How to Buy Ripple Stock 2023 - 3 Step Guide to Pay 0% Fees

Note – it’s currently not possible to buy Ripple stock, but you can invest in the Ripple cryptocurrency (XRP) itself. Read our guide on how to Buy Ripple.

The altcoin boom has thrown up hundreds of crypto projects. Many appear unrealistically idealistic, some seem cynically speculative, but Ripple is a blockchain platform that demands to be taken seriously. Already partnered with 300+ financial institutions, including some of the world’s biggest banks, this blockchain-based cross-border payment platform beats the status quo on speed and cost and might just revolutionise global payments. So, are you wondering how to buy Ripple stock?

Read on to learn more about Ripple, its native coin XRP, and how to invest in this exciting cryptocurrency.

Where to Buy Ripple Stock 2023

If you’re interested in buying XRP, you’ll need to find a trustworthy crypto broker or exchange. Here’s a couple of our favourite crypto brokers.

1. eToro – Market Leading Broker Built on Social Trading Innovation

eToro’s crypto offering is almost certainly among the most comprehensive on the market. Crypto was added to its platform as a tradeable instrument back in 2014 but until relatively recently it was only possible to speculate on crypto assets using CFDs. Happily, you can now purchase cryptocurrencies on the platform by opening a long position and buying the underlying asset.

Being able to buy and trade XRP on the same platform gives you plenty of flexibility. You can choose to open a short position and add leverage to boost the value of your trade – strategies that tend to suit shorter-term trading – or buy the underlying asset, which can be stored locally or sent to a crypto wallet.

eToro’s ever expanding crypto offering now includes an eToro wallet (available for Android and iOS) that allows you to store and manage your crypto assets. You can even use it to buy crypto quickly and easily with a credit card. There's also eToro's cryptocurrency exchange, eToroX, which you can access through your regular account.

There's also eToro's famous copy trading feature. This allows you to copy the portfolios and future traders of fellow investors at the click of a button, which is a great tool for both beginners and experienced traders alike.

This broker boasts competitive fees, with no commission and tight spreads. You can get started with a $200 deposit, which you can make via a range of methods, including PayPal. Regulated by the FCA, CySEC and ASIC, eToro is among the most secure platforms around.

Our Rating

800+ stocks to buy outright or trade as CFDs
Beginner-friendly stock trading platform
crypto wallet and exchange
0% commission

$5,000 account minimum for CopyPortfolios

Visit eToro Now

67% of retail investor accounts lose money when trading CFDs with this provider.

2. Binance - Leading Cryptocurrency Exchange

Binance is a popular crypto exchange on which you can buy Ripple, in addition to over 150 other cryptocurrencies. You can choose to buy with a debit/credit card or bank transfer, or you can exchange other cryptocurrencies for XRP.

This platform provides a fast, easy way to buy crypto, with a well designed platform that creates a positive user experience. There's also a range of advanced trading tools available to use. The standard trading fee is 0.1% of your purchase.

The Binance app is ideal if you want to buy Ripple stock while on the move, and there's also 24/7 support in case you're ever in need of assistance. The platform uses a Secure Assets Fund for Users systems to keep your funds safe.

Our Rating

World's largest crypto exchange
User-friendly platform
Advanced trading tools

Limited deposit options
No fiat to crypto trading on main exchange

Visit Binance Now

There is no guarantee you will make money with this provider.

68% of retail CFD accounts lose money.

74% of retail investor accounts lose money when trading CFDs with this provider.

The price and value of any investment in digital asset products can fluctuate.

The traded price of digital tokens can fluctuate greatly within a short period of time.

Market prices for digital tokens can be volatile and highly unpredictable.

As with any asset, the values of digital currencies may fluctuate significantly.

The value of digital currencies can go up or down frequently.

71% of retail CFD accounts lose money.

As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase.

