Hold on a second while I take you back to 2011 because without knowing where Ripple came from, you won’t understand why we hold it or even why we buy it. The XRP Ledger (XRPL) was created in 2011 by three engineers: David Schwartz, Jed McCaleb, and Arthur Britto. Fascinated by Bitcoin, they set out to create a better version that improved on Bitcoin’s limitations, one of which is the waste in inherent mining, which is bad for the environment and has a massive carbon footprint, with the goal of creating a digital asset that would become more sustainable and built specifically for payments. XRPL launched its native currency, XRP, in 2012. You can also trade bitcoin with it.
XRP is the native cryptocurrency for Ripple Labs’ products. Its products are used in systems for payment settlement, asset exchange, and remittance. Ripple has chosen a different path from average exchanges to cater to the needs of the financial services industry, and so it has a utility. I admire a global leader who sees a less travelled path and wants to take it and make it more desirable.
How to Buy Ripple
In the United States, there aren’t many places to buy and sell Ripple. As a result of the SEC’s lawsuit against ripple, XRP has been delisted from several major exchanges. Fortunately, Coinmama, KuCoin, and Uphold are still some of the few places where you can buy Ripple.
XRP, like most cryptocurrencies, does not require the purchase of a whole unit. You can buy fractions of a single XRP, with the smallest unit being 0.000001, which is currently trading for less than a dollar. As a result, 1 XRP is equivalent to a million drops. Based on this information, you can figure out how many ripples you want to buy.
To buy Ripples, signup on an exchange that offers Ripple (XRP). You will need to enter your name and email address to complete the signup process. Using Uphold, you would need to enter your email address and a password, and also your citizenship and agree to their terms of service and privacy policy. You would then need to provide your full legal name and your date of birth as personal information. You would need to enter your phone number and verify it thereafter and do the same for your email address. The sign up process is completed and your account will be automatically set up.
You can fund your account using your debit card, credit card, bank account, or external crypto wallet.
How to Sell Ripple
The goal of purchasing a tradable asset is to profit. It’s just as important to know when to buy an asset as it is to know when to sell it unless you want to lose money. Trading charts are frequently provided to assist you in analysing past and current price movements on various time frames; take advantage of them. Close trades once you’ve decided to sell for a specific price and at a specific time. This entails converting all or a portion of your XRP to USDT, after which you can proceed to your withdrawal page and make a withdrawal.
Another way to sell ripple is to find someone who wants to buy it and send the ripple to their address, after which the person will deposit fiat into your bank account.
Note, however, that the SEC has filed a lawsuit against Ripple, which was filed in December 2020, accusing Ripple of selling $1.3 billion worth of unregistered securities. The unregistered securities in question are Ripples (XRP), a digital currency. Ripple has defended itself by claiming that XRP is a cryptocurrency rather than a security, and the case has been dragging on for quite some time. What impact does this case have on potential buyers? If the case goes in Ripples’ favour, which it almost certainly will, the price of Ripples will skyrocket following its planned IPO.
What are the chances that the case will go in Ripples’ favour? According to Roslyn Layton, Senior Contributor for Forbes, the SEC is now on trial in the Ripple case, and they are aware of it. The story follows the Magistrate Judge hearing in the US District Court for the Southern District of New York, which exposed the SEC’s unfounded and flawed arguments, as well as some inconvenient truths for former SEC Chair, Jay Clayton. Should I continue to invest in Ripple? Yes, buy and wait; now is the best time to buy.
