What is XRP?

  • rippleXRP$0.261628-1.44%
  • stellarStellar$0.071541-1.71%
  • tronTRON$0.018568-2.62%
XRP is the best digital asset for payments with faster speeds, lower cost and higher scalability than BTC, ETH, BCC, DASH and LTC
XRP is a superior digital asset for payments.

XRP is a digital asset created specifically to address many of the shortcomings faced by Bitcoin and its PoW system. Bitcoin has largely failed in its original vision of being a payment system due to the low speed, high cost and lack of transaction scalability on its network. XRP is a great digital asset for payments due to its high transaction speed (3 second transactions), low cost (a fraction of a penny per transaction) and high
scalability (1,500 transactions per second on ledger).

Who is Ripple?

Ripple is a company attempting to build a platform (Ripplenet) that utilizes the XRP token to solve the global cross border payments problem. In the current correspondent banking system, moving money across countries can take days. In the traditional system a large amount of capital is tied up worldwide because of the requirement for the pre-funding of nostro and vostro accounts.

What is the Ripplenet?

Ripple SVP of Product Asheesh Birla explains cross border payments leveraging xRapid and XRP on RippleNet.

The Ripplenet is Ripple suite of three products; xVia, xCurrent and xRapid that work together to provide a seamless experience for companies, banks and payment providers to quickly and transparently move their money around the globe.

Other Players in the XRP Ecosystem

Ripple is not the only player in the XRP ecosystem. A number of other projects are building real world solutions on top of the XRP token and interledger protocol.
Full list of companies utilizing the XRP token

R3's Corda Settler is using XRP
R3’s Corda Settler to utilize XRP to settle transactions
Coil web monetization pays content creators in XRP
Coil web monetizaition using XRP
Codius is using the XRP ledger for smart contracts
Codius Smart Contract Platform (Beta)
OMNI allows you to rent and lend items and receive payment in XRP
Omni: Rent and lend items for payment in XRP
Forra,io allows you to sell your used items for XRP
Forra.io: sell your used items for XRP
The XRP Tip Bot allows you to tip people with small amounts of XRP
XRP Tip Bot: use your Twitter, Redit or Dischord account to send XRP tips

How to buy XRP

For those living in the United States, Uphold.com is a great platform that allows customers to purchase XRP for fiat currency. For those that already own other digital assets Binance is a great platform to exchange BTC or ETH for XRP. For a list of XRP exchanges and fiat pairings in your country check XRParcade.com.

***Update: XRP can now be purchased on Coinbase, one of the most popular and easy to use digital asset exchanges.***

Tony from ThinkingCrypto.com performs an Uphold exchange demonstration

How to store XRP securely

Once you have purchased your XRP, it is important to store the digital asset off the exchange. Unless you have management of the private keys you do not really own your digital asset. Exchanges are the targets of frequent hacks that result in the loss of cryptocurrency. The safest way to store your digital asset is offline in a hardware wallet such as a Ledger Nano S.

Note: DigitalAssetInfo.net is not a financial adviser. All information is for entertainment purposes only and does not constitute financial advice.

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