What is Ripple (XRP)?

Ripple is a distributed blockchain-based payment settlement network that aims to connect banks, payment providers, digital asset exchanges, and other corporations through cross-border payments. XRP, the token provided on the Ripple network, enables banks to source liquidity for cross-border payments without the traditional banking and transaction fees. In addition, it can be used to exchange and transfer over 30 different currencies whilst settling payments in a matter of seconds, as opposed to the typical 3-5 business days offered by banks and corporations.

Key Facts: 

• Transactions are settled within 4-5 seconds.
• Extremely low transaction fees (1/1000^th of a cent).
• Scalable (handles 50,000 transactions per second).
• Many partnerships with banks/corporations (i.e. MoneyGram, Saudi Central Bank, etc.).
• XRP is not mineable.

Where/How to buy:

Ripple can be purchased with Canadian Dollars and/or other supported cryptocurrencies on our exchange. Refer to the Getting Started section to learn about buying and selling cryptocurrencies on the NDAX platform.

Storage:

Ripple can be stored on our exchange and on several wallets, including the Ledger Nano S and the Toast Wallet.