How much does it cost to use LocalRipple.co?
- Buying XRP is free of charge
- Selling XRP is free of charge
- Posting offers is free of charge
LocalRipple.co will retain a flat 1% fee from all transactions insured by our escrow service. This fee is paid by the person that created the trade offer.
LocalRipple.co does not perceive any other fees or taxes for any other activity within the platform.
Understanding what LocalRipple.co charges and howTo better explain how the fees system works let us split our members into two categories:
- traders - members that create trade offer listings regardless of the trade offer type, purchase or sale.
- clients - members that either buy or sell XRP through a "trader's" posted offer.
The flat 1% fee retained by LocalRipple.co will always be paid by the "trader", regardless of the transaction type. Any action taken by a "client" within the platform is free of charge.
The fee is retained from the "trader" based on the type of transaction :
- If the "trader" is buying XRP, the fee will be retained when the escrow XRP payment is released to the trader.
- If the "trader" is selling XRP, the amount that the "trader" must deposit into the escrow includes the fee.
The action of posting a trade offer is free of charge. The fee is only applicable when / if a transaction has been initiated by a "client".