With changing times we also need to change the way we do our transactions. Our last century
was famous for the banking system and paper currency. The present time is focusing on digital
currency while the future belongs to cryptocurrency. Cryptocurrency is a new concept of a digital
transaction. Unlike the present banking system, a Blockchain cryptocurrency is a decentralized
system of transaction that doesn’t require a third party authority to verify a transaction.
Litecoin and Ripple are also cryptocurrencies that have a decentralized system of transaction.
Bitcoin was the first cryptocurrency which was launched in the year 2009.
What is Ripple
Ripple is a cryptocurrency just like Bitcoin and Litecoin which was released in the year 2012 by
Chris Larsen and Jed McCaleb. Ripple coin is known as XRP. Ripple has recently seen a recent
rise in the market since the rise of Bitcoin. Since most people are unable to afford Bitcoin, therefore, they are going to Ripple. Ripple uses the gateway as a medium to initiate transactions.
Gateway works as a trustee to ensure the liquidity of transaction between the two parties.
To understand it in simple terms, you don’t need a single gateway to initiate transactions. If you
want a pay in Bitcoin then you can get it even if the other party has Litecoin or US dollars.
What is Litecoin
Litecoin that was released in the year 2011 is a peer to peer cryptocurrency which is similar to
Bitcoin and Ripple but have some technical differences. It is also a decentralized system of
transaction where you don’t need a third party as authority like the banks. Most of them follow
the Blockchain methodology which a ledger that keeps up all the details of transactions made.
Litecoin is quite faster than Bitcoin which generates one block in every 10 minutes while
Litecoin does it in every 2.5 minutes.
Market Details of Ripple and Litecoin:
Ripple is far ahead of Litecoin in terms of market with $29,413,005,638 as of December 16,
2017 and ranks at a fourth spot behind Bitcoin Cash. Whereas Litecoin ranks at fifth spot with the
market cap of $16,354,811,440 as of December 16, 2017. The present price as of December 16,
2017 of Ripple is around $0.759 while Litecoin is around $301.01 and is rising at a sharp speed.
Going to the historical database, Ripple’s market didn’t pick up much in the starting few years
but since July 2017 the market has picked up. From $0.2 to the present price of $0.7, Ripple is
rising at a very fast speed and is aiming to touch $1 within few days. The market cap that was
around $45, 921, 033 USD on August 04, 2013 has now increased to $29,413,005,638 USD and
is rising constantly. The price of Ripple started to rise since December 2017 and is still rising.
On the other hand, Litecoin is at the fifth rank in cryptocurrencies in terms of market cap with
the total Market cap of $16,354,811,440 USD as of December 16, 2017. The market cap of
Litecoin was $73, 773, 387 USD on April 28, 2013, that has risen up so high. The price of Litecoin
on April 28, 2013, was $3.51 USD which is now $301.01 as of December 16, 2017. The price of
Litecoin started picking up since April 2017 which is still seeing a constant rise. Since December
11, the price of Litecoin has taken a sharp jump.
How to Buy these Cryptocurrencies?
There are total 84 million Litecoin in the market that can be bought or sold. On the other hand,
ripple plans to create 100 billion ripple coins that can be purchased by the users. To buy
Litecoin you need to first buy another cryptocurrency like the Bitcoin in general. You can visit
www.CoinSwitch.co where you can buy Litecoin using Bitcoin. If you have Indian Rupees and
want to buy Litecoin then first buy Bitcoin from Zebpay and then you can buy it from the formerly
Similarly, Ripple can also be brought using the same method of first buying bitcoins then buying
ripple using Bitcoin. The other method can be buying Bitcoin and then transferring it to Bitfinex
and then transferring it back to buy Ripple. There is no direct way of buying Ripple by using INR
so you have to go through this procedure.
Top crypto trading websites
Some Places where you can buy these Cryptocurrencies:
- Bitbay and
Advantage of Buying Ripple
Ripple has various advantages if you buy it. There are several reasons like:
- Ripple’s market price is quite low. It is around $0.75 (Dec 16, 2017) which means that
you don’t need to invest much in buying the coins.
- The price of ripple is rising with a rocket speed. The price that was $0.4 two days back
has increased to $0.75 within two days.
- The future of cryptocurrency is bright and the rise in price is constantly getting high
- At present, there is no other cryptocurrency at this price like ripple so you can buy it in
cheap with huge returns
- It is evident that the price is going to rise above $1 and beyond. You may not know that
when it can even cross $1000 mark so don’t waste time and just buy it.
Disadvantage: One of the biggest disadvantages of Ripple is that it is not available in Indian
rupees and you have to first buy Bitcoin which is very costly.
Advantages of Litecoin
The advantage of Litecoin is that it is more secure and is picking upmarket. If you invest in
Litecoin then you will get huge returns. Within 1 year the price of Litecoin has risen by 7000%
which can easily give you the hint that how much profit you can get if you even invest in it now.
Litecoin is picking up markets and will continue to rise as of present. Within 10 days the rise is
very high from $100 to $300 now. With few fluctuations, the price seems to rise upwards.
At last, ripple or Litecoin, both can’t be purchased using Indian rupees and you have to first buy
Bitcoin that is highly costly. For small terms, ripple is beneficial and for longer terms Litecoin
would be preferable. One thing is sure that both of them can give you huge returns because
cryptocurrency and Blockchain hold the future.