Unlike Bitcoin and other cryptocurrencies, Ripple mining is not possible. The only individuals who can generate XRP are the ones who actually created it. Only 100 billion XRP coins have been released till date and every transaction would eliminate the XRP used. Once an XRP has been used, it cannot be further used in the next transaction. This basically implies that XRP would gradually be exhausted as more people use the Ripple network to process transactions or simply use XRP, thus raising its value in the process.
Created by Jed McCaleb and Chris Larsen, and first released in 2012, Ripple runs on a Proof-of-Work consensus algorithm. It is a payment network that is powered by the Ripple payment protocol. It was intended to ensure instant, secure and zero-cost financial transactions worldwide. It is built on a similar structure as that of Bitcoin but the inherent difference lies in its technology.
Today’s Ripple Price
1 XRP = $1.38775
Interested in Ripple Mining?
Mine Ripple with
Since you cannot mine Ripple, the only option is to mine other Cryptocurrencies first and then look for exchanges that help you convert your BTC to XRP. In this way, you can lay your hands on XRP directly without having to pay for the Ripple mining process separately. Many people have already started buying XRP owing to its advanced structure and the gradual increase in its price.
There are plenty of benefits of using Ripple as a payment system, including increased stability and faster transactions.
Improved consumer experience, no systemic risk, and reduced fragmentation are some of the other advantages of using Ripple.
Hashgains is one of the leading cryptocurrency mining service providers across the world. With an access to the leading latest technologies and big industrial data centers, Hashgains provides excellent mining services at an affordable price. Hashgains mining platform simplifies the Cryptocurrency Mining process and provides the newly mined coins in the easiest way. The list of services include –
Three easy steps to mine Ripple
First, make your account on Hashgains and register yourself
As per your budget, choose your purchase plan and proceed further
Finally, you receive your newly mined coins