Crypto Academy Week 9 - Homework Post for @yohan2on …

Hey Steemians,
In this post , I am here to submit my S2 Homework Task 1 which I have carried out as required by @yohan2on Crypto Professor.

Write about any one of the following Altcoins

• Litecoin (LTC)
• Ripple (XRP)
• Binance coin (BNB)

What is Altcoin?

Altcoin is made up of two words ; Alternative + Coin . Which means that apart from bitcoin, whatever genuine crypto currencies is there they are called altcoin. After the creation of bitcoin in 2009, many genuine Crypto Currency have been created on the same technology such as Litecoin , Ripple , Ethereum . There are more than 4000 crypto currency in the world called altcoin.

However , All crypto currencies are built on their own project, their algorithm is different. For example. XRP, Steem, Litecoin, Binance Coin, TRX, BCH and many more. They are used on the blockchain and allow P2P transactions. Altcoin is faster than Bitcoin. Altcoin has lower transaction fees. Bitcoin mining takes longer time but altcoin mining does not take much time.

What is Ripple ( XRP )?

Many people think that XRP is ripple or Ripple is XRP but it is not. XRP is a crypto currency and ripple is a platform or company that makes it. Ripple was created in 2012 by a US based company called Ripple labs Inc. Ripple is a open source platform.

The main motive of its creators was that they wanted to create a platform in which global financial transactions can be done easily and instantly. So They designed a platform that was cheap, fast and secure named Ripple. Its founder is Chris Larsen.

^{As in global financial transactions, transaction fees are also very high over time. So Ripple wants to overcome this problem by using blockchain technology.}

We can say, for example, that we have to transfer money from the bank of our country to the bank of another country, which takes at least 3-4 days and sometimes even a week. And in it, tax is also deducted as transaction cost from money we have transferred. So Ripple launched Ripplenet to solve this problem. And XRP also runs on the same platform.

^{Let's learn a little more about XRP}

XRP Price/Value

^{As on 14/04/2021, 8:14 | https://www.coingecko.com/en/coins/xrp}

Recently XRP was pumped to $1.80. It has increased by appx. 64% in the last seven days. And appx 24% has gone up in the last 24 hours. If it goes on like this, then it will break ATH soon. It is really a good Coin.

XRP Market Stats

^{https://www.coingecko.com/en/coins/xrp}

The above image shows the Market Stats of XRP such as All time high ($3.40) , All time low ($0.00268) , Rank (#4) , 24 hour low & 24 hour high , 7d low & 7d high , Trading vol , XRP Price etc.

XRP Performance

^{As on 14/04/2021, 8:15 | https://www.coingecko.com/en/coins/xrp}

The above image shows a 24-hour Chart of XRP. You can also check the chart of 7d, 14d, 30d and more. This Chart shows the market conditions of XRP. Recently It was pumped to $1.80. Apart from this, you can also check the chart in BTC / ETH. Below I am sharing the chart of 7d, 30d and 180d, you can see how XRP has touched unevenly in just a few days.

Market Cap./ 24h low , 24h High & Trading Vol.

^{As on 14/04/2021, 8:14 | https://www.coingecko.com/en/coins/xrp}

The above image shows 24h trading vol , 24h low / 24h high , circulating supply , wallet , contracts etc. of XRP. It has already increased a lot.

Where to buy XRP, how to buy and what is its process ?

I think buying XRP is not a difficult task. This is a simple task. If you are an exchange user, then you can easily buy XRP. It is available on many exchanges such as Binance, Huobi-pro etc. A great number of XRP are on binance. After purchasing it, we can spend it, hold it, send it, trade it. It is very simple, safe and fast.

The process of purchasing XRP is also very simple. All you have to do is create an account on the exchange, verify it and deposit the funds. After this, only you have to select Crypto Currency from which you want to buy XRP. Right now, XRP can be purchased through various Crypto Currency ; USDT, USDC, BTC, ETH, BNB and many more.

^{XRP Pairs | Binance App}

All you have to do is select any pair, I prefer USDT for myself, then buy when the price of XRP is low.

---

Why chose Ripple (XRP)?

XRP has been created to speed up transactions and save transaction costs. If we make payments by the bank like in the previous era, then over time, money will also be consumed. If we transfer $ 500 through bank to another country. So 4% to 12% then transaction fees will be deducted by the bank. So to avoid this situation we should use Ripple. The transaction time of XRP takes only 5 to 10 seconds. It is really fast. XRP is very easy to buy, trade, send. And it is also secure.

Thank You

Cc-
@steemitblog
@yohan2on