What is Ripple (XRP) Coin
To begin with, it’s important to understand the difference between XRP, Ripple and RippleNet. XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on blockchain, but rather the previously mentioned distributed ledger database.
The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While XRP is the cryptocurrency native to the XRP Ledger, you can actually use any currency to transact on the platform.
While the idea behind the Ripple payment platform was first voiced in 2004 by Ryan Fugger, it wasn’t until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple began to be built (at the time, it was also called OpenCoin).
- The XRP Ledger (XRPL) is an open-sourced distributed ledger powered by a network of peer-to-peer servers.
- XRP is the digital asset native to XRPL. It is designed to function as a bridge currency, with the goal to “power innovative technology across the payments space” and enable “seamless, real-time, final, and cost-effective” global payments.
- The XRPL also supports IOUs (obligation-like assets), which can represent a large variety assets (e.g. fiat currencies, gold, airline miles, credit card points, and other cryptocurrencies).
- The XRPL offers a decentralized exchange, allowing for trading of IOUs and XRP. XRPL also offers some smart contract functionality and supports the network-agnostic Interledger Protocol.
- The supply of XRP is capped at a total of 100 billion XRP, while the available supply of XRP is designed to decrease over time, as the accrued amounts of transaction fees are “destroyed”.
- XRPL was initially released in 2012 and is maintained by community participants, prominently amongst them the company Ripple, which holds a large amount of XRP that are largely locked up and purpose-bound.
How To Buy Ripple (XRP) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Xrp coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Ripple coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Ripple (XRP) Coin
Ripple (XRP) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Ripple (XRP) Coin Review
You can learn more about Ripple (XRP) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://ripple.com/ Github https://github.com/ripple Documentation https://xrpl.org/docs.html Telegram https://t.me/Ripple