One may wonder why exchanging Ripple to Cardano is even a thing. However, the Cardano vs. Ripple debate has been raging for years, and Ripple’s ongoing lawsuit might play a huge role in it, with the Securities and Exchange Commission (SEC) lawsuit having XRP prices on the retreat.
The lawsuit’s back and forth has caused a lot of uncertainty, and as Ripple Labs awaits the SEC’s decision, some investors are looking to convert Ripple to Cardano, the newest darling of institutional investors.
What is Cardano (ADA)
Cardano (ADA) is not your ordinary mill of the run blockchain project. It has a proof of stake (PoS) consensus algorithm making it more energy efficient than Bitcoin’s proof of work consensus blockchain. It also has a faster transaction speed than Ethereum, running millions of transactions each second.
Cardano’s development starts off with Charles Hoskinson, who was part of the Ethereum network’s founding team. His support team includes Cardano’s chairperson Nathan Kaiser, a lawyer with International Trade experience. Frederik Gregaard, Cardano’s CTO has banking, asset and wealth management experience and is a cryptocurrency management expert. The Cardano team has industry veterans that have streamlined its Ouroboros Protocol, making Cardano as secure as Bitcoin is, without the energy intensive proof-of-work complex equations solving. Ouroboros is peer reviewed and has proven to be a sustainable blockchain security and decentralization protocol.
Cardano vs. Ripple
There are many reasons why a savvy trader would currently go for Cardano in the ADA vs XRP comparison. Cardano does not have any lawsuits or centralization controversies pulling down its growth. ADA is rising and may continue doing that as it now has a $6 billion fortune to fund its development teams.
Cardano is also launching its smart contract functionality, Goguen. Goguen could draw in more NFT and dApp developers to Cardano, since the Ethereum network scalability problem is adversely affecting development. On Cardano, transactions cost pennies and are fast enough to take over NFT dominance from Ethereum.
How to exchange XRP to ADA?
To convert XRP to Cardano at the best price, follow the below-mentioned steps:
- Visit swapzone.io.
- Choose XRP in the Send section.
- Specify the total amount of XRP you are going to exchange to ADA.
- Select ADA in the Get Up To section.
- Go through the best fixed and floating rate exchange offers listed on the page. The best XRP to ADA deal will be placed at the top. You will also see the amount of time it will take to complete the exchange.
- Choose the offer you wish to proceed with and then enter the wallet to receive ADA.
- Copy the generated XRP address and send your XRP deposit.
- The exchange service will take a few minutes to process the deposit and the exchange.
- Rate your experience with your exchange partner to provide Swapzone’s future users with more information on the services.
- Enjoy your ADA coins :)