LordAMV Posted January 1, 2018 Share Posted January 1, 2018 hello everyone, I am an XRP newbie and trying to get an understanding of pricing and where/how to buy. As of this moment, I am looking at pricing (USD) at $2.23 on coinmarketcap (not an exchange as far as I am aware?), $1.94 on Kraken and roughly $1.74 on GateHub. Needless to say I am quite confused. Can anyone explain these discrepancies? Can anyone tell me where coinmarketcap is pulling its data from? Trying to wrap my head around these rather significant price differences and what it all means. Link to comment Share on other sites More sharing options...
John_Buh Posted January 1, 2018 Share Posted January 1, 2018 Coinmarket uses a weighted average of worldwide exchanges. The discrepancies you are seeing are the exchanges in chaos right now. It should all level out once the pig goes through the python. Link to comment Share on other sites More sharing options...
Tonnie Posted January 1, 2018 Share Posted January 1, 2018 21 minutes ago, XRP_FER_ME said: Coinmarket uses a weighted average of worldwide exchanges. The discrepancies you are seeing are the exchanges in chaos right now. It should all level out once the pig goes through the python. Hahaha, what? Euh, so maybo to explain it. It's like there are many nasdaq's with the same products. But al the nasdaqs don't have the same investors/sellers, the number of investors/sellers. Thats why the price is different. The market is still young and small. Crypto is still not mainstream. When it is, the markets will allign. Link to comment Share on other sites More sharing options...
syns75 Posted January 1, 2018 Share Posted January 1, 2018 https://coinmarketcap.com/faq/ How are the prices calculated for the various cryptocurrencies? Price is calculated by taking the volume weighted average of all prices reported at each market. Sources for the prices can be found on the markets section on each cryptocurrency page. Also, I believe that different fees on different exchanges to trade and deposit/withdraw cryptos and fiat money influences the price discrepancies in addition to the different regulatory environments, if any, for each country. But the different "pools" of traders and or investors and there time horizon and investment objectives influence the prices. These are not all the drivers but are what I can attribute to the price differences. Link to comment Share on other sites More sharing options...
John_Buh Posted January 1, 2018 Share Posted January 1, 2018 11 minutes ago, syns75 said: I believe that different fees on different exchanges to trade and deposit/withdraw cryptos and fiat money influences the price discrepancies in addition to the different regulatory environments, if any, for each country. But the different "pools" of traders and or investors and there time horizon and investment objectives influence the prices. These are not all the drivers but are what I can attribute to the price differences. However, back in the good 'ol days a month ago when XRP was bouncing along around .23-.25 Gatehub and Bitstream were very close. I think Gatehub is having major trouble these days. Just an observation. Link to comment Share on other sites More sharing options...
LordAMV Posted January 1, 2018 Author Share Posted January 1, 2018 So does this then mean that I could buy at a discount on one exchange and sell at a premium on another exchange? Forgive the naive question, but that's the first thing that comes to mind. I assume the various fees from each exchange would keep something like that to a minimum? Link to comment Share on other sites More sharing options...
LordAMV Posted January 1, 2018 Author Share Posted January 1, 2018 (edited) 11 minutes ago, XRP_FER_ME said: However, back in the good 'ol days a month ago when XRP was bouncing along around .23-.25 Gatehub and Bitstream were very close. I think Gatehub is having major trouble these days. Just an observation. Can you explain what you're referring to about GateHub? What kind of problems? Kraken seems to be the most difficult to deal with - in my case they're not even allowing authentication. Edited January 1, 2018 by LordAMV Link to comment Share on other sites More sharing options...
syns75 Posted January 1, 2018 Share Posted January 1, 2018 Arbitrage is a possibility but you would have to really understand the fees/costs involved when you buy on one exchange and then sell on another and convert it back to fiat money and transfer it back to yourself. In theory there seems to be opportunities out there but I have not personally tried as I have limited access to exchanges unless they have a NY Bitlicense and the only one I believe is Coinbase which doesn't offer XRP trading....yet. Please correct me if I'm wrong. Link to comment Share on other sites More sharing options...
syns75 Posted January 1, 2018 Share Posted January 1, 2018 I use Gatehub which is an exchange and wallet that is endorsed by Ripple. Link to comment Share on other sites More sharing options...
