Investing in the cryptocurrency market is risky business because you never know when the market will go on an upswing or crash. This is why so many people get interested in investing money in altcoins, especially since there are so many stories about people who made good investments and got rich overnight. Seeing how the market is so highly volatile, we advise people to only invest sums that they can afford to lose and to invest in projects that they believe in.
VeChain vs Ripple
Investing in huge cryptocurrencies such as Bitcoin and Ethereum is considered to be a “safe bet”. However, a Bitcoin token is currently worth $6,729.00 which makes it difficult for people to invest money that they can afford losing. Here is where VeChain and Ripple come in.
VeChain and Ripple are great for new investors who are looking to expand their portfolio and get involved in the cryptocurrency market because their tokens are affordable with VeChain being priced at $3.22 per token and Ripple at $0.537489. With that said, lets see what these cryptocurrencies are all about.
Ripple (XRP) is Focused on Banks
The thing that makes Ripple special is the fact that it focuses on allowing banks to transfer currencies between each other. Ripple is currently partnered with more than 100 banks and it can transfer funds on a global scale in a matter of seconds. Things get even better than this since Ripple charges $0.0004 XRP per transfer which is basically free.
Unlike Ripple, VeChain is not trying to get banks to use it and instead of that, VeChain’s goal is to connect blockchain technology to the real world. VeChain features advanced IoT (internet of things) technology which makes it ideal for developers who are looking to introduce blockchain technology and cryptocurrencies in real world applications.
Nicole Hicks a graduate of UFT. She’s based in Toronto but travels much of the year. Nicole has written for NPR, Motherboard, MSN Money, and the Huffington Post. Nicole is a financial reporter, focusing on technology, national security, and policing.