XRP is known as the cryptocurrency that is used by the XRP ledger, which does support international currency exchange and remittances

XRP is the cryptocurrency that is used by the Ripple payment network. It aims to be a fast, cost-efficient cryptocurrency for cross-border payments. You can send XRP to anyone in the world virtually instantly for a low fee.

In fact, that’s how some banks, payment providers, and some digital asset exchanges use XRP today. If you happen to decide to buy XRP what can you do with it? Indeed, you can hold onto your XRP as an investment, sell it, send it to a person, or convert it directly into Bitcoin.

If you happen to buy XRP you gain access to the RippleNet. RippleNet makes it super easy to connect and transact across its robust network of 200 banks and payment providers worldwide. Such giants as American Express are already utilising this technology for transactions. To buy XRP is to follow in the footsteps of some big players in the financial world!

Gaining access to some of the RippleNet when you buy XRP also has additional benefits. Different standards between different financial institutions internationally has potential problems. RippleNet addresses this issue by having a standardised network of institutions worldwide.

As the world’s population increases dramatically and the number of transactions within financial institutions balloons, speed of transactions become more and more problematic. Online pipelines become congested and waiting times increase. When you buy XRP coins you invest in a system that enables banks, etc to transact in seconds, not days, with instant settlement. We want to know the who, what and when of all our transactions. The RippleNet system, accessible when you buy XRP, gives end-to-end visibility into fees, status and customer information.

How much capital do you need for cross border payments if you’re a financial institution or a private transactor? Well, whatever is required in the more traditional methods, RippleNet allows for lower capital requirements for cross-border payments. A real boon for the inclusion of more transactions. All these benefits are a great reason to buy XRP. With many financial institutions already utilising the benefits of RippleNet, it stands to reason that others will need to offer a similar quality service to remain competitive.

Making the decision to buy XRP could possibly be a sound investment strategy. Of course, like all cryptocurrencies, XRP is still a comparatively new technology and way of undertaking financial transactions. However, you can’t help but think that the future looks ripe for their continuation.