XRP is ranked among the top 10 cryptocurrencies in terms of market capitalization. As a result, XRP trading is very liquid. It is accessible on all of the leading cryptocurrency exchanges in the world, including Binance, Huobi, Bitstamp, Bitfinex, Bithumb, and KuCoin, among others. Surprisingly, the cryptocurrency XRP does not now trade on Coinbase, which has banned trading in the cryptocurrency after the SEC’s complaint in December 2020 and has not relisted the cryptocurrency since.
To avoid the possibility of XRP being purchased via decentralized exchanges such as Uniswap, SushiSwap, or 1inch, the crypto firm has developed its own distributed Ledger (named XRPL).
Why Should You Buy XRP?
According to the US regulators, the XRP token is not considered a true crypto asset in the same way that bitcoin or ethereum is. So, what could be the justification for including XRP in a cryptocurrency portfolio at this point?
Because Ripple is dedicated to improving the efficiency of the whole cross-border and international payment scene, it may be worthwhile to keep a watch on the XRP cryptocurrency because it is still unclear whether these advances will be triggered by wholly open blockchains such as Bitcoin or Ethereum, or by a hybrid solution such as Ripple, at this point. Because of this uncertainty, some individuals see XRP as a hedge if crypto-assets like bitcoin or ether are never fully integrated into the conventional financial system and are never employed by banks on a widespread basis.
Amusingly, one might argue that XRP is the cryptocurrency of choice for bankers. According to anecdotal information, XRP is especially popular among bankers and financial institutions. And this should come as no surprise, given that Ripple the firm was recently recognized as the second most valuable fintech startup in the United States by Forbes Magazine, behind only financial darlings Coinbase and Robinhood. Additionally, the organization has a solid financial foundation, having collected significant venture capital investment.
Proponents of the XRP cryptocurrency argue that since the XRP ledger is a permissioned ledger, the cryptocurrency can become a major source for facilitating regulated international payments in the future. Because at the end of the day, this is exactly what Ripple is attempting to do. Moreover, if they are successful in streamlining and optimizing conventional payments, and if the XRP token is utilized in liquidity swaps with a wide range of fiat currencies, the XRP token will undoubtedly profit as well.
Ripple (XRP) was one of the most successful cryptocurrency assets during the last bull market. On January 1st, 2017, it was $0.05 per coin. One year later, a single XRP coin was worth $4, representing an incredible return on investment.
Ripple (the firm) has been around for years, and with millions of dollars in investment and a lengthy list of high-caliber advisors, there is a good potential that XRP will be a successful cryptocurrency in the future.
Recent price activity has not been promising when it comes to cryptocurrency prices, but astute investors see this as a fantastic chance to acquire XRP while the price is still low.
Because the ideal method to acquire XRP may change depending on where you reside, we’ve listed a handful of options for you to consider when making your initial purchase.
After SEC initiated a lawsuit against Ripple, many crypto exchanges removed XRP from their platforms. So, always check before creating an account with an exchange.
Is it Possible to Purchase Ripple (XRP) on Coinbase?
As of late 2020, XRP has been delisted from Coinbase, with additional exchanges likely to follow suit. When Coinbase announced that it would support XRP, it caused quite a stir in the cryptocurrency community. Many people predicted that Coinbase would never support XRP because it is too centralized, based on its standards for putting new currencies on the exchange.
All of that changed in the first few months of 2019 when Coinbase began allowing its customers to buy, sell, and exchange Ripple. Coinbase has swiftly risen to the top of the list of the best places to purchase XRP. To purchase Coinbase, all you need to do is register an account and link it to a bank account or debit card.
Because of the high focus that Coinbase places on security, many cryptocurrency traders and investors choose to do their business via them. Their policy is to retain the bulk of their cash in a cold wallet and urge all of their users to use two-factor authentication. Additionally, its user-friendly interface makes it simple to purchase cryptocurrency for the first time.
Coinbase is especially popular since, in addition to XRP, they support a large number of other currencies. For example, they support the US dollar, the euro, and the pound. They also accept a variety of stable currencies, such as DAI and USDC, as payment.
