The process for buying cryptocurrency can be overly complex most of the time and can dissuade beginners from getting involved with the process. Platforms like PayPal can facilitate the buying process entirely and make cryptocurrencies accessible in a cost-efficient way. Ripple [XRP] is a cryptocurrency that focuses on frictionless global payments which makes it an attractive asset for a range of people also considering that the Ripple price is predicted to increase by 2020; this guide will overview how to buy Ripple [XRP] with PayPal and get started with using the currency.
While Ripple may seem extremely complex in its technological nature, using it as a payment option and buying it for investment purposes can be very simple with PayPal. Prior to beginning, ensure you have a valid PayPal account, funds that are linked to your PayPal, a valid internet connection, and verification documents such as a passport, proof of residence, and so on at your disposal.
In this article, we look at the best and easiest ways to buy XRP (formerly known as Ripple) in 2020.
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How to Buy XRP with Paypal in 5 Steps
- Open an account with eToro
- Select Paypal as a payment option
- Fund your account
- Search for Ripple in the trading dashboard
- Click on buy, enter the amount and click on place order
Best Platform to Buy Ripple with PayPal
We’ve reviewed the top brokers to buy XRP with Paypal and found the following platform to beat the competition in terms of safety, fees, educational resources and trading experience. Click the link below to get started or read on to find out what makes this our top choice.
eToro : Best Bitcoin Broker for 2020
- CySEC, FCA and ASIC regulated
- Paypal accepted
- Buy 15+ coins outright or trade crypto CFDs
Where to Buy Ripple with PayPal
eToro - Best platform for US and non-US residents
- Buy XRP outright or trade Ripple CFDs
- CySEC, FCA and ASIC regulated
- No commissions on XRP purchases
- No MT4 platform
Plus500 - Trade Ripple CFDs with PayPal
Plus500 is a CFD broker registered in Israel accepting Paypal deposits and withdrawals at no extra charges. The company’s platform is considered ideal for traders and investors as it is authorized to operate in most countries all over the world, registered with top-tier regulators, such as the UK’s FCA. Moreover, Plus500 is listed on a stock exchange and discloses its financials transparently.
The UK comprises a very large percentage of global cryptocurrency buyers and users. At this time, the easiest and least costly method of buying Ripple (XRP) with PayPal in the U.K. is through Plus500.
Plus500 maintains a high level of regulation and safety and is very widely used in Europe and the UK. This platform is heavily regulated, holding licenses from the FCA and CySEC amongst others.
Fees: Plus500 also offers some of the lowest spreads and commissions in the industry for Paypal purchases. On Plus500, Ripple has a spread of 2.10% which is definitely convenient if compared with most other trading platforms. It is worth noting that Plus500 does not allow the physical purchase of Ripple and users can only trade Ripple as CFDs. In general, Plus500 offers relatively low spreads on cryptocurrencies and other assets.
There are also non-trading fees to be aware of, such as a $10 inactivity fee. No withdrawals or deposit fees are charged. In some cases though, depending on the bank you make transactions with or whether it is an international transfer.
- Low spreads and commissions
- Leveraged Ripple CFD trading
- No option to buy Ripple outright
- Not suitable for complete beginners
Markets.com - Best MT5 PayPal Forex site
Markets.com is a very well established CFD broker that has been around since 2010. The platform offers great customer support services and is regulated by some of the most important regulatory agencies in the industry, meaning that its operations are monitored and the interests of customers are protected at all times. In fact, the site offers an investors compensation fund as well to protect customers from fund loss.
Markets.com accepts deposit and withdrawals from PayPal free of charge. On top of that, the site also offers some great technical chart and indicators to make the most out of your trading experience, especially considering that the platform has MT5 trading, one amongst the most famous trading platforms on the market.
You will be able to access Markets.com in most countries except for the US, Japan, Canada and Australia.
Fees: Fees on Markets.com are also pretty competitive, but you should be aware of them. The platform does not charge any inactivity fee like most other trading platforms do, but spreads are slightly higher than on eToro and Plus500. In fact, the spread on Ripple is at 5.69%. What has to be taken into consideration though is that high spreads on cryptocurrencies are normal given the high volatility of digital coins.
- Well established
- Low spreads on Ripple trades
- Low minimum deposit of $100
- Not available in the US
- Ripple CFD trading only
How to buy XRP with Paypal on eToro
Step 1: Sign up to eToro
Visit the eToro website and click on “Sign up.”
You will be required to submit your details on a form that appears on the main page. Once you do, it will only take a few minutes for your account to be set up.
A simpler registration option is linking your Google or Facebook account.
Step 2: KYC & Verification
Next, you need to verify your identity. As an internationally regulated platform, eToro has to comply with AML and KYC requirements, hence the need for verification.
For this step, you can upload your driver’s license, passport or ID. Though it is not mandatory for buying Ripple, verification will allow you to access other functions such as trading crypto.
Step 3: Deposit funds into your account by selecting Paypal as a payment method
Use your credit card or a bank transfer to fund your eToro wallet and then buy Ripple within the wallet.
Other payment options include eWallet services such as Neteller, PayPal and Skrill.
Choose the payment method and then make your initial deposit. For beginners, $250 is a good place to start as you get better acquainted with the platform.
