When I started my journey on cryptocurrencies and Bitcoin, I played with it and I tried to transfer to an exchange. My first transfer to an exchange is a $10 worth of bitcoin. I used that bitcoin to buy a Ripple at price of $0.30. So my first alt coin is ripple. I chose to play with it because it was cheap. Then I got curious about what ripple is.
What is ripple?
Ripple is even older than Bitcoin. It has many variations started since 2004. In fact even ethereum borrowed a technology from Ripple as per Vitalik Buterin. Venture capital backed Ripple labs is using blockchain technology to reinvent the banking ecosystem and allow traditional financial institutions to conduct their own business more efficiently. Ripple’s payment network lets banks all over the world transfer funds and foreign exchange transactions directly between themselves without a third-party intermediary. Ripple is also developing a smart contract platform and language, Codius. Another potential symbiosis between the traditional banking industry and Bitcoin is exemplified by Spanish bank Bankinter’s Innovation Foundation investment in Coinffeine, a Bitcoin technology startup that aims to make it possible for end uses to buy and sell Bitcoin directly without an exchange.
The other point I considered when I invested in Ripple was its use case is exclusive for enterprise. For which is the reason why a lot of people also considered Ripple in their portfolio though it is pre-mined. As you can see in the history of ripple, every time an international bank or institution considers it in their business, the price goes up. Imagine how big it will turn out if half of the world’s biggest organization acquires Ripple technology.
Recently Japanese and South Korean banks implements cross-border money transfers which causes the Ripple’s price to rise up to $0.89 cents. Many investors are looking at $1 – $9 price.