wXRP added Bemarketbit, deposits and trading will open soon * Crypto News Today
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Bemarketbit opens deposits and trades wXRP

wXRP is based on the Ethereum ERC20 standard. According to a blog post, withdrawals for this cryptocurrency will be added later.

Bemarketbit warns that deposits in Wrapped XRP will be credited as XRP and users will be able to start trading them immediately.

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What is Wrapped XRP and what is it for?

wXRP is a token backed by XRP 1:1 and can be exchanged or sent to blockchain alternatives to XRPL. The XRP reserve that can be exchanged for wXRP belongs to the Wrapped DLT project, which “wraps” the original coins, allowing them to be used in new blockchain networks such as Ethereum wallets and dApps, including DeFi.

wXRP can also be used for betting in liquidity pools on several venues, including Sushiswap and Unicorn. Thus, wXRP provides more new options for using XRP.

Bemarketbit reserves in wXRP are managed by the Hex Trust custodian. The wXRP ticker stands for “wrapped” XRP, created in part by the Wrapped project. However, you can wrap a Ripple-linked coin through other platforms as well.

Online-money exchange rates list