10 things about Bitcoin's new rival Ripple

Best-performing cryptocurrency with 38-fold hike in 2017

  1. Year 2017 was dominated by the rise of cryptocurrencies and the craze for Bitcoins, litecoin and ethereum only seem to be growing.
  2. But when it comes to the best performing cryptocurrency of the year, XRP by fintech company Ripple was easily the best option, witnessing a 37,000 per cent gain from $0.0065 per token in January 2017 to $2.47 by the end of the year.
  3. Meaning that Ripple has seen an annual rise of over 36,000 per cent!
  4. Ripple markets itself as a cross-border payments solution for large financial institutions based on blockchain technology.
  5. According to reports, Ripple’s technology allows transfers to be processed much faster than bitcoin’s.
  6. Unlike Bitcoin, Ripple isn’t created, or “mined,” by users, but the company has control. This makes it a more secure payment system than its rivals.
  7. Ripple has also formed key partnerships with established financial players including American Express and UBS.
  8. Early today, the digital coin reached an all time high of $2.51, according to data from CryptoCompare.
  9. Moreover, the digital currency is much more affordable than Bitcoin (about $15,000) or Ethereum (about $890).
  10. Ripple’s growth came after reports its payments system was being tested with a host of global banks, with Japanese and Korean credit card companies confirming they would pilot the technology.

 

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