Cryptocurrency Ripple is gaining tremendous popularity. For actual and potential customers, it has become more than just a way to store their own money. Some people are considered that putting Ripple on the list of cryptocurrencies is a mistake because it is just a payment system that uses its crypto.
What is Ripple (XRP) and how do I get an XRP Wallet?
One of the main goals of this payment system is to help banks make instant money transfers and payments all around the world. Ripple’s main customers are banks that use the xCurrent software solution to make cross-border payments with real-time transfer tracking. Regular users can also use Ripple’s digital currency for mutual payments.
It is possible to buy XRP using a bank card or a bank transfer. Ripple is also offered by all kinds of exchanges. So, how to create a Ripple wallet to use the cryptocurrency most safely and profitably?
Where to store Ripple?
The question of how to create a Ripple wallet is the most popular among other questions about this payment system. Specialists do not recommend using exchanges for storing Ripple, because it deprives the owner of the possibility to manage their funds. The main advantages of Sapien Ripple wallet are:
- High level of security for users’ interests protection.
- The maximum speed of information processing.
- Maximum openness.
- Sapien wallet is non custodian wallet.
Sapien blockchain wallet as a multi-currency wallet accepts a lot of different cryptocurrencies. The system does not contain any hidden information, which causes the trust of a huge number of users.
What is the architecture of Ripple?
Ripple’s architecture resembles a SWIFT global payment system. It uses its own global network, RippleNet. Elements of the Ripple network:
- Validators. These are the nodes trusted by the majority of network participants. They control and verify transactions. Network participants can choose the servers and validators.
- External gateways. They are used for internal exchange transfers. Typically, gateways are banks.
When choosing Ripple mobile wallet app for Android and IOS, carefully evaluate all the pros and cons, without focusing on any one thing in particular. The information about how to create a Ripple Wallet or how to register it should not be the deciding factor: even if this procedure seems difficult to you, it can be dealt with. So the main criterion should be the ease of use for you.
What are the main components of the Ripple ecosystem?
Ripple Labs’ three key products are xCurrent, xRapid, and xVia. They form an ecosystem managed by the RippleNet network of banks and financial institutions.
Benefits of Ripple (XRP) cryptocurrency
The mission of Ripple Labs is to give users all around the world the ability to control their finances and make instant and secure money transfers anywhere in the world with minimal costs. Below are the advantages of the Ripple network that make the platform popular among both average users and large financial institutions:
- Payments are made in seconds.
- Maximum security of all transactions.
- Low commission per transaction.
- Support of various world currencies and precious metals.
- Full anonymity of all participants.
- The maximum number of coins is 100 billion.
- Each coin can be divided by the user into several parts, which are called “drops”.
- Ripple cryptocurrency can be converted into other cryptocurrencies.
- The source code of the Ripple protocol is open and the transactions are completely anonymous.
Ripple is not just a payment coin, but a specific technology that banks around the world began to look at.