Ripple is a tech company based in San Francisco that is focused on making it quicker, easier and more affordable for financial institutions to send payments around the world. Its main goal is to create a global payment network that allows for more efficient payments. The Ripple patented payment network is called RippleNet which is designed to connect payment providers, banks and digital exchanges around the world by providing an independent payment infrastructure.
XRP is the native digital currency of RippleNet, which facilitates quick cross border transfers and payments without the interference of central banks or other financial institutions. It also acts as a bridge between hard-to-match fiat currencies. XRP transactions can be processed in under 4 seconds, which is considerably faster than the transactions time associated with international bank transfers.
Ripple created its own open-source distributed consensus ledger, the XRP ledger (XRPL) which is used for processing and validating network transactions which are publicly recorded on the ledger. Unlike Bitcoin, XRP is not completely decentralised as it is owned and operated by a private company (Ripple). You can buy XRP (Ripple) from the New Zealand Crypto Exchange, Swyftx.
Check out our guide to Ripple (XRP) on Swyftx Learn.
To trade XRP in New Zealand, you will have to use a registered Cryptocurrency Exchange like Swyftx. XRP trading is quick and easy on Swyftx. The first step is to sign up for a cryptocurrency trading account and then verify your identity by confirming your phone number, email and ID. Once your account is verified, you can deposit NZD via debit card. Simply select the amount of Ripple you are wanting to purchase and click ‘buy XRP.’ Once you buy XRP in New Zealand, it will become immediately available in your wallet where you can hold or sell when the price is right for you.
The best place to buy Ripple is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell Ripple (XRP). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of XRP is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Ripple with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy XRP instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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This should not be used to make investment decisions.
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