Challenge #1: XRP (Ripple) My Favorite Cryptocurrency

Hello Friends , It's @besticofinder here.. I was doing lot of ico reviews and crypto reviews from the day I joined the steemit platform. So after 3 years of joining this cryptocurrency industry for the first time I'm going to tell you about my favorite cryptocurrency , thanks to @steemitblog. I entered this field with zero capital and earned some crypto through bounty programs and XRP was my first choice to hold then and now. I trust this always .. I got many reasons for that ..

👉 What is XRP and Ripple ? different or same ?

XRP can be considered as the digital asset of Ripple network. So technically Ripple means the company behind this network and XRP is an independent asset actually. The following infographic will provide you a clear idea about XRP and Ripple.

👉 History of XRP ( Ripple )

XRP is really old than we think.. It started the journey as Ripplepay in the year of 2004. The Ripple we currently use is a version released later actually.. in the year of 2012. From 2012 lot of financial institutes started using XRP for their transactions .. Japan was the leading country to use it. There were lot of modifications and updates and the platform never stopped the development and currently it hold's the third place in the crypto world considering the market cap.

👉 What is XRP (Ripple) and why I love it ?

Ripple (XRP) is an digital currency and very similar to other major crypto currencies in block-chain industry from various aspects. But it’s an open source and an open payment network. The feature I love in XRP blockchain is it enables instant and low fee international money transfers. I see the targeted market of this platform as banks, financial companies and mega businesses who involved in large international money transfers. Let me simply explain the XRP with this simple example.
Think I need to transfer 10000 USD from Sri Lanka to a my friend in USA. With XRP I can do it within few seconds for a fee of few cents. But what will happen if I use SWIFT banking system ? It will cost me high and it will take few days too.
So isn't that a fair reason for a person or company to use XRP ?
okey yes .. we can do this with the help other crypto blockchain's too.. why XRP ? okey .. let's go further I will explain...

👉 Benefits of XRP (Ripple) platform

✥ All the XRP transactions are P2P ( peer to peer ). So there is no central point where the transactions can fail.
✥ XRP transaction fees are very low.. very very low compared to others. Less than cents actually.
✥ Transaction time is really fast .. it takes only few seconds ( 4 - 5 seconds most of the time)
✥ Already partnered with lot of major banks .. so the concept is initiated well. The platform is stable ( My point of view )
✥ Each transaction is added to a ledger which is public. So there is a very good transparency and extra security for the transactions.

So from the above features of XRP platform, now we can very clearly understand what are the problems which XRP has identified and giving solutions. There are 3 main issues which XRP have provided solutions. First one is failures in payments of transactions. Second one is high operational costs and the third one is slow transaction settlement speed. The concept behind XRP blockchain provides answers for all these 3 issues really well. And there are some other cases where we use XRP.. I will mention them too for the completeness of this article. Ripple is currently used in online voting systems , P2P services , Forex , online payments etc.

👉 What is the best place to trade XRP ?

When talking about cryptocurrency exchanges I normally use Binance to trade XRP. But XRP is traded in almost all the top cryptocurrency exchanges in the world.

But I must say I do not trade regularly for profit. Simply I'm not a trader. But I hold the cryptocurrencies. XRP was my first choice as I was studying about it for a long time.

In Binance trading platform you can do almost every thing with Ripple. You can trade XRP , you can hold or store XRP , you can do XRP transactions for banks , wallets or exchanges etc , you can spend XRP to buy goods or services , you can donate XRP for charity etc.

👉 Top XRP price predictions in 2020 ?