Comparing Ethereum and Ripple 

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You’re looking to invest in Ethereum or Ripple, but you don’t know which is better? If you want to know more about these coins, then this is the right article for you. Here, we consider both coins, then discuss how they’re traded and their differences.

 What Is Ripple (XRP)?

This coin was designed to make payments and has been dubbed one of the best crypto assets for this use globally. It gives financial institutions the option to have a fast and reliable source for liquidity and is able to complete transactions in a few seconds.

Differences with Other Cryptocurrencies

  • Uses: It powers innovative technologies in the worldwide payments space. It is faster, more scalable, and cheaper than many cryptocurrencies.
  • Processing speed: Payments take just an incredible four seconds.
  • Mining possibilities: You can’t mine XRP coins. Its developer team issued 100 billion XRPs at once, leaving about 2/3 for itself and distributing one-third to its users. As a result, additional emission of this coin is not possible, and mining is also not required for the normal operation of the system.

What Is Ethereum (ETH)?

This technology houses global payments, applications, and digital money. It is lucky to be among Bitcoin and other cryptos in terms of market capitalization.

Differences with Other Cryptocurrencies

  • Uses: ETH’s possibilities constantly grow, as it can be used for more than digital money. For example, you can convert your piece of art into non-fungible tokens (NFTs). You can also get a loan using a token.
  • Processing speed: It is a bit faster than Bitcoin and handles about 15 transactions every second.
  • Mining: Hardware mining is possible, as ETH works on Proof of Work.

Key Difference Between Ripple and Ethereum

  • Supply: There are more than 115.5 million ETH in circulation, and miners are rewarded with new coins regularly for maintaining the network. ETH’s quantity has a limited cap, and because it is decentralized, ETH issuance isn’t controlled by any authority. However, XRP is pre-mined with a 100-billion-token total supply, but just 45 billion is in circulation currently. Others are in escrow, and one billion tokens are released monthly for Ripple Labs.
  • Network: The Ethereum network processes about 15 transactions every second. Ethereum has an average transaction fee of $8.934, which is a massive increase from $0.1384 a year ago. The Ripple network processes transactions within four seconds and handles 1500 transactions every second.
  • Price history: People who invested early in both coins have enjoyed them the most. ETH traded for less than $10 early in 2017, and by January 2018, it went as high as $1400. XRP, in March 2017, also traded for less than $0.01, and after a good run rose up in early 2018 to $3.40.

How to Trade Ripple for Ethereum on Godex.io

Before trading these coins, you can check the XRP to ETH exchange calculator on Godex.io.

  • Select the coins you want and the one you’re exchanging in their appropriate fields.
  • Enter the wallet address where you’ll be receiving the XRP or ETH coins.
  • Send the coins you’re exchanging and wait a few minutes for your Ripple or Ethereum.

Final Chord

Ethereum and Ripple fulfill different roles in the crypto world. However, in comparing both, Ethereum is better at convenience and other fundamentals, while Ripple is better for transactions. This article also discusses how to exchange XRP for ETH on Godex.io, as well as the use of the exchange calculator.

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