Where and How to Buy XRP – Invest with Low Fees Today

XRP is the cryptocurrency of the Ripple network and company of the same name. XRP has risen to become the 7th largest crypto by marketcap and Ripple is one of the most widely used blockchain-based payment systems after Bitcoin.

This guide shows you how to buy Ripple (i.e. how to buy XRP), explains where best to buy XRP, and covers whether XRP is still a good investment now in 2023.

How to Buy Ripple – Quick Guide

Best Exchanges to Buy Ripple in February 2023

How to Buy XRP – eToro Tutorial

Want more details about how to buy XRP? We’ll walk you through the complete process using eToro, which offers low fees and excellent trading tools.

1. Open an account with eToro – To get started with eToro, head to the broker’s website and click ‘Join Now.’ You’ll need to enter a new username and password, then fill in some personal details about yourself. You can also create an eToro account by signing up with your Google or Facebook login.

2. Upload ID – eToro is regulated by the UK Financial Conduct Authority (FCA), which requires the broker to enforce Know Your Customer (KYC) rules. As a result, you are required to upload a copy of your passport or driver’s license along with proof of your address – such as a bank statement or utility bill. Verification can be completed online in just a few minutes.

3. Deposit – eToro requires you to fund your new account with a minimum deposit of at least $50. You can use various payment methods, including a debit card, credit card, PayPal, Neteller, Skrill, or a bank transfer.

4. Buy XRP – From the eToro dashboard, use the search box at the top of the page to search for ‘XRP.’ When it appears, click ‘Trade’ to open a new order form. Enter the amount of Ripple you want to buy in USD. You can also choose to add a stop loss or take profit level to your trade. When you’re ready, click ‘Open Trade’ to buy XRP stock with eToro.

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What is XRP?

XRP, also known as Ripple, is a cryptocurrency launched in 2012. The cryptocurrency differs from other popular tokens like Bitcoin and Ethereum in several key ways.

First, Ripple is entirely pre-mined. That means that generating new XRP tokens doesn’t require enormous mining operations like Bitcoin. Transactions on the Ripple blockchain are validated by consensus among users, and new XRP is released to users monthly based on how many transactions are taking place using Ripple.

Another important difference between XRP and other top cryptocurrencies is that the Ripple blockchain is fast. When you want to send XRP to someone, the transaction is processed on the Ripple blockchain instantly. In contrast, sending money with Bitcoin or Ethereum can take seconds to minutes and is generally quite expensive.

Ripple Labs

Unlike other cryptocurrencies, which are entirely decentralized, XRP is partially controlled by the company that created it: Ripple Labs. Ripple Labs doesn’t have control over XRP transactions, but it does work to maintain the blockchain and push for the mainstream adoption of Ripple.

To that end, Ripple Labs has created a network of more than 200 financial institutions – including Santander, MoneyGram, Westpac, and American Express – that use Ripple to facilitate borderless payments.

It’s important to note that ‘Ripple’ refers to both XRP, the digital currency that trades over the Ripple blockchain, and Ripple Labs.

Compare Ripple Exchanges