Ripple (XRP) is no longer just an altcoin. It’s fast becoming an institutionalized currency, even being legitimized by major financial institutions. It has also experienced a stunning rise in the past week. Its growth has been so strong that it is now the second most-valuable crypto-coin on the global market. Ethereum (ETH) is now in third place.
A lot of cryptocurrency watchers are speculating that it is only a matter of time until Ripple becomes further engrained into our economy. How much longer until this cryptocurrency is accepted on e-commerce platforms?
E-commerce giants are slowly – but surely – embracing cryptocurrency. Overstock.com, for example, has some pretty lofty blockchain-related goals. Its ambitious CEO says that they are working on accepting a number of crypto-coins as payment. They are also going to launch their own coin offering.
It seems like just a matter of weeks or months until we get another announcement. Another online retailer is going to make the decision to accept Bitcoin (BTC), Ripple (XRP) – or some other variety of crypto-coins. They may even launch their own.
The big question is: What will Amazon (AMZN) do? When will the biggest e-commerce player in the industry jump on the cryptocurrency bandwagon?
With XRP being the second-most valuable crypto-coin worldwide, it’s only logical to assume that Amazon will somehow incorporate it into its retail model. It may even be chosen over Bitcoin (BTC).
Here are a few reasons why Amazon might decide to go with Ripple (XRP) when it eventually embraces blockchain technology:
Big Banking Organizations Have Already Taken Up Ripple’s Technology
In November, Banco Santander (its UK arm) and American Express broke some huge news. The two banks have formed a cross-border partnership. They are developing a real-world payment system using Ripple’s blockchain technology.
Other banks have already, in some way, tested its platform. These banks include UBS, Unicredit and the Canadian Imperial Bank of Commerce.
It will be fascinating to see what the results of these developments are. Clearly, large financial institutions are taking this technology seriously.
Ripple’s Platform is Simply One of the Strongest
Compared to Bitcoin (BTC), XRP has some serious advantages. It can handle more transactions in a given period of time. Bitcoin’s transaction verification times are also notoriously delayed when set against its crypto peers. Ripple’s transaction verification speed is under ten seconds, a tiny fraction of Bitcoin’s.
XRP transactions are also way less expensive than BTC trades. They are just 0.0001 XRP. With more speed, efficiency, and cost-effectiveness, why would Amazon choose any other top-5 cryptocurrency?
Steam, the online gaming platform, actually stopped using Bitcoin for these very reasons.
Ripple Coins Are Cheaper, With a Much Larger Total Supply
Bitcoin’s total global supply is capped at 21 million. No more than that can ever be mined. While the limited supply means that the value and demand will be higher, the price volatility with Bitcoin is also elevated because of how many units are floating around in the world.
Ripple, on the other hand, has many more units of XRP on the market. The total supply is 100 billion coins. That means that each individual coin is cheap – a regular Joe can buy several and still have plenty left over. It is simply more accessible to average investors. To own a whole bitcoin, you have to shell out tens of thousands.
And because there are more Ripple coins on Earth, the trading pattern is less volatile. Major trading movements don’t rock the boat as much as they do with Bitcoin (BTC).
Ripple (XRP) Has Already Gone Mainstream, and Amazon Is Probably Coming Up Next
With so many major milestones achieved last year, this cryptocurrency can only go up. Ripple (XRP) is such a strong cryptocurrency asset at the moment, that it is only a matter of time until major e-commerce players begin to adopt its technology.
If the public starts embracing Ripple even more, Amazon won’t have a choice. Ripple is in the running to be the most popular and widely-used cryptocurrency on the global market.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.