XRP is Ripple's native cryptocurrency. The token is used as a transfer of value on RippleNet. Ripplenet connects financial institutions and payment providers. It has a dual mandate as a cryptocurrency and as a digital payment network for financial transfers and transactions. XRP enables a near-instant and direct transfer of money between two parties much more quickly and efficiently than other blockchain protocols and traditional financial institutions. Any type of currency can be exchanged with XRP on the Ripple blockchain protocol. XRP helps banks, payment providers, and money services businesses reduce their transaction times and costs, while also allowing them to access new markets. This is especially beneficial when making financial transactions to the more remote and developing regions of the world that do not have access to traditional banking institutions and infrastructure. Existing settlement systems most often use US dollars as a common currency. This creates currency exchange fees and can take time. By first converting into XRP, rather than USD, exchange fees are eliminated, and the processing of payments is reduced to seconds.
First released in 2012, Jed McCaleb, Arthur Britto, David Schwartz, and Ryan Fugger all had major involvements in the ideas and creation behind Ripple.
Ripple is a technology company that facilitates transactions through their network, RippleNet. XRP is Ripple’s native currency.
The Ripple system connects financial institutions and payment providers to provide fast and secure financial transactions and payments. The platform helps banks, payment providers, and money service businesses reduce their transaction times and costs, while also allowing them to access new markets.
The Ripple Network is decentralized however it is owned and operated by a private company and since all the coins are already mined, the Ripple developers have the power to decide when and how much to release, making it more centralized than other cryptocurrencies such as Bitcoin.
Buying XRP (XRP/CAD) in Canada can be done through a cryptocurrency exchange such as NDAX, a peer-to-peer trade, or at some Bitcoin ATMs. However, utilizing platforms such as NDAX will allow for affordable, safe, and fast transactions.
Selling XRP (XRP/CAD) in Canada can be done through a cryptocurrency exchange, a peer-to-peer trade, or at some Bitcoin ATMs. However, utilizing platforms such as NDAX will allow for affordable, safe, and fast transactions.
Trading XRP (XRP/CAD) is made affordable, safe, and fast through cryptocurrency exchanges such as NDAX. NDAX’s trading fee is 0.2%.
Converting XRP (XRP/CAD) to cash can be done through a cryptocurrency exchange such as NDAX. First, you will have to trade your XRP to CAD. Once your XRP is converted to CAD you can send a CAD withdrawal to your bank. Click here for step by step instructions.
Unlike other cryptocurrencies, XRP cannot be mined. There is a maximum supply of 100 billion XRP.