What is Ripple? CRYPTOCURRENCY EXPLAINED

What is Ripple? This is a question I asked until not to long ago.

Ripple is a centralized cryptocurrency. It uses cross border payment services to connect banks which lets them offer real time cross border payments to their customers.

Currently, cross border payments require many intermediaries(like other banks) to execute the transaction. This causes extra costs, risks and time which does not meet the requirements in today's modern demands.

Ripple allows banks to make cross border transactions in seconds, while providing visibility during the process. Settlement using Ripple takes 5-10 seconds.

Lets use an example,

Lets say that I live in the US and Bob lived in Europe.

If I wanted to send Bob $10 using Ripple, Ripple would take my $10, convert it into Ripple and then convert it into Euros and send it to Bob.

It's as easy as that!

Basically, Ripple connects payments and makes them much easier, faster and cheaper than they were before!

At the time of this post, Ripple is at $0.194503 per coin or Ripple or whatever. Do you buy Ripple or is it Ripple coin? Im not sure. Anyways,

You can see oversized market statistics below:

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Thanks for reading my post! I hope you've learned something! By no means am I an expert so if I messed up something be sure to let me know so I can change it. See you tomorrow for another crypto explanation! or more memes;)