Steemit Crypto Academy | Season 2: Altcoins – Part1 "Looking beyond the Bitcoin" | Homework task for @yohan2on
Hello All Steemians !!!
On this occasion, I will try to take a class at Steemit Crypto Academy. I am interested in joining this class because there are many new lessons that I will get here. I will do homework task from professor @yohan2on. Lesson discussion about Altcoins – Part1 "Looking beyond the Bitcoin". Lets try...
Since the continued development of cryptocurrency, which is a new thing in the financial world where people can transact via digital, companies have started to get involved in the world of crypto by issuing digital coins such as Altcoins. Altcoins is believed to be able to provide innovations and new advantages in cryptocurrency that are continuously recognized by all people in the world.
Altcoins are issued with a variety of coins that have their own features and advantages. The company published Altcoins has fixed and perfected the things that Bitcoin lacks, which is known as the first crypto. It is hoped the presence of these kinds of coins can foster a sense of interest from investors and traders in the crypto world to start investing and developing these Altcoins.
The presence of Ripple (XRP) as a type of Altcoins has its own purpose to make transactions easier in the cryptocurrency world. Ripple (XRP) aims to provide a more efficient trading platform for cross-border payments, transfer systems and exchanges in the financial industry. Eliminating middlemen will reduce costs and transaction times. This is what makes Ripple (XRP) safe and fast worldwide at a low cost.
Ripple (XRP) was not designed to be mined like many the other coins in the crypto market but was specific to the payment system. The owner of this coin has full control over this coin without any party if we have bought and invested. This coin is open and can be owned by anyone who wants to invest and trade this coin. There are no restrictions or special conditions for owning this coin. This is what makes this coin successful or unsuccessful, because this is determined directly by the users of this coin.
Ripple (XRP) was created with a good idea and is devoted to be the best payment settlement in the financial industry. Payment transactions globally often occur in the world and this is where the role of Ripple (XRP) is very visible and needed by many investors or entrepreneurs. This is evidenced by the direct asset transfer system that makes it easier for investors or entrepreneurs to run a business. Ripple (XRP) offers a cheap, transparent and safe alternative to conventional payment systems that use fiat currency as a payment exchange. This will facilitate and benefit users with all the advantages that Ripple (XRP) has as a cryptocurrency.
Currently Ripple (XRP) is the fourth largest coin and is ranked 4th on the list in the crypto market. This proves that Ripple (XRP) has a large number of users due to its excellence in payment settlement systems. With a stable price, which is around above 1 USD, this coin is very suitable for its function in completing payments via digital. This coin is an Altcoins that can compete with other strong coins.
Ripple (XRP) price tends to be stable over time based on the XRP Chart. There were only two very significant price increases in 2018 and now in 2021. However, in 2018 the increase was only brief because it fell again and was stable. In 2021 due to the increase in the price of Bitcoin it will impact all cryptocurrencies so the price of XRP has increased too.
Thank you for the time and opportunity to develop the knowledge I have. Hopefully it will be useful for all readers.
CC :
@yohan20n
@steemcurator02
Hi @kavinsky7
Thanks for your participation in the Steemit Crypto Academy
Feedback
Fairly done! Kind put more effort into your work.
Homework task
6
Thank you prof!!!