The change of events we are going to experience in the cryptocurrency world is that people will want to know more about a coin in relation to their local currency. Something like xrp price aud or ripple price USD, Yen, or xrp price CAD.
Reason being experts predict ripple has a higher potential to dominate the currency world at country levels more than Bitcoin representing the big-name cryptos and Stellar representing the least valued digital currencies.
However, one of the prime advantages that the xrp (ripple’s token) has over other cryptos, is that it has found amazing acceptance from banks worldwide. Four and a half months ago LianLian joined hands with ripple, a leading financial institution in China. Something that happened weeks after the xrp dropped from its all-time high of $3.84.
Will the XRP Replace Local Currencies?
Source: coinspectator filled under xrp price aud
Most likely yes, and that’s not a blind guess. As stated earlier close to 100 banks have adapted ripple to be their mode of sending cash internationally. The whole process works on a blockchain concept where the amount of investment being sent is transferred on a safe network which alerts all stakeholders at a blink.
That is to say instead of sending, let’s say the amount in USD, AUD or any other permitted currency from one bank to another, the financial institution can link with ripple, and have the amount changed to xrp (the digital currency) then sent the money to the receipt in a fraction of a minute.
In other words, instead of having to wait for the usual 3-7 days to receive money internationally these digital currencies cut the wait time to mere minutes. Some experts view this as the main reason why cryptos may soon become the world’s mode of exchange.
Why International Transactions Take Days
Security, security, security. That can’t be stressed enough. Transferring money overseas in today’s world has become risky than never before. The concept of digital currencies that use the blockchain technology (Bitcoin, Ripple) seems to invest more in security, and the reason why banks welcome it.
This means you’ll just have to know the xrp price aud amount in case you live in Australia, allow your amount to be converted to the coinciding amount in xrp value and send over the cash. If online your recipient and everybody in your network should know that a transaction involving a certain asset has taken place.
Another reason international transaction delay is because the process is partly human monitored. There is that role automation plays, and that which tellers or bank workers play. Machines will take less than a minute to effect the transfer, which tells you the remaining 4319 to 10079 minutes (ideally 3-7 days) gets consumed by the receiving bank as it tries to confirm the cash source etc.
On the other hand, ripple through its xrp blockchain technology promises both security and speed. From the youtube video on how ripple works, the token gets transferred from one user to the next at the glare of everybody concerned in the network, in under 5 minutes.
Video source: youtube
Converting Your AUD to XRP Coins
You may want to know how your Australian dollar relates with ripple xrp for various reasons. Maybe you want to invest in ripple as crypto to make money or just use the token as a mode to send cash instantly. Talking of buying xrp as an investment, you again want to catch up with its fluctuation rates just to ensure you are not buying the coin during its delicate times.
This you can know by studying charts and graphs and live infographics by the hour or by day to know exactly when to grab your coins. Otherwise you might have to cry behind the toilet door. However, this doesn’t have to be a surprise because by now we all know no cryptocurrency is that stable enough not to fall prey to fluctuations.
Now, let’s get to the figures you may have to encounter if you were to play trade with your hard earned cash, taking an example with the AUD against the XRP. The token currently stands at A$0.8094 and has a market capital of A$31,717,561,551. Worth mentioning also is that xrp has trading volume of A$333,260,012 currently, so convert that to xrp price aud.
The AUD stands at 0.76 against 1USD, converting this to know how much value of the xrp you’d have from one AUD is the point here. Which in essence is AUD0.76 x A$0.8094 = A$0.615144. For preciseness with our calculations, it means a single Australian dollar is 0.24 less the USD.
Investing in Cryptocurrencies
video source: youtube
Over 90 percent of people, when they hear about cryptos tend to connect it with how they can gain more money after investing a little amount. Well, that’s exactly why there are these buzz and excitement inside the crypto world. As in, everybody wants to get rich as fast as possible…
Well, there is no denying that that is very possible because people have done so. For instance, I have this friend supervisor of a metal fabrication company who decided to get into the game. He showed me graphs and other material sent to him by a successful Bitcoin trader and miner and boy, he’s really thrilled by the whole idea.
