What do you need to do to earn SPARKS tokens by investing in Ripple (XRP)?

Edito : Please note that to benefit from the Airdrop, you absolutely must do it before December 12, 2020. Otherwise, if it is too late for you, you can always earn Ripple or simply make them grow on sites like Youhodler.

Many people say (and this is the rumor going around at the moment) that the next people who are going to get rich are those who own XRP.

There are several estimates being made and some are even predicting that XRP could reach $1000. I don't want to shatter your dreams, but given the required market capitalization, this could certainly happen in decades (who knows) but really not in the years to come. This is very improbable mathematically. That said, if XRP reaches dollars, which is already much more realistic, then yes, some people will become rich (those who own it and those who will invest in it).

In fact, this enthusiasm for XRP comes from the announcement of Flare Network (I will develop this point later) with its aidrop some of the most insane ones that allow you to earn SPARKS.

First, let's start with a quick overview and a simple explanation of what XRP is.

What exactly are Ripple and XRP?

Before we begin, let's remember that Ripple and XRP are two different things even if we tend to conflate them.

In reality, Ripple designates and refers to the private company which designed and developed sophisticated blockchain technology which serves payment services. Several currencies are affected, including fiat currencies.

Then, there is the XRP which is also called the Ripple Token which is there, the token, the digital asset of Ripple. It is XRP which is then used on the Ripple network to carry out money transfers between different currencies. The protocol will first convert the relevant currency into XRP to carry out the transfers. This is how exchange fees are avoided and speed of transfers is made possible.

Many banks already work with Ripple and the most prestigious among them. We can cite MoneyGram, Bank of America and the banking giant Santander of Spain to name a few. Of course, the list is always growing.

 

 

 

What are the advantages of Ripple…?

So, there are a lot of things to say about XRP, because it is rather divisive. There are people who love it and who are 100% on board and there are people who are against it.

Moreover, few cryptocurrencies are as divisive…

Although I could do an analysis of it, I preferred to first give you a short overview of the context and what XRP is and above all show you how to earn it. We will be able to discuss in a future video, or perhaps in a live (seriously?) what it is and open the thorny Ripple debate.

You should know that XRP is a digital asset designed for payments, designed to be able to process operations extremely quickly, in 3-5 seconds.

Ripple was designed from the ground up to serve as the currency of a centralized payment system. Basically, it's a cryptocurrency that wants to be used in traditional banking systems. This is precisely where the problem comes from, actually. It's this particularity that makes some people "hate" Ripple. A bit like Judas, the traitor of cryptocurrencies.

In fact, from an objective point of view, this represents all its interest and at the same time what makes it the big problem.

Ripple has already shown us its effectiveness, however, and above all its interest among banking institutions. Almost every month, we are told that a new bank (and not the least) will use the Ripple protocol for its payments. We have already been able to brilliantly see and witness bank-to-bank transactions which were carried out very quickly with minimal fees.

A Ripple transfer is therefore executed in a few seconds. Can you imagine how amazing this is for the banks? We are so used to bank transfers taking 3-5 working days with significant fees...And here, a transaction in millions of dollars which is done in less than an hour...Even in the field of cryptocurrencies, it is very fast if we compare it to the minutes it takes to transferEthereum, or hours for a Bitcoin transfer.

The great particularity of XRP is that it is a token that is already pre-mined. It is therefore the opposite of bitcoin for example which is still mined every day.

It was a deliberate choice by the founders in fact because casually (yes, the pun!) there are advantages to token pre-mining.

Even more, for each transaction made, there is a commission created which will systematically destroy a quantity of XRP. Overall, the total number of tokens available will therefore gradually decrease in theory. What effect does this have? You have understood: the value of XRP will therefore rise if we follow the clear rules of inflation.

For example, the fact that the tokens were pre-mined was something that was taken very badly (and therefore even before the launch of this crypto). It is, in short, the antithesis of the creation of cryptocurrency. This goes against the strong principles of cryptocurrencies, which is that they are created by the community over time.

What are the differences between XRP and Bitcoin?

• Bitcoin is completely decentralized, completely public and aims to outsmart banks, whereas Ripple is controlled by a company that aims to work with banks. They are almost two opposite brothers, we want to say at first glance…

• Ripple's XRP cannot be mined. Instead, a limited amount of XRP was created and distributed by Ripple. With each transaction, a small amount of XRP is destroyed, decreasing the overall supply.

