Published: 2018-11-04 09:04:05
What Is XRP Text?
XRP Text is an instant payment system that lets its users transfer crypto through a text message. Initiation of token transfers is done through keying specific commands portrayed as text messages on the users phone which is first done to the personal crypto wallet of the user, from where the tokens are now transferred to the recipient. There are no registration requirements on the platform since only the user’s phone numbers are used.
XRP Text Services
Users can send a specified amount of XRP tokens to a mobile phone number they choose to enter. In case the user does not include a country code on the recipient’s number, then the system automatically uses the code of the user’s number. Users can add a currency in USD or EUR after the amount to be transferred so that it can be auto-converted to the current XRP amount with basis on Bitstamp rates.
Users can also deposit amounts using XRP Text in such a way that the system sends a destination wallet address and the user’s personal destination tag via text to the user, allowing them to fund their XRP text accounts.
Users can withdraw specified amounts of XRP tokens to their wallets. The withdrawal transaction is immediately processed by the system. In order to specify a destination tag for their withdrawal, users can append a colon or space.
How XRP Text Sending Ripple-Based Coins Via Text Messages Works
Users send commands to the system in terms of deposit, withdraw, or send funds to another recipient’s mobile phone number by sending a text message to one of the XRP Text bot numbers in accordance with their country of origin. The user then receives a text message that has unique seven digits code of which they are required to reply the code to the XRP Text bot so they can confirm the sending or withdrawing of funds.
In the case that the user is sending funds to another person, both the user and the recipient get a text message thus XRP can also be sent to people that have never used the service before.
TWILIO service is used for the sending and receiving of text messages. The service charges small amounts for the messages that the user sends. XRP Text bot then converts the fee charged to XRP and charges it on the users account balance.
XRP Text Benefits
The service is very convenient and user-friendly in that it does not require many registration details for it to be used. The only requirement is the user’s mobile phone number that is used to send the text message to the bot.
Transactions are done automatically and instantly in the system. The user only sends commands through a text message to the XRP Text bot, upon which they receive a confirmation code text, which they send back to the system to confirm the transfer.
Minimum Transaction Fee
XRP Text charges a small amount to its users for the text messages sent and received through the TWILIO service, which is converted to XRP tokens and charged to the account balance of the user. The charges vary from USD 0.01 to up to USD 0.09 according to the country of origin of the user.
The views and opinions expressed in the article Send Ripple-Based XRP Coins Via Text Messages? do not reflect that of 48coins.com nor of its originally published source. Article does not constitute financial advice. Proceed with caution and always do your own research.