I’m a newbie at this and am trying to do this first in my family to see if I can invest in Ripple for the long term. What steps would I need to do in order to invest in Ripple for long term investments?
Well, just buying and storing Ripple isn’t too hard, we have a guide for that here:
As for the long-term prospects of Ripple, well, that all depends on it being accepted by the banking industry. However, if you really believe in cryptocurrency, then you have to consider the possibility that it will displace the banking industry…
If you’re going to make a major long-term investment into this technology, you will really have to do your own research on the subject. Try to speak to people with a proven track record in cryptocurrency and in fintech. Personally, I would recommend betting on Bitcoin as well as Ripple, and perhaps one or two other major cryptos.
My opinion is that Ripple isn’t a cryptocurrency per se, due to its centralized nature. Its survival depends on becoming an integral part of the traditional centralized system. It’s possible but I’d prefer a decentralized monetary system, so Ripple isn’t something I would put my own money into.
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