It took me time to admit it: XRP has a kind of utility. Maybe that's why it recently pumped, or maybe some good news are coming... Anyway, as XRP was removed from COINBASE Wallet last month, I searched for a good alternative and discovered Xumm Wallet which is pretty cool. And then only I decided to check what I could buy with XRP and if the tokenomics are good enough to hold it for a while. Let's see...
What can I buy online with XRP?
XRP (XRP) is a digital currency that can be used for online purchases on platforms that accept it as a form of payment. While the list of merchants accepting XRP is still relatively limited, there are several options available for those looking to use their XRP to make online purchases.
Some examples of what you can buy online with XRP include:
- Travel bookings: Several online travel booking sites, such as Travala.com, accept XRP as a form of payment for hotel bookings, flights, and other travel-related expenses.
- Gift cards: You can use XRP to purchase gift cards for a variety of popular retailers, such as Amazon, Walmart, and Target, through platforms like Bitrefill.
- Cryptocurrency exchanges: You can use XRP to buy other cryptocurrencies on exchanges such as BINANCE and Bitstamp.
- Online gaming: Some online gaming sites accept XRP as a form of payment, such as Big Fish Games.
- Merchandise: There are several online retailers that accept XRP as a form of payment for merchandise, such as the online retailer, eGifter.
XRP tokenomics
XRP is a digital asset that was created by the technology company Ripple Labs in 2012. It is designed to be a fast and efficient way to transfer value between individuals and institutions around the world.
Here are some key facts about the tokenomics of XRP:
- Total supply: The total supply of XRP is 100 billion tokens. Unlike some other cryptocurrencies, no new XRP can be mined or created.
- Circulating supply: As of early 2023, the circulating supply of XRP is around 47 billion tokens. This represents the total number of XRP tokens that are currently in circulation and available for trading.
- Distribution: The distribution of XRP tokens is controlled by Ripple Labs, which holds the majority of the tokens. However, Ripple has committed to using a portion of its XRP holdings to support the development of the XRP ecosystem, including by funding projects and investing in startups.
- Transaction fees: XRP transactions are designed to be fast and cheap, with transaction fees typically just a fraction of a cent. These fees are paid to the network to compensate validators for processing transactions.
- Use cases: XRP is primarily used as a means of payment and a store of value, with a focus on cross-border transactions. The Ripple network also includes other tools and services, such as xCurrent and xRapid, which use XRP for settlement and liquidity purposes.
Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.
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