Investing can be a risky activity, but if you know what you’re doing, you might profit quite a bit. Today, there are hundreds of thousands of things you could invest in, and some of the more popular of these things are cryptocurrencies. In this guide, however, I’d like to talk about one specific crypto coin - Ripple, and how to invest in Ripple.
Ripple stands out of the other cryptocurrencies for a couple of reasons, which we’ll briefly go over. After all, it would be wise to get an idea of what exactly it is that you’re investing in.
After that, I’m going to tell you everything you need to know about buying Ripple - how, where, why, etc.
At the end of this guide, you should be able to not only know how to invest in Ripple & where to buy it, but all of the other intricacies involved with this cryptocurrency.
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Table of Contents
Describing Ripple
A little-known fun fact - Ripple is the name of the company that created and developed (still does) the crypto-coin, not the coin itself. The coin is called XRP, but everybody just got used to calling it Ripple. For simplicity's sake, I’ll be doing the same thing in this guide as well.
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Ripple is a cryptocurrency that is very similar to Bitcoin and Litecoin when it comes to its structure and technical data. It does, however, posses the nickname of “Bitcoin killer”. Why is that?
Well, first of all, Ripple is faster and aims to perform better transactions than Bitcoin, while maintaining the same (or even higher!) level of security. The “Bitcoin killer” tag originated from speculations that Ripple will eventually overthrow Bitcoin and take the first place in the realm of the cryptocurrency market presence.
While remaining nothing more than speculations for a long period, Ripple did manage to climb to second place in the market at a certain point in time. It didn’t manage to hold it, though - as of writing this, Ripple is currently comfortably sitting in the third place in the market.
Another thing that makes Ripple unique is that it’s quite different from most of the other popular cryptocurrencies out there. Ripple was created by a private company to profit from it (as opposed to other open-source cryptos). This fact alone harbors many speculations about the future of the coins and its price.
How to Invest in Ripple?
Now that you have an idea of what Ripple is about, let’s transition to the investment part.
Why invest in Ripple?
When we take a look at the chart below, we can see the whole history of the coin in question.
Ripple has had an interesting journey when it comes to the fluctuations in its price.
The crypto coin started at a very low price, as do most of the other cryptocurrencies out there. It didn’t offer any surprises for the longest period, and its sudden price explosion came in line with the rise of almost all of the other crypto prices.
At its peak time, Ripple had almost reached a value of $4 per coin. This was huge when compared to its price just half a year ago. At the end of 2017, though, when the cryptocurrency market experienced a devastating crash, so did Ripple - it dropped down in price. It's currently worth $0,3 per coin.
Even after such a crash, the coin is still fully functional and alive. Moreover, it has started rising in price! Naturally, the process is minuscule, but it might mean a new beginning for Ripple.
With the coin slowly trying to climb up, now would probably be the best time to invest in it, if that’s what you’re looking to do.
Method #1 - Buying
So how to invest in Ripple? Simply buy it.
No, I’m not kidding.
It seems almost obvious, but people often forget that the simplest way how to invest in Ripple is to just buy it. Let’s say, you buy 100 XRP - at the time of writing this guide, you would pay somewhere around $30. Then you simply… wait.
If you have a lot of time on your hands and are not rushing anywhere, then buying Ripple and just “forgetting” about it is the best way to go about it. Sure, this is a long-term investment, but it may bring huge profits your way.
Imagine that in five years, Ripple would be worth $8 per coin. This isn’t impossible, and some speculations suggest that the coin will be worth much more.
In this scenario, if you’d invest $30 today, you could get back more than $2600 in five years without doing nothing!
It is a risky way to invest, for no one knows for certain just how much Ripple will be worth in the future, but it’s the easiest one, too. Although, when it comes to Ripple, it’s a bit more complicated than with most other popular cryptocurrencies.
Ripple can be purchased using fiat currencies, including USD and EUR. You can also buy a specific amount of some other cryptocurrency (preferably Bitcoin) and THEN, with Bitcoin, buy the amount of Ripple that you want. It’s a tad bit more complicated than to simply buy cryptocurrency with, for example, USD, but it’s not mind-bending.
Where to buy Ripple, though?
coinbase.com is considered to be one of the best places to purchase Ripple. It's located in San Francisco, California. On Coinbase, you can purchase not only Ripple but also multiple other coins, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and so on.
By popular opinion, Coinbase should be your go-to choice if you’re thinking about where to buy Ripple.
Method #2 - Startups, Companies, etc.
This is a lesser-known (or at least a less used) method of how to invest in Ripple.
Over recent years, there have been a lot of new startup projects emerging from the cryptocurrency scene. As time goes on, more and more individuals take an interest in the crypto world, which sparks some new, creative and unique ideas to arise.
