How to Buy Ripple Cryptocurrency?
Okay, so you have finally landed on this page, it means you’ve convinced yourself to buy some Ripple Cryptocurrency, right? Maybe you know or perhaps not, but let me tell you Ripple has indeed a bright future ahead.
If you peeps are still brainstorming whether the decision of buying Ripple is worth or isn’t it. Don’t worry I’ll make it dead simple for you.
I’ll continue with letting you crystal clear a “million dollar” myth. Mind it. Investing some penny in cryptocurrency doesn’t mean you’ll make a million dollars overnight. Just don’t go with this expectation.
However, it is quite an industrious task to figure out what exactly will work in cryptocurrency market cap. Moreover, if you rewind the cryptocurrency community, you will get to know that out of the top 5, Ripple was the least talked crypto. But we have to admit it despite the fact that it is crypto specifically for banks. Nevertheless, the receiving admiration from all over the world made Ripple brighter than the others.
Ripple has grown tremendously since January 2017, and still, there is no halt at all.
After being a great platform, Ripple has diminished old system of transferring money. Earlier it was via SWIFT or Western Union, and now they are actively focusing on some appealing terms like collaborating with banks, offering them more efficient and remunerative way to direct immediate payments globally. It is perhaps the main reason I believe why Ripple has become such global settlement network.
Ripple can be bought from a number of websites and exchanges available in the market. Additionally, it can also be stored securely in some of the popular XRP wallets. With that said, here’s what you need to know to get started with Ripple Cryptocurrency. If you want to buy some Ripple for you so, the primary step you should follow is concluded in the below sections.
Here in this article, I’ll let you know how one could buy Ripple cryptocurrency and help you understand everything you need to start holding XRP.
How to buy Ripple Cryptocurrency in 3 Simple Steps
I have categorized the whole process of buying Ripple (XRP) in 3 simple steps.
There are several options available for buying Ripple. You can purchase it by fiat currency (i.e., USD, EUR, etc.) or you have another option available trade Bitcoins for Ripple on particular exchanges. This guide explains you many different ways and best exchanges to buy Ripple (XRP).
So without further ado, let’s have a look at the first step:
Step 1 – Get a Ripple Wallet
Before you may ask why I’ve mentioned this one as the very first step? The reason is, before we move onto the primary guide, I want you to know that “NEVER STORE your XRP on an exchange!”
If you’d already have made your mind to get your hands on Ripple market, so it’s better to get a wallet for yourself in order to safely secure your digital money. I believe that withdrawing XRP to an offline wallet is the smart decision you’ll be made ever when it comes to trading Ripple.
The only advantage of having an offline wallet is that you’ll be got an entire control over your digital money. If you prefer maximum security so, arguably getting a hardware wallet for your XRP is the best option available. Being a hardware wallet, you can carry it anywhere with you.
Also, there are undoubtedly many hardware wallets available for the same. But, as we know that every market has their dominators in their respective niche’s which has opted the top place in the market for the services they are providing to their customers and the level of trustworthiness. Thus, in our case Ledger Nano S is currently the only reliable option available and you should consider it as a boon for your XRP and number of other cryptocurrencies trading.
Ledger Nano S supports many popular cryptocurrencies like XRP, BTC, ETH/ETC, Stratis, Zcash, and Dash. You can order it from the official website here, and within 4-6 working days, it will be delivered to your doorstep.
Moreover, other available options are:
- Toast Wallet, which is a self-hosted and easy-to-use wallet available for holding Ripple. You can access it with the help of your mobile and desktop.
- Rippex is another desktop wallet available for Mac, Windows, and Linux.
Points to remember:
- For the complete security of your wallet, you should ensure that every Ripple wallet must primarily be funded with a 20 XRP reserve because considering this point won’t let any low-level spam attacks your system.
- Most importantly, when it comes to using a wallet to store Ripple or other cryptocurrencies, you’d better write down the secret key a number of times and store it in many safe places. The use of the secret key is to get access to the user wallet. Storing the secret key in a secure location in all your responsibility.
Step 2 – Find a Ripple Exchange
Often we find difficulty when it comes to addressing the best way to buy Ripple. If you’re still in a dilemma about which is by far the slickest of all options, so this section is for you.
Here I’m listing all the popular methods available on the internet to buy XRP so it might become easy for you guys to make a difference between and to know which suits you the best and is convenient too.
You can buy Ripple via Fiat currency, or you can trade Bitcoins. Let’s have a look at the elaborated view:
Purchasing XRP with Fiat currency is the best option available if you people don’t own Bitcoins. It allows you buy Ripple directly through a wire transfer or a credit card. Below are the two options available for purchasing XRP from Fiat currency.
1. Buy Ripple (XRP) on Bitstamp – With Fiat Currency
If you’re living in the US and wants to buy Ripple with USD, Bitstamp is the great place for you to purchase XRP.
Firstly, you need to open and verify your Bitstamp account. Once your get successfully confirmed, you will be able to deposit funds and buy XRP.
- Click here and it will redirects you to the official site of Bitstamp where you need to register for a new account.
- Enter your details and tap on the REGISTER button. And you’ll get an e-mail with username and password on your registered e-mail address within a couple of minutes.
- Once you got the e-mail from Bitstamp, login here with the provided username and password.
- Now it will ask you for change the password, do it.
- For additional security measures, you should also enable two-factor authentication.
Finally, you have done with account creation, and now it’s time to verify it.
- To submit a verification request, visit here.
