Ethereum: How can a currency be added to Ripple?

Adding New Cryptocurrencies to Ripple: A Step-by-Step Guide

Ripple, a leading cross-border payments and asset transfer platform, has long been known for its integration with various cryptocurrencies. One of the most exciting developments in recent times is the ability to add new currencies to the Ripple network. In this article, we will walk you through the process of adding new Israeli Shekels (ILS) to your Ripple wallet.

Why Add ILS?

Before we dive into the process, it is important to understand why you would want to add ILS to your Ripple wallet. ILS is a widely accepted cryptocurrency in Israel, and its addition can open up new opportunities for users who want to make cross-border payments, transfer assets, or participate in decentralized finance (DeFi) applications.

The Trust Page

To add a new currency to your Ripple wallet, you need to log in to the Trust Page. The Trust Page is where you can manage your cryptocurrencies and set up new ones. Here’s how to get started:

• Log in to your Ripple account.

• Go to the
  Trust tab.

• Click the
  Add New Crypto button.

The New Crypto Selector Menu

After clicking the “Add New Crypto” button, you will see a selection menu where you can choose from various cryptocurrencies supported by Ripple. In this case, we are looking for Israeli Shekels (ILS).

• Select the “Israeli Shekel” option from the list.

• Select the desired wallet type:
  Desktop Wallet

  

  ,
  Mobile App, or
  Web Wallet.

Adding ILS to Your Ripple Wallet

Once you have added ILS to your Trust page, it’s time to set up your wallet. Here are the steps:

• Return to the Trust page and select the “ILS” cryptocurrency from the list.

• You will see a button labeled “Add Balance.” Click on this button.

Add Funds

To add funds to your ILS wallet, you will need to follow these additional steps:

• Log in to your ILS wallet (e.g. Ledger Live or MetaMask).

• Deposit the funds into your Ripple wallet using the ILS address provided by Ripple.

• Once the deposit is confirmed, you can use the funds in your Ripple wallet to make new transactions.

Additional Tips and Considerations

• Please note that adding a new currency to your Ripple wallet may incur some additional fees depending on the specific cryptocurrency and exchange rate.

• Make sure to test your ILS balance before making any transactions to ensure it is correct.

• Always follow best practices for secure online transactions to protect your funds.

By following these steps, you should be able to successfully add Israeli New Shekels (ILS) to your Ripple wallet. With this integration, you will have access to a wide range of new use cases and capabilities for cross-border payments, asset transfers, and decentralized finance applications.