What is XRP?
XRP is the native digital asset of the XRP Ledger, a public blockchain. On the XRP Ledger, XRP is used to support digital payments, protect the ledger from spam and bridge currencies in the ledger's decentralised exchange where it's useful to users.
That's what sets XRP apart from tokens issued on top of the XRP Ledger. XRP is built into the ledger itself, while other assets can be represented on the ledger as separate tokens.
How to buy XRP in Australia
In the Crypto.com App, here's the basic flow:
- Create an account and complete identity verification.
- Add funds using an available payment method.
- Tap 'Buy', search for XRP, enter the amount and confirm your purchase.
Trading is subject to account verification and eligibility.
How can you pay for XRP in Australia?
You can use Australian dollars (AUD), the primary fiat currency accepted on the platform. Deposit AUD via PayID, which is free on Crypto.com, to fund your purchase of XRP.
You can also add funds by debit or credit card (Visa or Mastercard), Apple Pay, Google Pay or crypto transfer. Fractional XRP purchases start from AUD 20. Other transaction fees and spread may apply, so check the details before confirming.
What should you check before sending XRP after buying?
If you send XRP to a centralised platform, the recipient may need a destination tag as well as the wallet address. For XRP, the destination tag uses numbers only and helps the receiving platform credit the right account.
Leaving out a required destination tag when sending XRP to a centralised wallet can lead to irreversible loss of funds. Check with the recipient platform whether a destination tag is needed before you send.
