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Compare Ripple alternatives: 3 top competitors

Your guide to three leading Ripple alternatives and how they compare to XRP.

Launched with a mission to transform the international payments industry, Ripple offers a real-time settlement network for fast and affordable cross-border transactions. XRP, Ripple’s native currency, is used to facilitate transactions on Ripple’s global network.

However, Ripple isn’t the only cryptocurrency project looking to make waves in the world of international payments, so let’s take a look at three leading Ripple alternatives.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

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At a glance: 3 Ripple alternatives

1 - 2 of 2
Name Product Ticker symbol Use Year released
Stellar Lumens
XLM
Cross-border Payments
2014
More Info
Nano
NANO
Digital Asset
2015
More Info
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An in-depth look into 3 Ripple alternatives

1. Stellar lumens (XLM)

If you’ve spent any time at all analyzing the strengths and weaknesses of Ripple, you’ll no doubt have come across comparisons between Ripple and Stellar – and with good reason. Programmer Jed McCaleb played a key role in Ripple’s development, and after he left the company following a difference of opinion, he moved on to co-found Stellar.

Similar to Ripple, Stellar also offers a distributed payments network designed to provide fast and cheap cross-border payments. By connecting banks, payment systems and people, and through the use of its lumens currency, Stellar allows international payments that can be processed within two to five seconds, with fees of 1/600,000th of a cent per transaction. There are other features to the Stellar network as well, including an ICO platform and a decentralized exchange.

Though they’re often listed as competitors, Ripple and Stellar have so far concentrated their efforts in different areas – Ripple on joining forces with major banks and financial institutions, and Stellar on providing low-cost financial services to people in the developing world. However, it remains to be seen which project has adopted the more successful approach.

How to buy Stellar Lumens

Where to buy Stellar

1 - 5 of 9
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Kraken
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay

7

207

Certain trading features are limited or unavailable to residents of Ontario and Quebec.
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Capital at risk

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Paybis Cryptocurrency Exchange
EXCLUSIVE
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Debit card, Neteller, Skrill, Apple Pay

60

87

Use code Finder25 to get a 25% discount on all commission for 1 transaction. T&Cs apply.
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OFFER
Bitbuy Digital Currency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer

1

39

Limited time only: Free $40* when you sign up and fund your Bitbuy account. T&Cs apply.
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OFFER
VirgoCX Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Interac e-Transfer, Wire transfer

2

78

Get a $20 bonus when you open a new account and deposit $100+. T&Cs apply.
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Changelly Crypto-to-Crypto Exchange
Credit card, Cryptocurrency, Debit card, Wire transfer, Apple Pay

58

391

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2. OmiseGO (OMG)

With a mission to “unbank the banked”, OmiseGO offers a peer-to-peer platform where users can quickly and securely exchange fiat and cryptocurrencies. Built on Ethereum, OmiseGO is developing a currency-agnostic decentralized exchange network capable of interacting with blockchains (eg bitcoin or Litecoin) through clearinghouses in state channels or smart contracts, as well as with digital fiat platforms through the use of collateralized fiat tokens.

OmiseGO also offers an e-wallet software development kit which is free to use and allows digital wallet providers to connect to the public OMG network so that their users can transact any digital assets.

The end goal is to overcome coordination difficulties amongst payment processors, gateways and financial institutions, providing a value transfer service that operates across currencies, asset types and national borders. Although OmiseGO is focused on the southeast Asian market, its network is designed to allow anyone to conduct real-time, peer-to-peer financial transactions, including everything from payments and remittances to B2B commerce and supply-chain finance.

If you’re searching for a cryptocurrency with similarities to Ripple, it’s well worth a closer look.

Where to buy OmiseGO

1 - 5 of 15
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Binance Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

71

370

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KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, P2P

50

743

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Capital at risk

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Bybit Cryptocurrency Exchange
Bybit Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

73

279

Disclaimer: Highly volatile investment product. Your capital is at risk.
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Gate.io Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card

8

1607

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Capital at risk

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Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT

8

222

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3. Nano (NANO)

Our third alternative to Ripple is something a little different. Unlike Ripple and its focus on banks and major financial institutions, Nano (NANO) is designed purely as a peer-to-peer digital currency.

Originally known as RaiBlocks, Nano offers instant, zero-fee transactions and is designed to be infinitely scalable. Launched in 2017, this innovative crypto combines blockchain with directed acyclic graph technology (DAG) in a unique “block-lattice” infrastructure. DAG systems see individual transactions directly linked to one another, offering improved scalability compared to blockchain-based systems.

In short, Nano is a payment currency and nothing more. It aims to become a viable alternative to fiat currency for everyday transactions, offering fast and cheap peer-to-peer payments all over the world.

This means it’s being developed with quite a different focus to XRP, and can’t boast anything like the level of financial support or the impressive range of corporate partnerships that Ripple can. However, Nano’s features do make it a viable choice for individuals and merchants, so it’s a coin worth watching closely in the months and years ahead.

Where to buy Nano

1 - 0 of 0
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
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Looking for more Ripple alternatives?

This is just a small selection of cryptocurrencies like Ripple. To find more coins and tokens with similar features and functions to Ripple, check out our comprehensive guide to altcoins.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Disclosure: At time of writing, the author holds ADA, ICX, IOTA and XLM.

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Written by

Tim Falk

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full profile

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