Ripple (XRP) is one of the largest cryptocurrencies in the world. There are several investors that have purchased Ripple for many different reasons. However, most of them do not yet know what they can do with their Ripple this year. This is why we have decided to share with you a list of things you can do with Ripple in 2021.
If you thought that you could only invest in Ripple, then you were wrong. There are many other things that you can do with this virtual currency and that you should take into consideration.
Sending and Receiving Cross Border Transactions
One of the main things that you can do with Ripple is to send and receive cross border transactions. This is usually one of the best ways to exchange money across borders thanks to the XRP digital currency.
The service is usually offered by banks and financial institutions in order to settle payments in a shorter period of time. However, some small investors are also using Ripple to send and receive transfers across borders. Even people living close to each other are using Ripple.
This is a very useful way to handle XRP because it gives users the possibility to pay almost no fees for their transfers and they can receive the funds in just seconds.
Investing (Diversifying Portfolio)
Another thing that is worth taking into consideration is that Ripple could be one of the best things for investors to diversify their portfolios. We know that several companies and investors have purchased Bitcoin (BTC) and other virtual currencies. One of the best ways to increase their exposure to digital assets is by purchasing Ripple.
This can be done through custodians that would let companies buy Ripple (XRP) and keep custody of the coins in a safe environment. Hence, those users that have already entered the market and purchased other digital assets could also buy Ripple and diversify their portfolios.
Playing Online Casinos
We have also seen the expansion of cryptocurrency casinos around the world in recent years. Definitely, using digital currencies is one of the best ways to enjoy online gambling. This is why using your XRP at a Ripple casino could be one of the best things ever.
If you care about paying low fees and receiving your funds in just seconds, then XRP is going to help you do that. Moreover, there is a large number of games at online casinos that let you use Ripple to create your bets. What are you waiting for to test different crypto online casinos and use your XRP to test your luck?
Betting at eSports Sites
Another thing that you can do with your Ripple this year is betting at different esports sites. You would be able to get access to some of the best esports sites in the world, including teams and their franchises.
You would not only enjoy high-quality players but you would also be able to bet for your favourite teams using one of the largest cryptocurrencies in the market: XRP. If you like esports and you hold Ripple, then you should definitely try this out in the near future. Using Ripple has many noticeable benefits.
Paying for Goods and Services
If you thought that you couldn’t do more things with Ripple you were wrong. Have you ever thought about using Ripple to pay for goods and services? Let us tell you that there is a possibility to do so. There are many shops and commerces that are already accepting XRP payments.
Moreover, there are some solutions that are also allowing users to use debit cards funded with digital currencies. In this way, you can use your Ripple coins to pay at any shop that accepts goods and services. That’s definitely one of the best things that you can do with your XRP.
Using it as Collateral to Borrow Funds
Over the last few years, we have seen how cryptocurrency exchanges and other decentralized finance (DeFi) applications have been allowing users to borrow funds by using digital currencies as collateral. This is one of the best things that you can do if you need cash and you do not want to sell your XRP tokens.
Ripple would let you use these coins as collateral and you will get other digital assets or cash. You would have to give back the funds in the future, but you would not be pushed to sell your XRP coins.
Finally, Ripple holders can also trade this digital asset in the open market. There are several cryptocurrency exchanges that are letting users trade not only with XRP but also with other virtual currencies. If you are a good trader or you have experience trading in traditional financial markets, it is also possible to use Ripple and make profits with its price fluctuations. However, be prepared to experience some volatility during short periods of time.
- Trade on Bitmex
- Trade on Binance Jersey
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