Buy XRP

Want to buy Ripple (XRP)? But what is XRP? And how is it connected to Ripple? How do I buy it?

XRP (Ripple) is a that you can use to send and receive payments across the world.

It is different from regular money because it is not controlled by any government or bank. Instead, it runs on a network owned by a company called Ripple. This network is called the

XRP is the native crypto token of the Ripple network, and it consistently lists among the top 10 cryptocurrencies by market capitalisation. At the time of writing, XRP was the most-popular cryptocurrency. It can be bought at pretty much every crypto exchange.

What is XRP?

XRP is designed to be fast, cheap, and reliable. It can handle thousands of transactions per second, and it only takes a few seconds to confirm a payment. It also has very low fees. While Bitcoin is also handy for international payments with low fees, XRP is less energy intensive.

XRP can also be exchanged for other types of fiat currency or crypto, such as dollars, euro, or Bitcoin. This makes it easier to move money across different countries and currencies.

Who owns XRP?

XRP is created and managed by a company called Ripple Labs. Ripple’s goal is to improve the way money moves around the world, especially for international payments, using a blockchain.

Ripple offers various products and services that use XRP and the XRP Ledger to connect banks, payment providers, and other financial institutions. By using XRP, these institutions can save time and money, and offer better services to their customers. The XRP Ledger is an open-source, decentralised blockchain technology.

Many people invest in XRP because they believe in its potential to change the future of finance.

Risks: Regulation, competition, and security

Ripple has had some with regulators in the USA, and in early 2024, an executive of Ripple, Chris Larsen, had his private for a reported US$112.5m in XRP.

The price of XRP fell after this news, and Larsen quickly claimed on X that the funds were frozen and everything is fine… but it is something to keep on your radar.

Why Ripple is better than existing systems like SWIFT

XRP is superior to the SWIFT system for several reasons.

-Faster transactions: XRP can settle payments in 3 to 5 seconds, while SWIFT can take up to 5 business days.

-Lower costs: XRP has a very low transaction fee of 0.0001 XRP, while SWIFT charges a percentage of the transaction value, which can be very expensive for large amounts.

-Greater transparency: XRP uses a distributed ledger that records every transaction and can be verified by anyone, while SWIFT relies on a network of intermediaries that can cause delays, errors, and fraud.

-Higher scalability: XRP can handle thousands of transactions per second, while SWIFT has a limited capacity and can face congestion and downtime.

Ripple legal dramas

The drama Ripple had with regulators began in late 2020 when the U.S. Securities and Exchange Commission (SEC) charged Ripple with selling unregistered securities.

After years of litigation, on July 13, 2023, a federal judge handed the company a partial victory by ruling that XRP sales on public crypto exchanges were not offers of securities under the law.

On the 8th August 2024, a federal judge ordered Ripple Labs to pay a $125 million civil penalty in the long-running case brought by the Securities and Exchange Commission (SEC). The judge denied the SEC's request for a penalty of $2 billion.

Following the ruling, the value of the XRP token rose significantly.

How to buy XRP?

If you’re interested in buying Ripple XRP, you can buy it on CoinJar.

To buy Ripple XRP, you’ll need to create an account with CoinJar, verify your identity, and deposit money into your account. There are several ways to do this, including bank transfer from your bank account and you can buy it with a credit or debit card.

Ripple XRP: Conclusion

In summary, Ripple XRP has the potential to revolutionise the way we think about money and payments.

Created by Ripple, XRP is a native token of the XRP Ledger that you can purchase using Australian Dollars. After you purchase XRP or buy crypto, be sure to store your XRP and other crypto securely.