XRP is now available on Coinify
We’re happy to share that XRP on the Ripple Network is now available to buy and sell for Coinify customers and users.
Users can now buy and sell XRP directly through the Coinify Trade Widget using their preferred payment methods, including credit or debit cards, Apple Pay, or bank transfers.
What is Ripple (XRP)?
Ripple (XRP) is a digital asset designed to make global money transfers faster and more affordable.
Unlike many early cryptocurrencies, which often lacked features to support regulatory oversight, Ripple was developed with compliance in mind. It aims to complement, not disrupt, traditional financial institutions by offering a modern approach to cross-border payments.
Let’s break it a down into the main key points:
Ripple consists of two main components: XRP, the cryptocurrency, and Ripple Labs, the company that developed the underlying network and technology.
XRP is the native token used to facilitate quick and low-cost international transfers.
One of XRP’s core use cases is acting as a bridge currency, helping banks and financial institutions exchange fiat and crypto more efficiently.
How Ripple Works?
Ripple Labs launched XRP in 2012, building a distributed ledger system inspired by blockchain but with distinct differences from Bitcoin. While both rely on decentralised ledgers, XRP operates on a permissioned blockchain, meaning only approved participants (validators) can verify transactions. These validators are part of Ripple’s unique infrastructure - a system run by a private company rather than a public network.
Is Ripple a Token, a Company, or a Network?
The term “Ripple” can refer to multiple parts of the ecosystem:
XRP: the digital asset used in transactions.
Ripple Labs: the company that created and maintains the Ripple ecosystem.
Ripple Network: the suite of payment solutions developed by Ripple Labs, including XCurrent, XVia, and XRapid, each serving a specific role in the movement of value across borders.
Unlike Bitcoin’s open network, where anyone can validate transactions, Ripple uses a controlled set of validators, providing a different approach that appeals more to regulated institutions.
Where and how to Buy/Sell XRP on Coinify
Step 1.
Head over to coinify.com/trade. Let’s say you want to buy XRP, simply enter the amount you'd like to spend in your local currency and select XRP. You'll then see a real-time quote for your purchase.
Note: If you don’t already have an account, you’ll need to create one. If you do, simply log in. If you want to use Coinify as a company or business, you can create a corporate account.
Step 2.
Input your wallet address.
Important: Please ensure you input a wallet address that you have total control over.
Step 3.
Select your preferred payment method.
Step 4.
You will then be shown a summary of your trade, which includes the following information:
The amount of chosen cryptocurrency you are purchasing
Delivery fee
Total price
You can click on 'Show Transaction Details' for more information about the transaction, including the exchange rate, fees, and the wallet where your funds will be delivered. Read and accept Coinify’s Terms of Service and click "Go To Payment".
Step 5.
Your trade will be processed, and the cryptocurrency will be delivered to the address you provided.
