XRP, also called Ripple , is gaining ground as one of the leading cryptocurrencies . Ripple has partnered with major financial providers such as Western Union, SAMA, UBS and Santander. Cryptocurrency promises to deliver long-awaited cross-border payments that are low-cost, reliable and immediate.
If you want to have your own XRP, you may already be aware that these horses are not harvested but owned and periodically launched by Ripple Labs. Wondering what is the best way to buy Riple? Here’s a quick guide to how to buy Ripel:
Choose the right crypto exchange
Probably the easiest way to get XRP is from an established cryptocurrency exchange operating in your country.
Any stock market, whether small or large, is sure to have a list of XRPs on offer.
While heading to a particular stock market, you need to do some preliminary research on it. Cryptocurrencies are inherently high-risk assets and equally profitable. Therefore, they also attract many fraudsters. So be sure to do your careful research before choosing a platform where to buy XRP.
Crypto exchanges must have a well-established team and headquarters, which can be found on Twitter or LinkedIn, reliable support, decent liquidity, security of trading funds and more. Some of the well-known names are Binance , Bitfinex , Coinbase , Kraken and eToro .
Registration and deposit of funds
Once you have selected a suitable cryptocurrency trading platform, you should register with it as a legitimate user.
This means that you will need to provide some personal information that is part of the KYC (Know Your Customer) check, which confirms your status as a well-meaning citizen of the particular country or country of residence.
Exchanges make this check to comply with global anti-money laundering (AML) regulations.
Once your data has been verified by the stock market employees, it’s time to use your newly opened crypto trading account to buy XRP. But for that you have to deposit some fiat currency.
Just deposit money with your bank account or debit card registered by you. Typically, cryptocurrency exchanges do not have a high minimum investment, so you can only invest $ 5 or even $ 1000 or more. This, of course, depends on the laws of the country or country of residence, as well as its official currency in circulation.
Generally, it can take a few minutes to a few hours for the funds to appear in the account of your chosen cryptocurrency trading platform. It depends on the speed of processing of banks and exchange transactions, protocols, etc.
Once you’ve made your deposit, you can use it immediately to purchase XRP after you go through current rates and trading volumes.
How To Buy Riple With Bitcoin (BTC Trading For XRP)
There is consensus throughout the Ripple community that the cheapest way to buy XRP is by buying bitcoins that you can then trade for XRP. The easiest way to trade Bitcoin for XRP is to trade it quickly on the Binance exchange. Kraken and Bitstamp are other popular exchanges that allow users to trade bitcoins for XRP.
Where to store Ripple (XRP)
I would not recommend leaving your XRP horses on the exchange from which you purchased them. This is due to the fact that you do not actually control the personal key for your coins and therefore they are not really yours.
As with most cryptocurrencies, you have the option of choosing a software wallet or a hardware wallet. Software portfolios are freeware programs that are generally considered less secure and therefore suitable for smaller amounts of money.
Hardware portfolios, on the other hand, are physical devices that connect to your computer as a flash drive and store your personal keys on the device itself. They are considered the safest form of storage for cryptocurrencies.
Ledger Nano X is a hardware wallet that allows you to store XRP as well as many other cryptocurrencies. It can also connect to your mobile phone via Bluetooth.
Edge – Formerly known as Airbitz, Edge is a mobile wallet running on iOS and Android operating systems. It can store several cryptocurrencies, including XRP.
Exodus – a beautifully designed software portfolio that supports XRP and over 100 other crypto assets. The portfolio also has a stock market for users who want to replace XRP with other cryptocurrencies and vice versa.