Cryptocurrency is a kind of virtual currency that uses cryptographical functions to perform financial transactions. Any central authority doesn’t control it.
There are a variety of cryptocurrencies like Bitcoin, Litcoin, Zcash, Ripple, and much more. Ripple is both a type of currency and a platform. Ripple Labs Inc. released and founded it in 2012.
The Ripple facilitates secure, cheap, and fast transactions. This open-source platform has its currency, i.e., XRP, but allows you to create your own via Ripple net.
In this article, we are going to explain about Ripple, its history, how and where to buy it, and much more. So let’s get started.
What is Ripple?
Ripple is a virtual currency, as well as a platform. During late 2017 and early 2018, it had gained immense popularity. It has partnered up with leading financial institutions like Western Union, UBS, the SAMA, and Santander. It has its currency XRP but allows everyone to create their using Ripple Net.
What is Ripple Net?
Ripple Net is a network of primary financial institutions like banks or money services businesses that use Ripple to provide hassle-free services of money transactions. Now let’s get some knowledge about Ripple currency XRP.
It is a token that represents the transfer of money over Ripple Network. XRP acts as a mediator for both cryptocurrencies and fiat exchanges. This digital coin can easily be transferred within seconds. Also, it stops unwanted transactions over the network.
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Where To Buy Ripple (XRP) in 2020
Let’s get to know the ten best places to buy Ripple (XRP).
As of February 2018, it is one of the most popular exchanges globally. With the help of a coinbase.com platform, you can easily buy XRP. It offers three different trading pairs – XRP/USD, XRP/EUR, and XRP/BTC. This user-friendly cryptocurrency platform allows you to access digital assets through bank accounts, credit cards, and PayPal, etc.
Coinmama is purely a platform made to buy cryptocurrencies. People across 188 countries can buy one of eight coins via credit or debit card. In addition to XRP, it offers BTC, ADA, LTC, BCH, QTUM, and ETC. All you need to do is to go through a simple sign-up and verification process to purchase cryptocurrency.
3. Toast Wallet
It is an excellent alternative for Windows, iOS, Mac, and Android users for accessing XRP. This simple digital wallet ensures the security of cryptocurrencies and can be accessed anywhere. This wallet is the best for both cryptocurrencies newbies as well as experts.
Bitfinex is one of the oldest cryptocurrency exchanges and was founded in 2012. It offers a wide variety of trading pairs and allows users to purchase coins with USD, XRP, JPY, and GBP, etc. With this platform, users need not worry about liquidity due to its second-highest volume in XRP. It has quite a simple and user-friendly interface, as well.
Binance is one of the cheapest exchanges and the best to purchase or sell crypto. It offers the best in class security and support. But it doesn’t support the Fiat deposit option, which means the user already needs to have a currency like Bitcoin to make any trades. However, it is the world’s largest exchange having every currency worth knowing.
Kraken offers the top 10 to 15 trading pairs of cryptocurrencies. This high-level exchange allows users to invest new money into crypto in a seamless manner. It also has a bank deposit option for USD, JPY, EUR, and CAD. Being one of the safest and trusted ways of buying XPR, it only allows wire transfers (no PayPal or credit/debit support).
Changelly is a simple, hassle-free crypto exchange that allows users to choose from a wide range of currencies options. It is robust, secure, and provides a fiat gateway with the partnership of payment processor Simplex. You can send coins to a more extensive exchange when they are ready for trading.
Shapeshift is a secure, reliable, and quick way to buy Ripple (XPR). You can use it without any registration or KYC. As of now, it offers more than 50 cryptocurrencies, including Ripple (XPR). You need the following two things to buy Ripple on ShapeShift:
- The Ripple address to get your Ripple tokens at.
- Few bitcoins or altcoins to exchange for Ripple.
9. Huobi Pro
Huobi Pro is an international cryptocurrency exchange platform, originated in China. Based out of Singapore, it has been successfully operating for the last five years. It ranked 3rd on the CoinMarketCap’s list of exchange by volume. It offers a wide range of 244 cryptocurrency pairs. The registration process is simple, and they also have mobile apps.
Bittrex provides more than 200 crypto coins, including Ripple. All it requires is some simple registration process followed by login through your email ID. You also need to do your KYC by submitting some required documents, the phone number, and enabling two-factor authentication. Bittrex handles one of the largest BTC trading volumes out of all the exchanges.
How to Buy Ripple?
You can buy Ripple either by credit/debit card or via exchange. One of the easiest methods is to buy Ripple using USD. Follow the simple steps given below to buy Ripple using USD.
- Create an account in Bitstamp.
- Enter the required information like username and password (which is sent to your registered email).
- Login to your account with provided credentials and immediately change the password. (You can also enable two-factor authentication for better security).
- Next, verify the details by filling promoted information.
- Upload required documents and hit “submit verification request.”
- Once verified, go to your account and tap the “deposit” button.
- Go to the buy/sell section, and under instant order (simple), tap “buy XRP.”
- Enter the amount to “I want to spend.” box and choose “buy XRP.”
- XRP will be added to your Bitstamp account balance.
The steps may vary for the different exchange platform you use.