- You will witness a form right on your desktop screen. Enter all the required information in the prescribed boxes given and upload your documents. Once you completed the form click SUBMIT VERIFICATION REQUEST to proceed.
- Your verification request will be submitted.
After that you have to leave rest of the things on Bitstamp, they will review your information and revert with the appropriate results to your registered e-mail address.
Moreover, If you want further assistant regarding account verification you can visit their support by clicking here.
Once your account gets successfully verified, you can readily deposit your funds and purchase Ripple (XRP).
- To deposit funds first log in your account and choose the Deposit option which lies at the top.
- Now you need to select your preferred bank transfer option in the left-side menu (SEPA or International wire).
- Then enter all the required information and tap DEPOSIT to proceed.
- On the next page, you will get Bitstamp bank details, and then you have to deposit funds to your Bitstamp account.
- Once your funds got credited to your Bitstamp balance, you will receive a notification on your registered e-mail address letting you know the same.
- Also, you can inquire your Bitstamp account balance by clicking here: https://www.bitstamp.net/account/balance/
Now your account has been credited, and you are ready to purchase XRP.
- Select your correct trading pair (XRP/USD, XRP/EUR, XRP/BTC).
- Visit the Buy/Sell section and choose Buy XRP.
- Then enter the amount you want to spend on Ripple and click on BUY XRP.
- Congrats, you have successfully purchased XRP, and it will be added to your XRP balance immediately.
- You can check your balance by visiting your Bitstamp account balance info.
2. Buy XRP on Kraken – With Fiat Currency
Kraken is the another highly reputed cryptocurrency exchange that allows you buy XRP. If you are living in the EU and are willing to buy XRP with Euros, so this is something must essential platform for you to look into.
- First of all, visit the official website of Kraken and sign for an account.
- Once you have done with the signup process, they will send you a verification mail to confirm your registered e-mail address, activate it by clicking the link in the e-mail.
- Then log in your Kraken account, and now you have to verify your account.
- For verification click on Account > Get Verified.
- This verification is to make bank deposits required to buy XRP. Here you need to provide customer identification information, such as your name, phone number, and address. Sometimes you also have to upload a valid government-issued photo ID and proof of residence documentation for the verification purpose.
- After the verification of your Kraken account, you can easily deposit funds to your account by heading over to Account > Funding > Deposit.
- Once your Kraken account balance got credited, you can place an order to buy XRP by going to Account > Trade > New Order.
- Select the currency pair from the drop-down menu for which you want to trade.
- In a New Order tab select the Simple interface and place a Buy order for XRP.
- Enter the amount of XRP you want to buy and then place your order.
3. Buy XRP on GateHub – Trade BTC for XRP
GateHub is another great platform for buying Ripple (XRP). But here you cannot purchase XRP directly from Fiat currency. It is unlike the methods as mentioned earlier. In Gatehub you are going to need Bitcoins to buy Ripple.
The most popular and the best place to buy Bitcoins is Coinbase. Furthermore, Coinmama is also one of the easiest places to purchase Bitcoins.
Once you’ve acquired Bitcoin from any of the above options, you should set-up a GateHub account.
- Visit the official site of GateHub and sign up for a new account.
- After you sign up, you’ll get a recovery key (store it any safe place.)
- You’ll also get an email for the verification purpose of your account. Click “Activate Account” and it will redirects you to the official sign in page of GateHub.
- Sign in your account, and it will ask you for choosing the account type, select according to your preference.
- Then you’ll witness an identity verification page, enter all the required information to proceed. Though it is not that necessary to give any of this information because it’s essential only where we trade with fiat currency.
- In the main home page on the left panel, you will see an option called “Wallet.” Click on it and then press “Deposit / Receive” to get your XRP address.
- Now you need to head over to the ShapeShift.io and select the assets you want to trade to, choose “Deposit as Bitcoin” and “Receive as Ripple” and click Continue.
NOTE: An unfunded Ripple wallet requires a minimum of 20 XRP for the initial deposit. If your exchange’s output amount is less than 20 XRP for an unfunded XRP wallet, your transaction will fail.
- Then you will be asked to enter some details like “Deposit Amount,” “Your Ripple Address (destination address),” and “Your BTC Refund Address.”
- Provide all the appropriate information and click on “Start Transaction.“
- Now all you need to do is, you will get an address where you need to send your Bitcoin, and you’ll get your Ripple on your GateHub account.
Not that tough, right?
Another most straightforward way to trade Bitcoin for Ripple is by instantly exchanging it on Changelly or Shapeshift.
Step 3 – Withdraw your XRP to your Wallet
Do you think buying XRP on an exchange is implies to a job done?
If you think so, you are incredibly wrong, it only means isn’t yet you have completed the whole process of Ripple purchasing. Once you have done with the XRP purchasing, you should always withdraw it to your wallet to be on the safe side
Finish the process of Ripple by withdrawing it to your wallet is the thing which I often recommend. Do not leave your XRP on the exchange you bought them from.
Now if you may ask why I am recommending this that strongly so I have a scientific aspect for this too. See, this is due to the fact, despite buying Ripple (XRP) still, you actually don’t have the control to the private key, and therefore, they are not yours.
Now I guess you have got my point, no need to prolong it.
I hope this definitive guide will leave you to ask for nothing more regarding how to buy Ripple cryptocurrency. I have concluded all the popular methods and exchanges that will aid you to get your query solved.
Feel free to let us know what you think about the aforementioned methods and how this article helps you get your first Ripple (XRP) purchase.