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Ripple Review

Check out our comprehensive review of Ripple, which is a real-time gross settlement system, currency exchange and remittance network.

What is Ripple?

Ripple was founded as a financial service, providing a secure payment option to members of an online community through a global network. The idea was first conceived by American programmer and entrepreneur Jed McCaleb, who began developing a digital currency platform whereby transactions were verified by consensus among members. Ripple relies on what is known as a common shared ledger, whereby information about all Ripple account is stored on a distributed database. The system supports tokens representing fiat currency, cryptocurrency and commodities, among others, through a distributed open source protocol. The company behind Ripple has also created its own form of digital currency, called XRP, which allows money to be transferred to financial institutions with low fees and minimal delay.

Ripple Pricing

One of the main advantages of Ripple, compared to its nearest competitors, is the low transaction fees it offers. The cost of a standard transaction on the Ripple protocol is practically zero. This is because the transaction fee is roughly 0.00001 XRP, while the actual value of 1 XRP is around $0.43. In fact, the transaction process is somewhat unique, as the XRP that is used for paying the fees is ultimately destroyed, as there are no miners of the Ripple coin currency.

Ripple Wallet

There is a range of options when it comes to choosing a Ripple wallet on the market, as wallets are the most common way of storing crypto-currency. While bitcoin wallets are free of charge, Ripple wallets are required to have 20 XRP before booking their wallet addresses. Mobile wallet options for Ripple include: Abra, Atomic, and Toast. Each of these wallets are available on Android and iOS and are free to download. Moreover, desktop wallets such as Rippex and Exarpy can be downloaded as apps onto a computer or laptop. Also known as web wallets, they are essentially websites and are far less secure than mobile devices with offline functionality, while also incurring operational costs for the user.

Ripple Exchange

Ripple’s own digital currency, known as XRP, is traded on more than 100 markets and exchanges worldwide that are not officially associated or affiliated with the company. However, the in-house RippleX platform enables developers to leverage XRP in terms of micropayments and e-commerce to exchanges and peer-to-peer services. Most exchanges that trade Ripple are strictly limited to crypto-to-crypto transactions, meaning that users can only trade Ripple with other cryptocurrencies, rather than fiat currencies, such as the euro, pound sterling or the dollar. Some of the most popular XRP exchanges are: Binance, Bittrex, Changelly and Swapzone.


Fast transaction speeds
Partnerships with large financial institutions
Good customer support team


Designed with banks and payment providers in mind
Has competitors offering a similar product
A centralised model that is against the spirit of crypto currencies

About this Cryptocurrency Exchange

More than 100 major financial institutions had registered with the Ripple payment protocol by 2018. In the same year, the company launched a blockchain based foreign exchange service in partnership with Banco Santander. As part of the collaboration, the Spanish bank’s customers in the UK, Spain, Poland and Brazil could send money in multiple currencies around the world.
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