You may have to tinker a little bit with your favorite platform to figure out the process, but once you have gone through the other steps outlined above, buying should be simple. Different trading platforms will support various payment methods according to their user’s needs. One platform may allow its users to deposit and withdraw using a particular channel, while another will not support that channel altogether. The crypto market has been in a slight downtrend over the last week, likely because of geopolitical risks and uncertainty. Over the previous seven days, BTC fell around 10%, and ETH tumbled 12%. Given the significant market dominance of these two tokens, when they fall, altcoins tend to be more sensitive to price action, leading to increased volatility.
In this guide, you will learn how to buy XRP, Ripple’s native crypto, why it matters, and how it fits into the larger Ripple ecosystem to enable seamless global payments. Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies.
Mobile Wallets
- In the traditional sense of staking, XRP staking is not possible, where users lock up their tokens to validate transactions and earn rewards.
- Securities and Exchange Commission (SEC) lawsuit claiming XRP was an unregistered security that raised $1.3 billion through an XRP token sale.
- Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues.
- You can use the search box to search for XRP or click the [Cryptocurrencies] filter just below the search box, then select XRP from the list.
- However, if you opted to transfer funds from your bank account, you may have to wait a few days for the funds to reflect on your online account.
Some platforms only offer 1 way to buy Ripple, while others provide several choices. The 2 most common ways to buy XRP are on the spot market or with an «instant buy» feature. «Top picks» are those we’ve evaluated to be best for certain product features or categories – you can read our full methodology here. If we show a «Promoted Pick», it’s been chosen from among our commercial partners based on factors that include special features or offers and the commission we receive. The last step will involve you checking the transaction details and confirming that they are correct.
Comparatively, larger and more popular cryptocurrencies like Bitcoin (7 tps) or Ethereum (30 tps) are much slower. While other legal issues remain for Ripple and XRP, that ruling led several popular crypto platforms to resume listings of the embattled cryptocurrency. We believe everyone should be able to make financial decisions with confidence. He’s researched, written about and practiced investing for nearly two decades.
How Does the XRP Ledger Work?
It is worth differentiating between XRP and Ripple because the two entities are not the same, and often people wrongly use these terms interchangeably. Ripple is the fintech company that is developing a payment settlement system called RippleNet, while XRP is a cryptocurrency native to the XRP Ledger blockchain. Ripple does make use of XRP within the RippleNet, but the cryptocurrency is not essential to the functioning of the fully depreciated asset definition company. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. After investing in a cryptocurrency like XRP, the last thing you want is to lose your tokens.
Where to Buy XRP?
We’ve listed some popular ways to buy XRP and what you should know about each payment method. To create an account with your chosen crypto platform, you only need an email address or mobile number. A spot Ethereum ETF is an ETF that tracks the price of Ethereum and is traded on traditional stock exchanges rather than cryptocurrency exchanges.
Now that you have specified the asset you want to buy and your payment method. Fill in the amount to purchase on the middlebox with the fiat currency selected or by specifying how many XRP coins you wish to buy. Even though XRP is undergoing a legal battle, it is still legal to purchase in the US and in several other jurisdictions across the world.
Peer-to-Peer (P2P) Services
XRP (XRP) was launched in 2012 by David Schwartz, Jed McCaleb and Arthur Britto. It was designed as a digital payment network to reduce the cost of international payments. Ripple (XRP) launched in 2012 with a bold mission to shake up international remittances by using cryptocurrency to help people move money around the world.
And you’ve probably heard of a few of its customers, which include Bank of America, American Express and Santander, to name a few. Most US-based crypto exchanges do not currently support XRP right now due to a lack of legal clarity regarding whether the asset should be classified as a security or not. You can still buy XRP in the United States on certain centralized crypto exchanges like Kraken or with a credit or debit card or using the swap function via an app like Atomic Wallet. The various cryptocurrency exchanges will have different processes on how to purchase XRP, and because of that, we will give you an example step-by-step guide on how to buy XRP on Uphold.
Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance.
Securities and Exchange Commission (SEC) alleged that XRP was a security and charged XRP’s parent company — Ripple — with violating securities laws. Finder’s panel expects the XRP price to trade as high as $0.90 by the end of December 2022 from the current price of $0.53. However, should XRP lose its case with the SEC the panel expects its value to drop to $0.24. Unfortunately for investors, we won’t know the outcome of the case until 2023.
When comparing offers or services, verify relevant information with the institution or provider’s site. It acts as an infrastructure layer that supports low-cost, borderless transactions and allows for transferring money and cryptocurrency. The asset is used for value transfer within the network, similar to how Bitcoins (BTC) are used within the Bitcoin network or Ether (ETH) within the Ethereum blockchain. We had also outlined a simple step-by-step process to acquire XRP from Uphold, one of the few exchanges that still allow its users to buy XRP. Most other exchanges offer a similar process to buy crypto, but the details may vary. You can tinker with your chosen platform to figure out the process or contact the official customer support for help.
However, some exchanges don’t accept all cryptocurrencies — and some cryptocurrencies can’t be traded with one another — so be aware of those limitations as you prepare to buy. Additionally, exchanges charge different fees depending on what you’re buying and how. Our partners cannot pay us to guarantee favorable reviews of their products or services. Before making your purchase, research which trading platform suits you best based on security and ease of use. Like many things in life, there are some caveats, especially if you’re purchasing XRP with another crypto.
Gianluca Miller’s crypto journey started in 2019 when he sought alternative assets to diversify his investment portfolio. With a keen interest in innovative technologies, he became increasingly involved in Web3 through trading crypto and participating in DeFi protocols. Over the last few years, he has become a blockchain evangelist, fascinated with the tech’s utility and impactability. Gianluca contributes to Benzinga, is working on a Defi research project through Blockchain UCSB, and continues to expand his Web3 acumen daily. He loves learning, analyzing new projects and market conditions, and building relationships with industry leaders. When deciding on a wallet for your cryptocurrency, it’s important to check that it will work with the XRP network, as well as the exchange you plan to use.
If you’re ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Ripple in the US. Whichever figure you provide, Uphold will automatically convert and fill in the appropriate amount in the corresponding form field. If you provide the fiat amount you wish to spend, the exchange will automatically fill in the amount of XRP coins you will get.