If you are still a beginner in the cryptocurrency system and think there is the only bitcoin that rules the crypto world, we will now tell you about another popular cryptocurrency that is taking shape right now. Issued by Ripple’s business group, the currency itself is also called Ripple; XRP is another name for it. Today, we will explore this cryptocurrency, outline some details about its creators, and review some ways to get the coins.
We will start the quick guide explaining how to purchase XRP online, then tell you what Ripple is and what steps you need to accomplish to get it. Lastly, we will summarize and define whether XRP is a smart investment tool or not.
Quick Guide to Buy Ripple
If you already know what Ripple (XRP) is but still seek a hint about purchasing this crypto, here are four methods you can use to reach your target:
- Purchase the coins using your bank cards (credit or debit card)
- Register an account and obtain the Ripple (or XRP) wallet address
- Visit the cryptocurrency exchange service using the following link
- Establish a special digital wallet for your Ripple coins, like the Edge wallet or Ledger Nano S.
We should warn you that for their own protection, Ripple has set a deposit for every new user, which equals 20 XRP. You cannot use it after you have finalized your deal. The reason for setting the deposit is because the company wants to avoid fraud and eliminate fake users from the system at the very beginning.
In case you are still unsure about XRP and don’t understand whether it is a good idea to buy Ripple (XRP) or not, we will now explain in detail all you need to know about this cryptocurrency so you can make your own decision easily.
Ripple (or XRP): the Basics about this Cryptocurrency
Ripple is a platform developed by Ripple Labs company in the early 2010s, and the XRP cryptocurrency appeared on the crypto market in 2017. So, it is rather new compared to Bitcoin that started its path in 2009. The business pursues a certain goal: it wants to ensure that banks and other financial institutions can transfer money around the world as fast as possible and use the internet to do it.
The protocol offered by Ripple company is named RTXP and has two kinds of crypto. One is XRP which we have already mentioned; another is IOU which is an acronym for “I Owe You,” which means that this is a debt. Organizations can also transfer it between each other, and IOU is not necessarily a currency. The bank transfer speed is quite impressive: averagely, it takes just a couple of seconds to complete any operation.
Ripple is included in Forbes listings that prove its credibility and fantastic performance. Moreover, plenty of banks have already integrated the platform into their activity. Axis, NBAD, Santander UK, and other financial organizations have selected Ripple as one of their partners.
It is not only the speed that attracts financial entities but also a great possibility to save money. As promised by Ripple, every institution can gain around 4 USD when using their platform. If you multiply this sum by the number of performed transactions every day, you will clearly see how profitable the system can be. And, as well as the internet, you can use it anywhere in the world!
The Ripple cryptocurrency has begun its trade process on the market with a value of 1 cent, then has moved forward and now reaches almost 2 USD. Nowadays, traders may consider it a rather stable currency among existing cryptocurrencies. Ripple company itself keeps the most of XRP, so if you buy Ripple XRP and anyhow invest in these coins, it basically means that you also invest in the entity that developed them.
If you, as an investor, have prejudices about the business itself but still enjoy using its platform, there is an alternative crypto platform called Stellar that you may try.
Last year, there was a huge scandal tied to Ripple’s top management when the US Securities and Exchange Commission (SEC) has filed a massive complaint against the company’s current and ex-representatives. After this, various cryptocurrency exchanges stopped trading XRP; for instance, the Coinbase trading platform was one of the digital resources that declined XRP.
However, as of today, the situation has improved, and it is possible to find XRP on Coinbase (if you have Bitcoin bought there), on Kraken, and almost any other crypto trading place online. Just register your profile, and you can easily become one of the online traders, buy XRP (or buy Ripple) in a few seconds, and conduct other desired transactions. Besides Coinbase or Kraken, you can use Coinmama, CEX, and another online crypto exchange service that offers XRP to improve your trading experience.
What Should I Do to Buy XRP?
If you want to buy Ripple (which is the same as buy XRP, as you already know), check out our guide below. It contains three simple actions you have to complete to obtain your first XRP effortlessly.
- Start with obtaining a wallet
You have to store your XRP somewhere, and you have two options: a software or a hardware wallet for your cryptocurrency. The difference is simple: the first type is fully digital, and you keep your coins on the internet via special software.
The second type may seem a bit more complex because it is a gadget you have to buy and store in a safe space. However, this method is much more secure, and thus you will be able to keep significant sums in a protected place. Check our brief guide about such wallets.
Also, consider checking our reviews on some wallets (soft and hard): Exodus software or Edge mobile wallets, TREZOR or Ledger hard wallets. We developed two articles about TREZOR and Ledger wallets, too, so you can find out more.
