What is XRP?
XRP is a digital asset that’s native to the XRP Ledger, an open-source,
permissionless and decentralised blockchain technology. Created in
2012 specifically for payments, XRP can settle transactions on the ledger in 3-5 seconds.
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How to buy XRP in Australia with BTC Markets
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2. Deposit
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3. Trade
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4.6
Why buy XRP (XRP)?
XRP enables the seamless and rapid transfer of funds across borders with minimal costs via the Ripple network. It acts as a bridge currency, providing financial institutions with a more efficient medium of exchange.
Money transfer: Ripple is a money transfer and payments network, with XRP being the network’s native currency.
Fast cross-border transactions: XRP enables rapid and cost-effective international transfers.
Trusted financial partnerships: Ripple collaborates with established financial entities, showcasing real-world utility.
Stable supply: XRP's pre-defined supply contributes to price stability relative to other cryptocurrencies.
Liquidity and market access: XRP offers high liquidity, making it easily tradable on multiple exchanges.
Robust infrastructure: For exchanging digital and traditional currencies quickly and efficiently at a low cost.
When was Ripple and XRP created?
XRP was created in 2012 by co-founders Chris Larsen and Jed McCaleb. The blockchain was developed to challenge how we exchange cash and empower individuals to carry out transactions on their own terms with minimal fees. Ripple is a privately funded organisation, with its primary funding source being the sales of traders buying XRP.
BTC Markets allows traders to purchase XRP and facilitate other crypto exchanges with minimal fees and hassle.
How do you buy XRP in Australia?
If you’re wondering how to buy XRP in Australia, look no further than BTC Markets — the country’s largest and most liquid cryptocurrency platform. To purchase XRP through our platform, you will first need to create an account so that we can verify your identity. Once your account is ready to go, you’ll be able to browse our main interface and select ‘Change Market’ to purchase XRP. Traders can also view price fluctuations for XRP in the last 24 hours.
The next step is to decide how you wish to purchase your cryptocurrency — buying XRP with BTC Markets can be done through AUD or BTC. BTC Markets supports Osko payments and via individual BSB and account number. if you opt to fund your purchase through AUD. You’ll also be asked to set up two-factor authentication and API key creation when setting up your purchase options. The final step is to place your order online. BTC Markets gives traders the option to purchase by ‘Volume’ (the amount) or ‘Price’ (the maximum price you are willing to pay). Traders also can choose between purchasing whole or fractions of the XRP token.
How do I sell XRP?
XRP exchange in Australia can be done safely and efficiently through BTC Markets. If you wish to sell XRP from your account, select the ‘Buy/Sell’ option. Scroll down to the red-lettered ‘Sell’ form and enter the volume and price you want to sell your XRP for.
BTC Markets is a simple and convenient way to purchase and trade cryptocurrency. From competitive fees to more than 20 market options, traders have access to flexible features, unmatched security and, thanks to our mobile app, the power to trade on the go! Unlock your trading potential and sign up to BTC Markets today.
Frequently asked questions
How much XRP can I buy?
BTC Market does not place a cap on the amount of XRP you can buy. You may start from $15 and go onwards to buy up to $150,000 or more per day.
How is the price of XRP determined?
The price of XRP is determined by the interplay between supply and demand in the market. Various factors contribute to this dynamic, including market sentiment, liquidity, and news. It can either push the price up or dive it down.
What payment methods are accepted when buying XRP?
We support card, instant OSKO payments and individual BSB and account numbers.
What do I do after I buy XRP?
Being a cryptocurrency trader means picking up several skills, from monitoring price fluctuations to knowing the right time to sell. And once you’ve understood how to buy XRP in Australia, your next task is to decide how you intend to store your new assets. XRP wallets in Australia are a top pick for many crypto traders due to their convenience and flexibility. The two main types of digital wallets are:
- Hot wallets — A hot wallet is a storage system that operates on a browser or app and is usually connected to your trading platform. This gives traders the convenience of being able to trade, sell or store their XRP in one place. However, cold wallet storage is more secure.
- Cold wallets — These digital wallets can store your cryptocurrency offline, typically on a USB. Having your assets stored this way can reduce your risk of being hacked or exposed to other kinds of cybercrime. But keep in mind that if you misplace your cold wallet, you risk losing your assets. To prevent a mass loss, many traders opt to use a combination of cold and hot wallets to safeguard their assets.
Check out our security tips to learn more about how to protect your details and assets online.
Can I buy XRP with a credit or debit card?
If you’re looking to buy XRP in Australia through BTC Markets, keep in mind we only support AUD payments made via Osko and individual BSB and account number., which requires a person’s bank account details.
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