• Processing a transaction with Bitcoin can take from 10 minutes to more than an hour sometimes but it only takes 3_5 seconds for an exchange in XRP.

• XRP is capable of 1500 transactions per second, while Bitcoin's maximum is around 7 transactions per second…

• Transactions are also cheaper with XRP too

 

So, what is wrong with Ripple?

Even though I already quickly mentioned it in the first paragraph, Ripple has enemies. His main criticism? The fact that XRP is centralized…

The fact that there is a company in charge of Ripple makes it a bastard cryptocurrency, so to speak… The circulation is controlled and inevitably, we say that the prices/courses themselves will be controlled…

However, in absolute terms, the price of XRP is not technically dependent on the Ripple network. The price can only be manipulated if the company that owns large amounts plays on the markets as whales sometimes do in bitcoin.

This is the first and biggest criticism of Ripple. The other criticism stems from this, namely the fact that it is a cryptocurrency that “collaborates” with banks… While bitcoin for many was what was going to crack the banks… We are far from this image, very far indeed…

Why do banks and investors love Ripple?

Yes, aside from the criticisms, the fact remains that institutions are very interested in joining the Ripple project. And, not only institutional investors but also individual investors.

Indeed, the fact that it appears on the border between the cryptographic world and the world of banks makes it a very interesting crypto, in several respects.

In the optimistic view of things, this can greatly advance the international banking system. It may be the ideal bridge to simply advance banking. It is all finance that shows its approval of cryptocurrencies when it participates in Ripple. And if ultimately, this allows individuals to benefit from banking transactions while saving money, then why not, you might say?

If tomorrow you decide to send money with your bank, you would be happy to be offered lower fees, wouldn't you? I remind you in this regard that for international bank transfers, there are frais of issue which are to be paid by the issuer as well as reception costs, which are paid by the beneficiary. … On top of that, there are foreign exchange commission fees. It is often necessary to count between 0,09 and 0,12% of the amount transferred…. Not with Ripple!

Okay, now that we've taken a quick look at the subject of Ripple, it's time to know how to earn some.

What is Sparks Token Airdrop and how to earn it?

If you already own XRP, then you will be able to participate in the famous Aidrop. If you don't have one, don't worry, you can buy one and participate.

Now, let's take a closer look at what the Flare project is. In fact, the Flare project is an addition to Ripple by allowing users to use smart contracts with XRP. The Flare project therefore makes it possible to integrate Ethereum by simply adapting it to XRP. This allows this new network to be able to deploy existing Ethereum applications on Flare and allows the network to be fully integrated. For this new ecosystem to be operational, it was necessary to create a suitable token that would derive from XRP. This is why they made a "utility fork" which therefore gave birth to SPARK.

It is in fact the Sparks token which will be distributed at the beginning of 2021 via an airdrop and which will be distributed to everyone who has XRP.

How does it work in practice?

So, several exchanges have already announced that they will be compatible with this aidrop. In fact, most exchanges participate in airdrop like Binance, Kukoin, Youhodler, Nexo etc. You can check here the list of exchanges and wallets that will participate in the XRP airdrop.

—-> See the list here: https://flare.xyz/supporting-exchanges/…

Please note that there are 45 billion XRP in circulation. However, there will be a limited number of Spark tokens that will be created: 100 billion. So there will be 45 billion out of a total of 100 billion Sparks that will be given and distributed to those who own XRP.

How to participate in the SPARKS airdrop?

Nothing's easier. You simply need to own XRP and have it stored on compatible exchanges. Moreover, check the criteria according to your platform. For example, on Binance they will only consider those who have more than 10 XRP. This may vary from one platform to another.

Then, SPARKs tokens will be distributed at a ratio of 1:1. Basically, for one XRP, you will receive 1 FLR. For 100 XRP, you will receive 100.

The SPARK distribution will be taken into account starting on December 12th. The spark is only distributed to people who have an XRP balance at 00:00 GMT on 12/12/20 precisely. This is called the "snapshot". It is precisely on December 12th that we will note exactly the number of XRP you own at this precise moment. The aidrop will be spread over 25 to 34 months. And, it is indicated you will have 6 months to claim your SPARK.

Who is behind Flare Network and SPARKS tokens?

