How to buy Ripple from Bitget 

What Is Ripple (XRP)?

Ripple is a real-time gross payment (RTGS) system designed to enable instant global currency transactions. While XPR is the native platform token of the Ripple Ledger, users can still trade in any currency on the platform.

Ripple can be both considered as a cryptocurrency and a digital payment transaction network. It was launched in 2012 and was co-founded by Chris Larsen and Jed McCaleb. For both banks and financial institutions, Ripple is a transaction system for international money and security transfers.

Ripple is the name of the company and the financial network, and XRP is the platform token. XRP is the exchange mechanism between two currencies or networks. It plays the role of a temporary settlement between two currencies.

Ripple’s Founders

Chris Larsen is a serial entrepreneur and angel investor. He is also the co-founder of several tech start-ups in Silicon Valley. The most famous company founded by Chris is E-Loan in 1996, he was the one who raised the idea of peer-to-peer money lending at the beginning of Web 1. In 2012, he founded Ripple with Jed McCaleb.

On January 4, 2018, Forbes estimated Larsen's worth at USD 59 billion, just behind the founder of Meta. In 2020, he ranked No. 319 in the Forbes 400 list of the richest people in America.

Jed McCaleb has contributed to the early stage of the Bitcoin network. He back then built a peer-to-peer Bitcoin transactions network. In 2012, he founded Ripple with Chris Larsen, aiming to simplify complicated international financial transactions.

How does Ripple (XRP) work?

Ripple is a distributed decentralized financial technology platform. It aims to increase the speed of international transactions so that a frictionless experience to send money globally is provided, including real-time messaging, clearing, and settlement of financial transactions. Through blockchain technology and modern APIs, Ripple enables financial institutions using the Ripple Network to send money globally and instantly.

Products supported by the Ripple Network

xCurrent: xCurrent helps banks to process real-time payments globally so that banks can offer new cross-border payments services to their customers. xCurrent is designed to meet the compliance, risk, and security to fit the demand of banks.

xRapid: xRapid is designed to minimize the liquidity costs like payment services providers and banks. It is very costly to enter emerging markets as a pre-funded local currency account is required. The XPR is created to provide liquidity for businesses. So that banks and payment providers enjoy a more efficient and reliable liquidity option to service cross-border payments.

xVia: xVia enables users to send payments globally with transparency including rich information like the invoices attached. On the other hand, it does not require the users to download any software.

With Ripple Network, customers can quickly access new emerging markets, to expand their businesses to different regions. Also, a huge administration and time cost can be saved through the Ripple Network.

With a single connection, customers can access the best blockchain technology for global payments, payout capabilities in over 40 currencies, and on-demand liquidity as an alternative to pre-funding and operational consistency through a common rulebook.

Ripple’s Use Cases

Financial institutions like banks, payment providers, exchanges, and corporations can address many commercial use cases on the Ripple Network, including:

  • Issuing online invoice
  • Settle the international supply chain payments
  • Access to the global currency account
  • Real-time cash pooling to provide liquidity
  • Settle the international transaction bill
  • Settle international P2P payments

Ripple also collaborates with different famous companies like AWS, according to the introduction of AWS, Ripple collaborates with financial institutions worldwide; more than 100 financial institutions have joined RippleNet, including:

How Many XRP Are There In Circulation?

The total supply of XRP is 100 billion. The current circulating supply is 99,990,375,595.

XRP is the cryptocurrency mainly used in the Ripple payment network. It is mainly built for business usage. It aims to create a speedy user experience for cross-border payments.

Here’s the allocation of XRP:

  • 20% was retained by the founders of XRP. Chris Larsen and Jed McCaleb each received 9.5 billion XRP. Arthur Britto received 1 billion XRP.
  • 77.8% was allocated to Ripple
  • 0.2% was airdropped as an experiment to try and expand usage as part of the launch

XRP gets its value from various factors, but mostly from Ripple’s ability to work with institutions and from its ability to quickly and cost-effectively be exchanged for any currency or asset.

How to Buy Ripple (XRP)

Consider investing in Ripple (XRP)? It only takes 2 minutes to create an account on Bitget and start trading XRP.

Check out the available XRP trading pairs on Bitget!

Futures market

XRPUSDT

Spot market

XRP/USDT

XRP/USDC

Related Ripple (XRP) Pages

Whitepaper

Official Website

Bitget: Where The World Trades Ripple

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How to buy Ripple from Bitget 

What to Do After I Buy Ripple

Store/Hold Ripple

Many users hold on to their Ripple with the expectation of it increasing in value. You can store your XRP safely on your Bitget account or on our crypto wallet app Trust Wallet, the most user-friendly and secure mobile wallet.

Trade Ripple

You can trade Ripple for 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. Bitget offers many trading pairs for Ripple trading to meet your needs.

Send Ripple

Yes, Bitget allows you to easily transfer value around the world, fast. You can buy Ripple online and send to anyone and anywhere with their Ripple address.

Spend Ripple

You can also buy goods and services with your Ripple. More and more vendors and retailers accept Ripple every day.

Donate Ripple

Bitget Charity accepts Ripple donations for global projects that aim to improve the lives of people in the bottom billion. You can donate Ripple so no one misses out on the growth made possible by blockchain.

Learn More About Ripple

You can read more in-depth articles on Ripple from Bitget Research and study how cryptocurrencies like Ripple work on Bitget Academy

Buy and Sell XRP on the Move

Download the Bitget crypto trading app and trade your XRP plus 150+ cryptocurrencies, anytime and anywhere.

(!) Cryptocurrency investment activities, including actions done to buy Ripple online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy Ripple instantly, and we put our best efforts to fully inform our users about each and every cryptocurrency we offer on the exchange, but we are not responsible for the results that may arise from your Ripple purchase. This page and any information in it is not meant to be interpreted as an endorsement of any particular cryptocurrency or method of acquiring it.