Ripple (XRP) vs. NEM (NEM) – Which Crypto is Worth Investing in These Days?
Both XRP and NEM coins have been gaining popularity lately even in the bearish market. On the other hand, there are still a lot of investors and crypto enthusiasts who are not sure where to invest their money. So, if it were to come down to choosing between these two coins, here are some facts that will help you decide which one is the most viable to invest in.
NEM is developing quickly
Even if it’s a new emerging crypto, NEM is evolving quickly. It allows businesses and users to retain data securely and its primary advantage is the fact that it is able to secure any file or any kind of information that you have stored on your computer. Using NEM’s technology, you can be sure that your file’s structure will remain the same while the file itself would be totally protected. Even if the crypto is not on the market for such a long time compared to XRP, it definitely managed to impress various investors. This was mirrored by the fact that its value managed to surge a lot in the recent past.
NEM is currently priced at $0.220242, and it’s in the red on CoinMarketCap.
Ripple offers a protocol suited for most banks
Ripple provides a great protocol suited for most banks to use for money transfers all over the world. Using Ripple’s XRP individual investors can also transfer fiat currency. The transactions are made instantly, and the fees are much lower compared to the traditional ones involved by the SWIFT system.
The number of the banks who decided to use Ripple’s network for initiating international transfers has been significantly growing lately. American Express and Santander Bank are just two of the most important names. Ripple makes the cost of international transfers lower, and this is one of the main reason for its success. On CoinMarketCap, Ripple is currently being traded at $0.595396, and the coin is in the green.
Closing words and final verdict
During the last 14 to 18 months both these cryptos managed to increase by more than 1000%, and this is probably just one of the reasons for which investors are confused when it comes to choosing between them. Our advice is to not choose between them but to invest in both coins because they are both filled with high potential and solid goals.
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CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.