Ripio Credit Network is an open-source global credit network that connects lenders, borrowers, and loan originators on the blockchain to create transparent and unlimited debt markets.
What is Ripio Credit Network (RCN)?
RCN is a network of key Decentralized Finance service providers interacting with each other through a set of open-source Ethereum smart contracts, aimed at connecting the supply and demand of debt markets and enabling seamless credit use cases.
The RCN token is an Ethereum smart contract at the heart of the RCN protocol, acting as a tool that allows for the seamless transfer of value across borders and currencies through the blockchain. Using a series of Liquidity Pools, funds provided by a Lender in one cryptocurrency can be exchanged by RCN, published on the blockchain, and eventually re-exchanged into the Borrower’s preferred currency. The entire transaction takes only a few seconds, involves no fees regardless of where the Lender and Borrower are located, and guarantees security and transparency at every step, as funds are never stored in proprietary third-party wallets.
In an increasingly globalized world, Ripio Credit Network uses Blockchain technology to bridge the supply and demand of credit across borders, creating a new ecosystem for decentralized debt products. There are fundamentally three components in RCN:
- Lenders: The decentralized market allows lenders to access the world’s most profitable debt markets, no matter where they are.
- Ecosystem: The network connects stakeholders in the credit markets, including identity verifiers, scoring agencies, and exchanges, with key Decentralized Finance service providers.
- Source: The platform provides financial institutions, fintech lending companies, and Blockchain initiatives with access to a global credit supply.
According to the platform, Blockchain technology enables the RCN network to outperform existing credit solutions by creating a transparent and completely unlimited alternative to traditional debt markets.
As of the time of preparation for publication, Ripio Credit Network (RCN) is trading at $0.1503, also trading against Bitcoin at 0.000002709 BTC. According to CoinMarketCap data, with a trading volume of $76,389,465, Ripio Credit Network Coin ranks 433rd, and its 24-hour trading volume is $2,090,730.
In addition, RCN Coin reached its all-time low on February 5, 2019, at $0.0100 and its all-time high on January 4, 2017, at $0.5168. Currently, there are 508,404,746 RCN Coins in circulation, and it is aimed to reach 999,942,647 RCN Coins.
Where to Buy RCN Coin?
RCN Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy RCN coin, one must first sign up for Binance and then send fiat money. After sending a fiat currency like dollars, one can purchase Bitcoin (BTC) and then proceed to buy RCN in the RCN trading pair.
Additionally, on Binance, users can place a buy order not only at the market price but also at a lower price. For this, using the Limit tab and entering the amount you want to buy and the price you want to pay will suffice.
