Over the past few years, Ripple (XRP), a digital currency, has seen steady growth in popularity. It was designed specifically for banks and other financial institutions, but it also has features that make it an attractive investment option for all types of buyers.
Here we’ll go over how to buy Ripple XRP coins so you can start investing in this popular cryptocurrency today!
Step 1: Sign up on an exchange that sells Ripple.
You need to sign up on an exchange that sells ripple. You will be able to use your credit card or bank account to buy bitcoin and then transfer those funds into XRP.
One thing you should know about exchanges is that some are better than others. You want an exchange with a good reputation and a history of being trustworthy. This can be hard, but it’s worth doing some research before deciding which platform is right for you.
Look at reviews of the particular exchange you’re considering signing up with, as well as its reputation among other users in the crypto community at large. If there are no reviews available on popular sites like Reddit or The Bitcoin Forum, that should give you pause—and make sure that any site you choose has been properly licensed by regulators.
Step 2: Create Your XRP Wallet.
In order to send your funds, you’ll need a wallet that supports XRP. There are many different ways to do so:
- If you’re buying on an exchange, the platform should provide a wallet for deposit or withdrawal.
- If you’d like more control over how much information is shared with exchanges and other third parties, try using an open-source software client instead of the official Ripple desktop client.
Step 3: Deposit funds into your account.
- Deposit funds into your account. If you’re new to cryptocurrency, this is likely the step that will frustrate you the most. The process of buying and selling cryptocurrencies can be difficult, but it doesn’t have to be.
- Deposit funds using a bank transfer: If you have a bank account with a major financial institution (like Chase or TD Bank), then depositing funds into an exchange is easy enough. Simply log into your account and send money directly from there. It will take one business day for the exchange to receive your deposit and make it available for trading.
- Deposit funds using a credit card: Another option is depositing USD through Visa or Mastercard debit cards issued by US banks like Capital One or Chase.
Step 4: Buy Ripple.
Now that you have created a Ripple wallet, it is time to buy some XRP coins.
You can do this in two ways: through fiat currency and through other cryptocurrencies.
Buying with fiat currency involves using your bank account or credit card to purchase the cryptocurrency from an exchange like Coinbase or Gemini.
Using this method, you must pay fees for each transaction made on the blockchain network. These transactions also take longer than using another cryptocurrency because they require verification from several parties before being approved by the blockchain network as valid purchases and sales in order for them to enter into existence on the ledger system used by these exchanges.
The advantage of buying with other cryptocurrencies such as Bitcoin or Ethereum is that they are much cheaper because there are no 3rd party intermediaries such as banks involved when making payments between parties who use different types of currencies (e.g., BTC vs USD Dollar). This means that there are fewer delays since there isn’t any waiting around while someone verifies whether or not something should be considered a valid transaction according to their terms and conditions; once both parties agree upon what should happen, then it will happen immediately within minutes.
Step 5: Withdraw your Ripple to a safe wallet.
After you’ve purchased your Ripple XRP coins, it’s just as important to keep them safe. There are many ways you can do this, and some of them include:
A hardware wallet like Ledger or Trezor. This is one of the most secure options for keeping your cryptocurrency funds safe. Because it needs physical access to your computer in order to be accessed and sent offline (if necessary), you should only use this if you intend to hold onto your cryptocurrency for a long time.
If you’re just looking at using crypto as a form of currency today, then using something like a software wallet may be more convenient since they don’t require any extra equipment beyond what’s already on their own phones/computers/tablets, etc.