These ideas often manifest themselves in the form of brand new companies seeking to revolutionize or in some other way impact the crypto scene.
Although not as popular as simply buying Ripple, investing in companies and startups related to crypto is a great way to increase your potential revenue.
With Ripple, it’s a bit tricky, though. As I’ve mentioned earlier, Ripple is a centralized currency - the creators own and dictate the rules of the game. Currently, there are 100 billion XRP in the market, and the way that this works is that once you use an amount of XRP in a transaction or in any other way, it disappears.
That means that the amount of XRP that is in existence is getting lower by the minute, thus increasing the value of the remaining Ripple.
Furthermore, this means that no one can, for example, mine Ripple. Same goes with any other third party tampering - it’s simply not possible.
What you want to do in this type of situation is to simply invest in a startup that you think has the potential to one day become big and profitable. Crypto startups are very idea-driven: while some ideas tend to be too far-fetched, others go on to be very auspicious and successful. It might be tough at first, but with enough research and good deduction skills, you could come up with at least a few decent contenders.
If the startup reveals itself to be profitable and you’ve made your fair share of profits, simply buy Ripple. Honestly, this being one of the only few methods out there to invest in this cryptocurrency, it’s the best bet you have.
Acquiring and keeping a stack of these coins could turn out to be very profitable in the long-term plan. But it would also be wise to never stop looking for the next best thing - as I’ve said, many new startups are emerging every single day. You never know what could be around the corner.
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Before Investing - The Future
You now know how to invest in Ripple… But should you?
With cryptocurrencies being as volatile as they are, it’s becoming increasingly difficult to predict their prices with certainty. Some cryptos do follow the expected price trends, but more often than not we see chaos.
Ripple isn’t an exception in this rule. It is owned by one single company that does eliminate some of the possible speculative in corrections, but it’s still very hard to talk about its future without hesitation.
According to the plan, Ripple SHOULD rise in price as time goes on. People inherently value scarce and exclusive things, and this should be the main factor that will influence Ripple’s growth in price.
However, while Ripple is indeed quite special (when it comes to cryptocurrencies and their structure), it is important to keep in mind that it isn’t isolated in some sort of a bubble - it has its place in the crypto market, where there's very little that the creators can do to influence the coin’s price or distribution.
Ripple is, however, constantly making it into the crypto news for a lot of positive reasons. The cryptocurrencies rejuvenation and journey back to life got a lot of crypto enthusiasts excited and hyped up. This should, in turn, spark up a new wave of Ripple activity, which is expected to happen.
A lot of websites, blogs, and news articles think that this is the turning point for Ripple - that its price is going to rise from this point onwards. Someone who is thinking about how to invest in Ripple should keep this in mind.
Summary
Let’s just quickly recap some things that we went over in this guide.
Ripple is a centralized cryptocurrency, similar to Bitcoin and Litecoin in structure. It was created by a private company, which hopes to make a profit from this coin.
The best features of Ripple are that it's fast (faster than Bitcoin) and safe, performs transactions easily and has a pretty vast market presence.
The fact that it’s centralized prevents Ripple from being mined or obtained in any other way rather than being bought or traded. This often poses as an issue for people who are looking for ways how to invest in Ripple.
On the other hand, it makes the process clearer and more streamlined. You don’t have a choice, and the fact that it can be obtained almost exclusively by buying or trading lets you focus your research points into a more condensed manner.
If you’re thinking about investing in Ripple, check out the various forums and online groups that specialize in researching and talking about all things Ripple. Also, look for expert opinions on the matter, analyze the statistical trends, etc.
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Conclusion
Ripple is one of the more interesting cryptocurrencies, for its unique features and traits make it more of a challenge for potential investors and crypto enthusiasts alike.
There is a widespread opinion in the cryptocurrency community that if crypto is useful, then no matter what hardships it’ll have to face - it will still come on top and survive. Seeing as Ripple has notable and clear advantages that can be applied in the real world, it would make sense to think that it should keep on growing and developing.
One last thing on speculations, though. You should always keep in mind that speculations are exactly that - speculations. No one knows for certain whether Ripple (or any other cryptocurrency for that matter) will skyrocket in price or crash without a chance to get back up. If someone tells you that they know… Well, they’re huge liars.
Always take speculations, guesses, and opinions with a grain of salt. Do your research, form an educated and informed opinion and manage your finances - never invest more than you’re willing to lose. Also, choose a reliable platform to purchase Ripple. The most recommended options include Binance, Coinbase, KuCoin and Kraken.
I hope that this guide helped you become more informed on the topic of Ripple and the different ways of how to invest in Ripple. If you do decide on investing - good luck!
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
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