This ad promotes cryptocurrency within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in some EU countries and the UK., no EU consumer protection. Investments are subject to market risk, including the loss of principal.
Home » Buy Cryptocurrency » Buy Ripple (XRP)
Ripple is one of the most popular cryptocurrencies on the market, but in fact, it is much more than just a currency. Ripple is a real-time gross settlement system, a currency exchange and transaction network, and, of course. XRP is the digital currency used to perform such trades and it can also be traded on a variety of exchange platforms. First issued in 2012, Ripple has been used by a variety of banks and market platforms to monitor and manage their transactions. The currency and its supporting network offer fast, cheap and secure payments which are secure and irreversible.
You can invest in XRP on the following CFD trading platforms:
XRP is different from most cryptocurrencies since it cannot be mined. It is seen as a relatively stable currency in a sector known for extremely high volatility and is supported by numerous banks. This has led to increased interest in the coin, not only by institutions who consider using it but also by investors who consider it a good investment.
Ripple, or as it is more commonly referred to, XRP, can be bought from a variety of cryptocurrency exchanges and brokers in several ways. While the precise instructions and conditions to buy Ripple vary depending on the provider, you would generally follow this process:
With a market cap of around $5 billion, Ripple is currently the third-largest cryptocurrency, following Bitcoin and Ethereum. Just like other cryptocurrencies and assets, XRP’s value varies throughout the day and over different exchanges. The highest price ever recorded for the currency was $3.84 in January 2018, shortly after Bitcoin approached its $20,000 price mark.
Choosing the best place from where to buy Ripple depends on several preferences, including, which payment method you intend to use. The following payment methods are the ones most commonly accepted by online trading platforms and exchanges.
Credit and debit cards are popular payment methods since they are fast, secure, and easy to use. Using a card allows you to receive your Ripple (XRP) coins instantly, and you needn’t worry about converting your fiat currency since this is automatically done by your card issuer. However, it is also the most expensive option as it comes with the highest fees.
EXMO is one of the biggest cryptocurrency exchanges in Europe and is amongst the many platforms available to you if you intend to buy Ripple with a credit or debit card. The platform is a great place to start trading cryptocurrencies since it offers a user-friendly interface and access to a variety of major coins, such as Bitcoin and Monero. EXMO is considered to be extremely safe and has an average monthly trading volume exceeding $1.5 billion.
Plus500 is another platform that accepts credit and debit cards, but instead of buying Ripple coins, you can buy Ripple Contracts for Difference (CFDs). These advanced financial instruments obtain their value from the XRP coin and are traded on specialised markets. Trading CFDs often includes buying or selling on margin, and for this reason, such an investment is considered just as risky, and only suitable for experienced traders who understand the risks involved.
Other exchanges and trading platforms which allow you to buy Ripple with a credit or debit card include:
Buying Ripple with PayPal is more challenging than some might think, since PayPal is generally not accepted by the majority of exchange platforms. Although one of the world’s most popular eWallets is often accepted by online retailers, the high fees associated with supporting PayPal mean that exchange platforms with tight margins do not usually accept it.
This means that very often it is trading platforms which allow you to buy Ripple with PayPal. These trading platforms often specialise in offering CFDs, which you can trade based on your speculation of the coin’s future movements.
When using PayPal to buy Ripple you benefit from instant transfers and payments. PayPal also offers you the option to convert your fiat currency into one accepted by the trading platform. However, be aware that the cost of this conversion is sometimes higher than that charged by a bank or credit card company.
A few examples of trading platforms which allow you to buy Ripple with PayPal are:
It might surprise some in the crypto community that you can still use bank transfers to buy Ripple online. What’s probably more surprising is that most exchanges which accept fiat currency allow bank transfers. This method might be slow and inefficient, but it doesn’t usually cost the exchange to accept it, with the sender usually covering any expenses. As a result, most platforms do not charge any deposit fees for buying Ripple with a bank transfer.
One such example is Coinmama, which is amongst Europe’s oldest cryptocurrency exchanges still in operation today. While the exchanges charge a fee for those using credit or debit cards, buying Ripple with a bank transfer on Coinmama is free. While the exchange itself is not regulated, its parent company is registered as a Money Service Business with FinCEN. Both novice and experienced traders trust Coinmama for their exchange needs, thanks, in part, to its fast verification process and high limits.
