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Where to Buy Ripple

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Buy Ripple(XRP)

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?

Summary

  • Ripple is a real-time gross settlement system, currency exchange and remittance network by Ripple
  • Ripple’s token, XRP, is the number four 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, though still in beta, has a market cap just shy of $7 billion USD, at time of writing (the third highest of all the cryptocurrencies!), with each XRP token fetching approximately $0.2 USD on the market, per CoinMarketCap. There are 100 billion XRPs in existence with roughly half in circulation and the other half retained by Ripple themselves.

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.

Top 3 Platforms to Buy Ripple (XRP)

You can buy Ripple on a variety of platforms. Let’s have a look at some of the top brokers wherein you can buy Ripple and reap the rewards of being a savvy cryptocurrency trader without the tedium of having to mess about with digital wallets and long alphanumeric addresses and confusing interfaces. Brokerage firms offer around the clock help and support and, as such, are a fantastic option for traders who wish to enter the wonderful world of cryptocurrencies. Regulated brokers are great because, much like with a bank, you have a real account in your name, which is monitored by the latest security encryption methods.

Regulated brands are monitored by the local financial conduct authority; this means you can be sure that the broker you choose is adhering to local rules and regulations, and that you’ll always be protected because regulations require that brokers always have enough liquidity to provide you with your funds whenever you need them. So, no waiting hours for transactions to be processed on the blockchain and no hanging around while your cryptocurrencies get converted back into FIAT money (not to mention the fees of doing so!) which is a long and arduous process.

So, let’s have a look at some of the top cryptocurrency brokerage firms around today wherein you can buy Ripple. This article will guide you, step-by-step, through the process of how to buy Ripple on multiple platforms. We’re going to examine how to buy XRP tokens on IQ Option, AVATRADE and eToro.

IQ Option

IQ Option says:

“Our company may not be the first binary options broker and we did not create the concept, but in 2013 with our entrance into the marketplace we set a goal for ourselves – to invent the best binary options trading solution in the world. With the last technologies and innovative ideas we’ve created a platform which gives our clients an easy, smooth and fun trading experience. We are the first in the industry who provide our clients with an absolutely free demo account, set a minimum deposit of $10 to make trading available to everyone, and increased the gain per trade up to 92%.”

Let’s begin with IQ Option. The first thing we’ll need to do to start purchasing Ripple is set up an account with IQ Option. Don’t worry, this is a quick and painless process.

Founded in 2013, IQ Option is a great European brokerage firms with lots of features and an easy-to-use interface. Setting up an account takes a little longer than with some of the other sites (e.g. eToro), but the good thing about that is you know that IQ Option takes security very seriously which is obviously never a bad thing when you’re linking debit/credit cards and bank accounts to your account.

The site requires photographic ID, along with a recent utility bill or bank statement to verify your name and address. It doesn’t take IQ Option long to approve this information and, while it’s being reviewed, you are free to trade as much as you please; the site just won’t allow you to withdraw funds until your personal information has been approved.

The trading interface itself is slick and professional looking, although may be a little overwhelming for those who haven’t encountered brokerage sites before. However, Option ID offers a great practice option (as do most sites) which allows new traders to have $10,000 worth of pretend money in order to familiarise themselves with the interface, the currencies, the graphs, the various options available, and just get a general feel for the system and the services offered by IQ Option.

This is fantastic for new users who may feel a little uncomfortable jumping straight into trading with real money. As mentioned, trading always carries some risk so it’s a good idea to understand how margin trading, leveraging, CFDs (Contracts for Difference), etc. work before rushing into real cryptocurrency trading; IQ Option caters to this.

Another thing that puts IQ Option a cut above the rest is the range of cryptocurrencies the site supports. A lot of brokerage sites only support for the bigger, more popular coins, i.e., Bitcoin (BTC), Ethereum (ETH), and Litecoin(LTC), and, if you’re lucky Ripple (XRP), but IQ Option supports many different coins which is always a bonus. Here, you can buy Ripple (XRP), along with a range of other altcoins.

