Home Beginner What is Ripple cryptocurrency? Guide on how to buy it.

What is Ripple cryptocurrency? Guide on how to buy it.

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understanding ripple cryptocurrency
how to buy ripple cryptocurrency

Ripple is a payment network for digitally sending and receiving money. Ripple cryptocurrency is commonly used by investors, financial institutions and business people. Unlike the traditional systems whereby there has to be a third party while carrying out a transaction, ripple allows a quicker and cheaper way of settling financial transactions by eliminating this third parties.

Ripple was founded by Chris Larsen and Jed McCaleb in 2012 and was labeled XRP. Ripple comprises of three part: the Ripple Labs (led by CEO Brad Garlinghouse that raised almost $100 million through funding), the ripple net (the payment network), and the XRP (the settlement token of ripple network). At the time of writing this article, ripple’s market cap according to coinmarketcap.com is about $76 billion with a market price of $1.98

How to buy Ripple/ XRP

Ripple cryptocurrency can be purchased using various methods. Firstly, before buying XRP it is advisable to have a ripple XRP Coin Wallet. This is a secure digital wallet that is used to store, send, receive and monitor the transactions and balances of your digital currency,

Buy Ripple through a bank account

For you to purchase ripple in the United States, you are expected to first purchase bitcoins using Coinbase or any other similar service through a bank account. After the purchase, you can then use changelly to convert the bitcoins to ripple. Changelly is the most preferred exchange service because it has friendly rates; it is quick and very user friendly. Moreover, European residents can buy ripple through a crypto brokerage service called Bitpanda. To find a bitcoin exchange that accepts bank transfers to the rest of the world one can visit https://www.buybitcoinworldwide.com/ripple/buy/.

Buy Ripple with credit card

In USA, residents can buy bitcoins from Coinbase using their credit card then later on convert the bitcoins to Ripple using changelly. Notably, Coinbase is available in Singapore, USA, Canada, Australia, UK and Europe. Bitpanda and coinmama are other alternative sites that one can use their credit cards to buy bitcoins and later convert them to Ripple.

Buy Ripple through PayPal

Just like other methods of purchasing Ripple cryptocurrency, you cannot buy ripple directly from PayPal. You are first supposed to buy bitcoins with PayPal .After purchasing the bitcoins; you later convert them to ripple using an exchange service like changelly.

Buy Ripple with cash

It is not possible to buy ripple directly with cash. To begin with, you will buy bitcoin with cash, and then convert the bitcoins to ripple through cryptocurrency exchange service.

Buy Ripple with Bitcoin

Another easy method of acquiring ripple is by easily exchanging Bitcoin for XRP using changelly or Binance.

Buy Ripple with Ethereum

Just like Bitcoins, you can first buy Ethereum and later use Binance to exchange them for Ripple.

Buy Ripple with Skrill

In Europe, if you have a skrill account, you can buy bitcoins or Ethereum using skrill and later use an exchange service such as Binance to convert them to XRP.

Ripple is not supported by all exchanges because it gained popularity recently. This makes it impossible to buy ripple directly as noticed in the cases above. Notably, you cannot mine Ripple; you only purchase it from an exchange. In future as cryptocurrency goes mainstream, more exchanges will add support for more cryptocoins. As a result, it will be possible to buy ripple directly just like Bitcoins and Ethereum.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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