What is the best platform to buy Ripple?
In the world of crypto, the Ripple coin also known as XRP, remains firmly in the top 5 alongside Bitcoin and Ethereum. Many people have invested in it and bought XRP coins themselves, but how can you do it?
In this post we’ll take a look at some of the best exchanges where you can buy Ripple and how to do it. Let’s take a look.
Currently in terms of market volume, Ripple remains the 3rd largest cryptocurrency worldwide, which is why most people have heard of it. Since the launch of XRP in 2012, the coin has grown in quickly in popularity.
Ripple as a holding company have also become known for their other products like xRapid and RippleNet.
These products aim to support international payment transfers via blockchain technology. This is why major banks such as Santander and American Express have partnered up with Ripple to try out and use the products.
The fact that large corporations have become involved with Ripple has not discouraged normal crypto investors for buying XRP. The growth of Ripple shows no sign of stopping, which is why a lot of people are still interested in purchasing it.
Well the good news is that XRP can be purchased via a number of websites and crypto exchanges. It’s also possible to store the coins securely in a range of secure Ripple wallets.
Even leading online brokers like eToro now offer the chance for traders to buy Ripple directly. Before, many brokers just offered users the opportunity trade in cryptocurrency via CFDs. Now eToro has launched their own standalone wallet you can buy and own the crypto as well.
Let’s take a look at eToro as well as some of the other most popular websites where you can buy Ripple:
Where To Buy Ripple: eToro
This year eToro launched their own standalone crypto wallet to allow member to buy and own various crypto coins. The eToro wallet is available now as a standalone app for both iOS and Android. The app is a simple design and also very user-friendly.
The best thing as well is that all crypto assets can be purchased using a credit card, including XRP! eToro currently uses Simplex, an external service provider, to oversee the credit card purchases made from the eToro wallet.
One thing to note however, is that the currencies supported by Simplex are only £ GBP and € EUR. USD are currently not offered by Simplex, but this is likely to change in the future.
Besides purchasing Ripple and other cryptocurrencies, the app also allows you to store many various coins and convert cryptos. You can also send and receive coin transfers directly in the app.
To start buying XRP on eToro via the wallet, you first must be a registered eToro member. This doesn’t mean you have to trade with them, but if you are new to the broker, you’ll have to create a free account to have access to the wallet app.
So if you’re not an existing user, simply go to the eToro trading app and register an account.
Next you will have to provide ID verification to make sure that no one is trying to fraudulently open an account on your behalf. eToro requires a proof of address (bank/utility bill) and a proof of identity (passport/driving licence) so that they can verify your account.
Once you’ve completed the verification steps, you will be able to log in to your eToro wallet using your normal eToro account details.
To keep your wallet secure, you’ll receive a unique blockchain address and private key from eToro. You will need to use your blockchain address for carrying out on-chain transactions.
Where To Buy Ripple: GateHub
GateHub is entirely setup on the Ripple formula, which means it specialises in exchanges of XRP.
This is great if you’re looking to buy Ripple without having to convert BTC to XRP first. The sign-up process is quite straightforward, firstly you need to sign-up for an account directly from the GateHub homepage.
During the sign-up you’ll need to provide an email and password for the account, when this is done you’ll receive a ‘Recovery Key‘. It’s very important that you note this key down and keep it somewhere safe where only you can access it.
Once these steps you’ll be able to enter your GateHub account or ‘wallet’. Like most professional exchanges, for security reasons you’ll be asked to verify your identity before you can deposit money or make purchases. On their website you will need to provide a proof
of identity – (passport/I.D. Card) and a proof of address- (utility bill/bank statement).
GateHub states that the validation process can take up to 5 business days. However we have seen a lot of good reviews saying that the process has been quick and completed even within minutes!
The minimum deposit amount is $50, and if you are using a different currency then that currency will be converted into USD for free.
When the deposit has been made navigate to the ‘Exchange’ page and you’ll be prompted to unlock your wallet by entering your password.
You can then select the amount of USD that you would like to exchange to XRP, and then confirm the selection. You will be able to check your balance at anytime from your wallet on the account.
