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Bitbuy | Buy XRP
For those on the outside looking in, it may appear that the cryptocurrency industry is comprised of only a few digital currencies, with bitcoin, ether, and dogecoin at the tip of everyone’s tongue. But the world of crypto is populated by thousands of unique cryptocurrencies with different valuations, unique purposes, and innovative technologies.
XRP is quickly climbing the ranks as a popular cryptocurrency favoured for its fast, low-cost transactions, and uncomplicated method of mining. Here’s what you need to know to buy XRP.
XRP: A Primer
Ripple Labs, a U.S.-based technology business, launched Ripple in 2012. The concept was devised by Jed McCaleb, and Arthur Britto and David Schwartz built the system. XRP is the digital asset that runs on Ripple.
Unlike most other cryptos, XRP is a real-time gross settlement system, currency exchange, and remittance network. The Ripple network has been constructed on a distributed open-source protocol, supporting its XRP through fiat currencies, commodities, and cryptocurrencies.
What makes XRP even more unique is that some other measurements of value include mobile minutes on pay-as-you-go plans and frequent flier miles. Moreover, the XRP ledger is not managed on a blockchain but rather a Hash Tree, meaning that its currency cannot be mined.
As a result, there is a finite number of XRP coins: 100 billion.
Although 2020 and 2021 were the most significant years for the broader crypto industry, Ripple had been contacted by dozens of financial institutions regarding its technology that transfers money with ultra-low fees ($0.001809) and minimal wait-time. Indeed, XRP transactions are confirmed within moments, compared to bitcoin, which takes minutes to execute.
XRP is one of the many cryptos being actively traded on the open market. However, its primary appeal can be much more than a speculative investment on a trading platform.
How to Buy and Sell XRP
Is it time to purchase XRP as a long-term play for its impressive technology? If you’re ready to take the plunge, here’s what you need to know to buy and sell XRP with Bitbuy; Canada’s secure and simplified crypto-trading platform.
Discover how the process works:
- Create your personal or business Bitbuy account by entering your email address and phone number, and verifying your identity.
- Select your method of depositing funds. Bitbuy accepts Interac and bank wire for funding and withdrawal from your account.
- After this money has been added to your Bitbuy account, you can begin buying and selling XRP through the “Express Trade” section of your account, at any amount you wish. The dollar value of the quantity of XRP that you are purchasing or selling will appear in your “Transaction Summary” prior to completing the process.
Be sure to check our list of digital currencies as you initiate your journey in crypto and build your portfolio. Need help along the way? We’re here to provide real human support should you have any questions while signing up, using your account, or navigating our platform.
Ripple is one of the most exciting cryptocurrencies today. Used widely by major financial institutions and boasting the greatest speeds and reliability when it comes to sourcing liquidity on demand, there’s no doubt that the XRP network is primed for global growth. Join the Ripple tide and buy XRP today with Bitbuy.