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What is XRP (Ripple)?

XRP (XRP) is the native utility token of the XRP Ledger platform. XRP Ledger is an open sourced distributed ledger operated and run by Ripple. XRP Ledger achieves consensus via validator nodes that collect a set of all candidate transactions and comes to an agreement, this allows the ledger to reach consus each 3-5 seconds.

  • One of XRP’s major aims is to resolve problems faced by traditional payment methods, specifically, sluggish transaction times and scalability. XRP transactions can settle in 3-5 seconds, as well as the technical stability of handling 1,500 transactions per second.
  • XRP is also extremely reliable, having 56 million + ledgers being closed since 2012 while also being much more eco-friendly. XRP does not run on the Proof of Work consensus mechanism.
  • XRP intends to become a digital currency that can be used for payment. Anyone with an internet connection can hold and send XRP anywhere else. This makes XRP a great bridge currency allowing individuals to facilitate trades elsewhere.

Ripple and XRP are attempting to transform how money is sent around the world, something the XRP team believe is necessary as the globe's economy continues to evolve and grow. XRP’s vision is to bring about the ‘Internet of Value’ so the world can move value the same way it moves information.

How do I swap XRP (Ripple)?

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Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about XRP (Ripple)

Why Should I Trade XRP with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell XRP (Ripple) no matter what your trading experience is. Unlike other international and Australian XRP (Ripple) exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy XRP (Ripple) with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade XRP (Ripple) how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your XRP (Ripple)?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your XRP (Ripple) for free.

Cold Storage

If you are holding XRP (Ripple) as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy XRP (Ripple). We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for XRP (Ripple). CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
XRP (Ripple) has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As XRP (Ripple) is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual XRP (Ripple) exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in XRP (Ripple) & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying XRP (Ripple) safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your XRP (Ripple) portfolio here.
Yes! With CoinSpot you can convert your XRP (Ripple) to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

XRP is the native token and has the ticker symbol for the XRP Ledger

XRP Ledger is the only distributed consensus ledger

Ripple is the company behind Ripple Network

Ripple Network is a worldwide network payment built on the XRP Ledger

Ripple was started by Ryan Fugger in 2004. He developed the first version of Ripple and it was named RipplePay. In 2012 the operation was handed over to Jed McCaleb and Chris Larsen and they co-founded OpenCoin. In 2013, OpenCoin rebranded to Ripple Labs Inc and in 2016 they changed their name to just Ripple.

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