According to Xumm, the development represents the team’s efforts at “bringing secure and frictionless trading to browsers.”
Xumm, the prominent XRP Ledger self-custody wallet developed by XRP Ledger (XRPL) Labs, has launched unhosted.exchange, a new browser-based decentralized exchange on the XRP Ledger. The move aims to introduce “secure and frictionless trading” to users who prefer trading their assets with browsers.
The team behind Xumm unveiled the web-based DEX in a recent tweet, noting that the exchange is fully operational and exclusively available to Xumm Pro users in an early access stage. According to the team, the DEX will be available to the general public in May.
🚨 Xumm Pro users enjoy your early access to: https://t.co/acT2ZvOW00
We are bringing the popular DEX xApp to browsers, available to all in May!
Secure and fast trading, all within your favorite browser. Upgrade to Xumm Pro 🌟 & join the evolution!#XRP #XRPL #Xumm pic.twitter.com/dcoch6pOFd
— Xumm Wallet (@XummWallet) April 6, 2023
It bears mentioning that XRPL has one of the world’s oldest decentralized exchange which has been running on the protocol since the network’s launch in 2012. Nonetheless, the XRPL native DEX does not have a web version, presenting a limitation for users who wish to access it through their browsers.
Unhosted.exchange is the answer to this issue. According to an official blog release from Xumm, unhosted.exchange is a mirror copy of the age-old XRPL native DEX with a clean interface and fully accessible to users on all major web browsers. The product was developed by XRP Labs, the team behind Xumm, and represents their first web-based trading platform.
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Due to its nature as a decentralized exchange, the platform allows users to buy, sell and carry out trades for any asset on XRPL without the need for a central authority. The Xumm team has also noted that all processes come with no extra fees from them. Users also benefit from 24/7 support from Xumm and an opportunity to trade on custom pairs.
Xumm Continues to Enhance Trading on XRPL
The recently-launched web-based DEX comes merely three days after Xumm teased its introduction, leading to speculations on whether the team plans to improve the features of the native XRPL DEX or unveil an entirely new decentralized exchange.
The latest development is part of the elaborate effort carried out by Xumm as it looks to enhance trading on the XRP Ledger for users. The team announced the integration of Stably as a xApp on the Xumm wallet last month – a move that opened the doors for on/off-ramp features for users in the United States.
The move allowed American users to seamlessly buy Stably-USD with their fiat USD, which would then be deposited to their XRPL accounts to be used for the purchases of other assets on XRPL.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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FAQs
As decentralized finance (DeFi) as a whole moves towards a more secure and user-empowered future, Xaman is ready with the right tools and the right approach to help users navigate this new era of digital finance. We recently started rebranding from Xumm to Xaman, marking a significant milestone in our journey.
Is my XRP safe on Xumm? ›
Xaman (formerly Xumm) is an excellent application for making payments on the XRP Ledger (XRPL), interacting with the XRPL ecosystem and for safely storing your private keys.
Can Xumm wallet be hacked? ›
A Xumm card will generate a set of private keys on the card. They never leave the card. No one will ever see them, (including you) and there is no way to access them. You can never be tricked into giving your account secret away and the only way to access your account is by having the card with you.
What is Decentralised exchange for XRP? ›
The XRP Ledger has possibly the world's oldest decentralized exchange (sometimes abbreviated "DEX"), operating continuously since the XRP Ledger's launch in 2012. The exchange allows users to buy and sell tokens for XRP or other tokens, with minimal fees charged to the network itself (not paid out to any party).
Is XRP fully decentralized? ›
The XRP Ledger is the decentralized blockchain that the XRP token operates on. It's the technology behind XRP, recording all its transactions. Although many preach otherwise, the XRP Ledger is decentralized.
Is Xumm a good wallet? ›
Ratings and Reviews
In my mind, XUMM is by far the best way to interact with the XRPL and best place to store your XRP and XRPL tokens, outside of cold storage. The app is clean and chic and intuitive. The account worth feature is a godsend and more xdApps are showing up every day.
What happened to Xumm? ›
Xumm Wallet rebranded to Xaman in December 2023 in a landmark move for the popular XRP wallet. The change represented more than just a rebrand, as the latest update was focused on integrating the Xahau Network chain built on the XRP ledger, which has smart contract capability.
How do I cash out XRP from Xumm? ›
If you create an account with an exchange that supports the XRP Ledger, you should be able to send your XRP to your account with them and they will convert your XRP into fiat for you.
What is the safest XRP wallet? ›
Best Ripple XRP Wallets
- Ledger. Ledger is a well-known brand in the realm of hardware wallets, offering compatibility with Ripple (XRP) and various other assets. ...
- Trust Wallet. Trust Wallet provides a comprehensive suite of security features to safeguard your Ripple (XRP) assets. ...
- Atomic Wallet. ...
- Exodus Wallet. ...
- Trezor.
3. Zengo Wallet – Secure and Anonymous Crypto Wallet Using MPC Cryptography. Zengo Wallet is a highly secure crypto wallet with nearly 1 million users around the world. The wallet's developers claim that it has never been hacked, a lofty claim for any crypto wallet.
Xumm, also known as Xaman, is a self-custodial mobile cryptocurrency wallet for the XRPL blockchain.
Does Xumm require KYC? ›
Do I have to go through the KYC process to use Xumm? No. It is entirely optional. Xumm is a self-custodial wallet and our services are not yet regulated.
Which exchange is best for XRP? ›
You can trade XRP with stablecoins on 112 XRP exchanges. The majority of XRP trading with stablecoins is done on Binance Futures. KuCoin is the best choice when it comes to trading XRP with stablecoins.
Does XRP have a future? ›
If you believe in the long-term potential of Ripple's cross-border payment system and expect a favourable resolution, XRP might present a buying opportunity. However, always consider the inherent volatility of the cryptocurrency market and the possibility of further price fluctuations.
Does XRP have a limited supply? ›
Unlike most cryptocurrencies, XRP is pre-mined, with a maximum token supply of 100 billion.
What is the best decentralized wallet? ›
The Top Decentralized Wallets Ranked
- Best Wallet – The Overall Best Decentralized Wallet for Crypto Investors.
- Zengo – Free Mobile Wallet App Without Seed Phrase Vulnerabilities.
- Exodus – Popular Wallet for Desktop Users With Windows, Mac, or Linux.
- ELLIPAL Titan 2.0 – Best Option for Safely Keep Coins in Cold Storage.
FreeWallet is an open-source wallet for Bitcoin (BTC) and Counterparty (XCP), the world's first protocol for decentralized financial tools. It is built using Javascript, Bitcoin libraries and Counterparty software.
Which cryptocurrency is truly decentralized? ›
As limited as Bitcoin is functionally, it is the most decentralized cryptocurrency with the prevalence of Bitcoin's fractional shares. However, Ethereum has more potential and can be successful.
