Ripple (XRP) is a very peculiar digital coin created by Ripple to power the RippleNet network. This decentralized peer-to-peer platform is designed to simplify financial transactions between large financial institutions. The fast digital payment protocol provides the technical ability to transfer almost instantaneously any digital or fiat currency to any country in the world.
What is unusual about XRP
Unlike most successful cryptocurrency projects, Ripple did not plan to become an alternative to the existing financial system.
The team set itself a different goal: to improve the existing mechanisms for transferring value and bring them in line with the modern pace of life. Bank is reliable. This message is often played up in advertising slogans, but large transfers are carried out within a few days and are always associated with transaction costs. During the waiting time, the exchange rate of the sender and the recipient may change dramatically and this will entail additional losses.
The bank’s reliability, complemented by the high speed of transactions and the almost symbolic commission of RippleNet, is the ability to minimize all possible costs.
Ripple Coin (XRP) is used to transfer value on the RippleNet. In fact, it is an intermediary coin for mutual settlements between financial institutions, including tanks and exchanges. Ripple is in the TOP 10 cryptocurrencies with the largest market capitalization. Since the services of the company are used by more than 40 reputable organizations, the coin inspires confidence as a potential investment object.
How to buy XRP
Top 10 coins are available on almost all cryptocurrency exchanges. The platform where you buy XRP depends on the type of currency you hold. HitBTC Changelly and other large custodian cryptocurrency exchanges offer direct Bitcoin to Ripple exchange. If you do not have any bitcoin or other cryptocurrency yet, the exchange of fiat money for digital is available on custody platforms. Please note that you will first need to exchange your currency for Bitcoin or Tether, and only then can you buy Ripple.
It is important that registration with custody services is required, especially if you plan to try your hand at being a trader. Registration of an account is followed by a check, which is often quite lengthy. For verification, you will need to provide a scan of your ID, phone number and email.
If you already have a certain amount in Bitcoin, you can proceed easier and use the services of the non-custodial LetsExchange service. To buy Ripple, you just need to follow a few simple steps:
- In the upper field of the exchange widget, indicate Bitcoin and the amount to be sold.
- Select Ripple in the bottom field.
- Indicate the wallet address for crediting purchased coins.
- Deposit coins.
- Press the “Exchange” button.
The smart search program will check all available offers, choose the best deal, and execute the exchange. The trading platform works without commissions and restrictions on the amount and number of transactions.
How to convert Ripple to other cryptocurrencies
300+ cryptocurrencies are available for exchange on the LetsExchange platform. Using the exchange widget of our online cryptocurrency exchange service, using the same algorithm, you can exchange Ripple for any cryptocurrency in a matter of seconds. Please note: when exchanging XRP, select it from the top field menu.