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Trading Ripple

The Ripple Effect: Trading Ripple Like a Pro

The cryptocurrency buzz took the world by storm in 2017 thanks to Bitcoin’s meteoric rise. Off the back of the highs and lows of BTC, people previously uninterested in cryptocurrencies suddenly wanted to join the action. The upshot of this is that people started to discover the digital currency world doesn’t start and end with Bitcoin.

With people now aware of altcoins such as Ripple, the markets are buzzing with activity. As canny investors have sought out new investments, XRP’s value has surged. In fact, the increase in interest has got to the point where you can now trade Ripple across multiple platforms. If you take a minute to check out our top-rated Ripple exchanges, you’ll see what we mean.

However, before you rush off and start trading Ripple, there are a few things you should now. In the following sections, we’ll give you the complete lowdown on how, where and the best way to trade Ripple online. So, sit back, open your mind and let’s delve into the world of cryptocurrency trading.

Ripple Cryptocurrency

Ripple Cryptocurrency

How Can I Trade Ripple Online?

To start trading Ripple, you need two things: some funds and a broker/exchange. Depending on the Ripple exchange you choose, the way you purchase coins will be slightly different. To see what we mean by this in practice, check out our “where to buy Ripple” page and take a look through our partner sites.

Depending on the platform you choose, you’ll either purchase Ripple through a broker or an exchange. Although no two sites are exactly the same, it’s generally the case that brokers allow you to buy Ripple using a fiat (traditional) currency such as GBP or USD. In contrast, an exchange will ask you to buy Bitcoin first and then change it for Ripple (or any other cryptocurrency).

The Purchasing Process

Aside from the differences in the way you purchase Ripple, everything else works in much the same way. To show you what we mean, here’s a step-by-step breakdown of how you go from no Ripple to trading it:

  • Visit an online broker and deposit some funds/visit an exchange and buy some Bitcoin.
  • Once you have some cash in your account, find the XRP listing and hit the buy button.
  • When your account is loaded with Ripple, you have two main options: hold it or sell it.

Hold or Sell?

If you decide to hold your coins and you’re using an exchange, it’s a good idea to send them to a personal wallet. Doing this allows you to store them safely but still be able to move them around as you need to. For an overview of the best Ripple wallets, take a look at our guide.

If you decide to sell, an online brokerage will give you the option to end your trade. Inside an exchange, you’ll have to choose the “sell” option and confirm you’re happy with the sale price.

For those that want to offload their coins at a good price but don’t have the time to monitor the market, it’s possible to set automatic sell orders. Basically, you can set a price range at which you’d happily sell your coins. Once the market price falls within your range, the software will complete the trade for you.

Where Can I Find a Ripple Exchange?

Now that you know the basics of trading Ripple, the next thing you need to know is where to find the best place to do it. As we’ve said, our site is dedicated to showing you the best Ripple brokers and exchanges. To this end, all you really need to do is read through our reviews and find the one you like.

Because our experts take into account a site’s basics as well as its defining features, you’ll be able to choose one that’s right for you. For instance, if you’re interested in trading Ripple without investing in it directly, you may want to use eToro. In contrast, if you actually want to own some Ripple coins, an exchange such as Binance is perfect.

Put simply, we’ve done the hard work so you don’t have to. As long as you’re prepared to read what we’ve got to say, you’ll get acute insight into what makes a platform tick and whether it floats your boat. Once you’ve found one you like, follow the sign-up link, make a deposit and you’re on your way.

4 Easy Steps to Buy Ripple

  1. Create an eToro account – only takes 2 mins!
  2. Deposit your proposed investment quantity – Paypal accepted
  3. Buy Ripple
  4. Manage your risk – set a stop loss and take profit

etoro ripple ticket

Trading Ripple? Check the Stats First

When you know how to trade Ripple and where you’re going to do it, the most important thing you can do is monitor the market. Like all cryptocurrencies, Ripple’s price can change quite dramatically from day to day. Because of this, you don’t simply want to jump in at any old point in time.

Using our price watch tool, you can get a real-time overview of the market. What’s great about this tool is that you can toggle the settings to show the daily price as captured by the Ripple index as well as through the major exchanges such as Bitstamp, Kraken and BitTrex.

If that’s not enough, you can view the price fluctuations across the following time periods:

  • Daily
  • Weekly
  • Monthly
  • Trimonthly
  • Yearly
  • Overall

Finally, just so you know how the value relates to you and your native currency, our tracker converts the XRP price to USD, EUR, CNY and GBP. When you piece all of these features together, you get a comprehensive look at Ripple’s value in the past and present. From this, you can decide whether the current price is worth buying at. Moreover, you can use this information to predict whether your investment will increase or decrease in value. In other words, you should be constantly tracking the price data so you know when it’s time to buy and when it’s time to sell.

That, in a nutshell, is trading Ripple online. As long as you can find an exchange, purchase some credits and monitor the markets, you’ll be well on your way to trading like a pro. What’s even better is that we’re always here to help. Stick with us and join our partner sites, to make sure you’re always getting the best trading conditions possible.

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