Ripple can’t be mined. To buy it is the only way to have it. The article “Chart of XRP/USD” will tell you how much XRP currently costs and how its price has changed over time.
We will give you an insight into where to buy Ripple, how to pick a service, and what to pay attention to when investing
XRP is gaining popularity owing to its advantages over other digital assets.
Ripple is a fast and large-scale system where payment processing takes less than 4 seconds and a number of transactions executed per second is about 1,500.
Meanwhile, the Bitcoin network and the Ethereum network execute 3 to 6 transactions and about 15 transaction per second respectively.
Ripple transactions cost cheaper than other crypto transactions. For example, there is almost a thousand-time difference with Bitcoin. Ripple’s current market capitalization reaches $39.3 billion, the sixth largest among coins. Besides, Ripple is also a relatively cheap cryptocurrency. Its price of around $0.82 is 53,000 times and 3,700 times lower than that of BTC and ETH respectively. Over the past 5 years, XRP/USD quotes have increased 103 times. In other words, by investing in the token, you may expand your capital. For as long as Ripple is in demand, there will be more options for buying the token. Thus, you can exchange fiat and other cryptocurrencies for XRP. Here is more info on this topic.
Crypto exchanges are the easiest and most common way to buy XRP coins. These platforms bring sellers and buyers together.
A party places an order, the system finds a counterparty and conducts the transaction.
These platforms are meant not just for investing in XRP. Thanks to their functionality, traders can also monitor quotes online, use indicators, charts, leverage, etc.
TOP 5 exchanges to buy Ripple:
You should register on the exchange to buy Ripple. As a rule, registration is quite simple and takes a few minutes.
You go to the exchange website, fill out the registration form, pass verification, deposit funds, and buy Ripple.
Important: Crypto exchanges are regulated platforms. Therefore, they require you to provide personal data and ID documents upon registration.
In addition to your full name, email, and phone number, they may ask you to provide a photo of your passport and residential address.
Verification on exchanges is commonly done in several steps. The more funds you want to trade, the more verification steps you will have to pass. This is done not to control you but to ensure the transparency of transactions. Those who buy Ripple on exchanges can enjoy the security of transactions, floating exchange rates, and an abundance of trading pairs. The key drawbacks of this option are obligatory verification, a limited list of payment systems, and commission fees. Online exchangers are another way to buy Ripple. These platforms offer an instant exchange of cryptocurrencies and usually do not require verification unless your amount of funds exceeds the set limit.
Users receive crypto after exchangers process their orders.
Still, exchangers are not the best way to buy Ripple because there is a risk of fraud, the exchange rate of coins is usually lower than the market one, and commissions are charged.
Exchangers are mainly used for buying small numbers of coins or conducting urgent one-time transactions. Unlike regular exchanges, they do not store digital assets, which are kept in user wallets.
TOP 5 exchangers for buying Ripple:
BestChange is a website that can help users to pick a suitable exchanger. They simply specify a payment system, and the service filters options.
You should never trust your funds with the first exchange you come across.
If you decide to buy Ripple, checking whether an exchange offers the necessary pair with XRP is the first thing you should do. Thus, if you want to exchange XRP for USD or EUR, you should make sure those pairs are available. You can find the list of available pairs on crypto exchange websites or the CoinMarketCap service. Next, you should look through the depositing methods. For example, IFXBIT offers deposits via Visa, MasterCard, and wire transfer, while these and other methods, including QIWI wallets, are available on EXMO. You should also pay attention to the crypto exchange’s interface. It should be user-friendly and in a language you know. Before buying Ripple, you should also check its exchange rate on different exchanges and decide on the one with the most attractive price. Here is where CoinGecko comes in handy.
Assess commissions. For example, a withdrawal commission on IFXBIT is 0.1%, 0.02% on Kraken, and 0.02 XRP on EXMO.
Types of commissions on crypto exchanges:
You should also make sure that the exchange is reliable and popular with users. In addition, compare daily trading volumes of suitable exchanges and read about other users’ experiences with those platforms.
Pay attention to the tools (stop orders, leverage) exchanges provide. Leverage allows you to buy Ripple and other digital assets with funds borrowed from the exchange. However, the risks of losing funds still remain. With stop orders, you can buy and sell Ripple at a set price. This tool is used primarily for securing your funds from losses. The User Agreement usually stipulates how you utilize the crypto exchange. You should carefully look through the document when you register on the exchange.
Like crypto exchanges, online exchangers also have their distinct features. You should remember this fact when you choose one for buying Ripple.
The service should be reliable, utilized by experienced traders and investors, and have positive reviews.
The exchanger must ensure that transactions are transparent and fast. Users always share their bad experiences online.
Choose exchangers with a favourable exchange rate of Ripple. It looks suspicious when exchange rates on various exchangers differ greatly.
Find everything you can about the exchanger. Never trust your funds with services that came along relatively recently. Test how its support service works. If there is no response or a delayed reaction, you may find it hard to solve various issues.
Because exchangers do not store assets, you will need a wallet to keep your XRP coins. Check the list of allowed wallets on the platform’s website.
Exchangers may charge fixed commissions for their services or take a percentage of a transaction. In such a case, a commission is partially included in the exchange rate.
It depends on your level of experience and goals when it comes to choosing a platform to buy Ripple.
Beginners start with exchangers. They are easier to use and register.
Exchangers are also popular with investors who prefer to store Ripple coins longer. They invest in tokens and keep them in their wallets to yield profits later.
These services are suitable for people who do not intend to invest heavily in Ripple.
Exchangers do not offer as many trading pairs as exchanges do. In other words, you may not find particular assets there. Crypto exchanges are safer. Reliable platforms with good reputation always ensure the transparency and validity of transactions. Besides, you can store your XRP coins on the exchange. Once you decide to sell or exchange tokens, you will be able to do it instantly with the help of an exchange wallet. That is why crypto exchanges are commonly used by traders who profit from exchange rates. They are also popular with investors with large funds. No matter what platform you choose, you should always follow certain rules of investing, especially if you are a beginner.
All in all, crypto exchanges and online exchangers are the most popular ways to buy Ripple coins.
Apart from that, you can buy tokens from the seller directly, using online banking and a wallet. However, this is the riskiest option, which does not guarantee the safety of your assets.
You should only trust time-tested platforms. This way, you won’t get disappointed or lose funds.
Other articles on the topic: “Ripple: daily outlook” “How to buy Ripple on exchanges” “How to create a free Ripple wallet on your PC”