Uphold is a very popular choice because they have some of the most popular currencies easily available for purchase on their app or website. And while it’s not as simple to invest in, there are still platforms where you can do it (and we list them below). It was huge news in the crypto-sphere when Coinbase announced that they would support XRP.
- While some exchanges like Binance still allow for buying Ripple with a credit card, all transactions are handled by a third party provider.
- Ripple has had explosive price increases similar to other currencies, but it’s still very “cheap” in terms of price – roughly $0.30.
- They allow their users to trade Ripple and even buy it with a credit card.
- It’s important to note that Ripple is the company, and XRP is the coin, but most people simply call it Ripple.
By learning to trade cryptocurrency and following the steps presented in this guide you can be sure to purchase XRP quickly and without any risk. They allow their users to trade Ripple and even buy it with a credit card. There is a Binance subsidiary exchange based in the United Sates but it’s only possible to buy Ripple with a debit card.
What Is XRP?
An XRP address is a string of characters that starts with an r and is case sensitive. Following the SEC’s announcement, XRP’s price had suffered a massive drop, with several major exchanges closing all trading activities for XRP. According to Ripple, banks can realize cost savings of between 33-42% by using their protocol. Considering that banks perform thousands or perhaps millions of transactions every year, this would represent significant savings. Keep in mind that every account on the Ripple ledger requires an initial 10 XRP deposit to prevent the creation of fake accounts. Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3.
One of the major advantages of buying through a wallet is that the coins are sent directly to your wallet address, there’s no chance of accidentally losing your crypto. This makes it an ideal option for people who want to purchase Ripple for the first time. The final way to get your hands on some Ripple isn’t through one of the exchanges, it’s through a crypto wallet.
Atomic Wallet, for instance, lets its users make payments with a credit card for Ripple. Once you have an account on both exchanges you can buy Bitcoin then send it to the exchange with the XRP BTC pairing. After the Bitcoin transaction has cleared you can exchange the Bitcoin for Ripple and you’re good to go! Withdraw the XRP to your hardware wallet then put the wallet somewhere safe.
I wouldn’t recommend leaving your XRP on the exchange you bought them from. This is due to the fact that you don’t actually control the private key for your coins and therefore they are not actually yours. While large scale investors may be able to invest in Ripple directly, most other investors and speculators are limited to investing in XRP, Ripple’s native currency. The College Investor is an independent, advertising-supported financial media publisher, focusing on news, product reviews, and comparisons. Like any currency, there is a high degree of risk involved if you’re considering investing in Ripple.
Ledger Nano X – A hardware wallet that allows you to store XRP as well as a number of other cryptocurrencies. If you haven’t already done this you’ll need to complete the KYC verification. Many exchanges require this step, especially when using a credit card to purchase cryptocurrency. It’s important to note the differences between using your bank account to buy Ripple versus using a debit a card. When you buy with a bank transfer it can take as much as five days for Coinbase to clear the transaction so that you can send the XRP off of their platform. Initially, the ledger used digital assets called “ripples” and had the same currency code it does today, XRP.
If you don’t like the idea of a digital wallet and/or all of these steps, there are no ETFs that track Ripple yet. Once you have your Uphold account opened, and some USD or other crypto in your account at Uphold, you can buy XRP. One of these is XRP (Ripple) – which you can easily buy on the app, along with Bitcoin and others. Ripple has had explosive price increases similar to other currencies, but it’s still very “cheap” in terms of price – roughly $0.30. Coinmama is especially useful as they have a USD EUR option so that you can buy Ripple in whatever currency is most convenient for you. Ripple (the company) has been around for years and with their millions in funding and long list of high caliber advisers there’s a big chance that XRP is going to be successful.
Many crypto traders and investors prefer to use Coinbase because of the high priority that they place on security. They keep a majority of their funds in a cold wallet and encourage all of their users to set up 2FA. Also, their intuitive layout makes it easy to buy crypto for the first time. You can’t mine XRP, but you can be rewarded for participating in the blockchain, buy it, or receive it as payment.
However, given the low price point, it does have the possibility for a high return with low barrier to entry. For example, Ripple is the underlying network that powers the Futureverse, which is the company behind FLUF World, Root Network, and more. They have announced huge partnerships with FIFA and are a huge driver for growth in the NFT space. Having everything in your Uphold account makes tracking and following up on your cryptocurrency easy. First, realize that Ripple is subject to an SEC investigation and many exchanges have de-listed the token. It’s important to note that Ripple is the company, and XRP is the coin, but most people simply call it Ripple.
