Rippex Guide for storing Ripple (XRP)

Knowledgebase Forum - May 16th 2017

  1. Madturk

    Madturk

    Joined:
    Dec 2017
    From:
    USA

    Yes, I had the same question too.
     
  2. PinkMule

    PinkMule

    Joined:
    Dec 2017
    From:
    Russia
    Hey guys i have some questions
    As you know, the number of coins affects market capitalization. Ripple is now in circulation 38.7mlrd. but it is possible to issue another 55 billion coins
    as it is written here: https://ripple.com/insights/ripple-escrows-55-billion-xrp-for-supply-predictability/
    "We use Escrow to establish 55 contracts of 1 billion XRP each that will expire on the first day of every month from months 0 to 54. As each contract expires, the XRP will be available for Ripple's use "

    will the further introduction into the circulation of coins affect the market capitalization and should we expect a fall in the price of the ripple immediately after the introduction of the next billion coins?
     
  3. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    I wouldn’t really say it would cause a fall in price. The “escrow lock up” was actually an ethical move on Ripple’s part to ensure they didn’t dump larger amounts on the market, so the price could be more stable. If anything it may prevent the coin’s value from going extremely high in a quick time frame, but remember that with Ripple, everytime a transaction is completed the fee in XRP is burned, thus reducing the total supply. Although it’s not a huge amount that is burned, with the number of transactions they plan on handling over the next 5 years, that supply will begin to shrink more rapidly, thus driving up the value of the remaining total supply. XRP was designed as a deflationary currency, so over time the value should continue to rise; even faster with mass adoption and usage. I see XRP as a retirement holding. If they continue to do well and capture a large percentage of the money transfer/remittance, crossborder payment market, image what 1XRP could be worth in 10-20 years.
     
    Madturk likes this.
  4. Hitesh

    Hitesh

    Joined:
    Dec 2017
    From:
    C-scheme
    Q1 : is Ripple Desktop Wallet is secure for holding Ripple for long term ?

    Q2 : If i lose access to my computer & any virus affects the Ripple
    Desktop Wallet software then will i able to use that wallet by
    using secret key ?

    Please reply...........
     
  5. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    1. Any wallet that you have full control of wil be safer and more secure than an exchange wallet.
    2. You need to print off all your info on paper (passphrase or secret key, wallet address, etc) so that if something does happen to your computer you can use that information to access your account from a new computer.
     
  6. Hitesh

    Hitesh

    Joined:
    Dec 2017
    From:
    C-scheme
    Currently i'm holding 500 XRP which i want to transfer from koinex account to Ripple Desktop Wallet. I want to send small amount at first to see the transaction go through successfully. So i sent 1 XRP but that wasn't successfull. Why ? Please help me......
     
  7. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    All Ripple accounts require a Base Reserve amount of at least 20XRP. I suggest sending at least that amount so the account can be established.
     
  8. Hitesh

    Hitesh

    Joined:
    Dec 2017
    From:
    C-scheme
    V4Vendetta thanx for replying me back. My last Question : Can i Send those 20 XRP to my binance account for trading ? Do you guyz have any facebook group of cryptocurrencies ?
     
    V4Vendetta likes this.
  9. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    You can send XRP to whatever exchange supports XRP. We don’t have a Facebook group but we do have a page. https://www.facebook.com/Cryptorum-1880963845503288/
     
  10. Evergreen

    Evergreen

    Joined:
    Dec 2017
    From:
    Vietnam
    How long does it take, if I withdraw XRP, eg. from Exrates, please?
     
  11. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    Transferring XRP is generally pretty fast. Anywhere from seconds to 5 minutes, from my experience.
     
  12. Evergreen

    Evergreen

    Joined:
    Dec 2017
    From:
    Vietnam
    So, I've got problem.
    My local wallet still be empty, even my withdraw order was made for more 8 hours.
    I don't know how to check.
     
  13. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    I've never used Exrates, but I would check your transaction ID's here to see if there is a status. Otherwise create a support ticket with Exrates to determine why it hasn't gone through.
     
  14. Evergreen

    Evergreen

    Joined:
    Dec 2017
    From:
    Vietnam
    My transaction has been declined. I've got the notification.
    Their's statement: "you must have at least 20 XRP on your account"
    Thank you.
     
  15. Evergreen

    Evergreen

    Joined:
    Dec 2017
    From:
    Vietnam
    However, I have a wonder.
    In the "Account explorer" navigator, I put my XRP address, then the message is "Account Not Found".
    So, any doubts with my address, please?
    Noted: I created my wallet from the installer of Ripple for desktop.
     

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