How To Mine Ripple
Ripple is one of the emerging cryptocurrency of nowadays.
To make money in Ripple there are many ways like
- Buy cryptocurrency: your investment will grow as the price will go high
- Trading: Trade your cryptocurrency
- Get Reward: Join serval program online to earn Ripple as reward
- Mine: Mining crypto is the best way to earn.
But ripple can’t be mine like other crypto.
Ripple is a centralized cryptocurrency which can’t be minded.
As I say it is centralized so the owners can make as many coins they needed with some limitation.
So if you are planning to mine ripple so leave the idea, it is not going to be happen.
But now the question comes, if it can’t be mine so the how new coin made then.
How New Ripple Coin Made
When ripple was founded 100,000,000,000 XRP were created that time. Now they are not going to make more or less.
Everytime a transaction occurs on the network some XRP destroyed.
It means, during a transaction some XRP destroyed, which means over the time the total no of XRP will decrease.
Ripple works in some different way to other cryptocurrencies.
Their focus is to expand their reach to the bank and other financial institutions.
Their primary focus is to sell their software to the banks and other financial institutions, means they want to handover XRP these money agents.
That is why huge no of Cryptocurrency enthusiasts hate ripple because of its centralized behavior.
As we tell you that with every transaction some XRP burnt, but it will not be the reason for the Price drop.
Even, lower supply in comparison to higher demand will increase the price per unit.