What is Ripple? How to Buy XRP Coin?

Ripple (XRP) is a cryptocurrency that was launched in 2012 by the fintech company Ripple Labs (now called Ripple). The goal of Ripple and XRP is to provide a faster and cheaper alternative to traditional cross-border payments and transactions.

Unlike Bitcoin and some other major cryptocurrencies that aim to be a store of value or commodity, XRP is positioning itself primarily as a bridge currency for international transactions and remittance. Its focus is on facilitating transfers between major fiat currencies like the US dollar, euro, British pound and Japanese yen by financial institutions and banks.

XRP

Some key properties and capabilities of XRP include:

• Fast transaction speeds and settlement times, with the ability to handle over 1500 transactions per second, settling in around 3–5 seconds. This is much faster than Bitcoin.
• Low transaction fees, usually less than a penny per transaction, making it cost-effective, especially for large global transfers.
• Built for the enterprise and institutional use case rather than peer-to-peer payments like Bitcoin. Over 200 banks and financial institutions are part of RippleNet, Ripple’s global financial network.
• Fixed total supply of 100 billion XRP created at launch, with regular releases from escrow to control supply and maintain liquidity. This differs from Bitcoin and some others that have hard limits.

There are a few ways for individuals to purchase XRP coins if they want to invest or use the cryptocurrency:

1. Use a leading cryptocurrency exchange like Coinbase, Kraken, Gemini or Binance. Most large crypto exchanges allow you to trade dollars or stablecoins for XRP with low fees. You’ll need to sign up and complete KYC verification on the platforms.
2. Use a specialized exchange for buying and trading XRP like Uphold, Gatehub or Bitstamp. These tend to offer more XRP trading pairs and storage options.
3. Withdraw from an ATM that supports XRP purchases using your debit card and cash. Availability is still limited but expanding.
4. Buy XRP directly from an online brokerage that offers cryptocurrency trading alongside stocks and funds. Examples include eToro, WeBull and Paybis. You can fund your account via bank transfer.

Once you’ve purchased XRP coins, they can be stored securely on the exchange itself or in a compatible online or offline cryptocurrency wallet. From there, they can be sent globally to any destination that accepts XRP almost instantly. The price fluctuates regularly like other cryptos based on market supply and demand dynamics.