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Where & How to Buy XRP in 2024 – Best Places

This guide will shed light on where to buy XRP and how to buy XRP with ease. After going through dozens of cryptocurrency exchanges, we came up with a list of the best places to buy Ripple as well as an easy strategy on how to buy it. Let’s dive in!Read more

Key Takeaways

  • Buying Ripple involves creating an account on an exchange supporting XRP, verifying your identity, depositing funds, and several other steps.
  • Popular places to buy XRP include centralized crypto exchanges like Binance and Coinbase.
  • Each method of buying XRP has pros and cons.

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Last Updated July 9, 2024 3:45 PM
Justin Murphy
Last Updated July 9, 2024 3:45 PM

How to Buy XRP – Step by Step

There are several ways to buy XRP, including peer-to-peer (P2P) platforms, cryptocurrency ATMs, cryptocurrency exchange platforms, and over-the-counter (OTC) markets. However, the easiest and the most secure way to buy XRP is to use an exchange platform supporting the coin.

guide to buying ripple

Let’s focus now on the steps how to buy XRP :

  • Create an exchange account
  • Verify your account
  • Deposit funds
  • Select the correct XRP trading pair
  • Enter the amount you want to buy
  • Confirm the purchase
  • Transfer the XRP to your wallet (recommended)

Create a Cryptocurrency Exchange Account

Register for an account on a trusted cryptocurrency exchange platform such as Binance or Coinbase. During this process, you’ll be asked to share personal details, including your full name, email address, and phone number. Opt for a robust password and complete the identity verification by adhering to the KYC (Know Your Customer) procedures.

Verify Your Account

Complete the account verification process by providing the necessary identification documents. Verifying your account on a crypto exchange involves providing personal information and documents to confirm your identity. This step is essential for security and regulatory compliance. Typically, you’ll need to submit identification documents such as a copy of the driver’s license, passport, proof of address, and similar.

Deposit Funds

Depositing funds into your account on a cryptocurrency exchange is straightforward. Most exchanges support various deposit methods, including bank transfers, credit/debit cards, and cryptocurrencies. Simply select the preferred method, follow the provided instructions, and transfer the desired funds to your exchange wallet to start trading. Making a deposit with a cryptocurrency is often the fastest method.

Find the XRP Trading Pair

The next step of how to buy Ripple involves finding the XRP trading pair on an exchange, navigating to the trading section, and searching for XRP. Exchanges typically list XRP against various fiat currencies (e.g., USD, EUR) and cryptocurrencies (e.g., BTC, ETH). Select the desired trading pair to access the XRP market to buy or sell XRP.

Choose an Amount of XRP

Enter the amount of XRP you want to buy and review the transaction details. Consider factors like investment goals, budget, and market conditions. Enter the desired quantity of XRP tokens in the order form and ensure it aligns with your trading strategy and risk tolerance.

Place Your Trade

After selecting the desired amount of XRP tokens to purchase, proceed to place an order on the exchange. Confirm the details of the transaction, including the price of XRP. Once you do this, the order will be executed, initiating the purchase process and securing the chosen amount of XRP at the specified price.

Transfer XRP to Your Wallet (Optional)

After completing the purchase of XRP on the exchange, consider transferring the acquired tokens to your wallet for enhanced security. Locate the withdrawal option on the exchange platform, input your wallet address, and confirm the transfer. This step is optional and ensures full control and ownership of your XRP holdings.

Where to Buy XRP – Best Places

best places buy ripple

To buy crypto coins such as XRP, you can use any top-level exchange since all of them offer Ripple. These platforms allow users to purchase XRP using fiat currency or other cryptocurrencies. The best place to buy XRP will vary depending on user preferences. Some popular options for where to buy XRP  include:

  • Centralized crypto exchanges: These are traditional exchanges that are managed by a central third party that creates an order book, matching buyers with sellers.
  • Decentralized exchanges (DEXs): DEXs operate without a central authority and allow users to trade directly with each other. If you’re not sure how to buy XRP in New York where some centralized exchanges might be banned, this is the way to go.
  • Crypto wallets: Wallets that support XRP transactions provide direct ownership and control over the digital asset. Some wallets have built-in exchanges that support Ripple.
  • Peer-to-Peer (P2P) Platforms: P2P platforms enable direct transactions between buyers and sellers, offering flexibility and privacy.
  • Cryptocurrency ATMs: Crypto ATMs function like regular ATMs but with the added capability of making crypto purchases.

