The time is advancing towards a more secure and agile system, and in this Bitcoin Regulation, it is the digitalization of the currency system through a decentralized network. It is our responsibility to accept the changes and knows about it all. The cryptocurrency has spread enough through the Word of Mouth and its reputation, and one of its best inventions is the XRP currencies. Developed by the American tech-lab Ripple, XRP second-bested the crypto market after Bitcoin, and the investment has fairly helped each of its customers. But, it is crucial to know about the pros and cons for making the decision more credible and informed.
XRP is Cheap and Affordable
The XRP coins are more affordable than any other. Many people can invest in Ripple for a flexible cost structure, and here, the marketplace has expanded so formatively. For example, with even 50$ punts, one can have more than 65 XRP currencies. This is a phenomenal opportunity for all, and its mainstream appeal has grabbed a lot of attention in the market. Also, mostly the investors can have a big fat return in the end.
Partners, Mergers, and Investors
XRP has become such a popular asset from 2017 that they have gained a handful of partners and mergers. As the number of investors has increased, their business boomed with the partnerships. Ripple has gained trust from many institutions and valuable organizations for these four years. Their big-time journey started with Fidor, a German bank, through a partnership back in 2014. Their biggest partners include Santander, Moneygram, American Express, and these are just the tip of the iceberg.
Recovering from Past Blunders
Most Cryptos have one or two histories with the lawsuits in their business history, either by their fault or others, and XRP has also witnessed certain situations. But they have made a difference by their efforts to recover from it with the right tactics. We all know about the SEC issue where they framed XRP by saying they have illegally sold XRP worth 1.3 billion dollars. Although the case does not stand as a very firm one for the SEC, Ripple has made it one of the biggest priorities to wrap this whole thing up for further development.
Lower Transaction Costs
The transactional cost of XRP is minuscule when it comes to the comparison with others. They put it as a penny for their customers to transact from their Ripple accounts. People find this opportunity very easy-going for their investment plans, be it big or small.
No New XRP Coins
The problem with the Ripple XRP coins is that there will not be any more production of the tokens, and it is only limited to the number of 21 million. It can be a big backdrop for them, as Ethereum has its limitless token generation policy. Things can go haywire for the XRPs if the demands are pushed in the future. The coins are pre-mined. Thus, it cannot be changed or increased in number again.
The Misconception between Ripple and XRP
Ripple is the name of the Techlab which developed the XRP tokens. There are also Ripples, another cryptocurrency, but Ripple and XRP are not the same things. For these misconceptions, many try to avoid the XRPs to avoid any confusion later on. Also, Ripple owns a massive share of the XRP coins, which poses the possibility of making things complicated for XRP, and their prices can overinflate. Their obsession with releasing the coins only by a certain amount can make things even more complicated when the demand runs higher than this.
Not Proper Decentralization
Only the blockchain experts can say what is wrong with the XRPs. According to many, it is believed that XRPs are not real cryptocurrencies which, to some extent, is true. These currencies are designed to help the finance industry and banking system but cannot be utilized for item exchanges. Also, the XRPs are pre-mined, which is arguably put forward by many that it is against the principles of Decentralization. The revolutionary key elements are less here, and it can only help the value system more.
Even though Cryptocurrencies are very intricate, these facts demand to be acknowledged by the usual investors of the Cryptomarket or the rookies who intend to enter the investment arena soon. Thus, one must research the pros and cons of every coin they intend to invest in, during the Bitcoin Era. Although, we can say that if one is looking for a fast, cheap, and viable means for their financial system to work better, it is the best investment they can make.