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One of the most practical cryptocurrencies

Banking Investment / January 17, 2018

What is cryptocurrency “Ripple”?

Ripple price to USD for today is $1.2722. It has a current circulating supply of 38.7 Billion coins and a total volume exchanged of $3,010,060,000. Speed confirmation of transaction in Ripple is much higher than any known payment system. You can change any currency for another currency with a minimum Commission. The list of banks connected to Ripple and payment systems is impressive. More than 100 organizations conduct financial transactions with XR. Ripple is a practical cryptocurrency.

The very essence of the emergence of new crypto-currencies involves solving new problems by means of blockchain technology. It means if you create a new cryptocurrency, then it should be able to do something that has not been in the world of cryptocurrency. Most newly minted cryptocurrency is a "fork" of bitcoin. They are not drastic changes and new assignments for users and this means great value. Ripple is the replacement of the international banking SWIFT transfers.

Many of you received money from another country and know that the funds arrive in your Bank after 6-12 hours or even several days. But if the translation is made on Friday, you won’t get your money on Monday. So Ripple is specially designed cryptocurrency to solve the problems of transfers across the world.

Today, there are over 1000 cryptocurrencies. The value of most “coins” is highly questionable and most of the new "coin" will live less than a year and replaced by another amount of new cryptocoins.

Its code is written from scratch and is designed to solve problems of international transactions and make them cheaper, faster, and more reliable. Banks and users have their own benefit, using this cryptocurrency. No wonder that the