Review of Our Top 5 XRP Exchanges

Dive straight into this selection of the best XRP exchanges.

1. Binance Exchange Review

Binance Review

 

Overview: Binance was founded in 2017 and is headquartered in Malta. It is a centralized cryptocurrency exchange known for its high trading volume and wide range of supported cryptocurrencies. Binance offers various trading options and has its own native cryptocurrency called Binance Coin

Tradable coins: Binance supports a vast number of cryptocurrencies, including XRP and over 350 other cryptocurrencies.

Fees: Binance has a tiered fee structure based on trading volume and whether users hold BNB. The fees start at 0.1% for both makers and takers and can be reduced further with BNB holdings. Binance’s fees are competitive compared to other exchanges

Pros:

  • High trading volume and liquidity.
  • Wide range of supported cryptocurrencies.
  • Competitive fee structure.

Cons:

  • Not suitable for beginners due to its advanced trading features.
  • Limited customer support options.

Jump into Binance  for more info.

2. Kraken Review

Kraken review

Overview: Kraken was founded in 2011 and is headquartered in the United States. It is a centralized cryptocurrency exchange known for its security and reliability. Kraken offers a user-friendly interface and supports various cryptocurrencies, including XRP.

Tradable coins: Kraken supports a wide range of cryptocurrencies, including XRP and other major cryptocurrencies.

Fees: Kraken has a tiered fee structure based on trading volume. The fees start at 0.16% for makers and 0.26% for takers and can be reduced with higher trading volumes. Kraken’s fees are competitive compared to other exchanges.

Pros:

  • Strong security measures.
  • User-friendly interface.
  • Supports multiple cryptocurrencies.

Cons:

  • Limited customer support options.
  • Not suitable for high-frequency trading.

Visit Kraken 

3. eToro Exchange Review

Overview: eToro was founded in 2007 and is headquartered in Cyprus. It is a regulated broker that offers a unique social trading platform. eToro allows users to trade various assets, including cryptocurrencies like XRP. It is known for its user-friendly interface and innovative features like copy trading.

Tradable coins: eToro supports a range of cryptocurrencies, including XRP and other major cryptocurrencies

Fees: eToro charges spreads on cryptocurrency trading, which vary depending on the asset. There are no additional fees for deposits or withdrawals. eToro’s fee structure is transparent and competitive compared to other brokers

Pros:

  • Social trading platform with copy trading features.
  • Multiple deposit methods.
  • User-friendly interface.

Cons:

  • Limited cryptocurrency selection compared to dedicated exchanges.
  • Limited advanced trading features.

Find out more at eToro 

4. Bitfinex Exchange Review

Bitfinex review

Overview: Bitfinex was founded in 2012 and is headquartered in Hong Kong. It is a centralized cryptocurrency exchange known for its advanced trading features and deep liquidity. Bitfinex supports a wide range of cryptocurrencies, including XRP.

Tradable coins: Bitfinex supports a vast number of cryptocurrencies, including XRP and other major cryptocurrencies

Fees: Bitfinex has a tiered fee structure based on trading volume. The fees start at 0.1% for makers and 0.2% for takers and can be reduced with higher trading volumes. Bitfinex’s fees are competitive compared to other exchanges.

Pros:

  • Advanced trading features.
  • Deep liquidity.
  • Wide range of supported cryptocurrencies.

Cons:

  • Limited customer support options.
  • Not suitable for beginners

Take a look at Bitfinex  for more information.

5. Huobi Global Exchange Review

Huobi Global review

Overview: Huobi Global was founded in 2013 and is headquartered in Singapore. It is a centralized cryptocurrency exchange known for its global presence and wide range of supported cryptocurrencies. Huobi Global offers various trading options and supports XRP trading.

Tradable coins: Huobi Global supports a vast number of cryptocurrencies, including XRP and other major cryptocurrencies.