Currently, as you now know, the main function of XRP is to enable and facilitate cross-border payments and internal banking settlements. Ok, that's the goal of the Ripple company. That said, the SPARKs token has nothing to do with Ripple in fact….

The SPARK token actually depends on the new company Flare network. It is a distributed network that allows you to operate the Ethereum virtual machine.

To quickly explain it, Flare Network allows you to deploy and use Ethereum applications on Flare and make it integrated into decentralized finance.

Is it really worth having Spark token (FLR)?

Given the enthusiasm for this airdrop, we can assume that many people will participate, even if they don't. For what? Well, for the simple reason that many platforms participate in aidrop and there is nothing to do other than have XRP to receive Spark. So this will happen automatically for many XRP holders.

Then, the fact that many people will receive this token for free raises the question of its value when it is launched. And how this will influence its historical course…

The official Flare website indicates that there is no fixed value planned for this token. It will be the market supply which will determine its price. Likewise, it will already be listed by default on several platforms as a result of the aidrop, so this can make trading easier.

However, as is often the case with forks that we have seen in the past. Almost always, the price of the token that results from a fork is always lower than the token from which it was created. So, if spart will be lower than XRP, that means it won't be worth even half of half a dollar...(at the time of writing, )

That said, in absolute terms, Spart could ultimately have a place of choice. If it makes it possible to connect Ethereum and offer new possibilities to Decentralized finance, so yes, it could well have significant weight.

Ripple (XRP) Price Prediction 2020, 2025, 2030

Of course, we don't have a Crystal Ball to know exactly what's going to happen. However, many people have made their estimates on the prices of XRP.

First, let's remember that XRP is still (even without the Airdrop effect), in third place in terms of market capitalization, after bitcoin and Ethereum.

Besides, when you think about it, it’s pretty crazy that the price of XRP is so low compared to the other two behemoths…

So, should you buy XRP? The current price of XRP is very affordable and it would make sense to invest if you think the price will rise.

. Let's take a look at the evidence for Ripple price history and future XRP price predictions from crypto exchanges and experts.

Ripple (XRP) price analysis since launch

If we want to understand the future predictions and estimates of the price of XRP, then we need to see the performance of the cryptocurrency until today…

The Ripple payment protocol and the digital token XRP have existed since the year 2012. The XRP token came to the market with a value of approximately $0,06. And the more Ripple made increasingly notorious partnerships with banks, the more the price of XRP increased in value, logically. Since 2014, the price of XRP has increased, although it still remains very affordable as an investment asset.

XRP has come to a maximum of 100 billion tokens. Compare to Bitcoin, which has a maximum supply of 21 million coins…. Can we draw a parallel? Maybe.

At that time, for many people, we said to ourselves that XRP was going to be the cryptocurrency that would normalize cryptocurrencies.

The first big price spike appeared in May 2017, and there XRP was worth $0,34. The increase in the value of XRP was linked to Ripple's move into emerging Asian markets. At that time, Ripple announced its installation in Singapore and Mumbai.

What were the big peaks of XRP? After surpassing the $1 threshold, XRP ended the year at $2,30, a whopping 38% increase from its price at the start of 2017. The bull run continued into the first week of January 2018 , when prices reached $3,40 – the all-time high for XRP that has yet to be reclaimed.

Generally, from what we can see in the charts, Ripple meets resistance around $0,18 to $0,23.

Ripple CEO Brad Garlinghouse says you have to look at XRP over the very long term and not in days or weeks.

Some experts say that XRP will never reach $1, and others say it will and much more.

That said, many enthusiasts say that the price of Ripple could rise further in the coming years given that its technology is aimed at global institutions and banks around the world. That mass adoption can even come from there..

How far can Ripple go…?

 

Some investors and hope that the price of Ripple will rise to $100 and even $1000. That said, it's being extremely optimistic...But experts like Andreas Kaplan think it will climb to $500.

Recall that analysts mentioned by Smartereum predicted prices of up to $10/$15 per XRP by the start of 2020, but this did not turn out to be the case… You can read the analysis here .

eIn short, to finish this long article (for those who are still here), let's say that the more major partnerships there are with Ripple, the more the crypto will inevitably increase in value. This is why many want to invest in XRP. Likewise, the more XRP is used, the rarer (and therefore more expensive) the tokens will become.

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