Bitcoin vs. Ripple Review
There is a continuous increase in the craze of the cryptocurrencies even after the downfall in the price. The reason behind it is the faith of all the major players and institutes associated with it. There are multiple currencies which are coming to the market day by day. But there are very few which are getting success. Bitcoin and Ripple are one of those which are widely accepted by investors all around the world. So here we are going to discuss the Bitcoin vs. Ripple Review which will help you decide which one is better.
Bitcoin is there in the market since the inception of the cryptocurrencies. It was and still is the face of all the digital currencies. If you want to know about the person who has invented it then you might get disappointed. As no one knows who invented it but the aim behind it was to replace the fiat currencies as the only means of payment. In which section it is able to prove itself.
Whereas Ripple is the digital currency which was created by the Ripple Lab Inc. in the year 2012. Since then it has gained a lot of popularity and has one of the largest market caps in the digital currency world. You will be able to find Ripple to trade on almost all the exchanges and is assumed soon it can take over the Bitcoin.
Bitcoin vs. Ripple Review
There are a lot of investors who are confused about the decision of the investment they want to make. So here are some of the points which will help you make the decision:
Bitcoin works on the technology of Blockchain using the mining process, but ripple is quite different. It uses the iterative consensus ledger and network servers which are validated along with the XRP currency tokens. They have the independent servers which are managing the ripple network and constantly comparing the transactions and recording it.
You will find that both the coins are very different from this perspective. Bitcoin is the currency which is needed to be mined regularly. Once a person mines the Bitcoin then it gets it in the form of the reward. At present, the miners get the 12.5 bitcoin for mining.
Whereas when Ripple is quite different there is no need to mine it. The flow of the Ripple is controlled by the company which is released by them on a regular basis. This benefit to the Bitcoin over the Ripple, as the company can stop the flow of Ripple whenever they want which can influence the price.
The transaction speed of the cryptocurrencies is always been the plus point over the fiat currencies as they can be transferred quickly.
But when it comes to the Bitcoin and Ripple there is a huge gap between the speeds of transactions. As Bitcoin takes around 10 minutes to transfer whereas Ripple is faster which is around 5 minutes for the transaction confirmation.
The aim of the currencies is quite different. Bitcoin was designed to replace the Fiat currencies whereas the Ripple was designed for the payment of the commodities like gold or oil over the network.
From the above-mentioned points, we can say that the Ripple is a better option for the institutions whereas Bitcoin can be best for the individual payments a person wants to make. So from the above Bitcoin vs. Ripple Review, you can decide which currency you want to use.