LIVE from Sibos: Mr. Mike Baldwin, Westpac on Ripple

Normal crypto-coins are a digital holding built to work as a medium of trade. Additional crypto-coins are added via mining. Everyone is able to do this if they've access to a device.

Mining requires a great deal of time and electrical power, though. A powerful computer is also vital, to mine effectively. However, Ripple is a centralised resource, which can't be mined. A fixed number of tokens were made by the firm and this number will not be added to. 

Keen to buy Ripple? The process is extremely easy but one must exercise caution, whenever initiating an online transaction of any sort.

Currently, over half of all buys are made over the net. Online shopping is convenient and easy, meaning that additional numbers of citizens are choosing this method instead of facing the hordes in the stores. The web also enables them to carry out better research and grab the most advantageous deals. Even so, there remains a shadowy side to e-commerce. These are the important guidelines, consumers should learn.

Only purchase from your own home. Criminals may easily access sensitive information when you use free-for-all wifi services, therefore it's safer to purchase from home than in internet cafes. Do not make purchases when waiting at bus stations, guesthouses or other free connected public areas.

Steer clear of Twitter/FaceBook links. Do not trust these sorts of deals as most URLs are deceptive. This means you cannot know if the link transports you to a genuine website.

Buy with a credit card. Never use a debit card. More than 50% of debit cards require that acts of fraud are reported in less than 2 days to get limit liability. Do not wire money to vendors. You cannot get your cash refunded if you do this. Be sure to check credit card statements. Place online receipts in a secure email folder, so you can crosscheck payments.

Don't provide any excess information. You don't need to provide a driver license number. Don't reveal your social security number either. If a company ask for this information, it is untrustworthy. Choose lengthy passwords that only you can remember. Then if your computer to save the password, always select 'No'. Should another individual gain access to your device then they could potentially find your credit card info.

Watch you don't get caught out by gift card scams. When you receive an email that says you've qualified to receive a gift card but also requests your credit card details, ignore it. Legitimate sellers will not ask details such as this. Please remember this, because it is vital that customers act wisely when shopping on the internet. Buy from home and make sure that the company is genuine.

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