What is Ripple?
Ripple is a decentralized payment system created in 2012 by Arthur Britto, Ryan Fugger, and David Schwartz. It serves as a global payment protocol and currency exchange, aiming to enable mainstream banks to conduct real-time financial transactions worldwide at a lower cost than traditional services.
Ripple consists of two main components: the remittance network and XRP, the native token used for transactions within the network.
How to Buying, Storing and Selling Ripple:
To buy and sell Ripple (XRP), follow these simple steps:
Buying XRP from an Exchange:
Choose a global cryptocurrency exchange like koinpark.
Create an account, provide the necessary information, and verify your identity.
Link your bank card or the preferred payment method.
In the exchange, go to the "buy" tab and purchase the desired amount of Ripple using dollars or other available fiat currencies.
Storing XRP:
After purchasing XRP, consider sending it to a secure wallet for safekeeping.
Log into your exchange account, click on your profile, go to funds, and select Ripple.
Input the destination address of your chosen wallet.
Selling Ripple XRP:
You have two options to sell ripple, directly for dollars or through an exchange that supports both XRP deposits and cash withdrawals.
Alternatively, exchange XRP for another cryptocurrency (e.g., ETH or BTC) and then convert it to USD currency.
Cryptocurrency exchanges accepting XRP deposits, allowing sales, and facilitating USD withdrawals include Koinpark.
Conclusion:
Remember to choose the option that aligns with your preferences and goals. If you're new to the process, take it step by step, and make sure to use secure wallets for storing your XRP. To purchase Bitcoin in India, refer to the Koinpark blog post titled "How to Buy Bitcoin in India".
