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Buy Ripple – Instructions on how to buy XRP

Ripple (XRP) is a decentralised peer-to-peer (P2P) network with the primary goal of providing financial institutions with a fast and affordable international payment infrastructure. It allows users to transfer money digitally, whether via fiat money or cryptocurrencies such as Ethereum or Bitcoin. It works through an open-source platform called RippleNet, which is powered by a network of servers to ensure fast and economical transactions.

RippleNet has named its cryptocurrency token XRP. At the time of writing, the Ripple price is $0.232 with a market capitalisation of more than $23 billion. All XRP tokens are pre-mined and used to denote the transfer of funds through RippleNet.

Phillipp Schuster

Verified writer

Updated September 21, 2021

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Buy Ripple instantly in 5 steps!

1 Visit the platform we recommend for buying Ripple.

2 Fill in all the requested information and open an account.

3 Capitalise your account using your preferred payment method and confirm your account balance.

4 Select Ripple and click “Instant/Market Order” to buy your coins immediately.

5 Enter the amount (you’ll see the equivalent in XRP) and confirm your purchase.

Buying Ripple through a broker

Traders and investors who want a good investment are very selective in choosing their trading platforms. They want to invest in platforms that are not only regulated and recognised, but also offer the convenience of trading, low transaction fees, exceptional customer service and security. You can also rely on online reviews and testimonials to judge a trading platform’s reputation.

You want to focus on your investment strategies and make profits. Any trading platform that has technical issues or poor customer service will provide you with a poor investment experience that can hinder your progress.

1 register with the broker
2 verify your identity (KYC process).
3 deposit money using your preferred payment method.
4 open a position for long / short XRP.
5 close your position

Should you buy or trade Ripple?

Remember that buying and trading XRP are two completely different things. Buying XRP on an exchange is different from trading XRP through a broker. You need to understand what your underlying purpose of investing is to ensure you are on the right platform.

What is the difference between a Ripple exchange and a broker?

A Ripple exchange is a platform that allows you to exchange popular cryptocurrencies like Bitcoin and Ethereum for other altcoins. Hence the name “cryptocurrency exchange”. If you want to hold long-term positions and get the best exchange rates, consider a cryptocurrency exchange.

If you want to earn a second income that can supplement your primary income, trading is a better option. For this, you need to rely on a crypto broker where you can quickly buy and sell XRP-related financial instruments such as futures, options and contract for differences (CFDs). In this scenario, you want to take advantage of the volatility of the cryptocurrency market to make short-term profits. You can also use your trades, but only use this option if you have mastered the art of investing.

Ripple: Long Vs Short Term Investment

Long-term investments occur when you firmly believe that the price of XRP will continue to rise for weeks and even months, so you hold on to the coin for the long term. Or you simply believe in the project and want it to succeed. So you hold XRP to make a contribution. For such people, the crypto exchange is a better option.

Short-term investments are made when you are not looking for long-term future prospects for the currency. You just want to take advantage of the short-term volatility of XRP to make profits and get out. Then a reputable and regulated broker makes a wise choice. This way, you don’t have to set up a wallet and transfer your tokens to your exchange’s account.

Crypto Prices (USD)
Bitcoin

Bitcoin

$62082.54
–0.12%
Ethereum

Ethereum

$3795.14
+0.25%
Binance Coin

Binance Coin

$490.14
+0.03%
Cardano

Cardano

$2.13
+0.03%
Tether

Tether

$1
+0.01%
XRP

XRP

$1.09
–0.18%
Solana

Solana

$157.32
+0.05%
Polkadot

Polkadot

$40.97
–0.16%
Dogecoin

Dogecoin

$0.25
+0.29%
USD Coin

USD Coin

$1
+0.01%

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The Editorial Team

Phillipp Schuster

Phillipp Schuster was already interested in emerging technologies before he started his studies in the field of business informatics. In particular, the revolutionary potential of blockchain technology excited him and contributed to his professional focus on digitalisation. Besides technical topics, Phillipp is very interested in the tokenisation of assets and possible use cases of DLT in the IoT.

3 Tips for Buying Ripple

Now that you’ve developed a basic understanding of how buying XRP works, let’s take this moment to share some quick but valuable tips with you.

1 Choose the right time and do your own research on XRP
2 Compare costs to buy Ripple
3 Security when buying Ripple

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According to their website support forum, this is “for security, regulatory compliance and fraud prevention”. The limits are based on several factors that include the payment method you used, how old your account is, your purchase history, and more. These limits are calculated automatically.

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Buying Ripple via a crypto exchange

Buying XRP through a cryptocurrency exchange is preferable if you want to hold onto your Ripple tokens for the longer term. This strategy is ideal for traders who believe XRP will continue to improve in price, or for people who want to contribute to the Ripple blockchain goals. Choosing an exchange is no different from choosing a broker, as you need to check a variety of factors.