Rating

5.0

4.7

4.6

4.5

4.4

4.3

4.1

4.0

Mobile App Rating

10/10

9/10

8/10

9/10

10/10

Mobile App

Wallet

Number of Coins

123

Trading Fees

Spreads

0.1%

0.50%

Spreads

0.2%

Deposit Fees

N/A

Withdrawal Fees

N/A

0.0005 BTC

N/A

Regulated

ASIC, CySEC, FCA

CySEC

N/A

FCA

CBI, MiFID

N/A

Min. Deposit

$50

100 EUR

N/A

$10

$100

N/A

Leveraged Trading

N/A

1 - 100x

1 - 10x

1 - 100x

N/A

1 - 30x

1-200x

Bitcoin

$23657.54

$23517.00

$23440.88

$40391.88

$40393.04

$40404.41

$40416.27

$23505.29

$40377.55

Ethereum

$1696.88

$1691.84

$1681.34

$2796.11

$2795.55

$2797.45

$2796.59

$1685.96

$2795.54

XRP

$0.42

N/A

$0.23

N/A

$0.78

$0.30

$0.42

$0.78

Tether

$1.01

$1.00

N/A

$1.00

N/A

Litecoin

$100.75

$100.25

N/A

$109.04

N/A

$109.10

$109.04

$100.35

$108.99

Bitcoin Cash

$139.27

$139.68

N/A

$506.41

N/A

$295.12

$295.07

$139.61

$294.96

Chainlink

$7.34

$7.28

N/A

$14.26

N/A

$14.68

$14.67

$7.37

$14.68

Cardano

$0.41

N/A

$0.83

N/A

$0.83

N/A

$0.83

IOTA

$0.25

N/A

$0.70

$1.91

$0.25

$0.70

Binance Coin

$334.48

$331.50

$331.42

N/A

$385.92

N/A

Stellar

$0.09

N/A

$0.19

$0.08

$0.19

$0.09

$0.19

Bitcoin SV

N/A

$43.73

N/A

$182.50

N/A

$77.12

USD Coin

N/A

$1.00

N/A

$1.00

EOS

$1.13

$1.12

$2.06

$2.05

$1.13

$2.06

Monero

N/A

$175.32

$173.03

N/A

$188.31

Credit Card

Giropay

Neteller

Paypal

Sepa Transfer

Skrill

Sofort

How to Buy Ripple Stock Online

If you’re interested in making an investment in Ripple, it’s worth pointing out that you can’t buy Ripple stock like you might buy shares in a stock market listed company. You can, however, buy XRP, Ripple’s native coin and investment asset.

The acquisition of an altcoin like XRP is often conducted on an exchange, such as Binance or Huobi. Simply put, crypto exchanges provide a platform for users to exchange one asset for another asset. This could be the exchange of fiat currency (like USD or EUR) for cryptocurrency (like XRP or BTC) or the exchange of one cryptocurrency for another cryptocurrency (BTC for XRP, say). In either case, the exchange will be conducted at an agreed exchange rate, typically the current market price.

All exchanges are different. Some allow you to buy altcoins with fiat currency, others only offer crypto pairs. So, for instance, an exchange may require you to first acquire Bitcoin or Ethereum in order to exchange it for XRP.

Alternatively, you can buy XRP from a crypto broker like eToro or Plus500. Brokers act like an intermediary or middleman, buying and selling XRP at a fixed price. Purchasing your XRP from a regulated broker ensures a degree of safety that isn’t always present when using an exchange.

With online stockbrokers, you can also trade altcoins like XRP without buying the underlying asset. Trading platforms like eToro and Plus500 allow you to speculate on an asset’s price fluctuations via CFDs (Contracts For Difference). This type of trading enables you to open a Long (Buy) position on XRP if you think It’s going to rise in value, or a Short (Sell) position if you reckon it’s set to fall in value.

CFD trades also introduce the possibility of using leverage, which enables you to boost the value of a trade beyond your upfront capital in order to gain greater exposure. Needless to say, leverage is a form of borrowing that ramps up your potential losses and caution is advised.

