If you ask the question: “Is XRP a good investment?”, we can assure you that you are not alone. XRP has been on fire recently and reached $1 on April 6. The market cap has also increased drastically up to $43 billion, which makes the cryptocurrency the fifth largest one in the industry. The question of “Is XRP a good investment?” can only be answered by looking at the driving factors of that rise and learning how to buy XRP or how to mine XRP.
Why Should You Invest In XRP?
First of all, it may sound weird but you should invest in XRP because the others did so. By others, we mean some big investors including Google. The idea of the Ripple startup has found lots of supporters on the institutional part of the market. While the popularity has been increasing, XRP gained trust, especially from the financial actors. Since Ripple’s main focus is payment technologies, many international banks with a number of more than 75 accepted Ripple as a currency.
Additionally, Ripple is much easier to buy than Bitcoin and many other cryptocurrencies. The XRP price is incredibly low and they do not charge any fee on the transaction. This low price does not represent the intrinsic value of the coin, thus you can see XRP as a long-run investment opportunity.
How to Buy XRP in 2021
Ripple has an amazing official website and they published a list of the approved companies. The requirements of these websites can differ but you can be sure that XRP can be exchanged with all the popular currencies like USD, BTC, CAD, EUR, JPY, and much more. The beauty of this list is that you do not need to do hours of research to find a reliable institution to buy or sell XRP. The most popular crypto exchanges offering XRP are GateHub, Kraken, and Bitstamp. Just take a quick look at the websites of these companies to have an idea about how to buy XRP easily.
How To Mine XRP
If you consider how to mine XRP, you will probably get sad with the fact that it is non-mineable. Many coins are known for their decentralized structure but that is not the case with XRP. The founders of the coin created only 100 billion units and they control the number of coins in circulation. You cannot increase the number by mining XRP by yourself and the decision is not up to the market. Therefore, there is no method on how to mine XRP.