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What is Ripple?

What is Ripple?

Ripple

XRP

What is Ripple (XRP)?

Ripple. What can we say about this controversial cryptocurrency? It certainly sent “ripples” throughout the crypto community due to its legal case with the Securities and Exchange Commission (SEC) but even so, it still has plenty of loyal followers. In its most basic form, Ripple is a currency transfer network that was built for the traditional financial services industry. XRP is the native cryptocurrency of the network that users need to buy to pay fees--thus giving it a solid use case. 

Ripple’s goal is to be the trusted middleman between two parties that want to execute a transaction quickly, cheaply, and easily. If this sounds familiar, it should. In the traditional finance system, the leading money transfer network that facilitates transactions is SWIFT. Ripple aims to be the blockchain equivalent of the SWIFT network and become the world’s top settlement layer solution for major financial institutions. 

While the team behind Ripple often claims it operates in a decentralized manner, that is not fully the case. The Ripple Network consists of thirty-five trusted validators that users can choose to verify their transactions. However, Ripple decides which validators ultimately make the list showing that there is certainly an aspect of centralized control over the network. That being said, this management does allow the network to run more efficiently and quickly. The average XRP transaction typically takes around four to five seconds at a much lower price than Bitcoin or Ethereum. 

What is the Ripple price?

YouHodler aggregates prices from top centralized exchanges to provide an accurate Ripple price and charts. 

Where to buy Ripple?

The easiest way to buy Ripple is to purchase it through a crypto app like YouHodler. Our universal cryptocurrency exchange service lets you convert any crypto, fiat, or stablecoin with competitive fees.

How to earn interest on Ripple?

The best way to earn interest on Ripple is by depositing it in a YouHodler savings account. Interest payments occur weekly and YouHodler features compounding interest. 

How to take a loan with Ripple?

You can get a loan with Ripple in stablecoins by depositing your Ripple as collateral. YouHodler offers the best rates you can get anywhere. Don’t sell your crypto. Use it as collateral and keep its value for later. 

How to trade Ripple?

Leverage market volatility to stack your crypto portfolio and trade Ripple with Multi HODL. Multi HODL is a user-friendly tool to take advantage of market swings in either direction. Become an “active HODLer” today.

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