IQ Option supports:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • DASH
  • Ripple (XRP)
  • Monero (XMR)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Zcash
  • Ethereum Classic (ETC)
  • Santiment (SAN)
  • IOTA (MIOTA)
  • OmiseGO (OMG)

So, let’s get started and buy Ripple. First, click on the following link to set up your account: https://eu.iqoption.com/en

You’ll be met with the below screen:

As you can see, there’s a dialogue box on the right-hand side where you can fill in your details, tick the box to accept the terms and conditions, and ‘OPEN AN ACCOUNT FOR FREE’. You can also sign in via your Facebook or Google Plus accounts if you’d rather; the choice is yours.

Once you’ve filled in the boxes, you’ll see the below loading screen:

Be patient; you’re almost there…

Once the page has loaded you’ll be given the following options:

As you can see, IQ Option provides you with $10,000 USD worth of pretend money to use in a practice account (always a good idea to have a little mess around in the practice area if this is all new to you) or, alternatively, you can hit the green ‘Fill Up Your Account’ button and jump right in. We’re going to do the latter…

Once you’ve clicked the green button, you’ll arrive at the below page which will prompt you to confirm your email address by finding the registration email from IQ Option in your inbox and following the link within:

The email looks like this:

Click on the orange ‘CONFIRM REGISTRATION’ button and you’ll arrive here:

Now you must improve your account protection by linking your phone number so type your number in the dialogue box provided and hit ‘Get a code’. You’ll receive a text message with a code. Enter the code into the box, as shown below:

Type your code in the dialogue box and hit ‘Continue’ and you’ll arrive at the below screen:

Now that you’ve confirmed your phone number, hit ‘Continue’ again and you’ll arrive here:

Fill in your details and scroll down and you’ll see the following:

Fill in all the boxes and don’t forget to tick the ‘I am a US reportable person’ box if applicable and then hit ‘Save & Continue’.

SUCCESS:

Nearly there!!! Now that your profile has been successfully filled in with personal data, you have to provide some income and trading experience information so hit ‘Continue’ to arrive here:

Fill these out as appropriate; here’s an example below – we’ve just gone with ‘Platform Testing’ for the purposes of this guide but you’ll probably want to choose more options:

Hit ‘Save & Continue’ and you’ll be redirected here and now you’re asked to answer a few questions, as shown below:

The ‘Appropriateness Assessment’ page exists to try and gauge your trading status so answer each question honestly and proceed to the next page. Almost done now!

Once you’ve filled out the ‘Appropriateness Assessment page’ (don’t worry if you make mistakes; this is just a precaution and even if the site deems you ‘at risk’, you can still continue ‘at your own risk’ – obviously, just be careful and make sure you know what you’re doing when it comes to actual trading), you’ll arrive here:

Hit ‘Continue’ and you’ll arrive at the following page:

Now we’re finally at the final stage of the verification process which is the page where you’re asked to provide identity-proving documents. The site does give you the option to ‘Attach documents later’ but we’d recommend just getting it out of the way now.

So, as you can see, you’re asked to provide photographs of your passport or identity card (front and back), along with a recent utility bill or bank statement. The site gives you the option to either upload a file or take a snapshot using your webcam there and then.

Once you’ve done this, you’ll arrive here:

Success! After the verification process is finished, a green tick will appear near your profile picture. Before the green tick appears, you can enjoy trading but cannot withdraw funds. So, let’s hit ‘TRADE NOW’ and see what’s what…

After you’ve pressed ‘TRADE NOW’, you’ll arrive at this scary looking screen:

Don’t be discouraged; just take the cursor and click on the arrow next to ‘EUR/USD’ over in the top left corner of the graph as shown below:

Now you’ll have the following options and will be able to buy Ripple:

Scroll the dropdown menu of cryptocurrencies until you find Ripple (XRP) and select it and you’ll see the following:

From here, as you can see, you’ll have the option to buy Ripple (XRP). Click ‘BUY’ and you’ll see the following:

Either hit ‘Continue Trading’ for some practice or hit ‘Fill Up Your Account’ and you’ll have the option to fund your account via credit/debit card or bank account and then you’re free to buy Ripple (XRP) to your heart’s content.

IQ Option supports:

  • IOTA (MIOTA)
  • Zcash
  • OmiseGO (OMG)
  • Bitcoin (BTC)
  • Ripple (XRP)
  • Ethereum (ETH)
  • Monero (XMR)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Dash
  • Santiment (SAN)

AVATRADE

Now, let’s have a look at AVATRADE, another fine option for those who wish to buy Ripple (XRP). Again, this guide will take you, step-by-step, through the process of setting up an account and teach you how to buy Ripple.

