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Unlike the 500.00 you have in your bank in which a bank would tell you that they owe you 500.00. This also means that the more people using Ripple or the more transactions used through the Ripple system would slowly eliminate its own coins and of course raise its value. Let us go back to the question on what is Ripple? Since you are unable to mine Ripple directly, you need to look into websites that can mine Bitcoin and convert your Bitcoin to XRP.
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While Bitcoin is reaching its all time high this year in 2017, Ripple has been playing along and creating its own thing. What does this make of it? It may not be in monetary form but in transaction speeds.
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You are unable to mine Ripple directly as this coin cannot be mined and the only people that can generate Ripple would be the company that has created. XRP shortens that exchange process as it works directly as an exchange for all currencies. Price of Ripple within 90 days timeframe. Ripple or XRP hasnt been able to reach the.00 mark but yet it has earned a seat in one of the popular altcoins today.
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Here are the websites that do not mine Ripple directly but have exchanges that can change your mined coins into Ripple. And since it is a crypto currency, you completely own the XRP that you have in your wallet. Two Main Purposes of Ripple, first, it serves as a currency to pay for services. Not to mention the fees in between those exchanges. So how do you mine Ripple?
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For example, if you want to convert one currency to another, you will not only go through one intermediate currency but a lot! Ripple has eliminated this and made sure that every transaction involving their coin would always have a fee of XRP. And once a Ripple is used this cannot be used for your next transaction. Well, a free online transaction is not always free as there would always be a price.
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Just like Bitcoin, Ripple shares a public ledger with a consensus process. As of July 6, 2017, the price of one XRP is only about.2494 per coin. The price and the current Ripple it is making in the market is what makes people interested in this crypto currency. One of the problems with other crypto currencies is that they have not charged you anything for the transactions that you would be making?
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It is an asset that works as a foreign exchange that can be liquid enough to work with any currency. It is the second largest market cap coin and it works as a payment system, way of exchange, remittance for fiat currencies, crypto currencies and of course commodities. There are only 100 Billion Ripples created on its release and each transaction would eliminate the Ripple used.