About XRP (XRP)

Overview

XRP (XRP), previously known as Ripple, is a network/cryptocurrency that boasts a fast and highly scalable digital network and enables payments anywhere in the world in real-time. XRP was built for enterprise use and gives banks and payment clearing providers on-demand and reliable options to source liquidity for global payments. XRP payments are swift and settle in just 4 seconds. XRP consistently handles 1,500 transactions per second and can be scaled up to process the same payment volumes as Visa. The open-source technology is built on the principles of blockchain and has a five-year track record of stable technology and governance making it ready for institutional and enterprise use.

Technology

XRP was the first to introduce a consensus algorithm known as Federated Byzantine Agreement (FBA), which was picked up by competing cryptocurrency Stellar (XLM). Transactions are grouped into sets, and sets are voted on by pre-selected validators. Every set must go through four round of voting until they reach 80% consensus. This process confirms transactions are legitimate and 'safe' with 98.8889% probability. Validators choose their peers and store them on a 'Unique Node List.' As a result, institutions can enter performance contracts with their validators, which is a significant implication in the mass adoption of distributed ledger technology (DLT).

Future Focus

XRP is focused on providing on-demand liquidity to banks and other payment providers for cross-border payments. It makes sense then that XRP want to focus on building relationships with banks and other payment providers to encourage adoption. XRP's overall goal is to be the primary cryptocurrency used for transacting value internationally. For more information regarding XRP visit the official website.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

Buy XRP (XRP)

Trading Hours:
9am – 10pm, 7 days.

266

Need to know

We run a tight ship here at Bitprime. Before purchasing, all customers must:

Register a user account with us.

Verify your ID.

Login before purchasing.

Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

Buy Bitcoin

Due to the price of sending and sourcing BTC the minimum order is $500.00.

Trading Hours:
9am – midnight, 7 days.

We are Off now.