Fees: Huobi Global has a tiered fee structure based on trading volume. The fees start at 0.2% for both makers and takers and can be reduced with higher trading volumes. Huobi Global’s fees are competitive compared to other exchanges.

Pros:

  • Global presence.
  • Wide range of supported cryptocurrencies.
  • Competitive fee structure.

Cons:

  • Limited customer support options.
  • Not suitable for beginner

Visit Huobi Global 

Disclaimer: Investing in cryptocurrencies carries significant risk. Values are highly volatile. Never invest more than you can afford to lose. This site does not provide financial advice. Act based on your own research and consult with a financial professional before making decisions. Don’t invest unless you’re prepared to lose all the money you invest.

1. Centralized Crypto Exchanges

These platforms allow users to buy, sell, and trade Ripple (XRP) along with other cryptocurrencies. Buying XRP on centralized crypto exchanges is a straightforward process accessible to anyone with an internet connection.

To get started, users create an account, verify their identity, and deposit funds into their exchange wallet. Once the funds are available, they can place buy orders for XRP. After the transaction is complete, the XRP is credited to their exchange account. Users can then choose to hold or transfer it to an external wallet for safekeeping.

2. Crypto Wallets

If exchanges supporting Ripple are not your cup of tea, then wallets supporting XRP transactions might be a better option. They provide direct ownership and control over digital assets, and buying XRP through such a wallet offers greater control and security over your digital assets. Crypto wallets come in various forms, including software, hardware, and mobile apps. Wallets that allow XRP purchases may be the best place to buy Ripple for those who don’t want to use a centralized exchange. Wallets like Trust Wallet, Ledger, and CryptoWallet.com are just a few that provide this function.

3. Peer-to-Peer (P2P) Platforms

Buying XRP through a peer-to-peer (P2P) platform involves directly trading with other individuals instead of going through a (de)centralized exchange. P2P platforms connect buyers and sellers, allowing them to negotiate terms and execute transactions securely. Users can find sellers offering XRP and agree on a price and payment method, such as bank transfer or digital payment.

P2P platforms often provide escrow services to safeguard transactions. This ensures that both parties hold up their end of the bargain before funds are released. While P2P trading offers more privacy and flexibility, users should be cautious and verify that the platform can be trusted to stay safe from scams.

4. Cryptocurrency ATMs

Buying XRP from a cryptocurrency ATM offers a convenient way to purchase the digital asset using cash or debit/credit cards. These machines function like traditional ATMs but offer cryptocurrency transactions.

Queries such as, “where can I buy XRP in the US” are often going to lead you to a nearby cryptocurrency ATM. All you need to do is verify your identity (if required) and select XRP from the available options. You can then insert cash or use a debit/credit card to make a purchase. The ATM will generate a QR code the user is going to scan with their phone, and XRP will be deposited to the user’s wallet. While convenient, users should be aware of higher fees associated with cryptocurrency ATMs compared to other methods.

5. Decentralized Exchanges (DEXs)

If you’re not happy with the above options and still wondering where to buy Ripple, you can opt for a decentralized exchange (DEX) that involves trading directly with other users without the need for intermediaries. Users retain control of their funds throughout the process, enhancing security and privacy.

To buy XRP on a DEX, users need to connect their wallet, search for XRP trading pairs, and place buy orders. Trading is automated through smart contracts. DEXs may have lower liquidity and fewer trading pairs compared to centralized exchanges. Users also need to be familiar with using their non-custodial wallets.

Alternative Ways to Buy Ripple

Apart from centralized and decentralized exchanges, wallets, peer-to-peer platforms, and ATMs, there are alternative methods when it comes to how to buy XRP. These methods offer convenience to beginners looking to invest in XRP without extensive cryptocurrency knowledge. However, users should be aware of potential fees and regulations associated with these payment methods.

PayPal

Buying XRP with PayPal provides a straightforward and user-friendly option for investors. PayPal offers a seamless interface for purchasing XRP directly from your account balance or linked debit/credit card. This method allows users to quickly access XRP without the need for complicated exchanges or wallets.

Credit/Debit Card

Buying XRP with a credit or debit card offers a convenient option for investors. Many cryptocurrency exchanges and platforms allow users to purchase XRP directly using their credit or debit cards, making it easy to get started in the world of digital currencies.