As with most cryptocurrencies, you have the option of choosing a software wallet or a hardware wallet. But we do have to make money to pay our team and keep this website running! TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with). As we move past Bitcoin’s tenth birthday more and more people are asking where can I buy Ripple?
Step 1 – Get a Ripple (XRP) wallet
If vindicated, Ripple has a solid chance to appeal to larger banks throughout the next couple of years, as it offers a fast scalable global payment network while reducing transaction fees. While XRP has some huge advantages over other cryptocurrencies, some would argue that it is a big brother platform for making global transactions. Ripple (XRP) is a different than many other popular cryptocurrencies because it was created by a private, for-profit company. This company wanted to enable a frictionless way to send money globally, and its coin Ripple is the way it does it.
Just one year later a single XRP was worth $3; a tremendous return on an investment. The outcome of the Ripple case is being closely watched by the investing and cryptocurrency communities. Ripple states that its XRP Ledger platform can settle transactions in three to five seconds.
Ripple Labs has since placed 55 billion XRP in an escrow account to ensure users stability in the marketplace. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product’s website. The cryptocurrency market has a history of long slumps followed by quick explosions in price to the upside.
After completing the KYC verification you’ll be able to purchase Ripple with a credit card although there are limits to how much you can buy at one time. Binance is the world’s largest cryptocurrency exchange, and for good reason. They have more trading pairs than almost any other exchange and they’re constantly adding new ones. The disadvantage of buying Ripple in this way is that you incur trading fees for the BTC to XRP exchange. This method is only recommended if you cannot register on an exchange with a XRP USD pairing.
Binance is another leading exchange that allows the purchase of certain cryptocurrencies (XRP among them) with a credit card, debit card or wire transfer. Ripple was originally (and still is) a payment processing platform that allows global transactions using it’s coin, XRP. It’s global payment network was started in 2012, and has continued to grow as companies have adopted it, and currency speculators have taken interest in Ripple. For years Coinbase allowed its users to purchase cryptocurrency with a credit card, however, that’s no longer possible. While some exchanges like Binance still allow for buying Ripple with a credit card, all transactions are handled by a third party provider. However, Coinbase does allow you to get free cryptocurrency through its Coinbase Learn product, which teaches you the crypto basics.
The goal is to turn XRP into a stable currency that doesn’t deviate in value much, so banks would be comfortable moving into it without fear of volatility. As it stands, many banks don’t want anything to do with XRP because it can dramatically change in value overnight or even in a few seconds. As it currently stands, Ripple is an exciting fintech organization with its innovative financial platform. It’s been included in Forbes’ annual Fintech 50 several times, most recently in 2020.
You can learn more about him on the About Page, or on his personal site RobertFarrington.com. Helpfully Free Wallet is available as either a mobile or desktop wallet for Windows, Mac or Linux. The advantage of a mobile wallet is that it makes it simple to spend cryptocurrency at the store.
While the recent price action in the crypto market hasn’t been encouraging, savvy investors are looking at this as a great opportunity to buy XRP while the price is low. Not everyone knows how to buy XRP though and that’s why we’ve decided to write this article. Ripple has remained focused on its overarching goal of providing a fast global payment system through a pandemic and the following economic turmoil. And as with all cryptocurrency – Remember that where there is great reward, there is also great risk involved.
Keep in mind that while credit card purchases are faster, they also cost more in terms of fees. So if you have the option to pay with a wire transfer and are not stressed on time, you’ll be able to get a better price. XRP is designed as a utility token for use within the Ripple blockchain and payment platform. It isn’t intended to be used as a cryptocurrency, but the investing and cryptocurrency communities use it for trading, holding, and exchanging. However, it’s not as popular as Bitcoin (BTC) or Ethereum (ETH) in this regard. XRP’s future is currently unclear, due to the ongoing class action lawsuit filed by the SEC.
In December 2022, Ripple posted its quarterly markets report and discussed the ongoing fight with the SEC in addition to developments over the year. Much of Ripple’s future success depends on the outcome of the SEC ruling—but it remains unclear how much longer the case will continue. Ripple calls it a “…campaign of regulation by enforcement without providing clarity to the market.”
If you’re serious about trading XPR, there is a whole spectrum of options out there. To name a few popular options, you can trading XRP with leverage on top of Binance, Kraken, Delta, Poloniex, and BitMEX. Coinbase is also popular because, besides XRP, they support so many currencies.