What is the base reserve?
The base reserve is a permanent minimum balance that can never be spent, sold, or transferred—it’s not a fee. It's a built-in feature of the XRP Ledger—not something Sharesies Crypto charges or controls.
How it works with Sharesies Crypto
The first time you transfer in XRP, 1 XRP is automatically set aside to meet the base reserve. For example, if you transfer 200 XRP, you’ll receive 199 XRP in your Sharesies Crypto account.
Once the reserve is met, no further XRP is deducted.
Please note: there's a $100 USD minimum transfer amount per coin.
Why does the XRP Ledger require this?
The base reserve exists to prevent spam on the XRP Ledger. By requiring a small amount of XRP to activate and maintain a wallet address, the network discourages the creation of large numbers of low-value or inactive wallet addresses.
You can read more in the XRP Ledger documentation:
What if I close my account?
The base reserve can't be returned—it remains locked in your wallet address permanently, even if you stop using Sharesies Crypto. This applies to all XRP wallets at Sharesies Crypto.
If you have questions, get in touch with our customer wealth team at help@sharesies.co.nz.
Sharesies Crypto is offered by Sharesies Crypto Limited.