Ripple XRP Comes to iCE3X
Ripple XRP is now available to buy and sell on the iCE3X platform. We have been working for a long time to be able to implement this and now there is a native way to obtain XRP in South Africa. We are continuing to expand our tokens offering and will be looking to add ERC-20 tokens soon.
What is Ripple? Any Different to XRP?
First of all, for those who have not heard of Ripple Lab’s token, XRP, let’s explain what it is.
Ripple is a Real Time Gross Settlement or RTGS currency exchange network. The design of the network is to allow exchanges of money in any form, whether in Fiat or Crypto. The aim is to provide almost instant transactions at low fees which have many banks show interest in it as an alternative to SWIFT.
Ripple uses the token XRP for its network. XRP is the third largest cryptocurrency by market capitalisation (as of date 07 May 2019 – $12,847,838,068 ). Unlike most other cryptocurrencies, XRP is managed on a private and centralised blockchain which works with permissions.
In fact, Ripple owns over 60 percent of the total number of XRP. This centralised nature makes it more attractive to the current financial institutions as it can be more easily regulated. XRP can help bridge the gap between the established institutions and the cryptocurrency rich future.
A large advantage of the Ripple Network and the XRP token is the relatively low cost per token, especially compared to Bitcoin meaning many users can own multiples of the tokens which can become much more in the future. Instead of transacting with small decimals of a coin, it will be in easier to understand values, which really helps for it to be used in more real-world cases for transactions.
Finally, you cannot argue with the speed of their transactions which is measured in seconds.
Why are we Adding This to iCE3X?
There has been a huge demand for us to offer Ripple XRP as a trading pair on our exchange. We have taken your suggestions and have been working to implement this for a while now.
5 years in the future I see:
– #XRP used by governments, banks & retail customers worldwide
– Ripple founders become the first trillionaires
– Ripple is a $multi-trillion company
– Ripple & XRP on the cover of Fortune, Time, WSJ, etc.
– People bragging about buying XRP at $25
— Mark R. Phillips APR (@Mark_Phillips) April 30, 2019
This has been in the works for a while now. There are many behind the scenes infrastructure changes and challenges that go into adding a new token to the exchange. The work and resources involved in updating the exchange, adding helpdesk solutions, training of staff, the setup of wallets and systems for XRP, as well as website updates and testing the platform, needs to be justified.
We had sent out a survey about adding Ripple XRP to the exchange and there was more support than dissenters. Our mission to have our customers have a real say in the tokens they want to trade with on the exchange and give them the options they need.
We understand that we provide an amazing portal for many South Africans to easily move from Fiat into Cryptocurrencies and vice versa. Making this available easily to South Africans able to trade using ZAR was a priority for us and it will go a long way to help bring more access to the country and beyond.
We still stand firm in our position about Ripple XRP but we also believe in giving our customers a choice. You can invest in XRP but you should do your own research and know that you are investing at your own risk.
Where can you start to buy and sell XRP?
XRP is available to buy and sell on the iCE3X platform. It is available as an XRP/ZAR trading pair and also an XRP/BTC trading pair. We will be adding more altcoins in the future including ERC-20 tokens, so watch this space! Have you been waiting for Ripple XRP or have you just heard of it? Let us know if you are ready to trade XRP right now in the comments below.