You may be wondering what are the differences between Bitcoin and Ripple, Bitcoin and Ripple are two very popular cryptocurrencies that have been on the market for a very long time now. These are the two most popular cryptocurrencies on the market today and it is imperative to understand the differences between the two cryptocurrencies if you wish to have an easy time investing and doing well in the market of cryptocurrencies today. That is the reason why we’ve created this quick guide on understanding the differences between Bitcoin and Ripple as cryptocurrencies.
Although Bitcoin is the unrivaled leader in the game of cryptocurrencies, Ripple is steadily gaining value as time goes a long due to the nature of its growing usage and applications towards financial technologies and services, Ripple is now third as of the time of this writing in terms of market cap.
This article will help show you the differences between the two cryptocurrencies.
Bitcoin operation uses a blockchain that is public and supports digital currencies for the transaction of money to purchase things and online services, Bitcoin uses the cryptocurrency indication known as: BTC.
Ripple uses another framework and has it’s own protocol and payment methods, although Ripple is technically spekaing another cryptocurrency (using the ledger XRP and known as the ripple coin), it is in reality mostly a payment system, asset management and a transaction system that works a lot like a bank transferring money through a network of intermediaries and financial hubs (One great example of this in action is the Swift Payment system)
In conclusion, Bitcoin and Ripple are two different cryptocurrencies that are used for different purposes and should be treated differently by investors around the world. Thank you for reading our quick guide on them!