Frequently Asked Questions
LocalRipple.co's F.A.Q section

General questions

What is LocalRipple.co?
LocalRipple is a peer-to-peer XRP exchange. We are a marketplace where users can buy and sell XRP to and from each other. Members, create advertisements with the price and the payment method they want to offer. You can browse our website for trade offers and search for a payment method you prefer.


How do I buy or sell XRP with LocalRipple.co?
To help you get started we made a couple of guides which explain every step of buying and respectively selling XRP.
To buy XRP please refer to this guide.
To sell XRP please refer to this guide.


How am I protected from being scammed?
The whole point of LocalRipple is to protect every member, both the buyers and the sellers from scams, and for that reason LocalRipple insures every single transaction made through our platform via our escrow service.
LocalRipple does not offer "face-to-face" trades because we can not insure such trades.


Can I buy less than one XRP?
No. Considering the price of one XRP is rather low, we restrict the minimum transaction amount to 1 XRP.


Why are the trade prices of some payment methods higher than others?
Unlike some traditional payment methods, the XRP transactions are irreversible. Considering this, members that post trade offers for payment methods that can be reversed, such as PayPal, put the trade offer prices slightly higher than usual to compensate for potential losses.


Where do I receive the XRP when I buy them?
When you register an account with LocalRipple.co you are required to complete your profile details before being allowed to initiate transactions. In your profile details you will fill your XRP wallet address, and all the trading you will do on LocalRipple.co will be through that XRP wallet address.


How long does it take to send or receive XRP?
The XRP network is one of the fastest out there therefor the sending / receiving normally takes a couple of minutes.


I don't want to disclose my personal details. Can I still trade on LocalRipple.co?
Yes. When you edit your profile details there is an option called "Trade anonymously". When used, it will hide every other field but the XRP wallet and country.


I don't want have a mobile phone. Can I still trade on LocalRipple.co?
Yes. Phone number verification is optional on LocalRipple.co


I don't want to disclose my personal details or verify my identity. Can I still trade on LocalRipple.co?
Yes. Identity verification is optional on LocalRipple.co, however, please keep in mind that other members may not trust you enough to accept a transaction with you if you skip the identity verification.


Where can I learn more about the XRP network?
There is a lot of information regarding the XRP network on their official website https://ripple.com



Common problems and their solutions

A trader is asking me for my ID, and I don't feel comfortable.
Sometimes a trader may ask for your ID. If you are trading for the first time with a trader he/she may ask for you to identify yourself, even if you've already verified your ID with LocalRipple. This is because in certain countries sellers are required by local laws to know who their customers are. Most sellers explain in the terms of the trade if they require ID verification or not.
If you do not wish to give the seller your ID, you can always cancel the trade and search for a trader with less strict requirements.

Always send your ID to the seller via the trade chat, our trade chat messages are kept encrypted on our servers and are deleted after 180 days. All photographs sent to the trade chat is also marked with a watermark to prevent misuse of the images.


I've paid the seller but I haven't received my XRP yet. Is this normal?
The sellers usually release the escrow payment as soon as they see your payment, which can sometimes take an hour or two. If you've paid but are still waiting there is nothing to worry about, for all trades are protected by escrow and the seller cannot run away with your XRP.

If there are any issues with a trade and the seller won't release your XRP, you can dispute the trade to have the LocalRipple support resolve it.

A dispute can no longer be started if the XRP payment have been released from escrow.

When a trade you're involved in becomes disputed, you'll receive a notification and an email, in most cases simply starting the dispute is enough to get the attention of your trading partner. A disputed trade is usually resolved within 24-48 hours.


I have lost my username, password and the email I used to register with LocalRipple.co
In case you have have forgotten your username, email and password which you used with LocalRipple, visit the contact page and send us an email. An agent will get back to you in order to handle the situation.


How do I change my phone number?
To do this you will have to create a support ticket with your request. Please be informed that after changing your phone number you will have to redo the verification process.



Creating trade offers

How much does it cost to create a trade offer?
Creating the trade offer is 100% free of charge, however, for each transaction that will be initiated via a trade offer you added to the market, you will be charged with a flat 1% fee of the transaction amount.


What is the price type?
The price type is an option we offer for trade offers which allows you to select between a fixed price and a so called "market price".

  • the fixed price is exactly what it's name suggests, a price that will remain fixed regardless of the XRP price fluctuations.
  • the market price allows you to set your trade offer price based on the current market price of the XRP coin. For example if you set a market price + 10% for your XRP sale trade offer, the price will increase or decrease based on the fluctuations of the market.
The market price is updated every 5 minutes and it is fetched from https://www.cryptocompare.com/


What are the so called "trade offer limits"?
When creating a new trade offer you can specify the minimum and maximum amount of currency you are willing to trade. These fields are optional.


What is the so called "minimum feedback score" option?
When creating a new trade offer you can restrict members that don't have a minimum specified feedback score from initiating a transaction. This field is optional.


What is the so called "share personal details" option?
When creating a new trade offer you choose to share your personal details such as your full name, your city and your phone number to the member that initiated the transaction. Your personal details will only be visible during the transactiona and will not be shown within the trade offer details page. This feature is optional.


Why is my trade offer not visible?
After submitting your trade offer it's status is automatically marked as "Pending". We manually verify each submitted trade offer. The approval process usually takes a couple of hours.


Can I edit my trade offer after it has been submitted?
Yes, you can, however any changes made to your trade offer will reverse it's status back to "Pending" and it will have to pass the approval process once more.