Ripple recently had a huge run and has been featured on CNBC.
Unfortunately there is no easy and direct way to buy Ripple with a credit card in the USA.
No matter where you live, you will first have to buy bitcoins or Ethereum with your credit card which can then be converted to Ripple.
Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia.
BitPanda is based in Austria and is a crypto brokerage service. You can buy Ripple directly using a credit card, bank account, NETELLER or Skrill from most European countries.
You can read our BitPanda review.
Bitpanda supports direct buying of Ripple, meaning you won’t have to send your ether or bitcoin to a different exchange to exchange it for Ripple.
CoinMama allows you to buy bitcoin, litecoin or ethereum with credit card from nearly any country.
Again, if you live in the USA then you must first buy bitcoins or ether with your bank account using Coinbase or a similar service.
Coinbase is available in the United States, Canada, Europe, UK, Singapore, and Australia.
BitPanda allows Europeans to buy Ripple directly with a bank account using SEPA transfer, NETELLER or SOFORT.
Before we move onto other options:
Never store your XRP on an exchange!
Always withdrawal your XRP to an offline wallet like the Ledger Nano S or any other wallet that you control.
There is no way to directly purchase Ripple with cash. Some ATMs support Ripple, but only less than 1% of all cryptocurrency ATMs.
You can use Binance to easily exchange bitcoins for Ripple. We wrote a detailed tutorial to guide you through the whole process.
Once you get the Ethereum or BTC you can use Binance to convert the coins into Ripple.
Binance is the best place to swap your bitcoins or ether for Ripple.
Binance has the most liquidity for Ripple of any other exchange. You can also start trading within a minute of signing up.
Once you’ve made an account on Binance, login.
In the right corner hover over the “person” and then you should see your balance (0.00000000 BTC, for now):
Now you should see a list of coins. On the right, you can see “deposit” buttons for each coin. In this example we will deposit bitcoin, but the process is the same for Ethereum (ETH). Click on “Deposit” on the coin you want to send.
Now you get your bitcoin deposit address:
Now, go into your Bitcoin wallet or exchange (like Coinbase) and send bitcoins to the address displayed on Binance.
That’s it! You’ll have to wait for two bitcoin confirmations (about 20 minutes) and you can start trading.
Once the deposit has been cleared, you’ll have to find the XRP/BTC pair on the index. Make sure you’re on the “BTC Markets” tab and fine the XRP/BTC pair, as highlighted here:
Once you click on XRP/BTC, you will see charts of the price and a place to submit orders:
You submit orders like this:
The price field in the image above is where you put how much you want to pay per XRP token. If you put it below the market price, you will have to wait for the market to come down to your price.
This is where you enter the amount of XRP that you’d like to purchase. You can also hit one of the buttons, 25% for example, and that will automatically allocate 25% of your balance to purchasing XRP.
The total field will then be updated with the total cost of your trade.
For example if you put in that you want to buy 10,000 XRP for a price of 0.0001 BTC, then the total cost of the trade would be 1 BTC, plus 0.1% for fees charged by Binance.
ShapeShift is another way you can convert any coin into Ripple. One of the nice things about Shapeshift is that you don’t need an account, and Shapeshift only holds your funds for the duration of the trade.
To start, go to Shapeshift.io.
Change the slider on the right side to the coin you want to deposit for Ripple, and select Ripple as the coin you want to receive.
Here we’ve used bitcoin as an example:
Next, put in your bitcoin refund address and the Ripple address you want to receive to:
Then Shapeshift will ask you to make the deposit. Once you deposit, in this case, Bitcoin, you’ll receive your Ripple within about 10 minutes or less.
Coinbase is one of the largest exchanges in the world. It’s thought of as the ultimate way for United States cryptocurrency investors to buy. Most agree that any coin listed on Coinbase has a great chance of going up, since coins on Coinbase are the easiest coins to buy.
Youtube, for example, is filled with videos like this:
The reality is that no one has any idea when Coinbase will add XRP or if it ever will.
There have been rumors that Ripple (the company) has tried to buy its way onto exchanges like Coinbase.
The main reason the most regulated exchanges have been hesitant to list Ripple is because there are some concerns that the XRP token may be a security.
