The key difference between Ripple and Tether
Mind the following information if you’ve decided to change XRP to USDT. XRP is the cryptocurrency that fuels that Ripple network. This project was initially designed for banks to speed up the international money transfer. With Ripple, you can send money overseas in a matter of a few seconds and the fee that you will pay will be much lower compared to those charged by centralized financial companies such as Western Union. If you want to convert Ripple to Tether, Remember that the biggest part of XRP coins still belongs to the issuing company that can put a big bunch of these coins to the public sale and thus decrease its price in a second. The cryptocurrency volatility is a big issue for those who want to use it as usual means of payment, and this is where Tether can help.
Tether or USDT is a stable coin with the constant rate that is always equal to 1 USD. And although even its price can fluctuate as well, it never drops or rises more than by 10%. This coin can be of a good assistance in the times of the market downtrend, because it allows you to keep your investing stable and this is where you may want to convert XRP to USDT.
How is XRP produced?
If you want to change USDT to XRP remember that XRP cannot be mined by usual people of by huge companies. It is simply issued and controlled by the company that stands behind it. The whole supply of XRP coins has already been pre-mined and now the company launches its supply part by part into the market. Ripple is pretty centralized unlike most of all the cryptocurrencies, but the main purpose behind creating this currency was to help centralized institutions such as banks that cannot rely on the decentralized network and have to be in control of their funds.
What is Tether mining algorithm?
Converting Ripple to Tether will not help you get closer to decentralization either. USDT is issued by a single company and 1 USDT is backed by 1 dollar invested into this company. It’s not possible to mine Tether on your own computer, too. And if you want to invest into this cryptocurrency, you can sell XRP for USDT on an exchange platform or buy Tether from the issuing company.
The circulating supply of Ripple equals to 42,566,596,173, while its maximum supply equals to 100,000,000,000.
For Tether, the circulating supply equals to 3,574,945,622, while its maximum supply equals to emission infinite.
If you want to exchange Tether to Ripple, the market capitalization is a very important index that you should pay attention to.
For Ripple, the current market capitalization equals to $18,220,684,429.00. Tether’s capitalization equals to $3,550,218,964.00.
Volume of transactions
During the last 24 hours, Ripple volume of transaction equals to $3,518,391,471.86. For Tether, this index equals to $41,634,698,335.86.