Securities and Exchange Commission (SEC) over XRP being an unregistered security, but the charges were dropped, resulting in a significant price increase for XRP (over 50%). Setting up a secure and functional XRP wallet is not only a technical requirement but also a strategic decision that impacts how users interact with the XRP Ledger. Once a reliable exchange has been selected and verified, the next critical step is to set up a secure digital wallet to store your XRP holdings. Unlike traditional financial accounts, cryptocurrency ownership is defined by control over private keys. Therefore, the wallet you choose must provide both usability and robust security features to safeguard your XRP assets. Once you’ve successfully purchased XRP, the next step is ensuring its security by storing it in a reliable wallet.

The Price of Entry is Quite Low for the XRP Coin

After purchasing XRP, it’s important to keep track of your investment. You can use portfolio tracking tools like CoinMarketCap, CoinGecko, or exchange dashboards to monitor price movements and market trends. Check the deposit fees and processing times before funding your account to avoid unexpected costs. Liquidity refers to how easily an asset can be bought or sold without significantly affecting its price.

How to Buy Ripple Currency Safely

The benefit of using a wallet if that you don’t have to share any personal information such as an email address or name. I would recommend you just use a market order on Coinbase Pro (now Coinbase Advanced) because the fees are much lower. Yes, Coinbase relisted Ripple’s XRP token on July 13,  2023, after a federal judge rejected the U.S. securities exchange commission’s lawsuit against Ripple. After sign up, you need to confirm your email and go through the process of verification so you can use the platform to buy coins. Their KYC procedure is industry standard as they require upload of official government ID. This exchange is best for investors residing in Australia, Singapore, the UK, and internationally.

Setting one up on Coinbase, for example, would involve supplying your email address and phone number, and any verification codes sent to these methods of communication. You can sign up either through a desktop browser or the Coinbase mobile app. Individuals who are setting up new accounts must verify their identity, which has varying requirements depending on where that individual resides. Perhaps most importantly, these payments are regulated and compliant with government legislation.

The process is quick and straightforward, and you can buy XRP and some of the most undervalued crypto assets with as little as $10. We will introduce you to the best places to buy XRP and walk you through the step-by-step process of investing in Ripple via one of the top altcoin exchanges. It is worth differentiating between XRP and Ripple because the two entities are not the same, and often people wrongly use these terms interchangeably.

How to buy Ripple (XRP) on eToro

Ripple has had a dotted history with US crypto exchanges and regulators. At the height of its legal battle with the SEC, virtually all the best crypto exchanges delisted the altcoin. Today, they have all relisted what is now one of the most undervalued cryptos out there. Stake crypto, earn rewards and securely manage 300+ assets—all in one trusted platform.

Alternatives to buying Ripple with Coinbase

This bureau safeguards the US financial system by working to prevent money laundering, terrorist-financing activity and other financial crimes. Some platforms only offer 1 way to buy Ripple, while bitcoin news by cointelegraph others provide several choices. The 2 most common ways to buy XRP are on the spot market or with an “instant buy” feature.

• For instance, consider a token created on a blockchain other than the XRP Ledger (XRPL) but backed by actual XRP.
• Other important resources integrated into the platform include market news, an OTC platform, and risk-management tools.
• Depending on the chosen deposit or funding method, your XRP will be credited to your account immediately or after a predetermined period.
• DeFi platforms, built on blockchain technology, empower users to access financial services without relying on traditional institutions like banks or brokerages.
• Civilization became possible only when Sumerians of the Bronze Age invented money.

Protecting Your Investment from Threats

And if you see, out of the top 5, Ripple, or the XRP, was the least talked about cryptocurrency for a very long time, because it is a cryptocurrency specifically designed for banks. Ripple has done well to achieve modest adoption of XRP, in recent years. Various banks and forward-thinking companies have run programs trialing the usage of this cryptocurrency.

You can fund your wallet by buying cryptocurrency on a CEX and transferring it over to your wallet what will happen to bitcoin in 2021 of choice. One of the disadvantages of using a CEX is that they have control over your assets as the custodian. While the security on these platforms is solid, they are not completely resistant to hacks and can freeze your assets. Crypto wallets can be software- or hardware-based, providing an extra layer of protection over your assets.

XRP has dropped over 7% in the last week, and some investors see this as an excellent opportunity to build their holdings of this token. Before investing, investors should do their research and only invest in what they can afford to lose. To purchase XRP on a DEX, you connect your cryptocurrency wallet to the platform to swap your assets.

Whether you’re on the go, looking to implement a sophisticated trading strategy, or just trying to make your first crypto purchase, we have the tools for you to take control of your crypto journey. Taryn Phaneuf is a lead writer & content strategist covering wealth management, financial planning and other investing topics at NerdWallet. Prior to joining NerdWallet, she spent more than a decade covering education, public policy and business for various news outlets.

‘Ripple’ refers to both the cryptocurrency (XRP) and the company, Ripple Labs, which built the blockchain system. Transactions with Ripple’s Blockchain technology are incredibly fast in comparison to Bitcoin. Currently it’s not possible to buy Ripple stock since the company has not yet gone public. This is a perfect opportunity for investors who are just starting out and need to familiarise themselves with the platform. Advanced traders can opt for Binance where they can get technical indicators and many other features. However, many other startups offer the prospect of developing and improving the global payment system.

• For context, the GDP of China in 2024 is projected to be $18 trillion.
• While P2P support for XRP is limited, platforms like Binance, KuCoin, Bybit, and OKX offer P2P marketplaces where XRP can be traded.
• Instead, it uses a sharding technique to split the private key into five shards.

Today, it is the fourth most valuable digital asset, with a valuation of $140 Billion, according to data from CoinMarketCap. While Ripple Ledger was expected to replace SWIFT – the global finance transfers facilitator, XRP was intended to facilitate the transfer of money between two different global currencies. It also makes it possible for you to diversify your portfolio by listing not just the how to get bitcoin cash top trending cryptos but also the best meme coins and even the popular Web3 cryptos to buy now.