A beginner’s guide to investing in Ripple XRP 

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This is one of the most exciting altcoins after Ethereum. It was a one-point the second most valued cryptocurrency in terms of market cap. 

So if you are looking into investing in XRP I thought I’d share an easy to follow guide on how you can buy XRP!

What is Ripple and XRP?

Ripple is a type of blockchain that focuses on delivering value through fast, cheap and global payments. And they are focusing on bringing this value to the banking sector. Who today make millions of transactions each year. All at a slower pace and with larger fees. Hence the opportunity for Ripple!

Today Ripple have a partnership with many of the high street banks. And payment providers like VISA. So since it was launched back in 2012 Ripple has grown to become one of the power-houses of the blockchain and crypto world. With real usage and partnerships to support its growth.

And the cryptocurrency XRP is used every time a transaction is performed on the Ripple network, a small amount of XRP is charged to the user (learn more).

How do you buy XRP?

Ripple (XRP) coin illustration

 

Basically you can do so in a couple of different ways. And I am talking here about buying real XRPss and not any certificates that might be available at various investment sites.

 

There are a few available options you could use for buying Ripple XRP.

 

The main ones are:

 

  1. Buy XRP from an exchange or broker site – buy XRP here because it’s easy, cheaper and many options available
  2. Buy XRP from an OTC desk – buy XRP here because you want to buy XRPs for more than $100k

 

So unless you are planning to buy large sums of XRP I’d recommend you using #1!

 

Buy XRP from an exchange or broker site

 

This is the most common approach people take today to buy XRP. But it includes buying other cryptocurrencies too.

 

Basically a cryptocurrency exchange is an online exchange site where sellers and buyers meet to trade one cryptocurrency for another.

 

And broker sites are usually a service provider that offers you to buy a cryptocurrency like XRP for a fixed price. And then they source these cryptos from a liquidity provider.

 

Since XRP is fairly popular you will have more options available to you compared to some other more obscure altcoins.

 

Before I share the list of brokers and exchanges with you I thought it would be good to reinstate the steps to go through to buy and store your XRP. If you are looking to find a good XRP wallet you can use this guide.

 

  1. First decide which exchange or broker you want to use
  2. Register (if necessary) an account
  3. Add your bank card or bank account and pay with the card or make a transaction from your bank to your broker/exchange account
  4. Buy XRP
  5. Send your XRP to a Ripple wallet (you need to send 20 XRPs to activate any Ripple wallet)

 

That’s it!

 

Let’s have a look at the different options you could use to buy XRP at a broker site.

 

These are my top recommendations. I’ve picked these because they are easy to use and trustworthy!

 

Best brokers to buy XRP from

 

These work fairly similarly. With Changelly you need a wallet to start off with, so use the Ripple wallet guide to get one that you like.

  1. Coinbase
  2. Bitpanda 
  3. Changelly

It works fairly similar at all these broker examples:

  1. Register an account
  2. Buy XRP with a bank transfer or card payment
    1. With Changelly you need to add your XRP wallet here
  3. Send your XRPs to your Ripple wallet

Best exchanges to buy XRP from

Ripple (XRP) wallet illustration

Ok if you want to buy XRP from an exchange then you need to find one that accepts bank transfer or credit/debit card purchases. Unless you already have some other cryptocurrency to trade with. Then you could for example trade some BTC for some XRP.

The process of using a cryptocurrency exchange is similar to a broker site. So why should I separate them? Well to make it super clear for you. And in the case someone else would mention brokers and exchanges for you then you would already know what they were talking about.

Recommended exchanges to buy XRP from:

  1. Binance (buy with crypto, bank transfer or card payment)
  2. Kraken (buy with crypto or bank transfer)
  3. OKEx (buy with crypto or card payment)

And the steps are similar to the broker services.

  1. Register an account
  2. Make a bank deposit or buy XRP directly with your card
    1. Buy XRP if with a bank transfer (1-2 days later)
  3. Send your XRPs to your Ripple wallet!

That’s it.

I hope this guide to buying XRP was simple and clear enough. Good luck!

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