Cryptocurrency isn’t new, it’s been around for a while and Bitcoin is clearly the king of them all. If you’re not into that currency but still want to get into the game, check out ripple, the cryptocurrency backed by money.
This currency is a token currency and is backed by cash. It was developed as a way to transfer money quickly between different countries which is one of the problems that Bitcoin is meant to solve as well. Although ripple acts just as any other cryptocurrency, unlike Bitcoin whose value is based on itself, ripple’s value is based on actual money.
Ultimately this is just one more cryptocurrency to add to the pile. It will be interesting to watch and see how this one goes now that Bitcoin has seen a fairly large drop. Will people buy in? Will this be labeled a fad and finally end? We don’t yet but you can buy ripple on Coinbase if you’re interested in taking a chance.