Exchange XRP to Bitcoin Lightning Network | FixedFloat – MOSQUITO CONTROL in Chicago IL

Exchange XRP to Bitcoin Lightning Network | FixedFloat

FixedFloat | Instant cryptocurrency exchangefixedfloat.ltd

Lightning cryptocurrency exchange

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.

A brief history of the Lightning Network

The Bitcoin community has long been baffled by the scalability issue. The speed of transactions fell, and the network fees grew. In 2015 Thaddeus Dria and Joseph Poon proposed a solution called the Lightning Network. The idea was to carry out some of the transactions outside the network, thereby reducing the load on the BTC blockchain. In 2018, the Lightning Network was launched in Bitcoin.

The Lightning Network is a system that helps users move funds among themselves without having to use a blockchain to verify a transaction. Instead, there is a quick check of funds from the sender and a request from the recipient who agrees to the transaction.

Problems you may encounter while getting the Lightning Network

  1. If during the creation of an order when inserting an invoice, an error occurs about the absence of a path, this means that there is no created channel between our node and your wallet node. A channel is required to send and receive payments on the Lightning Network. If there is no open channel between our node and your wallet node, the payment will not be executed. It is recommended to try using a different wallet.
  2. If the order page indicates that the order was completed, but you did not receive the funds, then the reason for this may be:

If your order is completed, but you have not received the funds, please contact technical support. We can help you quickly.

Lightning Network Speed

Since transactions on the Lightning Network do not end up on the blockchain, they are almost instantaneous. But if one of the intermediate nodes is off the network, the transaction may be delayed.

exchange in 3 easy steps

  1. Enter the desired amount of Ripple and write your wallet address to receive currency.
  2. Click the “Exchange now” button and you will be taken inside your order.
  3. Send Ripple to the address from your order, after the required network confirmation, Bitcoin (Lightning) will be sent instantly.

We use cookies to provide the best experience on our website. By using FixedFloat.ltd you agree to Privacy Policy and Terms of Service.

FixedFloat | Instant cryptocurrency exchangefixedfloat.ltd

Leave a comment

Your email address will not be published. Required fields are marked *