What is XRP?
XRP is a cryptocurrency that operates on its own blockchain, utilizing the Ripple payment settlement system and currency exchange network. This network operates in a different way from other cryptocurrencies, making it slightly more secure and efficient.
XRP allows anyone to download validation software, but keeps unique node lists a user can select to verify transactions in a safe way. Ledgers are updated every three to five seconds and users confirm consistency with the other ledgers. Because of this system, it is slightly more centralized than other cryptos.
Ripple, the system XRP operates on, is what makes this possible. Ripple’s security and speed are already approved of and utilized by large companies like Santander. It also boasts very low transaction fees, at 0.00001 XRP per.
How to create XRP wallet?
Creating XRP wallet with Coin Wallet is fast and hassle-free. You can do it from your computer or mobile device without providing any personal information.
The process is simple:
- Select “Create new wallet”.
- You will be given a unique passphrase. This is your only way to access your wallet. This information cannot be retrieved if lost, so it is essential to record it in a secure place.
- Set a PIN for quick access on your device.
- From here, you’re ready to send, receive and exchange XRP with the app. You can buy XRP with a credit/debit card, Google Pay, Apple Pay, or exchange with your existing crypto.
