Cryptocurrencies are divided into coins, altcoins, tokens, NFTs, DeFi tokens, utility tokens, etc. In this article, we will talk about altcoins, their essence and one of the most popular altcoin crypto Ripple.
Altcoins is the term that refers to all crypto assets other than BTC and ETH, and there are thousands of them in the crypto scope. Altcoins are differentiated by the way they were engineered and the purpose of their use. Many altcoins are created and rolled out by developers and have different use cases. The future success of altcoins depends on their purpose, technological base and versatility. One of the most popular altcoins is Ripple crypto. Let’s take a closer look at it.
Ripple Coin Meaning
Ripple is a platform that provides efficient and cheap money settlements. It is a payment system similar to SWIFT. Ripple can even compete with this popular money transfer system in the future. Many large financial establishments in the world integrated Ripple technology into their systems. And here are the reasons they did it:
· Ripple network enables fast currency conversion and transfers it throughout the world without delays inherent to bank systems.
· Ripple fees are insignificant compared with bank commissions for cross-border money transfers.
· There are no middlemen in the Ripple system.
XRP is Ripple crypto used for currency conversion and transfers. It is of the top most traded crypto assets on ratings, and its rate is $0,4013 (late September 2022).
Other popular altcoins include
· Bitcoin cash.
To buy Ripple crypto or any other altcoin, go to the WhiteBIT exchange. It offers over 400 crypto pairs and supports all credible cryptocurrencies. On WhiteBIT, you can buy digital assets with fiat currencies using your bank card. The platform is the leader among European crypto exchanges, functioning according to the regulator’s rules.