Simple Ways to Buy Ripple XRP
Ripple XRP like all other digital currencies makes use of blockchain technology for transactions. It has grown extensively since its inception, it ranks as the third largest cryptocurrency with a market cap of over $50 billion following closely behind Bitcoin and Ethereum. However, Ripple is not available on Coinbase which is a very popular application for most cryptocurrencies. There have been indications that Coinbase will soon offer Ripple on their platform but no confirmations have been given yet. The main aim of Ripple XRP is for it to be used as a common currency for money transfer between diverse currencies. Transactions involving Ripple are significantly faster than other cryptocurrencies, this is due to the fact that it is not as active.
Ripple differs from the average cryptocurrency in a number of ways. Firstly, Ripple is accepted by a large number of banks as a means of exchange. There have been speculations that this partnership with banks might be the reason why Ripple XRP was able to weather the storm that hit major cryptocurrencies and come out on top. Several companies such as Google, Microsoft and Amazon have invested in Ripple. Ripple is not a mineable cryptocurrency, the network structure differs greatly from other cryptocurrencies. The 100 billion Ripple XRP that may be available to use on the Ripple platform already exist even though they are not all available in the market. Ripple XRP was not created to be used as a payment method like other cryptocurrencies, it was formed to make transfer of fiat money secure, easy and fast.
Purchasing Ripple XRP is a little complex, this article is however centered on the easy ways to purchase Ripple’s token popularly known as XRP. The exchanges where Ripple XRP can be purchased from is available on Ripple’s website. Outlined below are the simple ways to buy Ripple XRP.
The Two Step Process
This process is the easiest way to buy Ripple XRP despite its complexities, it involves making use of another cryptocurrency as a means of exchange. The following are the steps to take in this two-step procedure.
- Purchase a Cryptocurrency Preferably Bitcoin or Ether
You can buy these cryptocurrencies through any cryptocurrency exchange platform but the leading exchange, Coinbase is the best option as it makes the purchase of cryptocurrency relatively easy.
- Sign Up For Cryptocurrency Platform That Offers Ripple
- Move Your Cryptocurrency to the Exchange Platform
You have to first move your bitcoin or ether over to the exchange platform so you can be able to use it to purchase ripple.
- Exchange the Bitcoin or Ether for Ripple XRP
Once you have successfully purchased your bitcoin or Ether (i.e. once it has entered your digital wallet), you can then transfer the cryptocurrency to any exchange platform that offers Ripple XRP. You have to first sign up for the exchange platform, you’ll get an email verification message then you can successfully use the exchange platform. Binance is one of the exchange platforms that offers XRP and they charge the lowest fees. Other exchange platforms that offer Ripple XRP are CoinSpot, CEX.IO, Changelly, Poloniex, Bittrex, shapeshift, kraken amongst others.
- Purchase the Bitcoin or Ether Using Skrill
Europeans can comfortably make use of skrill to purchase the bitcoin or Ether which will be later used as a means of exchange for Ripple XRP. BitPanda allows users to make use of skrill to buy cryptocurrencies. This is only available to Europeans as Coinbase is only available to individuals living in the US.
- Convert the Cryptocurrency to Ripple XRP Using Platforms That Offer It
You can convert the bitcoin or ether to ripple by simply making use of an exchange platform that offers Ripple. You can make use of Binance or any other exchange platform to convert your bitcoin or Ether to Ripple XRP. Binance is the best option as they have proven to have low fees and they are relatively fast.
Buying Ripple XRP Using BitPanda
BitPanda is the biggest exchange platform in Europe which makes it the best option for investors that are outside the United States. This platform is based in Austria and you can purchase a large number of cryptocurrencies on this platform. The verification procedure just takes a few minutes and then you can comfortably purchase Ripple XRP on this platform.
Buying Ripple XRP Using Credit Card
To purchase Ripple XRP using a credit card, you have to register on Changelly website or any other platform that allows the use of credit card. Changelly offers the option for investors to buy Ripple XRP using credit and debit cards, this option has made this cryptocurrency platform to be quite popular. Purchasing Ripple XRP with a credit or debit card on Changelly is pretty easy and can be done in a matter of minutes. You must have a Ripple address wallet address to be able to receive Ripple XRP. The process of using Credit or Debit cards through Changelly is relatively easy and fast. Outlined below are the steps to take to buy Ripple XRP on Changelly using a Credit card or Debit card.
- Register On the Changelly Website
The registration on Changelly website is completely free, charges are added once a transaction is made. To register, click on the sign up button. You will need to provide basic information such as Email address, username, password and others.
- Visit the Changelly Homepage
On the homepage, you will be able to choose the currency you want to purchase. This is necessary as the aim of signing up to the website is to buy Ripple XRP. As soon as you have chosen the currency and put in the amount in USD, click on the exchange tab.
- Verify Information and Order
You will be redirected to a page where you will be required to crosscheck your order and confirm it. Information such as the speculated time when the Ripple XRP will arrive in your Ripple wallet will also be displayed on this page. If you are satisfied with all the information displayed on the page, click next.
- Enter your Ripple Digital Wallet Address
A Ripple wallet is important as that is where you will receive your Ripple coin. For this reason, it essential that you create a Ripple wallet if you do not have one. You can make use of CoinPayments network to create Ripple wallet, it is free to use and a small charge is added on every transaction. Digital wallets usually come with addresses, so enter the address and destination tag that comes with your wallet. Click next to advance to the next stage.
- Confirmation Stage
At this stage, you would be required to confirm all the information given before you make payment. Once you have checked all the information and you are satisfies, click on the “confirm and make payment” button.
- Put In Your Card Details
Click on the button called “Pay with Visa/Master Card”, then input your card details. Once you’ve put in the details, click the pay button to continue the transaction.
- Payment Confirmation Procedure
A confirmation text message will be sent to your phone number which you would be required to provide. The text will contain a 4 digit code that you would need to input on the page to confirm payment. The alternative to this confirmation procedure is making use of the webcam of your computer to video yourself holding up your passport for a minimum of 15 minutes.
- Ripple Coin Will Be Added To Your Ripple Wallet
Once you have confirmed payment either through the four-digit code or video alternative, your transaction will be dealt with and your Ripple coin will be added to your Ripple wallet within 30 minutes or less. Change is comparatively faster than other cryptocurrency platforms that accept credit cards and debit cards.
Ripple is set to bring some changes into the cryptocurrency world as it differs from the basic cryptocurrencies greatly. One of the differences between Ripple and other cryptocurrencies is their partnership with over 100 banks and some industries. The Ripple platform is centralized due to the fact that there are no miners and all the XRP are owned by Ripple as opposed to the decentralization that cryptocurrency boasts of. Despite the obvious differences between Ripple XRP and other cryptocurrencies, Ripple continues to soar and its market cap continues to increase.
Ripple XRP can be purchased through a number of exchange platforms except for Coinbase, Ripple can also be purchased through the two-step process where you have to purchase bitcoin and ether before you can purchase Ripple XRP on the platform. Ripple coin can also be purchased with Credit, debit or bank accounts by making use of platforms that accept these options. Although the purchase of Ripple XRP may prove to be a tasking feat, the various processes outlined above are the simplest ways to purchase Ripple XRP. These methods prove to be relatively easy and fast for both new and old investors alike.
We are recommending “Ripple: The Ultimate Guide to the World of Ripple XRP” to learn in depth.