Although Coinbase formerly permitted its customers to buy bitcoin with a credit card, this is no longer an option. When purchasing Ripple using a credit card, certain exchanges, such as Binance, still enable this option, but a third-party source processes all transactions. Coinbase, on the other hand, allows users to get free bitcoin via its Coinbase Learn offering, which educates you on the fundamentals of cryptocurrencies.
Purchasing Ripple (XRP) with a Bank Transfer
It’s crucial to understand the distinctions between purchasing Ripple using your bank account and using a debit card. When you purchase XRP via a bank transfer, it may take up to five days for Coinbase to process the transaction and release the XRP so that you may move it off of their platform.
That lengthy wait period is a significant drawback. The benefit of using the bank method, on the other hand, is that the charge for acquiring XRP is smaller. Furthermore, there is no need to worry about price slippage since the price is locked in as soon as you click the “Buy” button on the website.
When using a debit card to acquire Ripple cryptocurrency, the costs are more significant, sometimes reaching as much as $10 for a minimal transaction like this one. However, the benefit is that the XRP is instantly accessible for purchase. You may move your XRP from Coinbase to an external wallet of your choice in a matter of seconds using the Transfer button.
Recently, many consumers have been asking Google where they can acquire the cryptocurrency Ripple to save their money. The ideal platform for purchasing Ripple may vary depending on your location and the exchanges you have access to.
You may transmit any cryptocurrency, including XRP, it is vital to remember since the transaction is permanent. Bank transfers and PayPal payments may be reversed; however, cryptocurrency transactions cannot be reversed. Therefore, it is critical to double-check that you are transferring coins to the correct address before clicking on the “Confirm” button to transmit them.
Additionally, storage is quite crucial. Remember that it is never a good idea to keep any considerable quantity of XRP on a cryptocurrency exchange. If you want to store bitcoin on an exchange, you should only hold the quantity of cryptocurrency that you are ready to lose. Exchanges are constantly being hacked, and if your coins are taken from an exchange, there is a great risk you may never be able to recover your funds.
While desktop or mobile wallets are good options for keeping your Ripple, a hardware wallet is the most secure method to protect your investment. Trezor and Ledger are two of the most popular hardware wallets on the market. If you’re going to purchase XRP Ripple, you should think about purchasing one of these as well.
A seed phrase will also be sent to you when you establish a wallet for the first time, whether on a desktop or hardware. This seed phrase should never be saved on your computer or anywhere else on the internet. Hackers may take all of your cash if they obtain access to your computer’s data. Always jot down the seed phrase in a notebook and keep it someplace secure.
Remember to keep your seed phrase in different places as a last precaution. Unless a fire or water destroys your hardware wallet and seed phrase, there is no way to recover your cash. When it comes to cryptocurrency, redundancy is usually a good idea.
We’ll look at how to purchase Ripple now that we’ve discussed the fundamentals of cryptocurrency.
How to Make a Direct Purchase of Ripple (XRP)
To begin, you’ll need to sign up for an account on an exchange that has an XRP USD pairing.
Although, Coinbase is often considered the most acceptable XRP exchange, Kraken also enables its users to purchase XRP Ripple using US Dollars. The best location to purchase Ripple with USD may vary depending on where you reside in the world.
After enrolling on a cryptocurrency exchange, you may add your payment method, either a bank account or a debit card, and then purchase Ripple using that payment method. Once the payment has been received and processed, you may withdraw your coins to a third-party wallet. That is all there is to it in terms of explanation. Congratulations, you have successfully become a bitcoin investor.
Suppose you don’t have access to a cryptocurrency exchange to acquire Ripple using USD. In that case, there is another option: you may purchase Bitcoin first and then swap it for Ripple XRP, which is a cryptocurrency.
How to Purchase Ripple (XRP) Using Bitcoin
Finding an exchange that will allow you to purchase Bitcoin with US dollars is straightforward. Bitcoin is the most widely used cryptocurrency by far, and it is supported by every major (and minor) exchange in the world.
First, to purchase Ripple XRP with Bitcoin, open an account on a cryptocurrency exchange that supports the XRP BTC pairing. This page contains a comprehensive list of the exchanges that support this trading pair. Once you’ve done so, open a second account on the exchange where you’ll be purchasing the Bitcoin (if the exchange where you’re purchasing the Bitcoin doesn’t offer XRP).
