What is Ripple?
Ripple is one of the oldest cryptocurrencies that is still in existence, being launched all the way back in 2012, making it a dinosaur in the cryptocurrency world. Ripple was created by the Ripple Company who saw new possibilities in what the cryptocurrency industry and especially the blockchain could do for the financial and data industries.
Ripple works as a real-time gross settlement system, remittance network as well as currency exchange, which is why it is also known as Ripple Transaction Protocol. Ripples purpose upon release was to offer a worldwide secure, cheap and almost instant financial transaction, where there would be no fraud, no chargebacks or similar.
The way it does so is by supporting digital tokens which can represent a value in a fiat currency of your choice, commodities or even real estate. It can actually be used for any unit of value that you are familiar with, so only the sky is the limit for Ripple in terms of financial transactions, which is also a major reason why it has become so popular and got massive partners such as Santander Bank, UBS, American Express and Crédit Agricole.
The banks and other financial institutes uses Ripples services as a settlement infrastructure technology, due to it being fast, safe and most importantly cheap. But not only banks uses it services, it is being used by hundreds of thousands of people around the globe as a safe, secure and cheap way to transfer funds or other values between parties.
Ripple is currently the third most valuable cryptocurrency in the world, based on market capitalization. While each Ripple (XRP) is not worth anywhere near its competition, sitting at $0.95 in value, it has so many XRP in circulation that it still has a market cap of $36.500.000.000. There is currently 39.000.000 coins in circulation, making it one of the cryptocurrencies with most coins available, while the total supply of XRP is currently 99.992.000.000 out of a max supply of 100.000.000.000.
What Can I Use It For?
Unlike other cryptocurrencies, which are primarily made either to transfer funds directly between parties, to pay for services or goods with or even made just to gamble or trade, Ripple has been made to reward those who help support the massive network that Ripple uses to facilitate payment protocols for companies and as a token of value between parties.
That being said, you can of course use Ripple for all of the above if you have enough XRP to send a direct value of coins to another person. It can also be used to trade with, gamble with and even be used to pay with in some businesses. But Ripples primary usage is to work as a ledger of trust between two parties looking to exchange a unit of value between each other and it will continue to be used for this. You can read more about Ripples purpose here.
If you are looking to get your hands on some Ripple in order to make a long-investment in hopes of the value going up or if you are looking to simply do some day trading, you need to make sure that you are going to a site that is safe, secure and financially stable to handle your transactions. There are many sites out there offering these services, but not all sites are a good place to do financial transactions so be aware.
We have looked through the market and found some sites that we currently use ourselves to trade on as well as purchase cryptocurrencies, which we can recommend if you are looking for a place to do either of the above. Below you can read a little more about some of the sites we recommend and we also have in-depth articles about the sites we recommend, where you can get some more information.
Bitstamp: Bitstamp is one of the oldest and most trusted online cryptocurrency exchange sites, where you can purchase Ripple among other cryptocurrencies. The company has had its ups and downs but has always bounced back and made sure that customer funds are safe. Here you can begin your Ripple adventure and get in on the future.
BitMEX: BitMEX is one of the biggest trading sites in the cryptocurrency industry, offering trading of many popular cryptocurrency pairs, including Bitcoin against Ripple. Here you trade on if the value of Ripple will go up or down in comparison to Bitcoin and they have a wide variety of ways to trade, along with tons of trading tools to make your trading easier. You can read more about Bitmex here.
Binance: Binance is currently the biggest online trading platform for cryptocurrencies, supporting trading of more than 50 cryptocurrencies including Ripple. Here you can trade Ripple against many different cryptocurrencies, so you can choose a pair that you think you can make money on trading. You can read more about Binance here.
Playing with Ripple
While Ripple is not a cryptocurrency that was designed for it to be used to play online games with, there are a few places out there that accepts the cryptocurrency. It is expected that more sites will begin to accept Ripple in the future, due to it having such a big market cap, but for now you will have to settle on just a few select sites if you want to play casino games.
We currently offer you the possibility to play with your Ripple in LuckyGames, who accepts not only Ripple but also 40+ other cryptocurrencies and offers easy deposits and fast cash outs, which is important when you decide to play on a site. The site offers a handful of games including the most popular Dice game along with Roulette. You can also try one of their other games, which you can read more about here.