Ripple (XRP) is the third largest cryptocurrency as of January 2019. Created and managed by the technology company Ripple Labs Inc., XRP’s platform features an infrastructure that is widely used by financial institutions globally. With different services, including a real-time gross settlement system, currency network, and remittance network, Ripple’s customers benefit from the almost-instant and low-cost transactions.
- 1 Buy Ripple in 5 steps on eToro
- 2 What is Ripple?
- 3 Differences between buying and trading Ripple
- 4 How to buy Ripple on eToro?
- 5 How to buy Ripple on Plus500?
- 6 How to buy Ripple on Binance?
- 7 How to buy Ripple on Changelly?
- 8 How to buy Ripple on Coinbase?
- 9 How to trade Ripple with a trading robot?
- 10 How to buy Ripple with credit card?
- 11 How to buy Ripple with Paypal
- 12 How to buy Ripple with Bitcoin?
- 13 Do you need a Ripple wallet?
- 14 How to create a Ripple wallet?
- 15 How to buy Ripple in the UK?
- 16 How to buy Ripple in the USA and Canada?
- 17 How to buy Ripple in Australia?
- 18 How to sell Ripple?
- 19 Conclusion
- 20 FAQ
Buy Ripple in 5 steps on eToro
- Register an account on the official eToro website
- Verify your account by submitting the required documents to the service provider
- Fund your account with fiat or crypto
- Select XRP and the amount of coins you want to purchase
- Execute the trade
What is Ripple?
Ripple seeks to substitute the traditional borderless payments, which are often slow to arrive along with high failure rates as well as expensive transactions. Since Ripple was created in 2012, Ripple Labs has partnered with plenty of big names who are either using its network or are currently exploring it. This includes Santander, MoneyGram, Westpac, American Express, along with many others.
XRP had a huge bull run at the end of 2017. The cryptocurrency increased its value from $0.24 to $3.34 in a little over one month, which is more than a 1,300 percent growth. The good Ripple news was followed by a big hype from news outlets – even from mainstream media – at the time. Despite 2018’s bear market, there’s still hype around XRP as Ripple Labs have made numerous important partnerships throughout the year. And we expect more good Ripple news to come in the future.
Some crypto enthusiasts consider Ripple as one of the best cryptocurrency to buy in 2019. During the four years from XRP’s birth, the coin has become widely accepted on crypto exchanges and brokers. Now, the question stands: where to buy Ripple? To determine that, you’ll have to test plenty of services to be able to choose the best one.
Trying different services where you can buy XRP can be both time-consuming and tiring. That’s why we decided to test and analyze numerous services, and selected you the best Ripple exchange. But there’s even more to that. We want to spare your time so much, that we added a step-by-step guide at each service we listed. So, after reading this part, you’ll not only know where to buy Ripple, but you’ll also learn how. We’ve also included images for each step to ensure the best experience for you.
Now, let’s dive in and see which XRP exchange is the best (along with 3 other top picks) and how to use it to buy Ripple. But just before that, it is crucial to understand what the difference is between buying and trading the coin. So, we’ll start with explaining this, then show you the best services to purchase XRP as well as our step-by-step guide for each.
Differences between buying and trading Ripple
As mentioned before, it is super important to know the difference between buying and trading Ripple. Both of them are different methods to interact with the cryptocurrency, both with their advantages and disadvantages. It’s time to see both.
With the buy and hold method, you make a mid to long-term investment in Ripple. You are expecting to make one or a few big potential profits from your investment. After the price of the cryptocurrency has risen to a level where you are satisfied, then you may sell the coin to take out your profits. The buy and hold method requires no trading knowledge or expertise from the user. You just need to analyze the coin carefully you are buying (Ripple in this case) and monitor your investment’s performance until you sell your XRP. One downside of the buy and hold method is that you can’t short digital currencies this way. Therefore, it is extremely hard to make profits during a bear market. That’s why the buy and hold method is recommended when cryptocurrency prices are rising as well as when users are predicting that this uptrend will be maintained in the mid to long-term. Although, there is a popular, but risky way you can make profits during a bear market. When you see that the prices are crashing, you don’t sell but hold your Ripple until a bull market emerges, then wait to sell your coins until it is profitable for you.
On the other hand, if you trade Ripple, you are in for the short-term. Cryptocurrency traders often make multiple trades a day in order to gain small potential profits on each (though it is possible to make big profits on trading positions, but these are somewhat rare) that will add up in the long-term. One main benefit of trading Ripple is that you can short the coin. Therefore, you can make potential profits not just in a bull market, but when the prices crash. On the flip side, trading Ripple requires you to possess at least a basic trading knowledge – and, preferably, experience too. Traders use a combination of fundamental and technical analysis to predict whether their position will be profitable as well as to determine the best entry and exit points. While fundamental analysis requires only a bit of common sense as well as resourcefulness, technical analysis can seem somewhat hard at first glance. For the latter, traders deploy different indicators, such as the moving average and the Fibonacci retracement, to analyze cryptocurrency price charts. They do this in order to determine the best entry and exit points for their trades as well as to set their stop-limit levels. To be successful in conducting technical analysis, you need to learn first what the different indicators are and how to use them. If you have some experience using them, then you may start trading Ripple.
