Unforgettable Experience ~ The Explosive Profit Brought by Virtual Currency Ripple ~ [Oohira]
Mr. Ohira's Profile
FX experience since 2009, cryptocurrency experience since 2015. Utilizing cryptocurrency investment and past experiences, he distributes cryptocurrency information on major newsletters and investment sites. He participates in numerous individual investor networks and shares knowledge gained from many investors. Running a cryptocurrency investment information site that beginners can learn from since 2016.
Blog:The Future Potential of Cryptocurrencies – Investment Methods for Beginners to Earn
*This article is a reproduction and re-edit of an article from FX攻略.com January 2019 issue. Please note that the market information written in the text differs from the current market conditions.
A Grand International Remittance System
When people think of the cryptocurrency Ripple, it has become one of the very popular cryptocurrencies in Japan. Those who own Ripple or are Ripple supporters are also called "Ripplers." Its name has a cute impression and is popular among women as well.
Ripple basically uses blockchain technology in international bank transfers of existing financial institutions to achieve much lower fees (said to be one-tenth of traditional costs) and faster transfers. Ripple is actively working to replace the existing system (SWIFT) with the Ripple network to further improve convenience.
In October 2018, Ripple hosted the international conference "SWELL," where they announced a payment system among financial institutions using Ripple called "xRapid," drawing attention to the expansion of Ripple's transactions in the future.
In this way, Ripple has stood out among cryptocurrencies for its international initiatives. The first time I owned Ripple was in 2016. At that time, there was little cryptocurrency information online, and there was a more suspicious atmosphere toward cryptocurrency than today, making it difficult to obtain information.
Among cryptocurrencies, Ripple was the easiest to obtain information about, so I invested around 100,000 yen. As I investigated Ripple, there was concrete information online about its practical use for fast transfers, so I actually bought Ripple on Coincheck (a cryptocurrency exchange) and sent it to my personal wallet. Seeing the funds arrive quickly became a motivation for investing.
However, Ripple, since its release in 2013, rose to about 1 yen in late 2013, and for about two years stayed at around 0.5–0.7 yen. So I never imagined it would rise dramatically in such a situation, and I held onto it at around 0.6 yen (Chart ①).