75% of retail investor accounts lose money when trading CFDs with this provider. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
How to buy XRP with Paypal on Plus500
Below you will find out how to buy ripple with Plus500 using Paypal as a payment method.
Click here to get started. Select whether you want to trade with a demo account or real funds (in this case, select the latter) and continue with typing your details in the required fields.
Step 2: KYC & Verification
Before you can buy or sell anything on the platform, you have to verify both your identity and address. Upload the documents and don’t forget to verify your email address and phone number too.
Step 3: Fund your Plus500 account using Paypal
The next step is to deposit funds to your account. Plus500 accepts credit and debit cards, PayPal, Skrill, and bank transfers as payment methods.
It’s time to trade Ripple!
*80.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the risk of losing money.
Tips For Buying Ripple (XRP) with PayPal
Prior to attempting any purchases, ensure that your PayPal account is verified and that a valid account or card is linked. This will save a monumental amount of time down the line.
Adding multiple methods of verification and security will also enable you to have a higher sense of confidence in buying Ripple. You can be comfortable only submitting sensitive documents to a singular platform (PayPal) and not have to submit documentation to other places just to link a deposit method.
Always ensure whichever exchange you’re using is reputable and verified for PayPal integration. PayPal is a common victim of phishing attempts; this means scammers and hackers will duplicate a login page or verified security page and try to entice users to provide sensitive information to a fraudulent page. Always make sure the link or site you’re on is verified and legitimate and not a fake or duplicate; follow links from verified and validated sources.
*A good tip for this is to use Chrome and look for the ‘Lock’ symbol highlighted in green next to your URL bar.*
Do Your Research
Always do your due diligence and complete your own research. If there’s a site that offers Ripple purchasing with PayPal but it’s unreliable and there are no reviews or acclamations about it online, it’s best to avoid it. Be wary of various scams in the PayPal and cryptocurrency community.
Ripple (XRP) vs PayPal
Ripple and PayPal might appear to serve similar purposes on the outside, however, their internal usage is rather contrary. It’s important to know that Ripple is the name of the company behind ‘XRP’ which is the company’s respective cryptocurrency (Many people get confused by this). Ripple as a company provides services to facilitate and streamline the process of global transactions, competing directly with SWIFT. However, XRP, also serves as a payment method, a currency in itself that runs in a semi-decentralized manner. PayPal, adversely, is a centralized service that provides users the ability to send payments to other users that are registered on the PayPal platform. In terms of adoption, PayPal is more widely available; however, in terms of utility, XRP is faster, more cost efficient, and accessible to anyone with an internet connection.
- Used for online payments and transactions to others
- Run on peer to peer (P2P) sending fashion
- Fast transactions that are completed digitally via the internet
- Can be accepted by online vendors or merchants
- XRP and PayPal can both be used for
- XRP is a cryptocurrency in itself, PayPal is a platform that runs by sending representations of fiat currencies (Such as USD or GBP)
- Ripple (XRP) maintains its technology on a blockchain which is a public ledger, while PayPal is privately recorded.
- XRP transactions are not discriminant to jurisdictions; PayPal may require additional fees for certain currency or jurisdiction payments.
- XRP payments cannot be reversed, PayPal transactions can be charged back.
- XRP does not require identification verification or a bank account, PayPal requires it.
Is Ripple better than PayPal (Or vice-versa?)
Ripple (XRP) is not in an absolute manner better than PayPal, and PayPal isn’t the latter in comparison to Ripple. Each entity has tis own respective advantages and downfalls, and each has independent uses. As a general form of payment, Ripple (XRP) is in fact more efficient and faster than PayPal, however PayPal is currently more widely accepted on a plethora of websites and third party platforms.
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Is it safe to buy Ripple with PayPal?
Buying Ripple using PayPal on a verified and vetted exchange is in fact safe, it does depend on the exchange you're using. As long as the exchange is reputable and has been vetted as a legitimate option, you should be fine as far as safety with purchasing Ripple using PayPal.
Can I buy Ripple directly on PayPal?
You can't purchase Ripple, Bitcoin or Ethereum directly on PayPal's platform at this time. However, depositing and funding your PayPal account can then be used to link to an external exchange that allows for this, like LocalBitcoins.
What is the best site to buy Ripple with PayPal?
Arguably, LocalBitcoins is the best site to buy Ripple with PayPal on it - this is because LocalBitcoins is regulated and registered, and also because it maintains verified and validated assets. PayPal integration and usage on the platform is very intuitive and can be quick to get started with.
Can I buy Ripple with PayPal anywhere?
No, unfortunately, you have to find a supported exchange with PayPal integration in order to buy Ripple using PayPal. Prior to any purchase, make sure PayPal is integrated.
Is PayPal the fastest option for buying Ripple?
Arguably, yes, PayPal and peer to peer exchange outlets are the two fastest options for buying Ripple because they are near instant and don't require a ton of verification and KYC if you already have a verified PayPal account.
Can I buy Ripple using GBP on PayPal?
Many are aware that USD is available for use to buy Ripple via PayPal, however, less are aware that GBP is also a possible currency. All that's required is that the exchange you deposit to through PayPal also supports GBP.