Book Image

Ripple Quick Start Guide

By : Febin John James
Book Image

Ripple Quick Start Guide

By: Febin John James

Overview of this book

This book starts by giving you an understanding of the basics of blockchain and the Ripple protocol. You will then get some hands-on experience of working with XRP. You will learn how to set up a Ripple wallet and see how seamlessly you can transfer money abroad. You will learn about different types of wallets through which you can store and transact XRP, along with the security precautions you need to take to keep your money safe. Since Ripple is currency agnostic, it can enable the transfer of value in USD, EUR, and any other currency. You can even transfer digital assets using Ripple. You will see how you can pay an international merchant with their own native currency and how Ripple can exchange it on the ?y. Once you understand the applications of Ripple, you will learn how to create a conditionally-held escrow using the Ripple API, and how to send and cash checks. Finally, you will also understand the common misconceptions people have about Ripple and discover the potential risks you must consider before making investment decisions. By the end of this book, you will have a solid foundation for working with Ripple's blockchain. Using it, you will be able to solve problems caused by traditional systems in your respective industry.
Table of Contents (7 chapters)

Making an international transfer

In Ripple, there is no such thing as international transfers. Anyone can send money to anyone within seconds, irrespective of how far away they are. If you want to send money to your friend living in Israel, get their public address and destination tag (if their wallet has one).

Open Toast wallet , enter your pin, and tap on the $ button on the bottom of the screen. You will be asked to select the account from which you want to send Ripple. You need to provide your friend's public address in the to field. If they have a destination tag, please add it. You can select the currency you want to send, but you need to have enough in the respective currency. You can enter the amount and tap on pay. You will be asked to provide your passphrase. The transfer should happen in 4-10 seconds.

In the following screenshot, I'm sending 2 Ripples to a...