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One of the cryptocurrencies getting a lot of attention is Ripple (XRP). It is similar in some respects to Bitcoin but it does have a major difference, as it is controlled by just one company. Ripple is used to connect some banks, digital asset exchanges, payment providers and users so that money can be sent easily. Ripple launched in 2012 and it has gained a following from some major players including Bank of America and Santander.
The big thing about Ripple is that it is not “mined” by users like Bitcoin. Ripple is controlled by the company. There were 100 billion coins initially created and 38 billion are currently in circulation with 1 billion more available set to be released each month. Ripple has gone up in price recently but if the company releases a billion coins each month it could oversaturate the market. Suitable for Bitcoin Sports Betting.
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Ripple’s payment network, RippleNet, does use blockchain technology. A blockchain is simply a digital ledger that records all transactions. Ripple is gaining popularity, but it still can’t be purchased directly, as it still has to be exchanged for Bitcoin.
How do I buy Ripple
You can buy Ripple by using one of the currency exchanges such as Bittrex or Poloniex. These exchanges allow you to use a credit or debit card or bank transfer to buy Bitcoin and then you can exchange it for Ripple. You can then send Ripple to your sportsbook account and you can withdraw Ripple from your sportsbook account to your digital wallet.
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