Ripple is the name of the settlement system being developed by a company in the United States, Ripple Inc. XRP of its own currency used for that settlement is generally called Ripple and it is traded as a virtual currency.
Characteristics of Ripple
Ripple has applied techniques of bit coin and has technology that solves problems such as extensibility and settlement speed, which are shortcomings of bit coins up to now. In addition, XRP used in Ripple functions as a bridge currency, can exchange freely with other currencies, and can mediate transactions between minor currencies.
The future of Ripple
Ripple is also known as being invested by Google, but it also occupies the third largest market capitalization of the entire virtual currency.In 2016, 43 banks such as the Mizuho Bank announced the adoption of Ripple, and in 2017 news was announced that 6 global banks adopted Ripple. In the future, we are showing signs of steady diffusion as financial institution settlement and remittance service.
How to purchase Ripple
To purchase Ripple, you need to open an account (account) with “exchange” that offers Ripple’s transaction service for the first time. After that, I will deposit Ripple by depositing money into my account by bank transfer etc. method.
Purchase of Ripple
There are few exchanges in Japan that can purchase Ripple, Coincheck is the best we can consider, considering transaction volume and service.
Exchange on Ripple
There is “Rental virtual currency service” in the coin check, and you can get usage fee of 5% maximum annual rate by lending Ripple purchased.
When Ripple’s XRP was launched in 2013, it was about 0.6 yen per 1XRP. After that, although it stayed less than 1 yen until about March 2017, it will be over 3 yen in April.
In May, it rose sharply to around 50 yen by Ripple ‘s lock – up announcement. After that, the price declined, and in June it is trading around 30 – 35 yen.
Since Ripple’s XRP has aspects as a bridge currency, it is thought that it will be difficult for financial institutions to use it if the price rises too much. As a result, some people speculate that Ripple is adjusting the price.
We may not be able to expect prices of thousands or tens of thousands of 1XRP ahead, but on the other hand, it is expected that it will be difficult for a significant price decline to occur.
Will not it be a trend to invest in Ripple from now on shifting to long-term holding rather than seeking profits in short-term trading?