Bitcoin and Ethereum are two famous virtual coins used to send and receive money online in decentralised settings, spanning a tremendous market cap and investment valuation. However, businesses and individuals are increasingly using Ripple as a reliable alternative to conduct crypto payments.
XRP coin is designed for those who prefer fast transfers with little value fluctuations, such as e-commerce merchants and online stores, who offer their customers a wide range of payment methods.
So, what makes XRP better than BTC? And how can you add Ripple payments to your website? Let’s explain.
Ripple Overview
The Ripple Labs created a new online payment system that overcomes the challenges facing blockchain at the time. XRP was launched in 2012, around the time Bitcoin and Ethereum were created, making an old-school virtual coin that still makes the top 10 list today.
Transacting and owning Ripple does not entail mining because XRP coins are pre-mined, which makes XRP payments faster and more affordable. Over the years, Ripple built ties with traditional financial institutions to facilitate fiat-crypto transactions across various foreign currencies seamlessly.
Should You Use Ripple Over Bitcoin?
Crypto investors would easily choose BTC over most currencies. However, if you want to indulge in the crypto space to receive payouts with higher flexibility and benefit from a multifunctional decentralised ecosystem, then Ripple is the one for you. This coin is distinguished by the following features.
- Global reach driven by sustainable relationships with centralised banks and traditional financial institutions.
- No mining is needed, which decreases power consumption and makes XRP transactions more eco-friendly than BTC, for instance.
- Adopting advanced security features, including an 80% consensus method, which requires majority approval to process operations.
- Outstanding processing capability that is able to confirm payments within 6 seconds and handle 3,400 transactions per second.
How to Integrate Ripple Payments?
Adding an XRP payment solution can be managed with a crypto payment provider, which uses advanced technology to equip you with Ripple wallets. Here’s how you can get started.
- Review the payment provider’s service quality and testimonials before deciding on the right operator.
- Select the range of supported crypto coins and tokens, including Ripple, to start transacting.
- Sign up on the chosen provider’s website and receive your unique API credentials.
- Integrate the received keys into your API documentation and code structure to connect XRP transfers with your merchant account.
- Adjust your payment gateway and website interface to prompt customers to use XRP payments for crypto transactions.
Conclusion
Ripple uses an open-source blockchain with a sophisticated ecosystem that makes transactions faster, safer and less costly. This has driven many businesses to adopt XRP wallets as a powerful solution to receive payouts at low fees and add more flexibility to the user’s options.
