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What is XRP?
XRP is the digital currency behind the XRP Ledger, a decentralized blockchain designed for fast and affordable global money transfers. It's built to make cross-border payments smoother and cheaper, especially for the financial services industry.
How Does XRP Work?
XRP runs on the XRP Ledger, which uses a unique consensus process—not Proof of Work or Proof of Stake—to validate transactions. This makes transactions lightning-fast and super affordable. Unlike some cryptocurrencies, XRP can’t be mined because all tokens were created when the network launched.
What Can XRP Be Used For?
XRP shines in cross-border payments, offering a faster and cheaper alternative to traditional banking systems. It’s also used for trading and as an exchange medium for other cryptocurrencies. XRP has strong ties to the financial industry, with partnerships involving major players like Santander and Kotak Mahindra Bank.
A Quick History of XRP
XRP was launched in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto. That same year, Ripple Labs, the company behind it (initially called OpenCoin), was established. Over the years, XRP has become a big name in international payments. However, it hasn’t been without challenges, including a notable legal battle with 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 $3.6802 AUD, representing a -0.56% 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 $26.8B AUD in the last 24hrs, representing a -0.56% 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 $208.9B 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 57.1B.
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.