Three Reason why Amazon should adopt Ripple
As we all about the recent craze, Ripple (XRP) has generated across the world. And it has been also adopted by the seventy-five of world’s largest banks, remittance services and other financial institutions.
It clearly depicts that Ripple is already being used by numerous business giants across the world which means the Amazon might choose to go for it as well. Written below are the three reasons why Ripple is a good match for the Amazon and why most of the e-commerce giants must adopt Ripple (XRP) along with Amazon in 2018.
Easy and Cheap Transactions
The cryptocurrencies faces a lot of fluctuations with time upto time which makes a luck factor for the investors but that’s not the concern of Amazon. This is also the reason for the discontinuation of accepting Bitcoins in Steam even though Bitcoin was performing well and reached a peak amount of growth within a small proportion of time.
The e-commerce giant, Amazon won’t even try to become a amateur investor of cryptocurrency. The only that it will make is start accepting alt coins that would be momentous and against inertia. This innovative project will require and stall amount of solidity.
The Steam quit Bitcoin because of some factors including high fees and volatility of the Bitcoin. Though they made a decent amount of profit during that time but with a slow speed indeed and in a high fees which made the companies like Steam unsettled.
If we compare the performance and features of Ripple and Bitcoin, Ripple is way more faster and cheaper. The average transaction time for the Ripple is ten seconds which is ten times less than the average time of the transaction that Bitcoin takes up to ten minutes. And also for each transaction, the Ripple needs one XRP which is even less than one penny making it incredibly cheaper than the Bitcoin.
These extraordinary features of Ripple beats our Bitcoin off the chart and rules over it.
The other privilege that Ripple has over Bitcoin is its huge supply which makes the volatility of Ripple incredibly low.
Other scarcity of Bitcoin is that it can be mined only upto twenty one million which makes it a non renewable resource and reducing its supply upto a great extent. The supply of Ripple comparatively will be way more higher as it’s been already mined. There are hundreds of billions of XRP tokens available across the world out of which fifty-five are those held in escrow by Ripple Labs.
The limited quantity of mining of bitcoins is a huge drawback as a cryptocurrency industry for them as it means that the price is maximum and it can’t be rised above of that. And it can’t even reach a higher state of stability. As the demand from the public is raising day by day along with the numerous amount of investors the value of XRP along with other cryptocurrencies will rise as well.
But as the prices rises soon enough after sometime it will drop down to the right Value according to the market’s equilibrium and all the prices will be stable. It’s just about the properties of Inertia as the hundred billion units of XRP will much more difficult to affect than the twenty million units of Bitcoin.
This stability is all Amazon needs for now as if they add one cryptocurrency as a method of their payment and unfortunately the cryptocurrency faces any fluctuations at that time it would be extremely confusing for the customers as when they might have added a product in the cart, the prices would have been drastically changed when they are about to check out.
This not even confuses the customers but also impairs the ability of Amazon to match prices. The Amazon is said to be one of the most big e-commerce sites in the world so it would never choose any cryptocurrency which would fluctuate like that and ruin their image in the market.
The fluctuations of Ripple are quite low as of now as there has been the huge amount of money being circulated across the market which will be able to withstand the fluctuations more than enough to make XRP worthy to be used in real life.
Recently, Ripple has grown up to seventy five cents so far and has dropped to $0.61 just within last 24 hours it’s definitely slow but steady.
This is a much more of a far cry that we’ve recently in most other cryptocurrencies. Once the Coinbase approves of the availability of Ripple and most other big exchanges as well it will become as stable as any other Fiat currency in the market.
People aren’t afraid of Low Prices
The value of Bitcoin is huge in the market, currently, it is $7,600 but the fact is it was $8,000 just a couple of days ago. The price of Bitcoin is rising day by day and it will be difficult for the general public to even afford a single bitcoin. Even it is predicted by. John McAfee the price will rise upto a million dollars in the coming years. This makes the price of bitcoin too high to be afforded.
And the problem lies here as the price is too high in case of bitcoin whereas the price of XRP coins will be considerably low as there is a huge supply of coins across the world. The price of XRP will be comparatively really manageable and affordable by the general public.
The fact of its stability and lower price might attract Amazon as they will want a cryptocurrency which could be trusted by the customers not such which will scare away their customers. The following factors including stability and low transaction fees are extremely important for Amazon.
If the situation is looked upon by an expert, crypto enthusiasts or a physicist the prices will look same if something costs 0.0005 BTC or 50,000 Satoshis or 5 XRP.
But it becomes extremely difficult and confusing for a normal person to know the exact difference between all these and understanding that the prices of all the cryptocurrencies are manageable and close to the everyday experiences. That is what required to Amazon and the other e-commerce websites as well.
Also, recently there’s a news about the Ripple Lab’s Team Member where last weekend in a video he pinpointed some of the drawbacks and issues faced by Amazon in case of Cross border payments.
In the video, it was stated about the payment exchange of merchants in the interface of Amazon. The video clearly depicted that Ripple is willing to provide a helping hand to Amazon regarding the cross border payments. And there’s a huge possibility of seeing Ripple implementing Amazon pretty soon.
Ripple’s presence in Financial World
As mentioned earlier seventh five of the world’s largest financial institutions including Banks, Hedge funds, American Express are already implementing Ripple’s technology in their Interface which is infact rare in case of the crypto world indeed.
With the adoption of Ripple in more and more e-commerce websites, it doesn’t gurantee about the Ripple’s XRP tokens because the transactional fees are to be paid by using the XRP coins. This clearly depicts that even if there is the hazardous rise in demand of Ripple the prices won’t be raised suddenly. The raise in the price will be slow and steady making it the most stable cryptocurrency in the market.
Ripple and already break down in the market and many of the companies are using the blockchain technology. And it is persuading more and more business giants with time. It is expected that Ripple will be back off many companies and giants this year and Amazon could be one of them.
Ripple is of no doubt the best cryptocurrency that can provide everything that Amazon requires to have in its interface. As many of the banks and Giants across the world are already trusting upon the XRP coins. But it’s difficult to say when as Jeff Bezos hasn’t made any official announcement or initiation till now.
Disclaimer : The intention of this article is only to provide knowledge and study about the reports. Therefore it shouldn’t be taken as any investment advice. The user is advised to do his or her own research before investing in any of the cryptocurrencies.