EXCHANGE XRP TO BITCOIN

What do you need to know?

  • ­The average time for exchanging XRP to BTC is no more than 1 minute
  • ­Only 1 XRP blockchain confirmation is needed to complete the exchange
  • ­If using an R address, be sure to include the Destination tag (DT)
  • ­If the wallet supports an X-address, you do not need to specify the Destination tag
  • ­The speed of confirmation of a Bitcoin transaction depends on the level of congestion of the Bitcoin blockchain network, read more in our article

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XRP at a glance

Ripple is a blockchain-like payment system launched by OpenCoin Inc in 2012 that focuses on non-chargeback currency exchanges.

Ripple works not only with cryptocurrencies, but also fiat currencies and commodities. That being said, it is worth highlighting the difference in the names of Ripple and XRP. Until recently, an equal sign was put between these two names. Now, Ripple is the name of the company, and XRP is the internal cryptocurrency of the Ripple network.

What is a Destination tag and should it be specified?

Destination tag is a payment identifier in Ripple and other coins. When exchanging on our service, be sure to indicate the tag when sending coins.

If it happened that you forgot to specify the tag or specified it incorrectly:

XRP addresses

R-address is a regular address that starts with “r”. The tag is generated automatically when placing an order.
Example: rffGCKC7Mk4cQ5aUGg8pfRe3MPC7Cy8gfe

X-address (new format) — starts with “x” and contains the destination tag.
Example: XV5sbjUmgPpvXv4ixFWZ5ptAYZ6PD2q1qM6owqNbug8W6KV

If the wallet does not support X-address

If your wallet does not support X-address, you can use R-address with a tag. You can use the Xrpaddress service to convert the address.

Operation speed

The advantage of XRP over competitors is that the speed of financial transactions is almost instantaneous. An interesting feature is that the speed will not be affected by either the price or the Ripple rate, and even the load on the network will not be a problem.

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When will Bitcoin be credited to your wallet?

We send Bitcoin immediately after the exchange is completed, but the time before the first confirmation depends on several parameters:

  1. Commissions. In our exchanger miner fee is set so that the transaction was one of the first.
  2. Frequency of occurrence of blocks. Blocks in the Bitcoin network appear on average every 10 minutes, but it happens that a new block does not appear for an hour or more. In this case, the Commission may lose its relevance and the transaction may go a little longer than planned.

How to estimate the confirmation time of the transaction?

There are several ways to estimate the time of confirmation of the transaction, but you need to understand that it is impossible to calculate it accurately since many factors affect the passage of your transaction, you can read more in our article.

It is important to note that to increase the number of confirmations, a new block must appear, blocks in bitcoin can go from 1 to 75 minutes. The average time of Bitcoin block appearance is 10 minutes.

You can read more in our article about the confirmation time in the Bitcoin network.

When can I spend the funds received?

How does the number of confirmations in the Bitcoin network increase?

After the first confirmation, they will only grow with newly mined blocks. If there is no next block for a long time, then the number of confirmations up to this point will remain unchanged.