However, it’s important to be aware of potential fees associated with credit or debit card transactions, as they can vary depending on the platform and card issuer.

Why Trust Us?

In the realm of XRP information, CCN is a prominent player. Our experts have analyzed hundreds of Ripple trading platforms. Thousands of data points and hundreds of top-notch sources had to be reviewed during this meticulous process.

Our evaluation team made use of as many exchanges as they could, putting themselves in the shoes of traders to see what was available. We looked into important details, including features, costs, and security, to provide you with a high-level summary of each platform.

We think that the cryptocurrency exchanges included on this page are the greatest available.

What is XRP?

XRP is a digital currency often associated with fast transactions and international banking systems. Unlike Bitcoin, XRP operates on a centralized ledger designed to facilitate fast and low-cost cross-border transactions. It was created by Ripple Labs Inc. in 2012 as a solution to the inefficiencies of traditional banking systems.

One of the key features of XRP is its speed and scalability. Transactions with XRP can settle in a matter of seconds, making it ideal for real-time payments and remittances. Additionally, XRP transactions incur minimal fees compared to traditional banking systems, making it an attractive option for businesses and financial institutions looking to reduce costs.

Overall, XRP aims to revolutionize the way money moves globally by providing a faster, cheaper, and more efficient alternative to traditional payment systems. While it has faced regulatory scrutiny and criticism from some in the cryptocurrency community for its control over the total token supply and their management, XRP continues to gain traction as a viable solution for cross-border payments and remittances.

Difference Between Ripple, XRP Ledger, and XRP

Understanding the difference between Ripple, the XRP Ledger, and XRP itself can aid in understanding this cryptocurrency ecosystem.

First, Ripple is a technology company founded in 2012, with the goal to revolutionize cross-border payments by using blockchain technology. It offers RippleNet, a network that connects financial institutions, allowing them to make fast and secure cross-border transactions.

Second, the XRP Ledger is the blockchain powering XRP. It is a digital ledger that records all XRP transactions. Unlike traditional banking systems, the XRP Ledger relies on a network of online blockchain-like validators.

Finally, XRP, Ripple’s native cryptocurrency, is the native token of the XRP Ledger. It serves as a bridge currency, facilitating fast and affordable transactions between different parties. XRP has multiple use cases, including remittances, micropayments, and cross-border transactions.

In summary, Ripple is the technology company behind the innovation, the XRP Ledger is the blockchain that powers it, and XRP is the digital asset native to this ledger.

Safety, Reliability and Profitability of Ripple

In recent years, XRP has experienced a rollercoaster of events. It first gained attention for its innovative approach to facilitating cross-border payments, attracting partnerships with major financial institutions. However, in December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, alleging that XRP was being sold as an unregistered security. This legal battle led to a significant decline in XRP’s price and caused many exchanges to delist or suspend trading of the token.

Despite these challenges, Ripple Labs has continued to innovate and expand its network of partnerships. In addition, recent court rulings have provided some clarity on XRP’s legal status, leading to a resurgence in interest and investment. As the cryptocurrency market evolves and regulations become clearer, XRP’s future remains uncertain but promising, with many investors and enthusiasts being hopeful for its continued growth and adoption in the global financial ecosystem.

Ripple vs Bitcoin

ripple vs bitcoin

Ripple and Bitcoin are both cryptocurrencies, but they work based on different principles and serve different purposes.

Bitcoin, created in 2009 by an anonymous person or group named Satoshi Nakamoto, was the first decentralized cryptocurrency. It is based on blockchain, a distributed ledger that records all transactions across a distributed network of computers. Bitcoin is intended to be a peer-to-peer electronic cash system, allowing users to make transactions without the need for intermediaries like banks.

On the other hand, Ripple is both a digital currency (XRP) and a payment protocol developed by Ripple Labs. Unlike Bitcoin, which aims to decentralize financial transactions, Ripple’s protocol is designed to facilitate faster and cheaper cross-border payments for financial institutions. Ripple’s network, known as the RippleNet, allows financial institutions to settle transactions instantly using XRP as a bridge currency.

