Ripple

Using a common ledger that is managed by a network of independently validating servers that constantly compare transaction records, Ripple doesn't rely on the energy and computing intensive proof-of-work used by Bitcoin. Ripple is based on a shared public database that makes use of a consensus process between those validating servers to ensure integrity. Those validating servers can belong to anyone, from individuals to banks.

The Ripple protocol (token represented as XRP) is meant to enable the near instant and direct transfer of money between two parties. Any type of currency can be exchanged, from fiat currency to gold to even airline miles. They claim to avoid the fees and wait times of traditional banking and even cryptocurrency transactions through exchanges.

Why is there a fee for small deposits?

In highly active cryptocurrency wallets, the number of inputs coming in (deposits) and going out (withdrawals) is enormous. In times of high activity, many small wallet inputs and outputs cause technical delays and users have to wait longer to receive withdrawals.

Therefore Trader’s Way charges 20 XRP for deposits lower than 1000 XRP. Minimum withdrawal is the equivalent of 0.30 USD.

Requiring a minimum amount for withdrawals encourages users to combine multiple smaller withdrawals into fewer, larger withdrawals. This allows Trader’s Way to process requests more efficiently, and all users can enjoy faster service.

In some cases, it may prove necessary to withdrawal smaller amounts. Each user is therefore granted one small withdrawal per week.

Note: The Ripple network charges a 20 XRP fee for every new Ripple address you create to accept funds. Information can be found on the Ripple developer's page.