How to Buy Ripple – Complete Guide
In 2018, Ripple and its token started to change the way the world banks. Given its growing influence, experts are starting to invest in Ripple (XRP). Even if you’re not an expert, this could still be the product for you. To show you why and how to buy Ripple, we’ve put together this handy guide. So, without further ado, here’s our take on buying Ripple coin.
Why Buy Ripple Now?
Before we tell you where to buy Ripple and how to do it safely, let’s answer the question: why should I invest in Ripple? Firstly, Ripple is out there and it’s changing the way banks process cross-border transactions. Using the xRapid platform, financial institutions such as Santander and American Express are now able to process international transactions more efficiently and for less money.
With cross-border payments costing banks $30 billion in fees every year, the leading names are looking for ways to streamline their businesses. Because of this, Ripple has been an extremely attractive proposition and that’s given the project a real utility. Additionally, the price of XRP spent a lot of 2018 extremely low.
What is the Best Site to Buy Ripple?
Now we’ve made the case for why you should buy XRP, it’s time to consider the where. Using our inside knowledge and experience, we suggest these three platforms:
eToro: eToro is a broker that allows you to trade contracts for difference (CFD). In simple terms, you can buy a “contract” rather than an underlying asset. The advantage of this is that you can buy Ripple and speculate on its price increasing or decreasing. You can’t do this on an exchange. Another reason eToro stands out for those buying XRP is the fact you can follow experts and mimic their trades.
24option: Another broker site, 24Option.com allows to invest in the same way as eToro. As you’ll note from our 24option review, this site has been active since 2008 and is currently regulated by CySEC. This means it’s been around longer than any cryptocurrency and it has to operate under a strict set of conditions. For this reason alone, it’s worth holding at least some of your portfolio at 24option.
Binance: As well as being one of the top-three exchanges in the world, you’ll see from our Binance review that it was founded using cryptocurrencies. From a trading perspective, Binance not only allows you to invest in Ripple but dozens of alternative coins. The other neat thing about Binance is that you can stay virtually anonymous and the transaction fees are low.
|Coins Offered||BTC, ETH, XRP||BTC, ETH, XRP, LTC, DASH||50+ coins, including: BTC, ETH, XRP, BCC, LTC, DASH and more.|
Paying for Ripple
Once you know where to buy XRP, you then need to know how. Each of our recommended platforms has a slightly different process and you can use our step-by-step guides to learn more about each. For now, just know that eToro and 24option are slightly less complicated because you can deposit using a fiat and buy a CFD.
eToro: Follow our eToro sign-up link to create an account. Make a deposit using a payment method such as Visa, MasterCard or PayPal. Search for XRP and then choose whether you want to “buy” (if you think the price will increase) or “sell” (if you think the price will decrease).
24option: Join the site and make a deposit using a credit card, eWallet or transfer. Search for Ripple, input the amount you want to “buy” or “sell” and confirm the trade.
Binance: Set-up your account and then transfer Bitcoins from your wallet to Binance. Search for XRP/BTC and choose how many coins you want to buy. Confirm the transaction and wait for the price of Ripple to increase.
Our Expert Opinion: Invest Using eToro for These Reasons
In our opinion, eToro offers the best all-round option when it comes to buying Ripple because it’s the most user-friendly. Crypto exchanges are still a new concept and, as such, their software is glitchy and difficult to navigate. In contrast, eToro has been around for years and has to meet certain regulatory standards. Because of this, it’s much easier to set-up an account, make a deposit and start trading at eToro.
The other advantage is that you don’t have to buy the underlying asset. This dynamic gives you a much greater degree flexibility when you buy Ripple CFDs, because you can profit from price changes in either direction and adopt a trading strategy that suits you. For more on how this broker compares to the rest, check out our eToro review before comparing it to our Binance and others.
Buying Ripple: Payment Methods
There are plenty of ways to buy Ripple. Credit/debit card is the most popular but our top rated exchanges allow you to make deposits using cryptocurrencies and PayPal. Using eToro as an example, here are the steps you should follow to make a deposit:
- Create an eToro account or login.
- Hit “deposit now”.
- Select “credit/debit card” from the dropdown and enter your card details.
- Input deposit amount (at least $1,000). Deposits are fee free.
- Follow steps 1 and 2 above.
- Select PayPal and input your deposit amount (at least $1,000). Deposits are fee-free.
- Wait for the software to take you to the PayPal homepage.
- Log in to PayPal and use your available funds or allow the site to draw money from your bank.
- Confirm the transaction and wait for the software to take you back to eToro.
How to Buy Ripple in Your Country
The process of buying Ripple can vary depending on where you live. Some countries only have certain exchanges and some will only allow you to use certain payment methods. Countries like the UK and Australia have regulated exchanges for citizens to use, for example.
How to Store Your Ripple in a Wallet
For those that buy XRP coins via eToro, you don’t need a crypto wallet. However, if you choose to use Binance or any of our alternative exchanges, you’ll need a digital wallet. As a stopgap, you can keep your funds on an exchange. However, if you have a large holding, you should store them somewhere else. If you check out our wallet hub, you’ll see there are two types: online and offline. Each has their benefits and some of the best options for Ripple are:
- Ledger Nano S (Offline)
- Edge (Mobile/Online)
- CoinPayments (Online)
Other Ways to Get Ripple
It’s not possible to mine Ripple. You can learn about crypto mining here. However, if you want some XRP, you’ll have to buy it.
Now is the Time to Buy Ripple
Buying Ripple is easy. Using one of our three suggested sites, you can invest safely and in a way that suits you. Although we can’t guarantee you’ll make a profit. However, the current price of XRP is low and the project is showing some real signs of potential. If things continue to evolve in a positive way, there’s nothing to say you won’t earn some money in the long-run if you buy Ripple.
Extra Ripple Resources and News
Buying Ripple FAQs
Featured image source: Flickr