How our Ripple calculator works
Calculating the world currency price of Ripple is slightly more complicated than calculating the conversion price of Bitcoin or Ether. This is because you cannot use a debit card, credit card or bank account directly with Ripple. Tis means you will need to exchange your Ripple to Bitcoin (or Ether or Litcoin) and from there to cash.
Therefore, the calculator needs to take account of the trading price between cryptocurrencies before then looking to the exchange rate between this other token and world currencies. Once converted to this other currency, the calculation to work out your cash conversion price is simple:
value in USD = exchange rate x amount of Bitcoin/ Ethereum/ Litecoin.
The Ripple calculator uses the most relevant information in real-time to workout your Ripple conversion rate. The prices are pulled in from exchanges rates that are up-to-the-moment accurate. We work to make our Ripple Convertor the most accurate you will find.
To find out how much it would cost to purchase a set amount of Ripple, enter the amount you would like to buy. The same is true in reverse. To use our Ripple calculator to work out how much your Ripple are worth – simply enter the number of Ripple you possess.
What does converting Ripple mean?
Ripple cannot be directly converted to a world currency – or a fiat currency, as they are known. A fiat currency basically means any asset that is backed by a world government or bank, such as the dollar, the pound or the Euro. This means using a Ripple convertor mechanism is not as simple as merely buying or selling. You will need to convert your token/ money to another cryptocurrency before then buying or selling. This sounds a lot more complicated than it really is.
In fact, there are some exchanges online that do the leap between Ripple and Cash without you ever knowing about the intermediate step.
It isn’t surprising that the easiest cryptocurrency to use with Ripple is Bitcoin. This is because Ripple is meant to be a mechanism for improving the scalability and transfer rates of Bitcoin.
How can you convert your Ripple?
The simplest means of converting your Ripple to money is to go to an exchange site and to place a cash out request. This means that once your Ripple is safely stored as Bitcoin or Ether or Litecoin you state how many of these altcoins you want to exchange for world currency. This will then be sent to the bank or card that you have set up with the exchange site or other payment processors such as PayPal. From there the exchange site will confirm your order – request information such as your unique wallet address or bank details. You will then receive your cash to your nominated account. It really is that simple.
When you are choosing your exchange site to act as your Ripple converter, you need to consider a number of factors. You need to consider the level of security and liquidity that is available on that exchange site. After the hacking of some exchange sites, there has been a heightened paranoia about how and where to store your digital assets.
When looking for your exchange site you need to look to see a) how much of the site’s digital asset is stored in cold storage (offline and out of the reach of hackers and b) what regulation the site upholds to win your hard-earned trust. A lot of American exchange companies are regulated by the state financial organisations, for instance. This means that you can be sure that your cash is safe. However, liquidity is also important. If a lot of digital assets are stored offline will there be enough assets available to honour your transaction?
You can also use a Ripple converter. This is where you use a Ripple calculator and rather than just using the information for decision making – you act on the price and ask to convert the Ripple into an alternative currency. This is by far the simplest way to convert your Ripple – but likely means you are accessing the services of an exchange somewhere along the way.
When should you convert your Ripple?
You are likely to convert Ripple to cash more than any other cryptocurrency. This is because Ripple is meant as a mechanism for transferring currency across international borders. It is a real-time gross settlement service (RTGS) also known as the Ripple Transaction Protocol (RTXP). The point of the platform is the speed and cost of transferring funds – something that has been a real problem with Bitcoin.
However, because Ripple has an industrial value beyond its value as a currency, this makes Ripple an investment much more than a way of storing assets. This means that the question: when should you convert your Ripple? is made a little more complicated. The answer is: it all depends. What it depends on is whether the news out of Ripple – about its links to major banks – is true or not. If true then the value of Ripple is likely to rise or stay high and therefore converting to Ripple is a good idea.
All this is speculative. The choice to convert to Ripple should be done after much research and understanding of the cryptocurrency ecosystem. The best advice is to stay up to date with the latest information on value and price. Using the Ripple calculator will give you real-time information about the world currency you can expect to receive for your Ripple and vice versa. It is then possible to action this price almost immediately – thanks to the speed of transaction offered by Ripple.