Once you have opened an account on both exchanges, you may purchase Bitcoin and then transfer it to the exchange that has the XRP/BTC pairing in place. As soon as the Bitcoin transaction has been completed successfully, you may exchange the Bitcoin for Ripple, and you’ll be ready to go! Make a withdrawal of XRP to your hardware wallet, and then store the Wallet someplace secure.
The drawback of purchasing Ripple in this manner is that you will be charged trading fees for the BTC to XRP conversion. Additionally, there may be costs associated with the Bitcoin withdrawal. This approach should only be used if you cannot register on an exchange that supports the XRP USD pairing.
Is it Possible to Purchase Ripple (XRP) with a Credit Card?
Although it is not as simple as it used to be, purchasing Ripple cryptocurrency using a credit card is still a viable option today. There are a variety of approaches that may be used to do this, so we’ll focus on just a few of the more prominent ones. Once again, the optimal onboarding platform will be determined by your geographical location and the cryptocurrency exchanges you may participate.
Purchasing Ripple (XRP) via Binance
It’s no coincidence that Binance has grown to become the world’s biggest cryptocurrency exchange. More trading pairs are available on them than on virtually any other exchange, and they are continually introducing new ones.
They enable their customers to trade Ripple and even purchase it with a credit card using their platform. To do so, you must first register on Binance. As long as you are not a resident of the United States, this should be straightforward. A Binance subsidiary exchange with headquarters in the United States, although it is only allowed to purchase Ripple with a debit card at this time.
Obtaining your XRP is as simple as following these steps after you’ve enrolled on Binance:
- Access your account by logging in.
- On Binance’s website, locate the menu option “Fiat” in the upper-left-hand corner and click on it.
- There will be an option to “Buy Crypto” under the heading “Fiat” – You should click on this.
- Choose XRP and then define how much you wish to spend on the cryptocurrency.
- Continue by clicking on the Next button.
- If you haven’t already, you’ll need to complete the Know Your Customer (KYC) verification process. Many cryptocurrency exchanges, particularly those that accept credit card payments, require you to complete this step.
Following successful completion of the KYC verification process, you will be able to purchase Ripple using a credit card, albeit there are restrictions on how much you may purchase at one time.
Purchasing Ripple (XRP) using Coinmama
With Coinmama, consumers may acquire Ripple using a credit card, which is a convenient option for many. Especially in countries like Germany and France, it is one of the most widely used fiats to cryptocurrency exchanges on the continent.
To learn how to purchase Ripple on Coinmama, the first step is to sign up for a free account. You must have a valid email address to participate.
Before you can use a credit card to purchase Ripple, you’ll need to verify your identity, just as you would with Binance. After you have passed the verification procedure, you will proceed with your purchase. Enter the address where you would like Coinmama to send your Ripple, followed by the amount of Ripple you want to buy. To purchase Ripple, click on the Buy button, wait for the transaction to complete, and the money will be instantly sent to your wallet address.
Coinmama is particularly beneficial since they provide both a USD and a EUR option, allowing you to purchase Ripple in whatever currency is most convenient for you.
Ripple (XRP) may be Purchased Using a Crypto Wallet
The last method of obtaining some Ripple is not via one of the exchanges but rather through a cryptocurrency wallet. Atomic Wallet, for example, allows its customers to make payments for Ripple using a credit card via the platform.
A key benefit of purchasing cryptocurrency using a wallet is that the coins are transmitted straight to your wallet address, eliminating the possibility of accidently losing your cryptocurrency. As a result, it is an excellent choice for consumers considering purchasing Ripple for the first time.
Anyone interested in purchasing Ripple might consider using Free Wallet as an alternative option. Free Wallet is a popular Ripple wallet that has been in use since 2016. It is free to use. While four years may not seem like much time, in the world of cryptocurrencies, a corporation that has been in operation for four years has earned some respect.
Helpfully Free Wallet is accessible as a mobile wallet for iOS and Android devices and a desktop wallet for Windows, Mac, and Linux computers. When using a mobile wallet, you have the benefit of being able to spend cryptocurrencies more efficiently at a retail location.
Even though a desktop wallet is often safer, it is not feasible to spend cryptocurrency in a physical place if your coins are saved on your computer.
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