Apart from Coinmama, the following platforms also allow you to buy Ripple with a bank transfer:
Although Ripple is sometimes considered to be the bank’s cryptocurrency, it is still possible to buy it anonymously in certain ways. One of the easiest options is to locate a Ripple ATM near you and use fiat currency to instantly buy the cryptocurrency. While there are certain limits on how much currency you can buy at a time, an ATM would not require any identification document, allowing you to remain completely anonymous.
Alternatively, you can opt to use Changelly, the cryptocurrency exchange known for its limited verification requirements. In order to open an account, you do need to provide some personal details, but currently, these are not verified with an ID document, allowing you to buy Ripple with a certain degree of anonymity.
A less secure way to remain anonymous and still get your hands on Ripple is to meet an independent broker or seller online and deal directly with them. You would probably need to provide some personal information, such as an email or telephone number, but generally, no ID document is asked of you. If you opt to buy Ripple in this manner you need to be particularly cautious of potential scams.
Once you have determined which payment method you intend to use, there are several providers which you can use to get hold of Ripple.
Cryptocurrency exchanges and brokers remain one of the most popular platforms from which to buy Ripple. Today, there are hundreds of different platforms and brokers located around the world, and choosing which one to use can be difficult. You should seek reputable platforms which provide you with the services that you require.
If you are a novice trader, buying Ripple for the first time, you should opt to use a platform which offers brokerage services, facilitating the buying and selling process for you. Once you have gained some experience you can move on to an advanced platform, which allows you superior charting tools, in-depth analysis, and possibly, the option to trade on margin.
Another consideration you should make is related to the fees of the different platforms. Brokerage platforms tend to charge higher fees for their “hand-holding” services. The lowest fees are normally charged by independent brokers who do not operate a platform and thus have lower operating costs.
Buying Ripple with cash is possible, but not at online locations. Ripple ATMs normally allow you to use cash to automatically and instantly buy Ripple and deposit it in your given wallet address. The process is extremely smooth and does not require verification, although you need to be fortunate and have a Ripple ATM close to your location. If there’s a Bitcoin ATM close by, however, it doesn’t sell XRP don’t worry. You can buy Bitcoin with cash from the ATM deposit that bitcoin in a cryptocurrency exchange such as CEX.io, and exchange your BTC into XRP.
Alternatively, you can try and meet a Ripple seller or independent broker online and agree to meet in order to settle the transaction in cash. This method is risky, and you must ensure that the cryptocurrency is transferred to your wallet as you make your cash payment so as not to become a victim of fraud.
A variety of cryptocurrency exchanges and brokers allow you to trade Ripple by using one of several different cryptocurrencies. In fact, until recently, Binance, one of the world’s largest exchanges, would only allow users to trade crypto to crypto, without any fiat currency. Trading Ripple with another cryptocurrency is fast and conversion rates are normally more favourable than with fiat currency.
In order to trade Ripple without difficulties or restrictions, you need to ensure that the platform you are using accepts users from your country. Cryptocurrencies are still banned in a few countries and restricted in other countries, including the US. In fact, trading platforms such as Plus500, ChangeNOW, and BitMEX do not allow US users to register an account. In most cases, you can check if your country is accepted by a particular platform during the registration process.
Ripple CFDs are the most innovative and convenient financial instrument for experienced traders to benefit from the currency’s price movements without having to own the coin. Apart from being able to use leverage to open larger positions than would be possible with their own capital, traders choose CFDs since they can benefit irrespective of whether Ripple’s price rises or falls.
Ripple CFDs can be traded on several platforms, including:
Trading CFDs can result in the loss of some or all your investment, so it is important that you understand the risks involved before you get started.
As with any cryptocurrency, Ripple needs to be stored securely in order to prevent cyber thefts, and the best way to do this is to use a cold storage wallet that supports XRP. As a primary digital currency, Ripple is accepted in a variety of wallets, including CoolWallet S and Ledger Nano X. Although these wallets can cost upwards of $80 they provide the best protection. Cheaper or free digital wallets also exist, although these are less secure.
If you do not wish to have the responsibility to securely store your Ripple currency you can opt to buy Ripple CFDs instead. Your ownership details will be securely stored on the trading platform, and since you are not buying the asset directly, you needn’t ever worry about protecting it.