. This gives the project a huge potential for development. There is no mining as such in the Ripple network. All tokens have already been issued in the amount of 100 billion. However, less than half of the coins are in circulation, and the company keeps most of them on its account, gradually releasing them for sale. In the Ripple network, the fee is fixed and is only 0.00001 XRP, although this amount can hardly even be called a fee. The fee is set only to avoid overloading the network with unnecessary transactions. Fees do not become someone’s income, but burn up, due to which the total amount of funds in circulation is constantly decreasing.
The coin has quite a lot of advantages, but the main are the following:
- The Ripple cryptocurrency has the highest transaction speed. Currently, there is not a single system or other currency above it that could even compare with Ripple.
- The transaction fee is minimal if you compare the transaction fee with other cryptocurrencies.
- Inside the system, you can exchange not only currencies, but also values.
- Transactions are reversible. You can easily edit it or cancel it at all.
Why should I trade Ripple?
The prospects of Ripple technology are not in doubt. XRP cryptocurrency is interesting for individuals, the banking sector, and large companies. Thanks to constant innovations, XRP looks attractive to investors from all over the world. In addition, XRP is among the top 10 cryptocurrencies by market capitalization, which is $29,705,229,917. The price per one XRP coin is approximately $0.6 as of July 3, 2021. The record low was set in July 2014 ($0.002), but since May 2017, Ripple quotes have not fallen below $0.1. On January 4, 2018, the all time high was reached and it was $3.84. The cryptocurrency exchange rate is volatile, but with an upward trend. More and more banks are showing loyalty to Ripple Labs. Ripple prospects for today are such that the digital coin can increase in price to $1.12 by the end of 2022, according to Digitalcoin.
Where to trade Ripple?
In order to trade XRP, it is necessary to carefully plan a trading strategy in order to minimize the risk of losses. It will be useful for everyone to study the price chart of the exchange rate for the entire history of the project. You can do this using special services like CoinMarketCap or TradingView. You can also track price changes and the current price of an asset using the 7b crypto broker app. XRP cryptocurrency has passed the listing procedure on many well-known crypto exchangers, such as: Binance, Hoo, OKEx, and others.
How to trade Ripple using the 7b crypto broker app?
If you have decided to trade XRP through the 7b crypto broker app, congratulations, you have made the best choice. 7b provides its users with a safe and profitable trading experience. All you need to do to sell or buy XRP is to follow the steps below:
- Log in to your 7b account or create one if you are visiting us for the first time.
- Deposit of funds.
- Select cryptocurrencies to exchange and place a market order.
- Get the desired cryptocurrency to your account.
Is Ripple a good investment?
XRP cryptocurrency can be considered as an object for investment for a long period. Considering the prospects of the project, the price of Ripple will increase every year, which will inevitably lead investors to increase their capital. Already today, XRP is among the top 10 leading cryptocurrencies by market capitalization.
How do I invest in XRP?
Track the exchange rate of the XRP cryptocurrency using the 7b crypto broker app and choose the right time for investment. To purchase: top up your balance, select the cryptocurrency that you want to exchange for XRP, place a market order, and get your brand-new coins to your account.
How to trade Ripple for beginners?
For reliability, you can invest money in different cryptocurrencies to save funds in case of sharp volatility of the coin. The 7b platform is the best suited for beginners, just log in to your account, select a trading pair, send the desired amount, and now you are already the proud owner of any cryptocurrency that you wish.
How to buy Ripple cryptocurrency?
To purchase on 7b, you must meet the following conditions: the presence of a verified account and funds on it. Next, all you need to buy XRP is to choose a cryptocurrency for exchange, enter the desired amount, and confirm the transaction.
What is Ripple Blockchain?
Ripple (XRP) is a peer-to-peer system with a differentiated registry, created for the active exchange of digitized assets. A revolutionary project that intends to take payment systems to a new level, through blockchain technology.
Original source — https://sevenb.io/blog/how-to-trade-ripple/