Ripple cryptocurrency has been added to 1xBit platform
We at 1xBit are excited to inform you that Ripple (XRP) became the 20th digital asset available to use on our website. Now you can bet on football matches, gamble in online casino, as well as bet on eSports (such as Dota 2, CS:GO, etc.) using Ripple. This is great news for everyone since XRP has undeniable advantages over other cryptocurrencies.
Content:
1. What is Ripple?
2. XRP cryptocurrency numerous advantages
3. Ripple’s perspectives
4. Our conclusion
What is Ripple?
Ripple is a famous cryptocurrency platform designed for payment systems, focused on operations with the currencies exchange irrevocable payments, developed by Ripple and initially launched in 2012.
The platform is based on an open shared database. Ripple cryptocurrency (XRP) has its own global network – RippleNet. It is designed to provide a more convenient experience for its users.
The main Ripple’s XRP feature is fast payments with low transaction fees that allow this currency to hold within the top 5 digital assets by market capitalization. Moreover, Ripple cryptocurrency platform is focused on transactions with no chargebacks.
XRP cryptocurrency numerous advantages
When using Ripple to deliver payments between countries, businesses avoid unnecessary financial, time and labor costs. All payments are sent according to strict rules, with the exception of time delays, with a specific cost per transaction.
Ripple has many advantages, but the main ones are:
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Full anonymity when making transactions
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High transaction performance speed (faster than SWIFT) - the transaction confirmation time for XRP is 4 seconds, while for Ethereum this figure exceeds 2 minutes, and for the Bitcoin, it is usually more than 1 hour
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High scalability (throughput of more than 50,000 transactions per second)
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Tracking of payments (processing on-demand payments with tracking and delivery confirmation)
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Reliability (supports open source database and a team of full-time engineers)
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Capital efficiency (more capital resources used to ensure funds flow by freeing up capital that is currently idle in foreign exchange accounts)
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Rich data transmission (improves the reconciliation process much, including invoices attached to payments)
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Institutional asset (use case intended for the enterprise)
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High level of protection against hackers and cyber attacks
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No asset inflation (new coins don't appear while old ones don't disappear)
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Minimal platform’s commission
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Currencies and values exchange within the system
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Option to cancel or edit a transaction by rendering it invalid
Ripple’s perspectives
XRP cryptocurrency is destined to become a global payment system of the future in the long run, as even today it’s already being used in such major banks as UniCredit, Western Union, Santander and UBS. Ripple company has partners and investors, among which are such major brands as Microsoft and Google - such top contacts say a lot about the level of trust for the platform.
Ripple had certainly drew the attention of major players of the financial world as company had signed multiple cooperation agreements during recent years, including the one with the National Bank of Abu Dhabi, which operates in 17 countries.
Speaking about nowadays, the list of organizations working with Ripple is huge. In September 2018 Ripple team announced the integration of RippleNet technology into the national commercial Bank, located in Saudi Arabia and one of the largest banks in the Middle East. Moreover, PNC Financial Services announced it will use Ripple's xCurrent system in international payments.
Our conclusion
Fact is, Ripple is a very solid and stable cryptocurrency asset.This is undoubtedly good news for the Ripple holders - it is the currently second most popular digital asset after the Bitcoin, which surpassed even Ether
Meanwhile, we will soon launch two other highly-widespread crypto assets for the betting: Tether and Tron (which are 5th and 10th cryptocurrencies by the market cap at the moment respectively). More info will be revealed soon.