The cryptocurrency craze has officially caught fire – and Ripple (XRP) is one of the best-performing digital coins on the market. But it’s only recently getting attention from people who haven’t dabbled much in digital currencies before.
It used to seem like the only cryptocurrency you would ever read about in mainstream media was bitcoin (BTC) – and sometimes Ethereum (ETH). Nowadays, however, top financial and investing news sites are featuring altcoins like Ripple (XRP) and Litecoin (LTC), and it’s catching the eye of the average joe.
But I’m new to cryptocurrency, should I really buy Ripple (XRP) over Bitcoin (BTC)?
Ripple (XRP) is clearly growing in value, especially in the past week – but is this the right choice for rookies who haven’t bought cryptocurrency before? Bitcoin (BTC) and Ethereum (ETH) seem to be the safe, popular, and boring choices, which is leading a lot of new cryptocurrency investors to look towards altcoins (meaning, digital currencies that are an alternative to bitcoin).
Ripple (XRP) is backed up by blockchain technology that is just as robust and reliable as bitcoin (BTC), and the fact that it’s an altcoin that’s gaining traction might end up being more lucrative for you in the short-run. If this week is the first week you’re buying cryptocurrency, then Ripple (XRP) might give you the higher returns than if you were to pick a more popular coin.
Just in the past seven days alone, Ripple (XRP) has gained about 150%. In the past month, it’s been a 250% increase. These kinds of short-term gains are incredible, and Ripple (XRP) may have more steam in its engine – maybe even enough to surpass Bitcoin Cash (BCH) or Ethereum (ETH).
The author of this article does not own any of the assets mentioned above.