All of the wallets mentioned above are quite convenient and have a user-friendly interface. Depending upon which hard wallets you choose, you can connect them to your device by Bluetooth technology or wire. Always pay attention to such details as the way of connection to feel convenient about your crypto wallets after you buy them.
After your wallet is ready and you are all set to buy XRP for the first time, you should establish a certain address for your XRP. It should have from 25 to 35 symbols and must contain upper-case and low-case signs. Also, it has to begin with a small “r” and include not only letters but numbers as well.
- Enter cryptocurrency exchanges that suggest Ripple (or XRP)
You cannot buy XRP on an exchange that does not have any XRP coins. Before choosing the exchange, ensure that you can see XRP among other cryptocurrencies and transactions with those coins are available. Some exchanges allow you to use fiat currencies (USD, EUR, or another fiat currency); others also let you pay the demanded price using other cryptocurrencies for an exchange.
If you are not an experienced trader yet, fiat currencies will probably work for you because they are easily accessible. It is not a problem to get USD or EUR nowadays, right? Fiat currencies let you not only buy ripple with ease but trade many other cryptocurrencies with other people. If you have no idea what exchange you should turn to, we recommend checking CEX, eToro, or Binance. They let you buy products with a credit or debit card in a couple of seconds.
Of course, you are not limited to use only those three exchange platforms. Traders today are free to use where to trade among dozens of sites. However, those we have mentioned above are credible platforms that are also convenient for users. You may read our reviews on them: Binance, CEX, and eToro. Besides your debit or credit card, you can use wire transfers or another cryptocurrency to complete transactions and buy XRP (or buy Ripple) on those platforms.
It is worth mentioning that almost every trade action that includes your bank card leads to additional expenses (like fees for each transfer and some other fees). You don’t want to overpay fees, right? If you plan to stay in the world of crypto trading for a while, we strongly advise you to think about wire payments instead of card payments to buy Ripple or any other cryptocurrency. Besides, data protection is still vital, and maybe it is better to keep your card info in a safe place as well as your real money and assets and avoid any risk. Use a device instead and avoid unnecessary fees.
If you have already obtained other cryptocurrency coins on this market (like a Bitcoin) and want to use them instead of USD or EUR to buy XRP, check out or Binance or Kraken crypto exchanges. It is a convenient way to buy XRP as well, but the processing might take a bit more time compared to another way of purchase and some other services.
- Transfer the coins to your own storage
When you buy XRP or any other crypto coin, you want to ensure it is well protected, don’t you? It doesn’t matter if you obtain your coins at Kraken, Coinmama, or another digital exchange platform; you have to withdraw them and put them into a safe place. This service is available on any platform, and we strongly recommend you take care of not only your data but also your investments online. Security is a priority! So, keep your assets secure.
To Sum Up
The modern trends say that this coin might be way too interesting to major financial organizations worldwide because of its pros (like speed, opportunity to save money, and simplicity). This brings some confidence about this currency for the near future. Even so, you should always bear in mind that any virtual coins may lead you to lose your own capital, and you must be extremely careful with what you pay and where. The price might become too high at some point, and it is better to invest slowly and carefully than to put huge amounts in any virtual service or coin.
So, among many other cryptos on the market today, one to recommend is XRP. XRP is easy to order and purchase, the price is comfortable, and the well-developed payment network allows you to buy, order, and trade this virtual currency with ease. We consider it a great add-on to your assets. In a couple of clicks, choose any convenient way of payment, create an account, use your USD or a virtual coin to pay, and welcome to the delightful network of digital traders and virtual exchange customers!
Will Ripple hit $5?
While most investors and analysts overlook Ripple’s expansion capacity, the real value of the currency has all chances to get on the rise. Some call $4 an unbelievable sum; however, $5 a coin might register shortly. The next peaks can be unpredictably steep, and the value will keep at it.
Will a ripple hit $10?
The majority finds it highly unlikely, at least, for the nearest future. $5 is more universally accepted a projection towards late 2021. However, there already have been discussions over the price as high as $10000 to be reached by Ripple by 2027. We shall wait and see what happens, not entirely without the right investments.
Can I buy a ripple?
Sure enough! Mind the information from our review and follow the regulations— and it’s all done! Check the local regulations, however, in order to be best informed.
Is it good to invest in Ripple now?
The trajectory of the value’s growth for Ripple is said to have looked quite well so far into 2021, with certain insiders’ projections for the nearest future, with automatically makes Ripple a must-have investment os 2021. Read the review to remind yourself, why.