How to Buy XRP
What is Ripple (XRP)
Ripple (XRP) is a blockchain-based digital payment network and protocol co-founded by Chris Larsen and Jed McCaleb in 2012. It offers seamless exchange and remittance of assets via its peer-to-peer decentralized platform, aiming to provide more efficient banking services.
Ripple uses a different consensus mechanism to confirm transactions. It relies on a consensus protocol to validate account balances and transactions on the system and prevent double-spending. The confirmations are almost instant and only charge a small fee. When users make a transaction on Ripple, the network deducts a small amount of XRP, its native cryptocurrency, as a fee. XRP is also used as an intermediate of exchange between two assets or networks to facilitate a quick conversion. XRP is also used as a global bridge currency between multiple fiat currencies. XRP is available for purchase on the Binance exchange.