How to buy Ripple on Coinbase?
Coinbase is a San Francisco-based cryptocurrency exchange that has been quite popular among crypto enthusiasts. The main reason for that is the user and beginner-friendly platform of the service. Furthermore, Coinbase supports credit and debit card payments, so users can not only conveniently and quickly purchase coins, but they can cut out the deposit process when buying or selling a digital currency using the exchange. Compared to its competitors, Coinbase has one of the lowest credit card processing fees (1.5%) on the cryptocurrency market.
However, one major downside of the cryptocurrency exchange is its limited support for digital currencies. Unfortunately, Ripple is not among the coins that can be traded on Coinbase. Therefore, you need to use another service to buy XRP. To know more about the buying process and the best Ripple exchange solutions, then read back to find the relevant sections of this article.
How to trade Ripple with a trading robot?
In the section of this article when we explained you the difference between buying and selling Ripple, we compared purchasing a coin and holding it with traditional trading where you analyze the price charts and enter-exit positions manually. As mentioned before, manual trading requires certain knowledge, expertise, and experience from users. However, that’s not true for trading Ripple with a trading robot solution. Let’s see why along with more benefits of crypto bot platforms.
The aforementioned platforms utilize crypto robots that are based on algorithms. These bots will trade your Ripple, finding the best entry and exit points for your positions (with the same technical analysis at manual trading) fully automatically. Therefore, trading robots do not only have fewer requirements from the users to utilize, but they will spare you your precious time when using such services. If you are trading coins manually, you need to sit in front of your computer all day to scour the market to determine the best entry and exit points for your trades as well as to find out whether your positions will be profitable in certain periods of time. Trading robots will do this for you fully automatically. So, you don’t need to do a thing besides registering an account at a trading robot platform, funding it with money, setting your robots up, then monitoring their performance.
We have created a page dedicated to cryptocurrency trading robots. If you want to learn more about the topic, we recommend you to check it out.
How to buy Ripple with credit card?
Credit and debit card transfers offer a quick and convenient way to buy XRP. If you buy Ripple with credit card, it usually takes only a few minutes for your funds to be credited on your account. On the flip side, credit card transfers are more expensive than most of the other payment methods, including bank transfers. Credit card fees vary by service, on one it is 10 percent, on another it’s free.
The best option to buy Ripple with credit card is at eToro. While you can trade crypto outright on the platform, credit card deposits are completely free. Just register an account, verify it, deposit funds via a credit or debit card, and use those funds to buy Ripple.
How to buy Ripple with Paypal
PayPal is a huge online payment service, which is used by hundreds of millions of customers all over the world. The service offers fast and convenient transfers while also being secure. To keep the security of its users, PayPal has very strict rules regarding the products and services where PayPal can be used as a payment method. Unfortunately, the company does not allow Ripple to PayPal transfers. So, there’s no direct way you can buy Ripple with PayPal.
However, there’s a workaround, which works with some brokers, like eToro and Plus500. The method is to deposit funds at a broker that accepts PayPal and offers XRP trading and use that money to buy Ripple with PayPal. While this method is indirect, technically you are exchanging Ripple to PayPal funds.
How to buy Ripple with Bitcoin?
When you got some BTC in your cryptocurrency wallet, it might be a better way to use that balance to buy Ripple. In case you want to exchange your Bitcoin to fiat, then purchase Ripple, the process would require more time and money for you (as the total fees are higher for the increased number of transactions). You would have first to exchange your BTC balance to fiat, withdraw it via bank transfer, wait a few days for it to arrive, then deposit your withdrawn balance to the crypto exchange or broker you will use to buy the coin.
Therefore, when you have some BTC balance, it is much easier to buy Ripple with Bitcoin. We’ve chosen the crypto to crypto exchange Binance to show you the whole process. Firstly, you need to create a Binance account, then set up 2FA to protect your funds. When you are ready with all that, navigate to the deposit section of your account. You’ll see a wallet address after you choose BTC from the list of digital currencies. Use that to send Bitcoin to your Binance wallets. After you coins have arrived, navigate to the Binance trading page. Select Bitcoin from one of the four base currencies (BTC, ETH, BNB, and stablecoins), and select the BTC/XRP trading pair. Choose the amount of coins you want to exchange as well as your preferred order type, then proceed with executing the trade.
Do you need a Ripple wallet?
There are two ways you can buy XRP: by buying the actual coins (like on eToro, Binance, and Changelly) or by using a broker to buy Ripple via CFDs (like on Plus500).