Top on that, a day or two during the time of this writing a link on Facebook announced that they’ve launched a Bitcoin ATM in Kenya. Search for “Bitcoin in Kenya” you’ll be taken to that article by CNN. What this ideally means is that third-world counties are racing up to join the cryptocurrency concept at the local level.
Talking of this in an Australian set up it means besides Bitcoin ATM’s which most likely you’ll bump into not only on big cities but also somewhere 100 meters in rural cities in a few years to come, we can expect to see ripple xrp ATMs. Where you can buy the token using your AUD, then sell it when the price looks appealing.
How to Buy XRP
To be precise this exclusively depends upon the country one is. For example people from Asia which is where ripple is more dominant over other cryptos (Bitcoin included), one may prefer buying the token via a local website or via the national platforms like Binance, Pholoniex, and Bittrex, which charge a service fee of 0.5%, 0.15% and 0.25 respectively.
Talking of local vendors, there’s a good example spotted over the internet, where a vendor has set up a ripple wallet in Kenya (in form of a website) where users can sign up, see the price of ripple in their local currency (KES) then buy the coins online. If you are trading in AUD you should also easily sport such a service right within your locality.
The reason why it’s safe to deal with a local vendor is that at least you have the location address where you can trace down the website owner and question them. With international cryptocurrency vendors, no one can really have that assurance because you might have to board a plane if the operator proves tricky.
It’s also worth noting buying the xrp token might involve brokers at often times (according to a BBC article) which ideally makes the process a little longer. The idea is, you’d want to first buy a small amount of the asset if you are not sure of the platform’s credibility then increase the amount later when you know you are dealing with the right people.
When Should You Sell or Convert Your XRP to AUD for Better Profits?
Our figures at the current state show the xrp token values at AUD 0.61484 or $0.809. That is slightly below a buck and you don’t want to sell your coins at this juncture. When then do you sell your coins? Sounds like a common sense type of question but not that common:
As stated above all cryptos are volatile and the reason we are focusing on ripple is that it’s more stable than others, looking at its fluctuations rates. In case you’ve not grasped that, this is what it means. Some four, five or so months before, you could not buy a Bitcoin if you didn’t have $1900+ as capital. The crypto was really hotcake and most folks took the advantage to sell their currencies.
But here’s the enigma. A good percent of (call them slow thinkers instead of fools) and the over-ambitious investors feared selling their coins hopping the crypto will hike in value even farther. Unfortunately, the opposite happened because two weeks after January Bitcoin started tumbling down like a stone.
Borrowing from that case scenario it’s safe to say: be smart and sell your xrp coins or have them converted to your local currency (AUD, KES, USD or Yen) as soon as you think it’ll make you double or triple the amount your first invested. Otherwise you’ll have yourself to blame.
Another case scenario and also a good example is when the xrp token rose to $3.48, then to $3.84 (convert that to AUD) and maybe you had some coins which you’d bought for $0.1888 or something around that. So at the time selling the coins at that quoted example would have made you a profit 4x or 5x the amount of cash you bought the coins for.
Does this Means Selling Your Coins Immediately You See a Spike up in Ripple Charts or Graphs?
Definitely not. Here’s the logic (to be as thorough as possible,) as crypto investors it’s good to understand you don’t have to run after the ups and downs seen on ripple graphs and daily live charts. You can always overlook the hard times (periods when the token is low) but also when the xrp value seems better and just wait for the opportune time when it is extremely profitable to dispose of your coins.
As in, one needs to have shock absorbers and resilience to make the high returns that everybody is salivating for. As obvious, the investor in you needs to catch over graphs and charts, not to mention news, to ensure the currency is still on the roll. In case you are a new investor, you don’t want to go for something that’s on a downward spiral in terms of market worth.
What Exactly is the Right Time to Sell Away Your XRP Coins?
Video source: youtube
The answer to this question needs to be based on factors like, what profit margin did you intend to make when you first decided to dive into the trade. Okay, there are those of us who trade cryptos live by observing the graph. That is, they throw in some cash when the XRP, Bitcoin or Ethereum value falls then convert their profit back as earnings leaving the operating capital in whatever crypto wallet they are using.