LordAMV Posted January 1, 2018 Author Share Posted January 1, 2018 syns75 - correct, Coinbase doesn't offer XRP yet, but I believe that some articles have stated the recent uptick is due to rumors that Coinbase was going to begin offering XRP in 2018. Of course others said it was because they were garnering a great deal of interest from some major banks, so I don't know which is true, if it's a bit of both, or neither. I guess in line with my original question, is there an exchange that people recommend here? Also, is it generally wisest to transfer everything you'd like to hold to a hardware wallet (as opposed to holding on an exchange's wallet)? Link to comment Share on other sites More sharing options...
syns75 Posted January 1, 2018 Share Posted January 1, 2018 https://ripple.com/xrp/buy-xrp/ Here is a list of exchanges that are listed on the ripple website... Link to comment Share on other sites More sharing options...
syns75 Posted January 1, 2018 Share Posted January 1, 2018 Ledger Nano S Cryptocurrency hardware wallet Ledger Nano S is a secure Bitcoin, Ethereum and Altcoins hardware wallet, great for storing cryptographic assets and securing digital payments. The user-friendly device connects to your computer through an available USB port and provides a built-in OLED display to double-check and confirm each transaction with a single tap on its side buttons. Based on robust safety features, Ledger Nano S ensures your confidential data (such as private keys) is never exposed – sensitive operations are isolated inside your hardware wallet within a state-of-the-art Secure Element, locked by a PIN code. And transactions can’t get tampered with, because they are physically verified on the embedded screen with a simple press of a button. Ledger Nano S includes Bitcoin, Litecoin, Ethereum and Ethereum Classic companion apps, and other blockchain-based cryptocurrencies. You can send and receive payments, check your accounts and manage multiple addresses for each currency from the same device. Nano S also supports the FIDO Universal Second Factor standard that simplifies the authentication process on compatible online services such as GMail, Dashlane, Dropbox or GitHub. Link to comment Share on other sites More sharing options...
syns75 Posted January 1, 2018 Share Posted January 1, 2018 the nano s provides a physical layer of verification to thwart theft Link to comment Share on other sites More sharing options...
LordAMV Posted January 1, 2018 Author Share Posted January 1, 2018 6 minutes ago, syns75 said: the nano s provides a physical layer of verification to thwart theft Can you carry XRP on it? Link to comment Share on other sites More sharing options...
syns75 Posted January 1, 2018 Share Posted January 1, 2018 https://ledger.zendesk.com/hc/en-us/articles/115005177349-How-to-install-and-use-XRP-Ripple- How to install and use XRP (Ripple) Alexandre 1 day ago Updated Follow The Ledger Nano S and The Ledger Bue manage XRP token. It works on Windows (7+), Mac (10.8+), Linux. It requires one USB port to plug your Ledger Nano S or your Blue. it doesn't work on Android and iOS. The Nano and the HW.1 don't support XRP. To create and launch your XRP wallet: If you have a Nano S, first make sure you run 1.3.1 firmware. To know if you need to update, open the Settings on the Nano S itself, and go to Settings > Device > Firmware. Follow these steps if you need to upgrade. The Blue doesn’t require any specific firmware. 1. install the Ledger Wallet Ripple application on your computer Go to this page and click on the "GET THE APP" green button Download the Ledger Wallet Ripple application (the application is signed by an "Epic Dream SAS" certificate) Open the downloaded folder to install it: - On Mac, you must run a 10.8+ OS - On Linux, don't forget to set up the updev rules - On Windows, you must run at least Win7: click on "Additional Information" to launch the installation despite the anti-virus warning (it won't affect the integrity of your PC) 2. install the Ripple application on your device via the Ledger Manager Launch the Ledger Manager (click to see how to install and use it if you don't have it installed yet) Connect your Nano S or your Blue, enter your PIN, and stay on the dashboard. Click on the green bottom arrow icon near the Ripple logo Confirm the installation when required on your device. Quit the Ledger Manager If you read "Unable to install application" error message it can be displayed for several issues described here. These 2 first steps are only required once. Now everything is ready to manage your Ripple account. 3. Once these apps are installed, to open your XRP account, just: Open your XRP application on the device itself Disable the "Browser support" setting of this Ripple app Ripple > Settings > Browser support ON A NANO S - scroll with the right button to find the "settings", press both buttons to open them - scroll with the right button to find the "browser support", press both buttons to open it - select NO by pressing both buttons to disable the browser support ON A BLUE - tap on the top left menu - disable the "browser support" by taping on it to make the slider displayed in grey Close all other wallets or manager on your computer Launch the Ledger Wallet Ripple on your computer (not from Chrome) The wallet synchronizes and opens HOW DOES IT WORK This application is an account manager, where you can send and receive Ripple transactions and check your balance. The only way to open it is to connect your Nano S or Blue, make your PIN code and launch the Ripple app on your device. Without the device, the app won't launch. For each sending transaction, your application will ask you to verify it on your device: your device will display the amount, recipient address and gas rate you will have to manually sign by confirming everything is alright on the device. In XRP protocol, to create a new account you need to initialize it with a funding of at least 20 XRP. An account under 20 XRP is considered as not exiting. Thus, your balance must always be at minimum 20 XRP and you are not allowed to make transactions that would result in your balance going under this limit. UPDATES When an update is available your desktop application will display a message to download and install the last release. Link to comment Share on other sites More sharing options...
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