How To Buy XRP and Everything You Need To Know

In addition, the platform is regulated and licensed by CySEC in the EU, which offers traders additional security benefits. On eToro’s platform, in addition, to buy XRP Ripple, you can access crypto-related built-in managed portfolios via CopyPortfolios. XRP is a highly volatile token and should be considered a high-risk investment. how to buy xrp However, the coin has the potential to be one of the main cryptocurrencies used for international payments. In our opinion, the best XRP wallet is the eToro cryptocurrency wallet, which is available for iOS and Android devices. This wallet holds not just XRP, but more than 150 of the most popular cryptocurrencies.

The minimum amount of XRP you can buy is 60 USD or the equivalent in EUR/GBP/AUD/CAD. The prices you see on Coinmama’s website already include the company’s brokerage service fee of 5.9%. For example, https://www.tokenexus.com/ if you buy $1000 worth of XRP you’ll get only $920 worth. This means that the high exchange rate you see on CEX.io already includes the service fee within it, but no other fees will apply.

Choose a Crypto Exchange

The platform offers a simple and straightforward way to buy XRP using a wide range of payment methods, including bank transfers, debit/credit cards, and even cryptocurrencies. Certain exchanges allow you to purchase XRP with other cryptocurrencies. In this scenario, you’ll need to possess another cryptocurrency, like Bitcoin (BTC) or Ethereum (ETH), to trade for XRP. For example, if you own BTC, you can send it to an exchange that offers an XRP/BTC trading pair.

Not everyone knows how to buy XRP though and that’s why we’ve decided to write this article. XRP has comparatively low fees and settles transactions in a matter of just a few seconds, taking a lot of the hassle and waiting out of the process of sending money anywhere. Ripple’s XRP is one of the most popular cryptocurrencies on the market, with the fifth-highest market cap as of this writing. An individual XRP coin may only be worth a fraction of the price of top currencies such as Bitcoin or Ethereum, but there are a lot more of them on the market. Bank transfers and SWIFT deposits are typically cheaper than most other options, but they are also the slowest, normally taking 3-5 business days to settle. An investment strategy is essential for every investor, whether you are investing in precious metals, stocks, early-stage companies, or even crypto.

Bitcoin Cash

That all changed early in 2019 when Coinbase started letting its users buy, sell and trade Ripple. All you need to do to buy on Coinbase is create an account and then add a bank account or debit card. For simplicity’s sake, we’ll cover how to buy XRP using your credit or debit card on Binance—but the process is similar on many other exchange platforms. Despite XRP’s popular reputation within the cryptocurrency space, it’s surprising that few US-based exchanges support it thanks to its ongoing legal battle with the SEC.

The app offers an extensive range of educational resources as well as an easy to navigate dashboard that simplifies the crypto trading process. You get a variety of analysis and research tools with eToro, even though it is not designed for professional day traders. For example, you can view news and Twitter feeds about Ripple and XRP, so you should visit the Ripple page to analyze Ripple. You’ll also have access to the interactive chart and the research tab, including a market sentiment tool and statistics. UK traders and investors are subject to capital gains tax (CGT) on their profits when they sell, which need to be reported annually by self-assessment. It’s difficult to say with any certainty where the price of XRP is headed next.

Alvexo – Invest in XRP CFDs with a Regulated Broker

Then, if you sell your XRP tokens back to cash when they are worth £1,500 – your 1% commission will amount to £15. EToro, on the other hand, will only charge you the difference between the buy and sell price – otherwise known as the spread. This is because you are conducting a crypto-to-crypto transfer – so the exchange doesn’t need to collect any personal information from you – other than an email address. Then, you will need to search for XRP/BTC – before completing the exchange.

• Ripple is the fintech company that is developing a payment settlement system called RippleNet, while XRP is a cryptocurrency native to the XRP Ledger blockchain.
• Even if XRP becomes a coin primarily used by financial institutions for international payments, that would be an enormous win for Ripple investors.
• The app provides a range of features and tools to help you make informed investment decisions.
• In such a scenario, employing a dependable, precise, and user-friendly crypto tax solution like ZenLedger is essential.

These crypto platforms provide a healthy mix of low fees, ease of use, and a broad selection of crypto assets. We also selected these platforms because they make buying and selling Ripple easy. Unlike a lot of cryptocurrency projects in this industry – Ripple is behind technology that has the potential to revolutionize a major industry – cross-border payments. More specifically, the Ripple framework allows banks and large financial institutions to transfer funds in a fast and low-cost manner.

You can hold your XRP and hope for gains, use it in a purchase, or exchange it for other crypto or fiat currency. XRP is used as a settlement layer for financial institutions to make cross-border transactions faster and less expensive. Crypto exchanges like eToro and Coinbase are among some of the easiest ways to buy XRP.

• The process works much the same as using a debit card, albeit, you need to check whether additional fees apply.
• It’s difficult to say with any certainty where the price of XRP is headed next.
• This digital currency is based on blockchain technology and allows for instant, global payments to anyone around the world.
• If your funds are on a hot wallet, using a secure internet connection is better before proceeding.
• Then again, if you are a short-term player, XRP trading might also be an option of interest.
• For instance, an XRP/BTC trading pair allows you to exchange Bitcoin for XRP.

First, you will need to quickly register with the exchange provider – which should only take you 30 seconds. The final step is to create a buy order – which lets eToro know that you wish to invest in Ripple. By default, you will be placing a market order, which ensures that your investment is processed instantly. If, however, you want to buy XRP at a specific entry price, you can do this via a limit order. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.