Amazon To Start Accepting Ripple?
The latter half of 2017 has seen the world go crazy for cryptocurrencies. Are they a fad, a bubble about to burst or are they the future?
The answer lays in the hands of the online giants. If there was an announcement that Amazon was to start accepting Ripple the future of this currency would be set in stone.
$XRP RIPPLE has founded itself as being one of the new primary cryptocurrencies to shape the future of digital business. Following on the heels of the formal lockdown of 56 billion dollars RIPPLE in bond, $XRP saw a 250% surge in price to 0.85 USD levels.
Currently, with the backing of banks such as Santander and various other monetary institutions, $XRP aims to make a strong case as the cryptocurrency of choice for a net commerce titans like Amazon.com and Apple.
There are nearly 1500 Crypros now, so what makes Ripple so special?
Quicker Transaction Times, Low TX Costs
Many smaller companies have started accepting Bitcoin of late, but small business can afford to take more of a risk. What a company as large as Amazon.com really needs in a digital currency is firstly stability. We saw proof of this when a popular gaming portal that had been taking BTC since Spring 2016, discontinued its use despite the coin setting record all-time highs on the exchanges.
Companies like Amazon.com are not average-joe traders just wanting to grow their investment cash as quick as possible. A sweeping shift as big as the one required to start taking crypto needs serious security. That gaming company surrendered on Bitcoin because of crazy high fees and high volatility.
I tried out a Bitcoin retailer recently and the fees were shocking. I bought a Gift Card using Bitcoin and the charges to purchase a $50 card was in the region of $11. Plus, it took nearly an hour for the payment to be processed. At this moment I sold all the Bitcoin I owned.
I Sold All My Bitcoin
With an XRP transaction, the standard applied fee is 0.00001 RIPPLE. Even when $XRP gets to the high price point of $TEN per unit of currency, that corresponds to a fee of 1/100th a cent for each transaction. With charges that modest, coupled with the super fast rate of financial transactions, firms are at last being presented with a Crypto that delivers upon the undeliverable promises of Bitcoin.
Strong Supply = More Stable
$XRP also addresses the problem of wild rollercoaster pricing. Most newbies to crypto are excited by the limited supply of Bitcoin. Only 21 million will ever be worked into the system. $XRP has a maximum quantity of ONE HUNDRED billion RIPPLE, with 55 billion of that held in bond by the parent provider.
That’s in excess of 4800 times the supply of Bitcoin that will ever be produced. Although the higher supply necessitates a considerably lower price-per-coin of RIPPLE than what we observe in the current appraisal of Bitcoin. It also offers reduced rollercoaster rides for investors and users alike.
The Price of Ripple Will Keep Rising Slowly
The cost of $XRP, and all crypto throughout the board will continuously rise over the upcoming season. This as the general public and large financiers brings more money to the table. However, when those rates stabilize, the large currency supply of $XRP will lead to reduced fluctuations in price.
It takes a great deal to move a fund of 100 billion coins. Consider the United States dollar. We don’t see enormous fluctuations in USD just because of capitalists in Asia, or around the world, choosing to dump their portfolio of USD.
Sell 1000 Bitcoins And You Swing The Price
While 100 billion RIPPLE is tiny compared with the trillions of USD in motion, $XRP is also not likely to see the same degree of adoption as the USA dollar.
Think about it another way: an 18-year-old sitting on a hard disk drive of ONE THOUSAND mined Bitcoin from 2014 can significantly change the price of $BTC for a day or even longer. Imagine the pandemonium for the likes of Amazon.com if their crypto rate point fluctuated significantly from the moment an individual puts an item in their shopping cart to the point of check-out.
It harms their ability to efficiently correlate product costs and it’s baffling to the consumer.
Price Point Is Important to Amazon
Amazon has no control over what the markets may determine, but they have to watch out for whales resting on tons of $BTC that could sink or raise the price point ad-lib. $XRP is certainly not immune to price alterations or early-investors keeping an asymmetric portion of the currency, but its sizable supply does offer a barrier to private auctions.
The gradual creep of RIPPLE to 0.85 USD has been relatively mild compared with the likes of Bitcoin and the fork of Bitcoin Cash. Once $XRP hits big exchanges like Coinbase and gets to higher market concentration, the price will take an initial leap and then level off.
Ripple is Consumer Friendly
Amazon.com is about the end user. No cryptocurrency will ever get a place on Amazon’s website if it cannot show itself to be good for the user experience. Crazy processing fees and sluggish purchase times are contradictory to this rule.
What’s easier for a layperson to understand: a rate of 0.00005 Bitcoin, or 3 RIPPLE? The crypto-fan or financial expert can see past this problem, but perhaps not so much the average-joe website user.
There are thousands of Crypto’s out there but we have to ask the question, how many of them care about the end user? Or are they just get rich quick schemes?
Get Rich Quick?
Hedge funds, banking institutions, and Amex have all signed on as substantial supporters of RIPPLE. $XRP has created something that few other cryptos have managed to do so far. A digital currency that pre-existing companies are not only ready to use, but will benefit from doing so.
Most of the other Cryptos are fighting ‘the man’, Ripple wants to help ‘the man’!
Amazon.com is most likely one of the significant customers to take this step in 2018. A business giant like Amazon can’t ignore digital currency anymore. They are in dire need of an altcoin that offers quick financial transaction times without having the crippling TX charges of Bitcoin’s current system.
XRP The Solution
$XRP offers a solution to those issues. While also offering a payment solution that is being backed by the financial institutions. While it’s hard to say what direction Amazon.com will take with regard to cryptocurrency. XRP/Ripple appears one of the most sensible choices currently.
But… this is a crazy world and tomorrow the story may be different. Who knows!
About The Author: Craig Beck ([email protected]) is a bestselling personal development author, speaker, and coach. Via his Millionaire University, he teaches people the systems and mindset required to build increasing streams of revenue.