Technology

Bitcoin vs XRP Ripple: What’s the Difference?

1 Mins read

There are hundreds of crypto assets in the market. Some of them are top popular, while others are little-known. If we assess crypto projects by their place in crypto rankings, we can see that Bitcoin is the market leader. Next follows Ethereum, Tether and other currencies, one of them is XRP. In this article, we want to discuss crypto Ripple and compare it to Bitcoin.

What is Ripple XRP Cryptocurrency?

First of all, Ripple is a network that allows lightning-fast currency conversion and transfers all around the world. This system is much more efficient than traditional remittances offered by banks. Ripple is a payment system with the XRP Ripple token at the core. The token acts as an intermediary between converted currencies and facilitates money transfers.

Experts say the Ripple platform can rival the traditional money transfer system SWIFT in the future, for it has many advantages, for example:

  • Ripple enables fast remittances with no intermediaries
  • Ripple charges a minimum fee for currency conversion and transaction.
  • Ripple is a blockchain project, which means it simplifies the real-sector processes. 

Ripple crypto is ranked 6th in the crypto rating. Its price is $0,4279, the market capitalization is $21,2 billion, and the daily trade volume is over $3,6 billion.

What is Bitcoin?

Bitcoin is a blockchain network and crypto asset. It is the number one crypto in all rankings. Transactions in the Bitcoin network are slow and expensive compared to Ripple. Unlike Bitcoin, Ripple is a payment system and also a crypto asset. It is a centralized network, while Bitcoin is decentralized. These are the main differences between these two projects.

To learn more about Ripple, join its social networks and keep track of its news. Also, read Ripple reviews and latest updates about its development.

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