Besides evaluating the exchanges for their regulatory compliance and reputation, you also need to find out what it costs to buy, sell or trade XRP on the exchange. Likewise, you should consider the platform’s convenience, customer support, security measures and overall reliability. You should always keep in mind that not all exchanges comply with regulations and industry best practices. While they may offer more incentives, they also pose a higher risk to your personal data and money.

1 1. Set up a Ripple Wallet

Before buying XRP, make sure you have dedicated software or a wallet to store your coins in. This may seem like a daunting task, but the cryptocurrency space has evolved and these processes are now easier and more straightforward than you can imagine. Depending on the amount of time you need to store your Ripple currency, you can choose different types of wallets, including the following:

  1. Exchange / Web Wallets – This is the most convenient, but least secure option to store your XRP for longer periods of time. Some exchanges have additional security measures, but do not yet have the security cushion of a dedicated wallet.
  2. Desktop / Mobile Wallets – You can get software wallets for your desktop PC and smartphone (iOS and Android). These offer a wide range of features and adequate security.
  3. Hardware Wallets – Also referred to as Cold Wallets, these are the ideal storage solution for your XRP tokens. They have the hardware to store your digital assets securely and are completely disconnected from the internet. They look like flash drives, so you can back them up or take them anywhere.

As an investor, you are also responsible for making sure your funds are safe. Make sure you use two-factor authentication (2FA), different passwords for different accounts and passphrase protection.

2 2. Choose and join an exchange that sells Ripple.

There are many leading cryptocurrency exchanges, including Binance, CEX.io, Coinmama and Coinbase, that offer XRP and other cryptocurrencies. Analyse all these exchanges and find out which one suits your needs best.

You need to take into account that different exchanges have different registration processes depending on the regulations they comply with. Some only ask for basic information, while others thoroughly verify your identity by requiring documentation. Regulated exchanges are much safer than unregulated ones.

3 3. choose your payment methods to buy Ripple

Once you’ve chosen your crypto exchange, it’s time to review the different payment methods it offers and determine which one best suits your needs. For example, you can buy XRP via wire transfer, debit card and other e-payment methods, but you need to consider speed, convenience and fees.

You can also integrate your bank account with the exchange to make the payment process much more seamless. Your fiat currency is always ready to buy XRP or any other tokens you may want to purchase. Regardless of which payment mode you choose, it’s a smart idea to use an exchange that verifies everything so you know you’re buying Ripple from a trusted exchange.

4 4. Place an order to buy Ripple.

To buy an altcoin like Ripple, you may need to buy a more popular currency like Bitcoin or Ethereum first, depending on which exchange you’re on. Some exchanges will sell you XRP directly for traditional payment methods, but others may not.

Choose your fiat currency first before deciding how much XRP to buy. Generally, there is a calculator that tells you how much XRP you can buy with that amount. Once you have selected your currency and the amount, you can send your purchase request via. If your 2FA is enabled, you may receive an OTP for transaction authentication. Once this is done, XRP will appear in your account.

5 5. securely store your XRP in a wallet.

If you don’t want to keep your XRP for long, you can leave it in the exchange’s account or wallet. This way, you also don’t have to pay withdrawal fees. However, if you want it to last longer, say more than a week, it is better to transfer the money to a special wallet. To transfer the money to your wallet, you need the public key, which you enter in the text field “Recipient address” and determine the amount you want to transfer to your wallet.

If you have re-enabled 2FA, you may receive a one-time password (OTP) for transaction verification. Note that some exchanges like Binance do not allow you to transfer your XRP within 24 hours of purchase.

What is the best payment method to buy Ripple?

Other ways to buy Ripple

The above methods are most popular to buy Ripple and trade XRP on various platforms. At this point, you are far better prepared to buy XRP and invest in cryptocurrencies than you were before reading this guide. We will conclude this guide with some lesser-known options that can also be used to buy Ripple. Peer-to-peer (P2P) exchanges – These are platforms that connect buyers and sellers of cryptocurrencies. Instead of dealing with the platform, you can deal directly with the individual buyer. The advantage here is that you can set your own terms and conditions to find the right deal. Be sure to check the buyer’s reviews before investing in XRP. Since Ripple tokens are mined in advance, you cannot earn them through a mining process. We will conclude here for now and add new information as it comes in. Now you can start your XRP journey. Remember, we have already reviewed a variety of exchanges and trading platforms to select the best brokers and exchanges for you. They are among the most reputable and trusted services in the cryptocurrency space.

FAQ

1. Can I buy Ripple without paying any fees?
2.What is the difference between buying XRP and trading XRP?
3.When is the right time to buy Ripple?
4.What is the minimum buy limit for Ripple?
5.Is it legal to buy Ripple?
Phillipp Schuster, Currency Strategist & CEO

Phillipp Schuster was already interested in emerging technologies before he started his studies in the field of business informatics. In particular, the revolutionary potential of blockchain technology excited him and contributed to his professional focus on digitalisation. Besides technical topics, Phillipp is very interested in the tokenisation of assets and possible use cases of DLT in the IoT.

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