Ripple 101

3 Platforms where to buy Ripple (XRP)

The Ripple protocol aims to revolutionize the global liquidity of money by enabling fast transfers of value across the globe. Slowly it’s promising to make the old system of transferring money via Western Union and SWIFT obsolete. Through its native currency XRP, it’s possible to send and exchange any fiat currency for another one within seconds.

Now the platform is busy partnering with financial institutions as its use case is visible. Currently, XRP is trading at $0.5 and its price promises to gain even more once banks start utilizing it to transfer value. Below we are going to look at three platforms where you can buy Ripple to ensure you don’t miss out on future price increases.

Binance

When it comes to where to buy Ripple, Binance is the place to go. It’s a crypto to crypto exchange that supports many crypto coins. The platform boasts some of the lowest fees at (0.05%). Additionally, it has a fantastic security system to protect your crypto coins.

To get started, one has to first sign up on the platform. The process is fast and easy and accepts users from all countries with no verification needed.

where to buy Ripple

After you sign up, proceed to the navigation bar and click on deposits. Here you will find the deposit address of every crypto coin the platform offers.

where to buy Ripple

It’s important to note that XRP can only be bought on the exchange using Bitcoin or Ethereum. So depending on the currency that you are using, you have to locate that currency deposit address and copy it. Below we are going to look at doing a transaction in cryptocurrency.

where to buy Ripple

So assuming you also use Coinbase and you hold some BTC or ETH there, you can log in to your account. Go to the accounts tab and click send. The process applies to both crypto coins.

where to buy Ripple

After you click send on the crypto-coin you are sending to Binance, click continue and then confirm. The currency will be sent to your Binance account within half an hour.

where to buy Ripple

After you receive your BTC or ETH on Binance, then proceed to the corresponding trading pair. If its bitcoin, then it will be BTC/XRP, if its ethereum, ETH/XRP.

where to buy Ripple

After clicking on the trading pair, you will be taken to a page where you will enter an order in the bottom middle section.

There are two options when it comes to placing an order.

For beginners, it’s recommended to place a market order where you select the amount of cryptocurrency to want to buy then the exchange will buy that amount for you at the going rate.

The other option is a limit order. Here you get to choose the amount and price you want to buy the crypto-coin at. The order is only executed when the price hits the set target. If you decide to use this method, check the order books and the chart to get a good idea of the price.

Coinmama

Its one of the older exchanges in the crypto space and it has been adding more fiat pairings on the platform. XRP is their recent addition; however, due to laws and regulations that surround Ripple being a security, the coin is not accessible to US citizens. The exchange supports crypto purchases using debit or credit cards.

First of all create an account by visiting the platforms website. Once you are logged in, use the navigation bar to find Ripple. Then proceed to choosing a package from the four below, but, its possible to make your own.

where to buy Ripple

However, the platform requires you have an address where you will send your XRP to, so ensure you have a Ripple wallet before making any purchase. Check out this link for some of the best XRP wallets.

Changelly

It’s one of the most accessible platforms where to buy Ripple and Its available in all countries around the globe. However, to purchase XRP on the platform, you will need BTC or ETH. The exchange doesn’t hold any coins, so one needs to have a Ripple wallet.

Ripple tries to minimize the amount of available XRP addresses, so they require each address to have a minimum of 20 XRP in it. As long as your first XRP transaction to your new wallet is worth more than 20 XRP, then you are good to go.

After you are done setting up your ripple wallet, go to the site and select your input currency. The input currency is the crypto coin you are sending to the address in exchange for XRP.

It’s recommendable to choose BTC or ETH as your input currency, but any coin on the site can be used. For output, select XRP.

where to buy Ripple

From here you will be taken to the page below. The destination tag is optional, and you can include notes about the transaction.

where to buy Ripple

Then you need to send BTC or ETH or any other currency of your choice to the deposit address provided by Changelly. Afterward, the deal is processed, and the funds are sent to the address.

So those are three places where to buy Ripple that offer a fast and convinient way to purchase XRP.

coinmag

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

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