It’s unclear what will happen with Coinbase and Ripple. However, most rumors of Ripple being added to Coinbase have turned out to be false.
If you’re going to be trading Ripple, there are four solid options. These are the exchanges with the best liquidity in the XRP/BTC and XRP/USDT pairs.
|Fees||Holds Funds||Based In||Founded|
Binance has the most liquidity by far, but Bittrex and Poloniex do as well. Also, there may be some arbitrage opportunities available so it’s worth to have accounts on all three. Because Ripple has a fast block time, arbitrage opportunities can be taken advantage of very quickly. You can move XRP between exchanges in less than 30 seconds.
Once you buy Ripple, the next best thing to do would be to get it off the exchange. Many exchanges have been hacked and users with coins stored usually take a loss.
So, here are three solid Ripple wallet options to store your XRP in once you buy:
The Ledger Nano S is the only hardware wallet that supports storing XRP. If you’re investing in XRP long term, the Ledger will give you some peace of mind.
Toast Wallet is an XRP wallet for for iOS, Android and Desktop. It is fully open source. While it’s not recommended for use as long term storage, it’s a whole lot better than storing your XRP on an exchange. An exchange itself is a target itself and all exchanges are constantly being targeted by hackers. In order to get hacked holding XRP in Toast Wallet, you’d have to specifically be targeted.
There were rumors that Ripple had a partnership with Western Union. It’s unclear what’s actually happening. But in many cases the companies are testing some of Ripple’s software, but do not actually plan to use XRP the token.
The max supply of Ripple is 100,000,000,000. Ripple, the company based in San Franisco, owns 55 billion. They are locking up supply and intend to release it slowly.
There are a lot of debates over whether or not Ripple is a cryptocurrency.
32,000 blocks are missing from Ripple’s blockchain.
In the mind of people who say XRP is not a cryptocurrency, this brings up a number of issues. Someone has to have determined that these blocks would not appear. And also, this brings up immutability issues. If someone can just erase history from Ripple’s blockchain, what is the point?
Ripple also uses centralized validators that are chosen by Ripple the company.
Ripple is not an ERC20 token. Ripple has its own system of nodes. ERC20 tokens are tokens that are issued using the Ethereum blockchain.
Ripple is a private company based in San Francisco. It was started by Chris Larsen and Jed McCaleb. McCaleb later went on to leave Ripple and started Stellar.
Ripple was not an ICO.
The two coins serve different functions. Ripple is much more centralized than Bitcoin, but is somewhat faster.
There is a lot of debate. But because Ripple the company determines who can be a Ripple validator, it appears that Ripple is centralized.
For a very good overview of many of the problems with Ripple, check this video:
Robinhood only allows the buying and selling of Bitcoin (BTC) and ether (ETH). Ripple will be added in the future.
Ripple is not proof of stake.
XRP is the token. Ripple is a company. However, many people simply refer to XRP as Ripple or ripples. If someone says XRP, you can be sure they are referring to the token. If someone says Ripple, you may need to use context to determine if they are talking about the token or the company.
Ripple only recently gained popularity so in many cases it is still not supported by all exchanges. This will likely change soon as cryptocurrency goes mainstream and exchanges add support for more coins.
If you are able to buy cryptocurrency in your country, then you can buy Ripple. Most countries have easy access to cryptocurrency through purchasing on LocalBitcoins.
As we mentioned above, this is not possible. Coinbase only lets you buy 4 coins directly: Bitcoin, Litecoin, Bcash and Ethereum. We expect Coinbase to add support for Ripple soon, but for now it does not support XRP.
Ripple cannot be mined. The only way to get it is to purchase it from an exchange. Ripple has a different network structure than Bitcoin.
Buying bitcoins with bank account (or Ripple directly with bank account) and exchanging the BTC for Ripple is probably the cheapest way.
For speed, buying Ripple with credit card is best but the fees are higher.
You should store your Ripple in a secure wallet. Leaving Ripple on an exchange just puts you at risk of losing money if the exchange gets hacked. Your account could also get hacked, which is why it’s important to use 2FA.
Yes, you can. Changelly and Binance will allow you to convert your XRP to any other cryptocurrency. To get back regular currency you can exchange XRP for bitcoin and exchange the bitcoins on an exchange for dollars, euro, or any other currency.