In terms of technology, Bitcoin’s blockchain operates on a proof-of-work consensus mechanism, where miners compete to solve complex mathematical puzzles to validate transactions and add new blocks to the blockchain. Ripple, however, uses a different consensus mechanism called the Ripple Protocol Consensus Algorithm (RPCA), which relies on a network of pre-approved validators to confirm transactions.

While Bitcoin and Ripple both offer innovative technologies, they cater to different audiences and serve different purposes. Bitcoin emphasizes decentralization and censorship resistance, while Ripple focuses on improving the efficiency and cost-effectiveness of cross-border payments for financial institutions.

Trading Ripple vs Buying Ripple vs Investing in Ripple

Here are the main differences between trading, buying, and investing in Ripple.

Trading Ripple

Trading Ripple involves buying and selling XRP tokens on various types of platforms we discussed above with the aim of profiting from short and long-term price fluctuations. Traders analyze market trends, study charts, and use various trading strategies to capitalize on price movements.

Unlike investing, which involves holding XRP for the long term based on a fundamental analysis of Ripple’s potential, trading is more speculative and requires active monitoring of the market. It can be a high-risk endeavor, as prices can be volatile and unpredictable. Traders often use tools like stop-loss orders to manage risk and protect their investments.

Overall, trading Ripple requires a good understanding of market dynamics and a disciplined approach to risk management.

Buying Ripple

Buying Ripple involves purchasing XRP tokens from cryptocurrency exchanges or other platforms to hold them for the long term. Unlike trading, which focuses on short-term price fluctuations, buying Ripple is more akin to investing.

Investors believe in the long-term potential of Ripple’s technology and its ability to revolutionize cross-border payments and financial transactions. They typically conduct a fundamental analysis of Ripple’s technology, team, partnerships, and market demand to make informed decisions about when and where to buy XRP.

Investing in Ripple

Investing in Ripple involves purchasing XRP tokens to hold them for the long term in anticipation of potential future profits. Unlike trading, which involves frequent buying and selling to capitalize on short and long-term price movements, investing in Ripple focuses on the underlying value and potential of the XRP token and Ripple’s technology.

Investors typically conduct thorough research on Ripple’s fundamentals, such as its technology, partnerships, and market adoption, to assess its long-term viability and growth prospects. Investing in Ripple requires patience and a belief in the future success of Ripple’s vision for revolutionizing cross-border payments and financial transactions. While investing carries risks, it also offers the potential for significant returns if Ripple achieves its goals and XRP adoption continues to grow.

FAQ on How & Where to Buy Ripple

Is XRP legal to buy?

Yes, XRP is legal to buy in many countries around the world, including the United States and most of Europe. However, the legal status of XRP can vary from country to country, and it’s essential to check your local regulations before buying or trading XRP.

When will the XRP lawsuit end?

The outcome of the lawsuit will depend on various factors, including legal arguments, evidence presented, and potential settlements.

Why is Ripple so cheap?

Ripple’s price (XRP) is influenced by various factors, including market demand, supply, investor sentiment, and regulatory developments. One reason for its relatively low price compared to other cryptocurrencies like Bitcoin and Ethereum is that the supply of the XRP tokens overruns the demand.

Is Ripple better than Bitcoin?

Whether Ripple is better than Bitcoin depends on individual preferences and requirements. Some may prefer Ripple’s focus on efficiency and scalability for institutional use, while others may value Bitcoin’s decentralization and censorship resistance. Ultimately, it’s essential to consider each cryptocurrency’s strengths and weaknesses based on specific needs and goals.

Is XRP a safe investment?

Whether XRP is a safe investment depends on various factors, including individual risk tolerance, investment goals, and market conditions. While XRP has shown potential for growth and adoption, it also faces regulatory uncertainties and competition within the cryptocurrency space.

Who is behind Ripple?

Ripple was co-founded by Chris Larsen and Jed McCaleb in 2012. Larsen served as the CEO until 2016, while McCaleb left the company in 2013 to create Stellar, a competing cryptocurrency platform. Currently, Brad Garlinghouse serves as the CEO of Ripple, leading the company’s efforts to revolutionize cross-border payments and financial services using blockchain technology.

how to buy xrp