Now is the time to buy XRP – at the time of writing it is valued at $0.60. Given that it reached $3.81 in December 2017, the currency is seriously undervalued! Meaning an investment today could make you signfiicant returns.
Below we highlight the best platform to buy ripple with debit card or paypal.
Video Guide to Buying Ripple
Ripple is positioning itself in the crypto market and as a company to stand the test of time, it’s not going anywhere any time soon! With its current price well below $1, it looks to be a brilliant buy for future gains.
Cryptocurrencies have been around for some time now and, as such, it has become increasingly difficult for traditional institutions such as banks and brokerage firms, along with individual traders, to dismiss them as a passing fad.
Bitcoin (BTC), invented in 2009, was the first of these virtual coins to gain international attention and remains the largest, in terms of market capitalization. However, many so-called ‘altcoins’, i.e., any coin other than Bitcoin, have, in 2017, experienced the kind of exponential growth that puts even the likes of Bitcoin to shame; Ripple (XRP) is a favourite among traders and financial institutions alike but what is Ripple, how does it work, and why is it so popular?
Top Platforms to Buy Ripple (XRP)
We’re a big fan of buying Ripple through a brokerage because of the security it offers you. Below are the three (eToro and AVATRADE ) we would recommend you try, all with a step-by-step guide to show you how to buy ripple using each provider.
Positives to Using Brokers
As highlighted above, these brokers are very easy to set up account with and in turn then deposit. There are lots of reasons why these are advantageous to using more traditional exchanges when buying ripple. Below we go over the biggest pros:
- You do not have to deal with cryptocurrency wallets, long alphanumeric addresses and confusing interfaces. Especially for those that are new to investing and especially investing in cryptocurrency, the process of signing up to exchanges and keeping your addresses private can be confusing. If you do want to go down this route, we would recommend you try a broker first to get a good idea of how it works and then go to the more complex exchange platforms.
- Brokers have considerably better customer support infrastructures. They have round the clock help and support, which makes you life a lot easier. They can help you with anything from setting up an account to the process of actually buying ripple.
- They are regulated. Regulation means that you have a guarantee that even if the company becomes insolvent, your funds are covered up to £80,000. You do not get such guarantees with cryptocurrency exchanges. They must follow strict guidelines laid out by financial regulators. It also means that there are no liquidity issues, meaning you can withdraw your funds at any time. No waiting for days to withdraw your funds.
The image below highlights a few more reasons you should look to invest using CFDs.
Summary of Ripple and its Investment Potential
- Ripple is a real-time gross settlement system, currency exchange and remittance network by Ripple
- Invest in Ripple’s token, XRP, the fourth most popular cryptocurrency on the market, in terms of market capitalization
- Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments
- It’s a distributed, open-source payments system that’s still in beta
- Aims to break down the so-called ‘walled gardens’ of financial networks such as credit cards, banks, PayPal and others which restrict fluidity with fees, charges for currency exchanges, and processing delays
- The goal of Ripple, it says, is to build on the decentralized digital currency approach set by Bitcoin and ‘do for money what the internet did for all other forms of information’
- Ripple is the name for both the digital currency (XRP tokens) and an open payment network within which that currency is transferred
- Mantra: ‘One frictionless experience to send money globally’
Ripple is a real-time gross settlement system, currency exchange and remittance network which provides a reliable, on-demand option to source liquidity for cross-border payments. It’s a distributed, open-source payments system, which currently sits third in the market cap table at time of writing, however do make sure to check what it is today – coinmarketcap.com. There are 100 billion XRPs in existence with roughly half in circulation and the other half retained by Ripple themselves. The image below shows the growth ripple had in 2017!
Ripple is the name given to both the digital currency (XRP tokens: the currency you receive when you buy Ripple) and the open payment network within which the currency is transferred. This guide will teach how and where to buy Ripple. Ripple’s goal is simple: ‘One frictionless experience to send money globally.’
They hope to build on the decentralized digital currency approach set by Bitcoin and ‘do for money what the internet did for all other forms of information’. Despite being perceived by many as decentralized and, as such, incompatible with the spirit of cryptocurrency, XRP has done incredibly well. Although, investors will be quick to admit that it’s one of the more volatile coins on the market.
