The market interest about Ripple’s token has been increasing lately and the XRP FAQ is getting read by more and more users. In times when XRP is reaching a fever pitch, people have more questions about the company and the second biggest altcoin in front of it.
In order to clear up any misconceptions about Ripple and XRP, we have published answers to seven of the most frequently asked questions that the Ripple team has received. So, let’s begin with this crypto news informational article.
1.How do I buy XRP?
First in our list of XRP FAQ is this common question. The answer is simple – XRP is available for purchase on more than 60 digital asset exchanges worldwide, most of which are listed on this page. However, you should know that every exchange has a different process for purchasing XRP.
2.What is the difference between XRP, XRP Ledger and Ripple?
The Ripple news also show that this is a common XRP FAQ search. To answer it, XRP is the digital asset native to XRP Ledger. The XRP Ledger, on the other hand, is an open-source and distributed ledger while Ripple is a privately held company.
3.How many financial institutions adopted XRP so far?
As of May 2018, eight major providers including MoneyGram, MercuryFX, IDT, Cuallix, Western Union, Cambridge Global Payments, Currencies Direct and Viamericas have all publicly announced their pilot use of XRP in payment flows through xRapid.
4.How secure is XRP and do you have to use exchanges?
If you are looking up the XRP FAQ from their official website, you will see that the XRP Ledger is where XRP transactions occur and are recorded. The software operates with a variety of organizations and has an open-source code base that actively develops and maintains the ledger.
To purchase XRP, you must use an exchange or gateway and/or have a digital wallet. Ripple does not endorse, recommend, or make any representations with respect to gateways, exchanges or wallets.
5.Which wallet should you use for XRP?
The rule of thumb is to conduct your due dilligence before trusting money to any third party or third-party technology. However, a simple research online will show you that TREZOR and Ledger Nano X are the two best hardware wallets for XRP.
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