Ripple (XRP): what you need to knowRipple (XRP): what you need to know

Ripple refers to both the company Ripple Labs and the XRP Ledger, an open blockchain designed for fast and cheap cross-border payments. The native token of the network is XRP, used as a bridge currency between different fiat currencies and as a source of transaction fees. Ripple Labs builds products that help banks and payment providers integrate XRP and the XRP Ledger.

Whitepaper: https://www.lcx.com/xrp-mica-white-paper/

The XRP Ledger uses its own consensus mechanism, the XRPL Consensus Protocol, which differs from both proof-of-work and classic proof-of-stake. A group of independent validators decides every few seconds which transactions are valid and confirms new ledgers. As a result, transactions are very fast (a few seconds) and typically cost a fraction of a cent in XRP.

• Ticker: XRP

• Category: Payment Coin

• Blockchain: XRP Ledger

• Protocol: XRP Ledger Consensus Protocol

• Year of launch: 2012

Besides simple payments, the XRP Ledger supports native features such as a built-in DEX, escrow, multi-signing and the issuance of custom tokens. Recent upgrades also added NFTs, AMM pools and automatic bridge routes. The ledger does not have a smart contract VM in the EVM style; it is extended through 'amendments' that validators vote on.

The Ripple ecosystem includes banks, payment providers and fintechs that use products such as Ripple Payments and On-Demand Liquidity to speed up international payments. An ecosystem of DeFi, NFT and stablecoin projects is also growing around the XRP Ledger. Ripple itself is working on its own stablecoin (RLUSD) and on tokenisation solutions for financial institutions.

The XRP Ledger launched in 2012 by Jed McCaleb, Arthur Britto and David Schwartz. Shortly afterwards, Ripple Labs was founded, including by Chris Larsen and Jed McCaleb, to promote the protocol and build commercial products. The XRP Ledger itself is open source and is maintained by a group of independent validators worldwide.

BTC Direct has been the European entry point to crypto since 2013. We make buying Ripple straightforward, even if it is your first time:

• Trusted in Europe. BTC Direct is registered with the Dutch Central Bank (DNB) and operates under MiCA, the EU regulation for crypto.

• Familiar payment methods. Pay with iDEAL, Bancontact, Sofort, SEPA bank transfer, credit card, PayPal or Apple Pay. Your XRP is on its way within minutes.

• Your coins, your control. We do not store your XRP. After your purchase, your coins are sent straight to your own wallet address.

• Based in the Netherlands, serving all of Europe. Our experts are based in the Netherlands and answer in your language across the SEPA zone. Need help? We are here.

• Start with a small amount. From just €30. The minimum varies per coin.

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For more technical information about Ripple, visit the official website.

Cryptocurrencies, including Ripple (XRP), are volatile and carry risks. The value of XRP can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

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