Tirades, Welcome to Charlotte, Things to do, Buying/Selling, and Charity are all weekly topics. I just wanted to post some thoughts here. Not necessarily to get opinions, but more just to get them off my chest. Hopefully this resonates with a few people out there. Create your account and connect with a world of communities.
My thoughts on XRP, Ripple, and price
When holding funds in an exchange, what you basically have is an IOU (I owe you) from the exchange, which on a normal day to day basis is good and valid. However, were the exchange to be hacked and have their wallets emptied, you would be left with nothing. Also, were the exchange to simply go bankrupt, you would also be shit out of luck. In general, a good rule of thumb is to only keep what you need for daily trading on an exchange. Your holdings on an exchange are on so called hosted wallets. While the XRP is held in the exchange’s wallet, the amount you have on your exchange is there and designated to you.
Don’t store it in plain text files on your PC, at the very least open it in Word and save the file as encrypted with a strong password. For more advanced encryption solutions, do a bit of googleing and find an appropriate solution, such as a FIPS approved encrypted USB drive. Think of your Secret Key as a password and signature.
- Before a Ripple wallet can be used it must be activated, activation happens when 20XRP is deposited into the wallet address.
- These two randomly generated lines of text are all you need in order to have a Ripple Wallet and make transactions on the XRP Blockchain.
- Now I can hear the murmur from the crowd already, or at least from the vocal minority.
- In general, a good rule of thumb is to only keep what you need for daily trading on an exchange.
- When transferring funds from your Ripple Wallet, the XRP Ledger will require proof of ownership before allowing funds to be reduced from the wallet.
Why do people still invest in XRP?
Some background – I bought XRP way back in early 2017 at just over 1c. I’ve been in and out a fair bit, some gains, some epic losses (like right now having bought back in at 67c). After all the ups and down, my holdings are basically as if I bought back in early 2017 and just held (which is thought-provoking), so I can’t complain, the gains are still phenomenal. A few days after creating my account, I received an email from RippleMatch explaining that I was being fast tracked to an interview for an internship.
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today. What a Ripple Wallet basically boils down to is two lines of text, a wallet address and a secret key. These two randomly generated lines of text are all you need in order to have a Ripple Wallet and make transactions on the XRP Blockchain. A ripple wallet can be generated in different ways, in general they are created by what ever wallet solution you end up using.
When a transaction is made, the ledger simply reduces funds from one address and increases funds to the receiving address. Before a Ripple wallet can be used it must be activated, activation happens when 20XRP is deposited into the wallet address. That 20XRP will, until further notice, be kept in the wallet as a reserve, there is currently no way of getting that 20XRP out. However, the reserve used to 50XRP and will be adjusted in accordance to the value of XRP. The reserve is there to stop hackers from creating multiple wallets and spamming the network with malicious intent. For this reason you should try to avoid creating multiple wallets and instead import existing wallets if you’re trying out different wallet apps.
- You can check out this random address on a ripple explorer.
- So what better place to put your money then in a coin that works with that system.
- Hopefully this resonates with a few people out there.
- Think of your Secret Key as a password and signature.
- A ripple wallet can be generated in different ways, in general they are created by what ever wallet solution you end up using.
- And you can’t entirely blame that on the SEC case, even without it I don’t think it would’ve gone much higher as payment solutions was not a narrative that got much attention that cycle..
Beginner’s Guide to XRP Wallets
It matched me up with job openings that I was qualified for and interested in. Your secret key can never be changed or customised1. If someone has your Secret Key and your Wallet Address your funds can be emptied in an irreversible way.
If you want to limit the exposure of the secret key to a device you can go to Toast Wallet’s browser version, open it in incognito mode and perform your transactions with that. When you close the incognito session it will automatic delete all references to the wallet on the computer. Do you sell now and risk this being the bottom, then you end up getting back in at a higher price? Do you buy more and risk it going lower still? It has been an under performer since the high in the 2017 bull run, since then it hasn’t been able to make new highs. The btc/xrp chart is literally down on Btc after 10 years, ripple labs is known to continuously unload tokens onto the market keeping the price down.
Does anyone have experience with Ripple Pods?
When transferring funds from your Ripple Wallet, the XRP Ledger will require proof of ownership before allowing funds to be reduced from ripple highest price ever the wallet. Ripple Fiber is listed on the FCC broadband map as being at the new residence. I reallllly do not want to go to a company like Spectrum, especially after years of GF where it was so simple. A subreddit for Charlotte, North Carolina. Where residents and visitors alike can share news, events, gatherings, stories, and more.
All I can say is that the reasons I got into XRP last year still hold. My advice – if you want to hold onto your XRP for the longer term, then try not to focus too much on the current price. Don’t feed the volatility by trying to buy-sell-buy-sell every time the price changes. Maybe all that buying and selling will just get you back to where you started, but with a whole lot of extra stress in your life. The internship would be during the Fall semester, where I would be working 5-7 hours a week depending on my schedule.
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No one knows the bottom, no one knows the top. Not in the short term, not in the long term. Back then, just like now, I bought because I liked that they were working WITH banks, WITH regulation, WITH the system, not against it like Bitcoin and others.
When you transfer funds into an exchange you will see a wallet address and a deposit tag, that deposit tag is your unique identifier. I don’t get it, it’s never a good sign when a coin can’t break its previous highs in a bull run. And you can’t entirely blame that on the SEC case, even without it I don’t think it would’ve gone much higher as payment solutions was not a narrative that got much attention that cycle..
My thoughts on XRP, Ripple, and price
So what better place to put your money then in a coin that works with that system. 1 – turns out a secret key can be changed but is a very advanced method. If you are going to print it, make sure you keep it in a safe place and that the key doesn’t imply its purpose in any way (ie. no mentions of ripple or XRP on it).