Released in 2012, Ripple is a payment protocol. Many people lauded it as the Cryptocurrency answer to the PayPal.
Currently SWIFT, which is the leading global transaction settlement system used by 11,000 financial institutions in 200 countries takes around four days to settle the transfers. Ripple can process the payments within 3.5 seconds to anywhere on the planet. Moreover, only costs a fraction.
The Ripple Coin, XRP is popularly known as ’’Banks Bitcoin’’, is used in the Ripple platform as a liquidity factor. So, any currency is converted to XRP and transferred. The supply limit of Ripple Coin is 100 billion and are pre-mined during the initiation. The platform is called RippleNet and used by more than 75 financial institutions including UBS, Santander. And many governments accept Ripple Coin as a legal tender. Ripple has obtained BitLicense which is a business license of virtual currencies in New York State Department of Financial Services, on June 13, 2016.
In 2017 alone, XRP value increased by 40 fold.
Many online and offline wallets are available.
- Hardware Wallets – Ledger Nano S
- Paper Wallets – ripplepaperwallet.com
- Desktop Wallets – Rippex
- Online Wallets – GateHub
- Exchange Wallets – Bittfinex, Kraken, Bitstamp
- Android and IOS wallets – Toast Wallet
How to get XRP?
Many Cryptocurrencies are minable, XRP Ripple is not one of them. If you want to buy in bulk then directly contact the people at Rippple.com. Otherwise, you can buy at exchanges like Coincheck, Korbit, CoinOne, Bitbank, etc.
Also, if you have any other altcoin in hand, you can convert them to XRP ripple at shapeshift.io or changelly.com. When using this channel mind the transaction fees for currencies like Bitcoin and Ether as the conversion transactions on these platforms have a time limit of ten minutes.
As the price of XRP ripple is only a fraction of a dollar now is the best time to buy.
Read more about Exchange Platforms here.