Where To Buy Ripple: Binance
Binance is a leading crypto exchange, which also offers its members a very user-friendly mobile app. The app is available for iOS phones as well as Android devices.
Traditionally on Binance, you weren’t able to purchase XRP directly. Instead you had to purchase Ethereum (ETH) or Bitcoin (BTC) and then swap it for XRP.
This process sounds a lot more complicated than it actually is. However, it may have put off people from buying Ripple who are new to the Binance platform.
That’s why Binance recently teamed up with Simplex, a payment processor service. Simplex will allow users to buy cryptocurrency using a debit or credit card. The new setup will let you purchase XRP using € EUR or $ USD.
Regarding the minimum purchase amount, that is set to €50, whilst the maximum amount is $20,000.
To make the purchase, sign-up for an account. In case you are not an existing customer already, you should know that it’s completely free to create an account on Binance.
When the account is created, log in and on the Binance toolbar at the top of the page there is the ‘Funds‘ section. Click on it and from the drop-down menu select the ‘Buy with Credit Card‘ option.
In the order box that opens, enter the amount of XRP that you wish to buy. Also shown will be the fees and the final amount you’ll be charged. Binance usually applies a 3.5% transaction fee or a fixed $10, it all depends on the purchase amount.
Confirm the order and you will be redirected to the Simplex pages to complete the payment. Again as a security measure for using a credit card, Binance will ask you to complete and I.D. Verification step. Once this is done Binance will finalise your Ripple order. It normally takes from 15 to 30 minutes for the XRP to show in your Binance account.
We would always recommend though with Binance to double check the domain name is the real and valid one, as unfortunately a lot of scam websites try to mimic the exchange.
Where To Buy Ripple: Coinbase
Since February 2019, Coinbase has made it possible for people to purchase Ripple from their website. Before there had to be a few workarounds to buy XRP, now it’s possible to buy directly.
Coinbase which is based in the USA and founded back in 2012, is now one of the most renowned crypto exchanges with over 13 million users!
Users of Coinbase can now purchase, sell, send, receive and convert XRP more easily than before. Besides the website, you can also use the Coinbase mobile app to carry out any purchases. However, you will need an Android of iOS device in order to download the app.
To get started log in to your existing Coinbase account, or if you’re new to Coinbase create an account. During the setup you’ll be asked to provide your name and email details, and to use a secure password.
Like all good crypto exchanges, it’s important that they verify your identity to protect your account against fraudulent use. During the setup you’ll need to provide some photo identification such as a drivers licence or passport. This will help the Coinbase team to know that it’s really you.
Once those steps are complete you can buy XRP using a debit card or with a bank account payment. Simply follow the payment process and you will the XRP showing in your account.
The fact that you can also use the mobile app to purchase Ripple, is a bonus if you are looking to buy on the go. It’s also a good way to check your wallet balance from any location.
Best Platform to Buy Ripple Conclusion
Hopefully now that it’s so simple to buy XRP, especially with a debit/credit card, more people will know how and where to buy Ripple from. All the crypto exchanges listed in this post are respected and trusted ones too.
To conclude though, it’s important to mention that besides checking you’re on the original website, that you also consider using a secure wallet to store any bought Ripple. Especially if you own a large amount of XRP!
This is because centralized crypto exchanges such as Binance or Coinbase, even though secure, can be prone to external threats.
A decentralized wallet will offer greater protection to your coins, so it’s worth maybe using a secure wallet- like Ledger Nano s or Toast for example.
It’s very important to do your research in order to find the best wallet for you.
Lastly it must be noted that for all Ripple wallets, you will need to use 20 XRP in order to book the wallet address. This has been put in place to stop spam wallets. So in order to activate your chose wallet account you will need to transfer over 20 XRP first.
That’s why it’s crucial to find the best wallet for you that supports XRP as well as any other crypto coins you may own so you don’t have to waste money on opening multiple wallets.
Here the full guide on how to buy Ripple.
Author of this article and founder of Tradingonlineguide.com
My aim is to help you increase your trading knowledge with helpful content. I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.
In my spare time I enjoy cooking and travelling.
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