AVATRADE says:

“AVATRADE has been an innovative pioneer in online trading since 2006. The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders. Within a few short years, Ava has expanded enormously, with over twenty thousand registered customers globally executing more than two million trades a month. The company’s total trading volumes surpass $60 billion per month.”

AVATRADE is one of the more well-established brokerage firms so you can rely on them for security and support. They have a web chat service which is really useful for new users. AVATRADE’s support desk is multilingual, and is available 24 hours a day so you’ll never be without a helping hand. It boasts an attractive and clean-looking interface which is ideal for beginners and more experienced traders alike. Its headquarters are in Dublin, Ireland, and it was founded way back in 2006, so they must be doing something right.

Its user-oriented perspective, coupled with AVATRADE’s knowledge of the financial world (including cryptos), is unique in the field of online trading. AVATRADE offers a wide range of trading tools and assets, including forex, stocks, commodities and indices. Here, you will be able to buy Ripple (XRP).

AVATRADE supports:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Ripple (XRP)
  • DASH
  • Litecoin (LTC)

So, now that you’re familiar with the company, let’s get started and buy Ripple (XRP). First of all, follow this link above and you’ll find the AVATRADE homepage (see below):

Before you can buy Ripple, you’ll have to open an account with AVATRADE. Setting up an account with AVATRADE is a walk in the park. Simply hit ‘Open a Real Account’ and enter your details in. You can do this manually or AVATRADE gives you the option of signing up via Facebook or Google Plus to save time. See image below:

PLEASE NOTE: If anything is confusing you, the AVATRADE website features a ‘Live Chat’ with knowledgeable agents on hand who respond quickly and are keen to help with any queries you might have; they will help you buy Ripple. Alternatively, the FAQ page is well stocked and might well have the answer you’re looking for.

Once you’ve entered in your name and email or, alternatively, registered via Facebook or Google Plus, you’ll land on the below screen. Here you’ll be prompted to enter your date of birth, address, create a password and select your desired ‘Trading Platform’.

PLEASE NOTE: Fill in the ‘Do you have any Trading experience in Options or CFOs?’ as required; for the purposes of this guide, we’ve gone with ‘No’ to keep things simple and intuitive for new traders.

Now, because we want to buy Ripple (XRP), we want to select a platform which caters for cryptocurrency trading; we’d suggest a Floating Spread Account with MetaTrader 4.

You’ll then reach the above page so fill in the appropriate details for yourself. Fill in the boxes at the bottom of the page and be sure to read every single word of the ‘Terms and Conditions’ (just kidding), hit ‘Submit’ and you’re almost done.

Finally, we made it! Now, all you have to do is fund your account and you will be able to buy Ripple (XRP), trade other altcoins, and (hopefully) begin to watch the profits roll in!

Click ‘Deposit Now’ to fund your account and you’ll be met with the below page:

Once you’ve funded your account, go back to ‘My Account’ (see below) and hit ‘Web Trading’ to begin trading:

Once, you’ve clicked on ‘Web Trading’, you’ll be met with the below screen:

Once you’ve added your email and other details you’ll finally see cryptos on the left-hand side – see below:

One more thing: in order to verify your account, you’ll need to upload some identification – it’s a slight headache but good to know AVATRADE takes security seriously… See below for the screen:

AVATRADE supports:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Ripple (XRP)
  • Dash
  • Litecoin (LTC)

eToro

Finally, let’s examine eToro’s interface; it’s simple, fast, and easy to use so let’s go through the verification process step-by-step so you can get an idea of how it works and how to buy Ripple (XRP).

eToro says:

“The world’s leading social investment network.Tap into the wisdom of the crowds to make smarter investment decisions! Social Trading is about opening the markets to everyone. At eToro we encourage people to connect with one another to discuss, trade, invest, learn and share knowledge across the network. From now on, you don’t need to be a pro to trade like one.”

eToro is a social trading and multi asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom. eToro is another fantastic choice for anyone who wants to enter the wonderful world of cryptocurrency trading. Founded in 2007 and with headquarters in London, England, eToro has established itself as an industry leader. The site is incredibly popular with traders and it’s easy to see why. Setting up an account is incredibly fast (as you’ll see below) and the interface looks and feels great. Much like IQ Option, eToro supports a wide range of coins which is great for traders, new and experienced, looking to get the most out of the wonderful world of cryptocurrencies.

