XRP has been my favourite digital asset since the invention of bitcoin. I have been keenly following Ripple since 2013 and it has done an impressive amount of work on the ripple protocol. Here are my top 5 reasons to invest in XRP .
Impressive list of Investors
Ripple is well funded Startup with over $42 million from Venture Capital money. Big names such as Andreessen Horowitz, Google Ventures and Santander have all got stakes in Ripple. More venture capital is predicted to be injected in the future since most startups go through several rounds of funding.
Digital Asset with no Counterparty Risk
This is a real special property of XRP. Counterparty risk is the risk to each party of a contract that the counterparty will not live up to its contractual obligations. Counterparty risk is a risk to both parties . In most financial contracts,counterparty risk is also known as default risk. for example the dollars and pounds in your bank have counterparty risk. Bitcoins and XRP are digital assets that have no counterparty risk and that makes them very special indeed!
More Economical and faster then Bitcoin
One thing i love about ripple is that the security of the network does not rely on the “Mining” process like bitcoin. Personally i feel that Bitcoin mining, although serves a purpose of securing the network, is a complete waste of electricity. This is the reason that will hinder the growth of the bitcoin network. I think Ripples concensus is far more sensible way to secure the network and alot more greener. Also faster transaction confirmation is a benefit to the ripple network taking seconds rather then hours.
More Major Banks joining the network
In 2016, Santander became the first U.K. bank to use Ripple for cross-border payments, offering a simple payments app running on Ripple’s underlying technology. Santander, UniCredit, UBS, ReiseBank, CIBC, National Bank of Abu Dhabi (NBAD), and ATB Financial are among the latest banks to adopt Ripple to improve their cross-border payments. Ripple is the only enterprise blockchain solutions, Ripple’s growing, global network includes 12 of the top 50 global banks, ten banks in commercial deal phases, and over 30 bank pilots completed, among many others also using Ripple’s solutions.
Store of Wealth
i am sick of my wealth being inflated away by our current financial system. The currency in our banks have inherently have no value , they are not a store of wealth which is an important characteristic of sound money. to make things even worse we have central banks that print money with every financial crisis which just erodes value. XRP and Bitcoin are now being used as a store of Value because you cant print more of them… there will only be a certain amount of XRP. XRP is infact a deflationary money which by definition will become more valuable as time go on and thats one of the reason to invest in XRP early before the prices get high.