Before starting off with this article, we would like to point out some things. When it comes to investing in anything from the investing market or when it comes to investing in things like cryptocurrencies, there is no assurance of safe investment. There is no such assurance of safe investment because every single investment that you make comes along with multiple risks. Any person is responsible for their own investment made and is the one responsible for standing up and facing the risks or maybe the consequences for investing in anything. Nevertheless, we have explained in points about what are the disadvantages of investing in ripple.
Starting off with the disadvantages and then moving on with the explanations for investing in ripple for the same topic, let us begin with this article. Learn more about buy btc visit on uphold.
The disadvantages of investing in RippleNet:
- One of the disadvantages is that it is open-source. Though it may sound good, there is an open-source platform, but the court of the source can be modified and changed because of many people trying to hack the coding.
- Another one of the disadvantages can be that the entire investment that you will be making would be like play monopoly because the ripple labs are the owners of 61% off the coins.
- It is said to be quite highly centralized. And as contradicting as it may sound, the main aim for any cryptocurrency lies on the basis of not promoting control which is centralized.
- The most worrying part about investing in cryptocurrency is obviously being faced with a loss. Because ripple is an open-source platform, the chances of the coding being hacked like mentioned earlier do sound like a negative aspect that is going to be the most worrying one. So, being peculiar and careful before investing a large amount in his platform is necessary.