| Online Broker | Minimum Deposit | XRP Trading Platforms |
|---|---|---|
| Pepperstone | $200 Minimum Deposit | MT4, MT5, cTrader, TradingView XRP Trading Platforms |
| IronFX | $50 Minimum Deposit | MT4 XRP Trading Platform |
| IQ Option | $10 Minimum Deposit | IQ Option Platform XRP Trading Platforms |
| easyMarkets | $25 Minimum Deposit | easyMarkets Platform, MT4, MT5, TradingView XRP Trading Platforms |
| Plus500 | $100 Minimum Deposit | Plus500 Platform XRP Trading Platforms |
Ripple - Blockchain for Enterprise and Anyone ?
Ripple is a way to send money using a distributed electronic ledger and consists of RippleNet which is for use by enterprises and a cryptocurrency Ripple (XRP). XRP can be used by anyone to make digital payments.
The brokers in the table offer trading in CFDs based on the price of the cryptocurrency. This means that the trader does not own the cryptocurrency, does not therefore need a wallet to store it and can go long or short.
What is RippleNet ?
Ripple is designed to be an enterprise payment solution. To enable this, Ripple has an infrastructure to support payments, called RippleNet. This consists of xCurrent, which provides cross border payment settlements for banks, xRapid which provides liquidity to convert payments as it is needed (e.g. via hedge funds and other institutions) and xVia which is an interface for making payments. Companies, such as money transfer companies, join RippleNet as clients.
What is the cryptocurrency XRP ?
The cryptocurrency which can be used to make payments on RippleNet is also called Ripple and has the symbol XRP (payments can be made in fiat currencies as well). Ripple says that transactions are settled rapidly and that it is scalable (i.e. it can handle increasing transactions per second).
In common with other crytocurrencies, Ripple uses a distributed electronic ledger to process payments in a distributed manner (called the XRP Ledger). Anyone can use or own XRP (e.g. to send a wallet to wallet payment) or build on the XRP Ledger, but RippleNet is for use by financial institutions (which includes exchanges). RippleNet uses the cryptocurrency XRP and the XRP Ledger in xRapid.
Summary
- Ripple is company which provides a cross border enterprise payment system
- Ripple runs RippleNet which provides the technology to make these payments
- Ripple is powered by a distributed electronic ledger called the XRP Ledger
- Ripple uses a cryptocurrency called XRP
- XRP can be used by anyone