If you are not a pro definitely that method of trading with cryptos might scare you or even render you bankrupt, losing your cash to trade systems. But for beginners or people who understant a thing about xrp price aud rates or want to reduce their chances of losing as low as possible, it’s obvious that the below approach would work best.
And the idea we are talking about here is, what’s mention above. Which is, waiting for all-time-highs or something close to, when the graph is promising enough then you dispose of off the coins. The arithmetic understanding of that can be, selling your coins when the xrp hits AUD 2.50. Because looking at its market fluctuations, you are very sure that it hardly makes to that high. Question on when to sell your crypto perfectly answered, right? Hope so.
Looking at Some Facts like XRP Price Aud in Local Conversion Is this the Safest Cryptocurrency to invest in?
The only thing that gives ripple a leg up as a cryptocurrency is the fact that banks are adopting it at an interesting rate. Bitcoin and Ethereum are the leading virtual currencies in value but their mistrust is brought by the fact that they have suffered extreme fluctuations to be trusted. Like for example if a coin is AUD 1000 it can drop to AUD 600 within a single month and that’s not safe to financial institutions.
However with ripple, the fluxes rate mostly come in zero point something cents making it much stable. For the question of whether the xrp crypto is the best to invest in compared to other digital currencies, again, it depends exclusively on what one wants. If you are running after profit making then it means you are into crypto selling and buying to make returns and you should target the currencies with huge price fluctuations.
Go for the currency that can make you at least $5, or AUD 10 (talking in local terms) and not something that will make a 0.001 profit after months of waiting. That, however, doesn’t mean you cannot invest in the low valued cryptos like stellar, Binace and the likes, off cause you can, but you’ll need to put more cash in terms of amount to make any good investment returns.
So going with the xrp’s gear as currently is, it means you’ll need some let’s say $200+ which will give you 200 x 0.8094 to give you A$168. 88 xrp coins. With the same mathematics, it means throwing in some AUD 1000 (for example) will give you A$809.4. It’s that simple and you don’t have to be a genius to understand these things.
Now, here’s the motivating part. Assume you have some let’s just pick the above-mentioned amount, A$809.4 and the xrp price aud is 2.40. Selling the coins will earn you AUD 1942.56, minus the operating capital, you’ll be talking about an AUD1133.16 profit which is a whopping 100% + as returns from your investment.
But it’s Risky
What most folks fail to remember is that no digital currency is a guaranteed investment or even 100 percent safe to dive into. As a matter of facts, some people have had their darkest experiences from thinking they’ll make the huge amounts alleged in the whole concept.
What enthusiasts need to do is research before taking the thought of mining cash from these digital currencies as anything to go for. Experts, however, have been open enough to caution users when things seem unstable and so for. One should look around the internet regularly on resources that point to ripple price prediction before just diving into the ocean thinking the waters will make them rich instantly.
The truth is the waters might as well drown everybody. Just to ensure you are safe at least take time to watch and read topics like:
- XRP price prediction 2018 December
- XRP price prediction December 2018
- AUD/XRP price prediction September 2018
- AUD/XRP price prediction 2020, January, April, August, November and so on…
- AUD/XRP price prediction 2031, 2035, 2045 and 2050 December …
- Ripple price prediction 2070
- Or at least ripple price prediction 2019
You can change the ‘AUD’ with your local currency, to be something like USD/XRP price prediction 20(something, 2021, 2023 etc.) The reason why catching up with content that talks about the xrp price aud prediction is that you get to understand factors that emerge or come into play and those might affect the overall trend of things in the crypto world or the individual currency you are interested in.
For example, we already have 70 plus banks hooked up with ripple recently. That in logic means the xrp as a token is gaining trust because the association promises some kind of market stability. Now, here’s the catch, an up surge of more banks or financial institutions venture to join the ripple network, like how Lianlian and UAE Exchange announced their partnership with ripple some 4 months ago, the xrp is literally gaining more market trust.