The rewards can be sizeable for those who buy Ripple and sell at the right time and, seeing as Ripple is still in beta, it is possible that it’s true potential is yet to be realized. 2017 has been Ripple’s best year so far by a huge margin; indeed, it’s experienced an exponential increase in its market cap over the past several months, at one point growing sixty-fold in the same number of days.
However, altcoin enthusiasts and investors remain unsure as to why Ripple has experienced such a rapid surge in its market cap. Towards the end of August 2017, the price of XRP soared 70% overnight; this isn’t unusual for Ripple. For insight about cryptocurrencies in general from a former director of FX Analysis at Credit Suisse, see fxexplained.
Other methods to buying Ripple
You can also buy Ripple using exchanges, there are currently hundreds available on the market, so which one should you use? Here at BuyRipple we have tested a wide array of cryptocurrency exchanges, below we highlight the ones we feel are the easiest to use and most reliable. For more information, there are lots of comparison sites on the internet that go over in slightly more detail the pros and cons of individual exchanges.
Lots of exchanges have a similar type of process buying ripple. Below is a brief guide that you will likely find. However not all exchanges follow this procedure, some may miss steps out.
- Register – Enter your credentials
- KYC – Confirm your identity
- Deposit – Be it fiat or cryptocurrency
- Trade – Buy ripple using your fiat or cryptocurrency
Changelly is an exchange that has ties closely with those who created the mining pool and MingerGate. Its speciality is exchange crypto for crypto rather than buying with fiat currency, this means if you want to you it to buy ripple then you must first buy another cryptocurrency using fiat currency. You then need to open a ripple wallet, so once you have bought ripple, you have somewhere you can send it for storage, or more accurately, somewhere the seller of the ripple can send it.
Another positive is that you aren’t required to give your personal information, making it very anonymous and increasing security.
They have one of the most thorough FAQ sections that will answer all your queries regarding buying ripple through their exchange. Due to the popularity of Ripple and other cryptocurrencies I would recommend getting on board with Changelly sooner rather than later.
To sign is simple, click the ‘Sign Up’ button in the top right corner.
You will then be asked to enter your email address and confirm that you are in fact not a robot.
Once you have created your account, you can enable 2-step verification in your profile. The homepage then has everything you need, enter that you want to buy ripple, and decide what currency you want to make the exchange with. You will be required to already own a wallet and will need to provide this during the process.
Buy Ripple using CEX.io
CEX.io is also a leading cryptocurrency exchange that gives you the option to buy ripple on their platform. In their service they also provide wallets, meaning your ripple investment is secure. However, we always find that the nest wallets are those that can be kept off a network.
CEX.io is open to all countries, which is obviously a huge advantage if you are looking to buy whilst being abroad. They do not charge a commission on deposits and have very reasonable withdrawal fees, all of which are great reasons to try them out.
Their platform is very simple to use, both experts and novice ripple investors can manoeuvre their way around it.
To sign up, simply click the ‘Register’ button in the top right corner and follow the instructions. You will be required to verify your email address and identity. Due to high volumes of ripple investors, CEX.io have had to pause new registrants, so do not be put off and continue to try the following day, they are worth it!
CEX.io is another crypto business that has joined the CryptoUK group. This intent shows that CEX.io are committed to regulating or at least putting best practices in place when it comes to buying any cryptocurrency, and will definitely make it safer when looking to buy ripple.
Buying Ripple through Binance
Binance is a Hong Kong based cryptocurrency exchange that offers strong, reliable support for all new coins as well as the extroadinary support for the likes of Ripple. Binance is like a lot of other exchanges that require you to send either bitcoin or ethereum to your Binance wallets and then exchange for ripple.
They are becoming increasingly popular because of their support with other cryptocurrencies, this effect is snowballing and making the platofmr more secure by the day.
To sign up, you will need to create an account and fill in the usual field; username and password.
You will then be asked to complete a CAPTCHA puzzle to prove you’re not a robot. If you’re competitive then you can compare how quickly you did it with other users. Once complete you will need to verify your email. Once you’re in, you can then create a 2-step authentication to make your account more secure.