![]() In 2018, XRP went on to reach an all time high of $3.84 a coin – a long way from its prices just a year before. This huge surge in value was due to both bank adoption and speculative interest. XRP took off in value in 2017 when it went from under $0.01 to over $0.30 a coin. ![]() While large scale investors may be able to invest in Ripple directly, most other investors and speculators are limited to investing in XRP, Ripple’s native currency. It’s been included in Forbes’ annual Fintech 50 several times, most recently in 2020. Considering that banks perform thousands or perhaps millions of transactions every year, this would represent significant savings.Īs it currently stands, Ripple is an exciting fintech organization with its innovative financial platform. Many financial institutions and payments firms have joined the RippleNet platform, including Santander, MoneyMatch, the Bank of America, SBI Remit, TransferGo and more.Īccording to Ripple, banks can realize cost savings of between 33-42% by using their protocol. XRP is a cryptocurrency aimed mainly at financial institutions so they can convert their funds into XRP and transfer it quickly to other institutions around the world.Īs for the performance of the Ripple network, aka RippleNet, an XRP transaction takes 4 seconds to settle on average, with the network able to process up to 1500 transactions per second – all with a transaction cost of just 0.00001 XRP for each standard transaction. ![]() An IOU can be issued for any type of asset, not just currencies. I owe you) and can be traded between different institutions. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.The Ripple Transaction Protocol (RTXP) supports two types of currencies – IOUs and XRP. compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. We may also receive compensation if you click on certain links posted on our site. We may receive compensation from our partners for placement of their products or services. While we are independent, the offers that appear on this site are from companies from which receives compensation. Gemini’s lack of hacks and sizeable insurance fund gives crypto beginners a level of comfort that Binance.US simply does not have.į is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. From a beginner’s perspective, Gemini might be the better choice because of its dedication to security and well-roundedness concerning fees, features and cryptocurrencies it offers.Īlthough it may not be as easy to use as Binance.US, the flexibility of its platform makes up for any shortcomings. The comparison between Gemini and Binance.US is close, but Gemini won four of the seven rounds. In this sense, Gemini has a better track record and demonstrates that it’s prepared to respond to an untimely hack. While Binance immediately reimbursed the affected users, Gemini has never been hacked and touts one of the largest insurance funds in the world. Winner: Binance.USĪlthough Binance.US has never been hacked, its parent company has been. Both platforms are well designed from a UI/UX perspective, but Binance.US has a slight edge due to its minimalistic approach. Binance.US is a slimmed-down version of Binance and has only implemented the essential features such as trading and earning. Gemini is a much larger platform than Binance.US as it incorporates a lot of features for traders at all levels. Compare this with Binance.US, which builds and maintains a popular non-custodial wallet that can be used to store cryptocurrencies and access dApps on the Binance blockchain. Others: None (for 10 withdrawals and below per month)īank transfer (ACH), Cryptocurrency, Debit card, Wire transfer, Apple Payīank transfer (ACH), Cryptocurrency, Debit card, PayPal, Apple Pay, Google Pay, SWIFTĪlthough Gemini has a mobile application to access its systems, it doesn’t have a proprietary non-custodial wallet. Wire transfer: $10-15 (minimum $100 withdrawal)Ĭryptocurrency: None (for 10 withdrawals and below per month) Paypal: 2.50% of total deposit amount + Trading Feesīank transfer: None (minimum $1 withdrawal) ![]() ![]()
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