XRP is available to buy from Clanz' digital currency exchange, with some of the lowest industry fees. Clanz offers investors and traders a secure, simple way to buy or trade Ripple XRP.
You can hold your XRP in your Clanz wallet as a long-term investment, exchange it for Australian dollars or another cryptocurrency, or send it to another Ripple XRP wallet.
XRP is the native token and has the ticker symbol for the XRP Ledger. XRP Ledger is the only distributed consensus ledger. Ripple is the company behind Ripple Network. Ripple Network is a worldwide network payment built on the XRP Ledger.
Like Bitcoin, Ripple does not use a proof-of-work consensus model, hence its token, XRP, cannot be mined like BTC. At the time of launch, the developers of Ripple created 100 billion XRP tokens.
Ripple controls the supply of tokens in circulation, with the exception of the 20 billion XRP provided to the company's founders and the tokens already sold on the market. To preserve liquidity and the price of XRP, the business periodically distributes XRP tokens from its supply (escrow account).
However, if you wish to own the XRP coin, you can buy the crypto from crypto exchanges and trading platforms like Clanz. Ensure you check the current price and perform some analysis of the Ripple token before making your trade.
Practising safe investing to minimise risk is crucial when buying XRP or any cryptocurrency. The first step to safely buy cryptos is to choose a safe digital currency exchange like Clanz. We’re a licenced Digital Currency Exchange with AUSTRAC (DCE100639664-001) and hold an Australian Financial Services Licence (518031). For more information, visit clanz.com/security