Comparisons between The Ripple, Bitcoin and Litecoin

Ripple, Bitcoin, Litecoin Cryptocurrencies are digital currencies available in many exchanges. Bitcoin is the most popular currency used worldwide, followed by Ripple and Litecoin. There are many cryptocurrencies in the digital market, but the demand and popularity of bitcoin is unbeaten. The market cap of bitcoins is at its peak, and above all traders can deal with Bitcoin as they have developed a strong platform over years.

What differences make them long-standing in the market?

The popularity of bitcoin can easily be determined by the market cap value that is about 70 times greater than Litecoin. The trade market of digital currency is indeed volatile. But despite the fluctuations, traders have earned profits over years from Bitcoin trading. Bitcoin runs through an old algorithm SHA 256, while Litecoin uses one of the new algorithms known as Scrypt. Over years, it has pushed Bitcoin to the top and Litecoin is in the sixth position.

Ripple stands in the third position, it was launched after Litecoin. The reason for the fast pace progress of Ripple is its direct connections with the banks to work implementing the XRP protocol. The benefit of using it enables transactions through wire transfer and SWIFT. Comparatively, Ripple and Bitcoin does not have such direct banking services.

The main intention of introducing Bitcoins was to provide a peer-to-peer platform. The launching of both currencies was to serve as a digital currency but in different formats. A ripple enables transactions to 1,500 per second while minimum ten minutes is required to add a block into the Bitcoin blockchain.

Ripple can push behind Bitcoins in the alarming future. Litecoins possess more functional features compared to Ripple. It enables to deal with different transactions that are limited to day to day basis, and it is done on a peer-to-peer basis. While Ripple is not effective in providing similar features like Litecoins. XRL is responsible for all transaction services at a low price and delivering fastest transactions.

All three have been popular and preferred in different trades and industries due to their features. Depending on the kind of services required, the user will select their cryptocurrency. It is better to diversity the portfolio and add more than one cryptocurrency in your investment plan. You can reduce the risk of volatility of this crypto market by using more cryptocurrencies. Along with that, choosing a platform for trading with different cryptocurrencies is essential and you can choose 1k dailyprofit in this regard. It is a trusted platform by many investors.

Some of the basic differences between Bitcoin, Litecoin, and Ripple

Ripple is not a cryptocurrency but a technology that is used for online or digital payments. On other hand, Litecoin's functional features are greater than Bitcoin.  Bitcoin is responsible for new currencies’ units. Also to record of all transactions are stored in a public ledger.

Did you ever imagine the appearances of cryptocurrencies? All three have different appearances or colors. If you have seen any bitcoin, it will be a golden color, while Litecoin has a silver color. XRL has a beautiful violet color that differentiates in looks from the other two. It is not difficult at all to recognize these currencies at once..

Ripple requires four seconds for a block time, while Bitcoin needs 15 seconds. The transaction period is 10 minutes for Bitcoins and Litecoin needs 2.5 minutes to add each block. Bitcoins act as a complete solution for all digital currency transactions. Litecoin and Ripple both specialize in distinctive features.

Bitcoin still ranks high despite being slow and time-consuming transaction process. Bitcoin runs in a volatile market, so there are risks factors apart from high profits.  Bitcoin is a trusted cryptocurrency because it is the first crypto launched in 2009 and it has gain a huge popularity by giving high-profits over the years.

 Ripple has a fixed supply of about a hundred billion, it focuses on providing payments in any type of currencies. Above all, Ripple is not blockchain technology, so do not confuse it with Bitcoin or Litecoin. Another essential feature of Bitcoin and Litecoin is they require intensive minings. But Ripple does not need anything such for transactions in digital currency. So you must choose the best cryptocurrency according to your needs.