The site also offers comments, information, stats, and history on all featured cryptocurrencies which is, again, great for traders who are new to trading in cryptos. Although, don’t take the user comments to heart, they are often misleading but, in some cases, will give you a vague idea of a coin’s recent behaviour, which you can verify by checking the accompanying graphs and statistics. Let’s get started and buy Ripple (XRP).

So, let’s dive in; first of all, you’ll want to visit the homepage (below) to begin setting up your own personal account:

Now, click the green ‘DISCOVER CRYPTO COPYFUND’ button and you’ll arrive at the below screen:

Here, you’ll find a brief explanation of why traders and investors are becoming increasingly aware of cryptocurrencies, along with a donut chart showing eToro’s asset allocation (see below).

“As cryptocurrencies become increasingly popular, a growing number of traders and investors consider them to be a viable investment option. And if you are one of the early adopters, then we have an investment product you should look into – The Crypto CopyFund.

“This particular CopyFund will be open for investing with a limit placed on the daily invested amount. When it reaches its limit, it will be closed for new investors and reopened the following day. However, closing your investment can be done at any time.

“Crypto CopyFund offers a diversified portfolio, focussing on cryptocurrencies with a market cap of over $1 billion (with a roundup of up to 2%) and an average daily trading volume of over $20 million throughout the month. The weight of each component within the CopyFund is decided proportionally, according to the size of its market cap, with a minimum of 5%.

“The Crypto CopyFund will be rebalanced by eToro’s investment committee on the first day of trading of each calendar month. Delisting a currency from the CopyFund will occur should it violate one of the terms mentioned above.

“Ripple (XRP): Perhaps the most widely-adopted cryptocurrency, Ripple was created by American programmer Jed McCaleb to enable financial institutions to exchange different currencies, cryptocurrencies and other forms of payment (such as frequent-flyer miles). It is in use by many well-known brands, such as Bank of America and UBS and is therefore highly liquid and is in constant demand.”

To begin setting up your account, click on the blue ‘Sign Up’ button in the bottom left corner of the screen. This will take you to the below popup screen:

As you can see, you are given the option of either signing up using your name and email address or creating an account using your Facebook or Google Plus accounts; for the purposes of this guide, we are going to sign up the old-fashioned way, so to speak. So, fill in all the dialogue boxes, click the box to accept the terms and conditions, and click on the ‘Create Account’ button to get started.

Once you’ve done all that, you’ll arrive at the below screen:

Or, alternatively, check your inbox and you’ll see the below email:

Click on ‘Start Trading’ and you’ll arrive here:

As you can see, Ripple is listed on the landing page; from here, you can ‘Complete your Profile’ by clicking on the blue button in the upper left-hand corner of the screen. This involves providing additional personal information to strengthen your account and increase functionality.

If you’d rather skip this step for now, you also have the option of clicking on the ‘Deposit Funds’ button in the bottom left corner of the screen, which will take you to this screen:

As you can see, you have the option to fund your account immediately via debit/credit card; here’s a list of the supported payment enablers:

Now, let’s return to the below screen so we can have a look at how to buy Ripple (XRP) on the eToro interface:

Double-click the XRP square and you’ll arrive at the below screen:

Once we’re here, you’ll see that there are three tabs, the ‘Feed’ tab, the ‘Stats’ tab, and the ‘Chart’ tab. It’s always a good idea to examine the history of a coin so we’d recommend taking a look at these to get a sense of the coin’s performance and history. Once you feel comfortable with Ripple then you can click on the blue ‘Trade’ button in the top right corner of the screen, which will take you to the below popup screen:

As you can see, eToro has a very straightforward interface; it is the quickest of the three brokers shown in this guide so, if time is of the essence, eToro may well be the one to go with. The above popup window allows you to select the amount you wish to stake on Ripple (in whatever currency you feel comfortable with), adjust the ‘STOP LOSS’, the ‘LEVERAGE’, and the ‘TAKE PROFIT’.

Obviously, before you can buy Ripple, you must first deposit the appropriate amount of FIAT money into your account via debit or credit card (as previously described). Once you’ve funded your account, you will be able to open trade positions for XRP, along with any other cryptocurrency of your choosing.

eToro offers supports:

  • Bitcoin (BTC)
  • Dash
  • Ethereum Classic (ETC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
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