How to Buy Ripple: 5 Methods!
It seems as though everyone is jumping on the cryptocurrency train right about now. And Ripple (XRP) is quickly becoming one of the hottest alternative coins on the market. So let’s learn how to buy Ripple!
First, What Is Ripple?
Ripple, (also known as XRP) is a form of cryptocurrency and a platform. Technically, XRP is the cryptocurrency and Ripple is the name of the company and network or platform that is an open source protocol designed to allow fast and cheap digital transactions. Ripple has created a name for itself, and certain financial institutions and analysts predict a strong future for this network. This platform also is expected to increase the global liquidity of money by allowing transfers around the world to take place at record speeds and for low fees. Ripple or XRP can be bought on various exchanges such as Bitstamp, Kraken, and GateHub.
Ripple, or XRP, is a form of cryptocurrency and a platform.
The company and network platform are typically referred to as Ripple, and XRP is considered the cryptocurrency.
XRP, and all major cryptocurrencies, peaked in early 2018. The value of one XRP reached $3.65. However, in 2020, after a good start, XRP lost more than 90% of its value from its 2018 high, and it was one of the worst players among digital currencies of 2019. The price as of June 2020 was around 19 cents a token.
Learn How to Buy Ripple in 5 Ways!
1. How to Buy XRP on Bitstamp
Like other cryptocurrencies, Ripple or XRP is available on several different exchanges one of which is Bitstamp. They provide XRP/EUR, XRP/USD, and XRP/BTC trading pairs. To buy XRP on this exchange, you’ll first need to create and verify an account with Bitstamp. Head to the Bitstamp website to open an account, and follow the instructions to confirm your registered email address. After the account is active, log in, and follow any further instructions to secure and verify your account.
After that, you’ll need to deposit funds within the main page of the account using the “Deposit” link. Once the deposits you made have been credited to your Bitstamp account, you’ll get a notification from the exchange. You can then buy Ripple or XRP on Bitstamp by choosing the correct market for your currency and completing an order in the main account.
2. How to Buy XRP on Kraken
Kraken is another cryptocurrency exchange that you can use to buy Ripple XRP. To do so, visit the Kraken page to sign up for an account. Follow verification instructions and log in.
After that, deposit funds into your account. To buy XRP on Kraken, you have to first buy XBT. Place an order to buy XBT, and then place an additional order using the XRP/XBT currency pair. This will permit you to complete your transaction for XRP.
3. How to Buy XRP on GateHub
As with the other crypto exchanges on this list, to buy Ripple or XRP with GateHub, you’ll first need to visit the GateHub website and sign up for an account. Store your recovery key and verify your account, confirming through your email as instructed.
After that, sign in, and be prepared to verify your identity before being able to conduct transactions. You’ll then need to connect a gateway to deposit your money. Once you’ve deposited funds, you’ll be able to buy XRP on the “Exchange” page.
4. How to Buy Ripple with Coinbase and Binance
There are several different crypto exchanges with which to buy Ripple. There are many other exchanges that also provide access to XRP: CoinOne, Bitso, Coincheck, Korbit, Bitbank, Qryptos, BTCXIndia, or Bitsane.
As an example, let us use exchange Binance first. As is common with a lot of exchanges, you can’t buy Ripple directly on Binance with USD, so you will have to buy another coin like Bitcoin or Ethereum first and transfer those to Binance. You can buy Ripple directly on Coinbase.
To buy Ripple with Coinbase and Binance, follow these steps:
Create an account on the Binance site. This will include making a password and putting your email in.
You’ll have to transfer your Bitcoin (or other cryptocurrency like Ethereum or litecoin) into your Binance account first. You can do this by scrolling over the “funds” button on the top of the screen and tapping on “deposit withdrawals.”
Select the coin you are exchanging from, like Bitcoin (BTC) and select the “deposit” button.
Copy the BTC address provided.
Then, log in to the exchange you used to buy Bitcoin, like Coinbase (as I will use in this example) and go to “accounts.” You can purchase Bitcoin on Coinbase using a linked bank account or debit card.
Go to your BTC wallet on the left hand side of the page and click “send” BTC. There usually is a small fee.
Paste the Bitcoin address that you used on Binance into the “recipient” box and put in the amount you wish to transfer.
Then, log back into Binance and below the “funds” section, go to “deposit withdrawals” and check “total balance” – you should see the Bitcoin that you transferred.
To exchange your Bitcoin into Ripple (XRP), click on the “exchange” button on the top of the page and click “basic.”
Search for “XRP” in the search box and choose from BTC (so it will be “XRP/BTC”).
Click the amount of your Bitcoin you wish to transfer to Ripple (you have options that include 25%, 50%, 75% or 100% of your BTC). Choose what amount you would like and click “buy XRP.”
The transfer should be fast, so once you have purchased the Ripple, check your funds tab again and you should see XRP under your total balance.
5. How to Buy Ripple with USD
Another way to buy Ripple is through Bitstamp, which you can use to directly transfer USD to XRP. Especially since the Ripple website, lets you buy Ripple directly with your cash (whether that be USD, EUR, or other) via your bank account or credit card. To get started:
Make an account on Bitstamp and enter the required information – a username and password is sent to you via email.
Log in to your account with the username and password provided to you, and then immediately change your password when prompted. You should also enable two-factor authentication.
You may upload documents that fit the requirements. Hit “submit verification request.”
Once verified, go to your account and click the “deposit” button, where you will be able to select what bank transfer method you want to use on the left-hand side.
Select “international wire transfer” and fill out any information needed.
Then, use Bitstamp’s banking details to transfer funds from a bank account you have to Bitstamp.
After your funds have successfully transferred to Bitstamp, click the market you wish to exchange (to buy Ripple with cash, click the XRP/USD market). Then, go to the “buy/sell” section and click “buy XRP” under “instant order (simple).”
Enter the amount you wish to buy into the “I want to spend” box and click “buy XRP.”
XRP will be added to your total balance in your Bitstamp account.
Although procedures will be a bit different depending on the exchange you use, most are fairly straightforward to use and understand. Make sure to do research before using any exchange to avoid any illegal sites. Many people use PayPal as a way to buy Bitcoin as well.
Why Buy Ripple?
Ripple was originally founded in 2012 under a different name, but rebranded in 2015 to Ripple Labs. The exchange-slash-token has quickly grown in popularity due to how it allegedly has very minimal transfer time in exchanges and low fees.
XRP or Ripple, an alternative to the likes of Bitcoin, Ethereum, and Litecoin, is different from most cryptocurrencies because it actually uses connections to banks and companies.
According to Ripple’s website, it is currently used by companies like American Express (AXP) – Get Report, Santander (SAN) – Get Report, Standard Chartered (STAN), and Westpac (WBK) – Get Report.
As of early 2018, Ripple was projected to surpass Bitcoin’s market capitalization, according to CNBC. So, Ripple is certainly having a moment. On its site, Ripple claims to have “connectivity across payments networks, instant, on-demand settlement, real-time traceability of funds, and low operational and liquidity costs.”
And, if you’re needing that cryptocurrency ASAP, Ripple brags a payment settlement time of 4 seconds (that’s compared to Bitcoin’s average 1 hour or Ethereum’s typical 2 plus minutes).
Ripple’s XRP price is $0.4656/coin with a 30-day XRP volume of $6.86 billion USD. And, with a market capitalization of around $47 billion USD, Ripple and cryptocurrency seem to be on a train without brakes!