Both options have their upsides and downsides. If you buy Ripple outright, you own the coins you buy, while supporting the ecosystem of the cryptocurrency. However, you need a Ripple wallet. And wallets can be hacked by attackers if you are not careful enough. We’ll return to this later.
If you buy Ripple CFDs, you don’t have to bother with holding the coin on a crypto wallet. You’ll stay almost absolutely safe from hackers, but you are not actually owning the cryptocurrency you are trading.
In case you choose to buy actual coins and hold those on a Ripple wallet, you can stay safe by keeping to some security measures. One of the easiest settings is to turn on 2FA on your account, which will give you a moderate level of security. Secondly, use a safe wallet that stores your coins offline (most of the time). A great option is a hardware wallet that utilizes a hardware device where you have to verify every outgoing transaction via a PIN. The Ledger and Trezor brands are well-known and trusted on the Ripple market; we recommend you to check them out.
How to create a Ripple wallet?
You have just learned the pros and cons of having a Ripple wallet, and you may have decided on creating one. Let us show you how to create a Ripple wallet using a trusted service, Exodus.
Exodus is a multi-coin cryptocurrency wallet that supports a wide variety of digital currencies, including XRP. The service features a user-friendly interface with an awesome design as well as support for different operating systems, including Windows, Mac, and Linux. To create your Ripple wallet using Exodus, you have to download the software to your preferred OS using the homepage of the service.
How to buy Ripple in the UK?
Europe is one of the top crypto-friendly continents. And within Europe, the citizens of the United Kingdom are highly interested in digital currencies, including Ripple. However, choosing from such a wide variety of cryptocurrency exchanges and brokers can become hard as well as tiring. Therefore, we have selected you the best service where you can buy Ripple in the UK, sparing you precious time in the meantime.
And this service is eToro, which we also ranked in this article as the top solution to purchase Ripple (globally). The broker is an excellent choice for UK citizens as it is FCA regulated, so it provides additional trust and security for the locals of the European country. Furthermore, eToro features cool social trading features, such as copy trading, multiple payment methods to choose from to fund your account (PayPal and credit cards included) as well as a fast and easy account creation process.
How to buy Ripple in the USA and Canada?
North America is the top continent by the number of cryptocurrency and blockchain-related services in the region. While many exchanges and brokers are offering its users to buy Ripple, a part of them restricts or denies access for the citizens of the United States and Canada due to the strict regulations of both countries. So, we have gone with selecting the best service for US and Canadian citizens to buy XRP.
We’ve selected Changelly for the aforementioned countries as the cryptocurrency exchange has no geographical restrictions. Therefore, it is best suited to buy Ripple in the USA and Canada. Furthermore, Changelly features a user-friendly interface as well as near-instant transactions (no need to deposit funds into your account), so your XRP will be credited into your account in 10 to 30 minutes.
How to buy Ripple in Australia?
While Europe and North America are the two top continents for cryptocurrencies, Aussies are showing an increased interest in digital currencies like Ripple. However, a part of the crypto exchanges and brokers are focusing mainly on the customers of the aforementioned continents, but not Australians. So, if you are living in the Oceanic country, you may struggle with finding the best service to buy Ripple in Australia. But worry no more. We have found it for you: Binance.
Binance is a crypto to crypto exchange supporting a wide variety of coins, including Ripple. Australian citizens can easily sign up and create an account on the service where they can select from four base currencies (BTC, ETH, BNB, stablecoins). Binance has high initial account limits. Therefore, you don’t have to verify it if you are trading normal amounts of coins. To check out our guide on the cryptocurrency exchange, read back in this article.
How to sell Ripple?
After your XRP has risen to a level where you are comfortable with the profits, you might then want to sell your coins. In other, less fortunate cases, you may want to sell Ripple to minimize your losses. Anyways, let us show how to sell XRP using one of our top-rated cryptocurrency exchanges, Binance.
To sell your Ripple on Binance, first, navigate to the homepage of the service. If you haven’t already done so, create an account at the service. For security measures, set up 2FA. The next step is to head to the deposits section of the platform, and select XRP from the list of cryptocurrencies. Use the wallet address shown on the page to send Ripple into your Binance wallets. The transaction shouldn’t take longer than an hour or two. After your XRP has arrived, navigate to the trading page of the exchange. Select from one of the four base currencies (BTC, ETH, BNB, and stablecoins) as well as the relevant XRP trading pair. The next step is to choose the amount of Ripple you want to sell and your preferred order type, then execute the trade.
You’ve just learned which service is the best Ripple exchange along with three other top picks. You know how to buy XRP via each exchange and broker, and you know the upsides and downsides of different payment methods (credit cards, PayPal) as well as how to use those to buy Ripple. You also know the pros and cons of holding coins in a Ripple wallet.
Our top pick among Ripple exchanges and brokers is eToro. The broker offers its users an easy-to-use platform, a fast registration process, social trading features, and regulated service.
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