James RobertAccording to technology experts across industries, Ripple, or XRP, is the world’s most valuable and scalable digital asset.
Banks can use XRP to settle international payments in real-time, with end-to-end transparency, and at lower costs than existing systems.
Payment providers can also use XRP to expand reach into new markets, provide faster payment settlement times, lower foreign exchange costs for their customers, and provide liquidity for cross-border transactions.
Digital asset exchanges can also buy XRP to provide faster, more efficient cross-border payments that alleviate liquidity shortages while reducing transaction fees.
You Can Send Money Anywhere in the World Instantly
One of XRP’s biggest selling points-its most touted feature-is its speed. It’s no surprise that banks and financial institutions are going crazy about it.
According to Ripple, users of their cryptocurrency can send funds anywhere in the world in less than four seconds.
Banks don’t want to wait for days for payments to clear; they need them processed instantly in order to meet liquidity goals and keep up with rising customer expectations.
Rather than waiting four days on average like traditional payment methods require, banks can make international transfers via Ripple within just a few seconds while still meeting regulatory compliance requirements.
This makes them far more efficient, agile and profitable than ever before while also improving customer service satisfaction ratings on cross-border transactions.
Ripple Is Built For Scale
Ripple has one key advantage over all other cryptocurrencies: scalability. Today, all cryptocurrencies have a fundamental limit in how many transactions they can process every second, limiting their usefulness.
For example, Bitcoin processes about four transactions per second on average, and Ethereum can process about 15 (when miners do not bog it down).
In contrast, Ripple can currently handle 1,500 transactions per second-and theoretically up to 50,000 transactions per second.
Low Fees
When evaluating cryptocurrencies to purchase, it’s vital to look at transaction fees. In order for a currency to be used on a global scale, it must have a low cost transfer.
Several cryptocurrencies have much lower fees than others, and Ripple has very competitive low-cost transaction fees. As such, XRP will be quite useful for international transfers compared to many other currencies.
Decentralized Blockchain Technology
The biggest problem with today’s currencies is that payments take too long to process. From when you swipe your card or enter your passcode, it could take 2-5 business days for a transaction to complete (8 billion+ people in 200 countries who send $200 trillion+).
Decentralized blockchain technology changes all of that.
Payments are processed instantly without having to wait 3+ days, and now anyone can send money in any currency (fiat, cryptocurrencies, or digital assets) anywhere in the world at any time, a concept known as the internet of value which means you will be able to pay online and offline using just one form of payment.
High Liquidity and Volume
Ripple (XRP) can be traded on many popular exchanges worldwide, and its liquidity ensures that you’ll always be able to sell it for cash or trade it for other cryptocurrencies.
Bitcoin and Ethereum, by comparison, are much more illiquid investments-there just aren’t many places to turn them into real money.
Even if you find a buyer who wants your holdings in exchange for cash today, the chances are good that they’ll ask you to wait until their transfer has arrived before handing over your new funds.
This can seriously slow down any attempt at price appreciation-especially if these transfers take a few days.
With Ripple, though, you can rest assured knowing that even if there isn’t an immediate buyer for your coins, you’ll still have plenty of options available to convert them into fiat currency whenever you need.
If a small change in market conditions makes one currency worth significantly more than another, there will almost certainly be someone willing to make an offer on your holdings.
That means big changes don’t have to leave big ripples in your portfolio-you’ll never have to worry about getting stuck with coins whose value drops overnight.
In fact, there’s no better way to ensure a steady stream of profits than investing in high-liquidity currencies like XRP.
Richard Wilson