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Ripple vs Bitcoin: A Complete Comparison | XRP vs Bitcoin | Ripple Coin vs BTC

Ripple vs Bitcoin: A Complete Comparison | XRP vs Bitcoin | Ripple Coin vs BTC

In this article

Ripple and Bitcoin are two of the most popular cryptocurrencies. But how do they compare? And is one better than the other?

In this complete but easy to understand Ripple vs. Bitcoin comparison, we’ll tell you everything you need to know about these two crypto titans.

Note: Ripple is the name of the company behind XRP, Ripple’s crypto asset. However, people commonly refer to both the company and their crypto as “Ripple”.


Ripple vs. Bitcoin: In a Nutshell

In a nutshell, Bitcoin was designed to be peer-to-peer digital cash, while Ripple wants to make international transactions cheaper and faster for banks.

Though Bitcoin can also be used for international bank payments, and Ripple can also be used for peer-to-peer transactions, the intended use cases of Bitcoin and Ripple are peer-to-peer payments and international bank payments respectively.


Ripple Coin vs. Bitcoin: Transaction Fees

Aside from the different intended use cases of XRP and BTC listed above, another primary difference of Bitcoin vs. Ripple is transaction fees.

Indeed, Ripple is cheap for banks (and others) who want to move money around internationally or otherwise.

If you’ve ever sent money abroad, you’ll know that it’s often costly, since the money passes through the hands of various middlemen, such as banks, before getting to your recipient.

On the other hand, Ripple transactions cost next to nothing at an average of $.0001, or 1/100th of a penny, as of writing. This, of course, would be very appealing for banks who move around vast amounts of money per day, often at high costs.

While Bitcoin’s transaction fees are also rather low (compared to bank fees) at an average of $0.50 per transaction as of writing, this fee is higher than that of Ripple’s. Moreover, during times of heavy network usage, Bitcoin’s average fees have gotten as high as $55.16 per transaction.

ripple vs bitcoin average transaction fees
When it comes to transaction fees, Ripple wins. Image credit: BitInfoCharts

Ripple vs. Bitcoin: Transaction Speed

Another important difference between Bitcoin and Ripple is transaction speed. Bitcoin transactions take about 10 minutes on average, while Ripple’s take just a few seconds.

Again, relative to Bitcoin, Ripple is the winner. However, 10 minutes and a few seconds are both still very fast when compared to the transaction speed associated with the traditional financial system (which can be more than a few days).


Ripple vs. Bitcoin: Decentralization (How Secure is Ripple Coin vs. Bitcoin?)

Bitcoin, the original cryptocurrency, was envisioned as a decentralized, peer-to-peer digital currency not controlled by a bank or government.

Bitcoin still remains decentralized to this day, with miners, or users who validate Bitcoin transactions using sophisticated computer hardware, spread around the world. Developers who work on Bitcoin’s core technology as well as nodes, or computers that store copies of Bitcoin’s blockchain, or record of transactions, are also globally distributed.

There are more than 10,000 Bitcoin nodes. No one node can tamper with Bitcoin’s transaction history without the other ~10,000 nodes knowing. Image credit: Bitnodes.io

Bitcoin’s strong decentralization makes it hard for one actor or group to seize control of the network for their own benefit.

However, this isn’t the case with Ripple. Only a few validators validate Ripple transactions. Moreover, Ripple is run by a company, who has the ultimate say as to what happens with the Ripple network. This means you have to place a lot of trust in Ripple (who owns nearly 60% of all XRP), and its selected validators to act in the interest of the network as opposed to their own.

This, of course, defeats the purpose of decentralized cryptocurrencies, which is not having to trust that a single entity such as a government or corporation won’t abuse their power for their own benefit.

And even aside from potential malicious intent due to centralization of power, something could happen to Ripple the company, such as the company going out of business, which would severely harm XRP or altogether kill it. Take out a Bitcoin miner, developer, or node, and Bitcoin lives on.

When it comes to decentralization, Bitcoin wins.


Ripple vs. Bitcoin: Price

Aside from decentralization, another big difference between Bitcoin vs. Ripple is price.

According to current crypto charts, Bitcoin and Ripple are two of the biggest crypto assets by market capitalization (number of assets in circulation * asset price). But their different total asset supplies account for the huge price disparity between BTC and XRP.

There are only 21 million BTC compared to 100 billion XRP. This means that the market capitalization of XRP is spread across 4,761.9 times XRP than BTC, making the price of each individual unit of XRP much lower.

Regardless, XRP’s low price can be a good thing for investors, as many crypto “newbies” will buy XRP because of its low price, thinking it has more room to “grow” than BTC. In reality, XRP’s low price is due to the aforementioned higher XRP token supply.


Conclusion: Bitcoin vs. Ripple, which is Better?

So the big question is - when it comes to Ripple vs. Bitcoin, which is better? When it comes to transaction fees, transaction speed, and (perceived) “low price”, Ripple is the clear winner.

However, Bitcoin is much more decentralized and doesn’t require trusting a single company or party to properly develop and maintain the network.

Therefore, Ripple might be better suited towards banks and other financial institutions (Ripple’s intended audience), who might want a fast and inexpensive way to move money across borders but not care that much about decentralization.

Bitcoin, on the other hand, might work better for everyday people who want to regain control of their money from abusive and irresponsible governments and corporations.

In such a scenario, both might have a promising future in the years to come. Indeed, Ripple and Bitcoin are two of the oldest cryptocurrencies that still survive to the present day and that might continue moving forward.

Even during the end of 2013, which was around the peak of one of the first major cryptocurrency bubbles, Bitcoin and XRP were two of the top cryptos. Image credit: Coinmarketcap

Buy Ripple and Bitcoin Easily, Without Creating an Account

Want to buy Ripple and/or Bitcoin easily, without having to create an account? Exodus allows you to exchange crypto assets for both XRP and BTC from your Exodus wallet with just a few clicks or taps.

Exchanging assets in Exodus desktop wallet.

Where to Store Ripple and Bitcoin

Along with allowing you to exchange for Ripple and Bitcoin, Exodus allows you to also store both XRP and BTC without having to download two separate wallets.

Other features include:

  • Millions of downloads with one of the highest ratings in both the App Store and Play Store
  • You control your private keys
  • Emphasis on design and ease of use with the team having done work for companies like Apple, BMW, and Louis Vuitton
  • Support for desktop, mobile, and hardware wallets (Trezor, with only Trezor Model T support for XRP)
  • Ability to sync Exodus desktop with mobile, allowing for easy access to funds across devices
  • 24/7, fast human support always available to answer questions

Download Exodus


Ripple vs. Bitcoin Reddit

Want to continue the Ripple vs. Bitcoin discussion elsewhere?

Check these Reddit threads:

Another option is to join us in the Exodus public Slack community!

This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

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