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Ripple's mission is to transform global payments by enabling fast, transparent, and cost-effective cross-border transactions using blockchain technology, aiming to create a more inclusive and efficient financial system for individuals and institutions worldwide
What is XRP?
XRP is the native cryptocurrency of the XRP Ledger, a decentralised and public blockchain. Its primary function is to facilitate fast, low-cost global money transfers, particularly in the financial services sector, with the aim of improving cross-border payment systems.
How does XRP work?
XRP operates on the XRP Ledger, which uses a unique consensus algorithm (distinct from Proof of Work and Proof of Stake) to validate transactions. This mechanism enables near-instant confirmation and very low transaction fees, making XRP a more efficient alternative for global payments. XRP cannot be mined; all tokens were created when the network launched.
What are the potential use cases for XRP?
XRP's main use case is in cross-border payments, providing a faster and more cost-effective solution than traditional banking systems. It is also used as an exchange medium for other cryptocurrencies. XRP has strong connections in the financial services sector, with partnerships involving banks and financial institutions such as Santander and Kotak Mahindra Bank.
What is the history of XRP?
XRP was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto. The same year, Ripple Labs (initially called Opencoin) was founded. Over the years, XRP has grown into a key player in international payments, though it has faced significant regulatory challenges, including a lawsuit from the U.S. Securities and Exchange Commission (SEC).
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Frequently Asked Questions (FAQs)
What is the current price of XRP (XRP)?
The XRP price is $1.3502 AUD, representing a +19.11% from the day prior.
Where is the best place to buy XRP (XRP) in Australia?
The best place to buy XRP (XRP) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell XRP (XRP) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of XRP (XRP)?
The trading volume of XRP (XRP) is $33.2B AUD in the last 24hrs, representing a +19.11% from the day prior.
How can I buy XRP (XRP)?
XRP (XRP) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of XRP (XRP)?
The current market cap of XRP (XRP) is $117.7B AUD.
Can I convert XRP (XRP) to cash?
Yes - With Coinstash you can convert your XRP (XRP) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many XRP (XRP) are there?
The current circulating supply of XRP (XRP) is 56.9B.
Is Coinstash a safe place to buy XRP (XRP) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling XRP (XRP) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.