Ripa Exchange is a decentralized and hybrid platform that facilitates easy entry of new cryptocurrency trading exchanges. This network is built on the Open Source Code of Peatio, a cryptocurrency exchange based in China. Moreover, the platform uses RLSP (Ripa Liquidity Service Provider) that provides a unified orderbook to every exchange in the network, thereby offering liquidity to its members.
Features of Ripa
Some of the primary features of Ripa are:-
1. Open Source
This platform is completely free for the exchange managers. However, they are required to pay for some functions like network security, server and call center operations, and other resources that would run the platform.
2. Bank-Grade Security
Ripa uses the AES256 encryption. This security measure is needed to dissuade potential hackers from stealing the information of the traders. AES encryption is used by many fintech institutions around the world. Additionally, International AML/KYC is also integrated to ensure compliance of an exchange in various countries.
3. High Liquidity
From day one, the new Ripa exchange will offer all the liquidity that users expect from a decentralized exchange platform. The exchanges in the platform will be integrated with Ripa blockchain that delivers the necessary liquidity.
The Peatio blockchain incorporated in the exchange support a plethora of languages, in order to, improve the usability of its users who are spawned across the globe.
5. Multiple Currencies and Exchanges
Peatio allows users to make multiple accounts for trading on the Ripa platform. This enables users to efficiently trade in multiple currencies.
6. Seamless UX and UI
The Ripa platform has an effective UX and UI. Users can easily log in and register themselves on this platform. The platform also facilitates easy deposit and withdrawal of the fund.
7. Enterprise Exchange
The 2-factor SMS authorization is a key feature of the Ripa exchange. Furthermore, this exchange has a high-performance engine and works on scalable distributer threads.
8. Accept Multiple Currencies
Ripa exchange accepts all the major cryptocurrencies such as BTC, USDT, Neo, Steem, DGB, BCH, XRP, ETH, LTC, DOGE, ARK etc.
9. Proof of Solvency
Users can ascertain the solvency of the exchange via their Peatio Proof of Solvency system (PoS) without exposing their data to hackers.
Few Important Questions Related to the Functioning of Ripa
1. What are the various Ripa transaction costs?
● Normal transaction cost- 0.1 XPX
● Voting/Unvoting- 1 XPX
● Registering 2nd Passphrase- 5 XPX.
● Delegate name registration- 25 XPX
2. How Does Passphrase help?
The passphrase is the main password that is used to unlock XPX token and every XPX address has its unique passphrase. With the passphrase, users can sign transaction in order to send vote or XPX for delegate.
3. What is a 2nd passphrase?
This is another password comprising 12 characters. The 2nd passphrase further strengthens your security.
4. What if I lose my passphrase?
There won’t be any refunds as all transactions are immutable. To buy XPX tokens, users can visit the following exchanges:
Ripa – Facilitating Secure Crypto-Trading
Ripa is a decentralized cryptocurrency platform that allows users to trade in a secure and efficient manner. The interface of this exchange is user-friendly, supports various currencies and accounts, and has an enterprise-level exchange feature. Moreover, Ripa exchange has bank-grade security, sufficient liquidity and supports numerous languages to offer a seamless trading experience.