A new rumor is circling the crypto world that Amazon might soon join in on the crypto trend. More specifically, the rumor claims that Amazon’s currency of choice might be Ripple (XRP). There are a number of reasons why this would make sense, but it is important to remember that no official confirmation regarding this has been issued by any side as of yet.
Will Amazon really go for Ripple (XRP)?
Ripple (XRP) has had great success lately, especially when it comes to entering multiple deals with some of the largest financial institutions in the world, providing a background against which this new rumor of adoption by Amazon emerges.
If it turns out to be true, this could be a game-changer for both Ripple and Amazon. There is no doubt in anyone’s mind that Ripple would go for the chance to become Amazon’s crypto of choice if given the opportunity. After all, the coin’s goal is to provide quick, safe, transparent payments with almost non-existing fees to all willing to use it.
Ripple as Amazon’s chosen currency
Businesses have shown interest in adopting cryptos since the crypto-hype began. Sometimes, this has proven to be a great decision, and sometimes the adoption did not go so well. Many still remember Steam’s decision to adopt Bitcoin, which was revoked after the crypto’s stability issues were revealed.
Despite the fact that Ripple is also still unstable, its price oscillations are much smaller than those of other cryptocurrencies. XRP is a currency that has an owner, which is the Ripple company, who control it so it cannot be mined by just about anyone. All the coins have already been mined, and approximately one third has already been released to be used. Now, the total supply of XRP coins is huge, and definitely much bigger than that of BTC. Because of this, XRP’s price is lower, but it is also more stable.
Ripple also offers much lower fees (.00001 XRP per transaction) than Bitcoin, and it is capable of performing thousands of transactions per second at the incredibly fast speed of completion of 10 seconds at most.
So yes, Amazon might do well to consider getting Ripple as its method of payment. Whether or not is it actually going to do it is up to them, but many believe that this would be an excellent move. It would certainly expose Ripple to more potential users.