How to Buy Ripple Stock in USA

US citizens can buy XRP using a crypto exchange or broker, as detailed above. Obviously, you’ll need to find a platform that services US citizens. Luckily, eToro is available for buying cryptocurrencies, either from the regular platform or via the eToro wallet, in most states across the US.

Keep in mind that CFD trading isn’t permitted in the United States so CFD-only platforms are a non-starter.

Should I buy Ripple Stock? Points to consider

Ripple is a blockchain-based peer-to-peer transaction system designed to challenge established cross-border payment networks like SWIFT. As you’d expect of a crypto platform, Ripple is billed as a disruptive technology but, unlike most altcoins, like Bitcoin and Ethereum, its main selling point isn’t decentralisation. In fact, Ripple has attracted criticism in the crypto community for not being truly decentralised.

The question of where Ripple stands on the ‘spectrum of decentralisation’ is a contentious one. Suffice to say, Ripple is positioned as a streamlined remittance solution that is faster and more cost-effective than established methods and, as such, speed and efficiency are more prominent selling points than decentralisation.

It’s fair to say that Ripple is designed to disrupt and potentially revolutionise the global payment industry from the inside. Ripple’s plan involves partnering with financial behemoths rather than going toe-to-toe with them.

Ripple’s native coin, XRP, plays a central part in the system, effectively facilitating transactions by acting as a bridge between whichever currencies are being transferred. As such, XRP is Ripple’s principal investment asset. It’s also the crypto market’s third largest altcoin, based on market capitalisation, after Bitcoin and Ethereum.

Ripple is a serious endeavour that enables lightning fast cross-border transfers. Compared to most of its cryptocurrency counterparts, its goals are narrowly focused and relatively pragmatic. The fact that it already partners with over 300 financial institutions across 40 countries gives some indication of the inroads it’s making into mainstream banking.

Investors must also consider XRP’s price, of course. Like most cryptocurrencies, XRP is a volatile asset that should be approached with caution. At the time of writing, XRP is struggling to stay above $0.20 and investor sentiment still seems spooked by the uncertainty of Coronavirus-impacted markets. The crypto market is no different (excluding BTC, which has done extremely well in the crisis) and there is no doubt that XRP represents a risky short-term investment right now.

In the short-term, much depends on the intricacies of the crypto market. Some anticipate a rally if bullish sentiment prevails, but resistance could also knock the price back down. Ultimately, it’s far easier to assess Ripple’s long-term prospects, which could be immense if the technology meets its stated objectives.

How to Buy Ripple Stock on eToro

It’s quick and easy to invest in Ripple at our recommended broker, eToro. Assuming you’ve signed up and funded your broker account, follow these simple steps to buy or trade XRP.

Note: You need to verify your account to lift the deposit limit on your account.

Step 1: Search for Ripple (XRP)

Look up Ripple by typing the ticker symbol XRP into the search box.

Step 2: Click on trade

Click Trade in the top right corner of the XRP page.

Step 3: Specify ‘Buy’

If you want to purchase the underlying asset, specify ‘Buy’ on the top tab, change the leverage to X1 and proceed to set your order. To trade XRP CFDs, set your leverage amount, Stop loss and Take profit order limits, then click ‘Set Order’.

Conclusion

Given the volatility of the crypto market, forecasting altcoins is a tricky business, but Ripple is doing plenty to offer prospective investors a credible roadmap towards a bright future.

It may not satisfy the demands of some crypto purists, but Ripple delivers high speed, low cost transactions and attracts partners like Bank of America, American Express, Santander and HSBC. If you’re looking for a serious crypto investment that has the potential to transform the banking sector, Ripple looks like one of the most plausible candidates.

eToro: Best Broker for Buying Ripple Stock

Our Rating

FCA, CySEC & ASIC regulated
Buy ripple stock or trade CFDs
Linked crypto wallet & exchange
Low fees
PayPal support

Visit eToro

68% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

How do I buy Ripple stock?

There are several ways to purchase XRP. Some brokers allow you to buy crypto assets with a credit card or PayPal. Or you can exchange another crypto, like Bitcoin, for XRP at a crypto exchange.