Today we are happy to introduce a new coin on our platform. From now on, you will be able to deposit and trade Ripple (XRP) on CEX.IO. The available trading pairs include:
- XRP/USD;
- XRP/EUR;
- XRP/BTC.
The withdrawals will be enabled later, and we will inform you about it additionally.
What is Ripple?
The native currency of an exchange network Ripple, XRP is among the most popular cryptocoins. With the market capitalization over $8.7billion, it follows only Bitcoin, Ethereum, and Bitcoin Cash. Ripple is a payment protocol used by banks and other financial institutions for money transferring. Its primary task is to reduce the time and money required for cross-border payments.
Since its emergence in 2012, XRP has changed from the exchange intermediary to an independent altcoin. Now, it combines the best features that may be necessary for cryptocurrencies, including:
- solid list of investors and interest of respected companies;
- high level of transactional security;
- fast financial operations taking around 2 minutes;
- opportunities for institutional use while more banks all over the world are testing and implementing Ripple technology.
Market Expectations
Considering the developments and the current popularity of XRP, the Ripple CTO, Stefan Thomas, emphasizes that the value of the currency lies in its use cases. Industry experts find the growth of the currency reasonable due to Ripple’s initial essence, partnership with financial institutions and role in shaping the financial market, in particular, through the organization of “Swell” event.
Please, do not consider it an investment recommendation and remember that cryptocurrencies are always a risky investment. So, do your best to make a considerate decision.
The launch of XRP on CEX.IO is an additional trading option for our customers. So, we hope that it will be a worthy addition to our service.