Are You Thinking of What Platforms to Buy Ripple on Cheaply and Safely
So, you want to buy, hold, or exchange Ripple …
But you still haven't found out where to start and if you have, you're most likely unsure whether you're doing the ideal thing by putting your money in Ripple (XRP).
Ripple is not new in the cryptocurrency space, but what is relatively new is that is extensively used in the different trading platforms around the globe.
Big names such as Binance, Coinbase, Cex.io, and more now feature XRP on their platforms. As much as this is a good idea, sadly, it has left some more baffled about where to buy Ripple.
In this guide, I will show you not just where to purchase XRP but also how to tackle buying it on the highlighted platforms, and I will also respond to a few of the frequently asked questions about this topic.
What is Ripple?
Ripple (XRP) is a mix of several things, The first thing to know is that Ripple is both a platform and a currency. The Ripple platform is an open-source protocol that is designed to allow fast and cheap transactions.
however, here's how to put it in a simpler way:
It is both a platform and a coin (XRP). The platform side of it is that it's a network for organizations such as banks offering payment services under the Ripple network to supply a frictionless way of sending out and receiving money around the world.
Its coin side (XRP) is a token used to show the transfer of value in the Ripple network. XRP is the financial representation of the value of the services provided by the Ripple network.
However, Ripple is various, from its structuring to its operations, and solutions. Below is a video of a few of the unique functions offered by Ripple:
Ripple is set to change the face of the monetary sector, more particularly, the banking industry. It provides these institutions a lucrative, efficient, and safe method of transacting globally.
These and other excellent developments have made the Ripple coin to clinch a spot amongst the world's leading three greatest capitalized cryptocurrencies.
Where to Buy Ripple?
At the time of composing this post, Ripple just trades with other cryptocurrencies and not with fiat currencies. It, therefore, indicates that for you to purchase XRP on any platform, you'd have to, firstly, buy another crypto like Ethereum or Bitcoin and then use that to acquire Ripple.
That said, here are great leading three picks for the best exchanges to buy Ripple stock:
The platform charges a fee of between 0.05% to 0.10% for the various transactions on its platform and it operates in almost all the countries. You can only purchase Ripple using fiat currencies on this platform. We'll look at it deeper quickly.
This is another budget-friendly platform for users to purchase Ripple. Among the main strengths of this platform is that it enables users to make purchases of cryptos using both fiat and cryptocurrencies.
Bittrex is also quite affordable and operates in most nations around the world. Nevertheless, it only allows for the purchase of XRP by using Bitcoin and Ethereum.
There are a few other platforms where one can invest in Ripple, but in this guide, we'll look at 3 popular ones.
How to Buy Ripple Stock on Cex.io?
The initial step when seeking to purchase Ripple on Cex.io is to develop an account. Given that Cex.io just enables direct purchases of cryptocurrencies using fiat, you'll require to transform your coins into a fiat currency in case you do not have liquid money.
When that's done and your account is developed, head over to the Buy/Sell icon on the website's homepage, then click on it and modify the default option to Ripple.
Next, select the currency you want to trade with XRP; this can the USD or the euro; then click on the “Buy” icon from the offered bundles.
Proceed to enter your payment information in the supplied fields and complete the purchase. Within a couple of minutes, your account will be credited with your Ripple coins.
How to Buy Ripple Stock on Bittrex?
Bittrex operates in nearly any nation you might consider. In addition, it is likewise one of the most affordable cryptocurrency exchanges with an average transaction fee of 0.25%.
The platform just enables its users to purchase Ripple by utilizing either Ethereum or Bitcoin. For this reason, you'll require to ensure that you obtain the coins and send them over to the exchange.
When the funds reflect on your Bittrex account, you can continue by going to the coordinating set; for instance, if you intend on using Ethereum to buy Ripple, find the pair that reveals “ETH/XRP” and select it.
In Bittrex, you'll have the choice to buy the coins at a price defined by you; this is called a limitation order. It is the very best way to get XRP on the platform. When a seller posts a project with a rate that matches yours, the platform will instantly perform the purchase and the coins will be credited to your account.
How to Buy Ripple Stock on Coinmama?
Coinmama is a popular exchange that constantly attempts to add a few of the very best coins to its platform. Among its current additions is XRP, which is currently the 3rd most traded crypto on the platform in addition to globally.
However, Ripple can not be bought by US citizens from the platform due to what the Changelly group terms as “technicalities” relating with the set laws and policies.
Other than that, it is simple to create an account on the platform and use either your debit or credit card to buy Ripple.
Frequently Asked Questions
What is the most convenient method to purchase Ripple?
The easiest and most safe way to purchase Ripple is through utilizing a platform that does not require you to move funds from one platform to the other before purchasing your coins. This is not only costly however also lengthy because some platforms take longer to confirm and perform their transactions.
Should I invest in Ripple?
Ripple is a job with a game-changing impact. Being the first task to integrate with standard banking systems, it is anticipated to serve a broader market and get more acceptance amongst the crypto and non-crypto users.
How can I buy Ripple in the United States?
Many Ripple exchanges work with the US traders; nevertheless, from the three noted platforms, Coinmama appears to be the very best shot for US traders due to their beneficial payment choices, lower hustles related to exchanging one currency for another prior to getting Ripple, and offering terrific security controls for its users.
In summary, I'll be straight with you: You'll realize that it is more difficult to buy Ripple as compared to its counterparts such as Bitcoin and Ethereum. Nevertheless, considering that you're serious about buying this space, this must post ought to come off as a good location to sieve out any “spoilers”.
In addition, the platform has some limitations regarding the minimum trading amount when starting out; you'll be required to invest at least 20XRP for your account to be totally active.
With all that in mind, I think you're all set to start buying XRP.