Cryptocurrencies have been around for some time now and, as such, it has become increasingly difficult for traditional institutions such as banks and brokerage firms, along with individual traders, to dismiss them as a passing fad. Bitcoin (BTC), invented in 2009, was the first of these virtual coins to gain international attention and remains the largest, in terms of market capitalization. However, many so-called ‘altcoins’, i.e., any coin other than Bitcoin, have, in 2017, experienced the kind of exponential growth that puts even the likes of Bitcoin to shame; Ripple (XRP) is a favourite among traders and financial institutions alike but what is Ripple, how does it work, and why is it so popular?
- Ripple is a real-time gross settlement system, currency exchange and remittance network by Ripple
- Invest in Ripple’s token, XRP, the fourth most popular cryptocurrency on the market, in terms of market capitalization
- Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments
- It’s a distributed, open-source payments system that’s still in beta
- Aims to break down the so-called ‘walled gardens’ of financial networks such as credit cards, banks, PayPal and others which restrict fluidity with fees, charges for currency exchanges, and processing delays
- The goal of Ripple, it says, is to build on the decentralized digital currency approach set by Bitcoin and ‘do for money what the internet did for all other forms of information’
- Ripple is the name for both the digital currency (XRP tokens) and an open payment network within which that currency is transferred
- Mantra: ‘One frictionless experience to send money globally’
Ripple is a real-time gross settlement system, currency exchange and remittance network which provides a reliable, on-demand option to source liquidity for cross-border payments. It’s a distributed, open-source payments system which, though still in beta, has a market cap just shy of $7 billion USD, at time of writing (the third highest of all the cryptocurrencies!), with each XRP token fetching approximately $0.2 USD on the market, per CoinMarketCap. There are 100 billion XRPs in existence with roughly half in circulation and the other half retained by Ripple themselves.
Ripple is the name given to both the digital currency (XRP tokens: the currency you receive when you buy Ripple) and the open payment network within which the currency is transferred. This guide will teach how and where to buy Ripple. Ripple’s goal is simple: ‘One frictionless experience to send money globally.’ They hope to build on the decentralized digital currency approach set by Bitcoin and ‘do for money what the internet did for all other forms of information’. Despite being perceived by many as decentralized and, as such, incompatible with the spirit of cryptocurrency, XRP has done incredibly well. Although, investors will be quick to admit that it’s one of the more volatile coins on the market.
The rewards can be sizeable for those who buy Ripple and sell at the right time and, seeing as Ripple is still in beta, it is possible that it’s true potential is yet to be realized. 2017 has been Ripple’s best year so far by a huge margin; indeed, it’s experienced an exponential increase in its market cap over the past several months, at one point growing sixty-fold in the same number of days. However, altcoin enthusiasts and investors remain unsure as to why Ripple has experienced such a rapid surge in its market cap. Towards the end of August 2017, the price of XRP soared 70% overnight; this isn’t unusual for Ripple.
Top Platforms to Buy Ripple (XRP)
You can buy Ripple on a variety of platforms. Let’s have a look at some of the top brokers wherein you can buy Ripple and reap the rewards of being a savvy cryptocurrency trader without the tedium of having to mess about with digital wallets and long alphanumeric addresses and confusing interfaces. Brokerage firms offer around the clock help and support and, as such, are a fantastic option for traders who wish to enter the wonderful world of cryptocurrencies. Regulated brokers are great because, much like with a bank, you have a real account in your name, which is monitored by the latest security encryption methods.
Regulated brands are monitored by the local financial conduct authority; this means you can be sure that the broker you choose is adhering to local rules and regulations, and that you’ll always be protected because regulations require that brokers always have enough liquidity to provide you with your funds whenever you need them. So, no waiting hours for transactions to be processed on the blockchain and no hanging around while your cryptocurrencies get converted back into FIAT money (not to mention the fees of doing so!) which is a long and arduous process.
So, let’s have a look at some of the top cryptocurrency brokerage firms around today wherein you can buy Ripple. This article will guide you, step-by-step, through the process of how to buy Ripple on multiple platforms. We’re going to examine how to buy XRP tokens on Think Markets, AVATRADE and eToro.
Think Markets provides its clients opportunities to trade various different asset classes, from OTC stock to Forex and cryptocurrencies. Originally established as an automated trading company, they soon found that humans often made the better traders and now operate under the license of ASIC. They’re a great option when looking to buy ripple with paypal, not a lotbrokers offer this option at the moment.
Given the huge growth the cryptocurrency world has seen in 2017, it is no wonder why brokers, such as think Markets, are getting involved in this extremely exciting asset class. With Think Markets quick execution service and tight spreads, it has been an easy migration over to the crypto world for this brokerage house.
They are suitable for beginner and experts, offering micro lots for those who are new to the trading world and regular lot sizes who are here to earn some serious profits.
They offer 5 different trading accounts to buy ripple through and allow you access to a variety of the top trading platforms, including MT4, ZuluTrade, MirrorTrade (for those looking for algo trading), as well as their own cTrader platform. They have arguably some of the best education tools available as well, which attracts beginners no end. Buying Ripple as a CFD is becoming a very popular method for those looking to invest in Ripple.
As we highlighted they now offer the exciting asset class of cryptocurrencies. You can now trade the following on Think Markets trading platform:
- Bitcoin BTC
- Ethereum ETH
- Ripple XRP
- Litecoin LTC
Now, let’s have a look at AVATRADE, another fine option for those who wish to buy Ripple (XRP). Again, this guide will take you, step-by-step, through the process of setting up an account and teach you how to buy Ripple.
“AVATRADE has been an innovative pioneer in online trading since 2006. The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders. Within a few short years, Ava has expanded enormously, with over twenty thousand registered customers globally executing more than two million trades a month. The company’s total trading volumes surpass $60 billion per month.”
AVATRADE is one of the more well-established brokerage firms so you can rely on them for security and support. They have a web chat service which is really useful for new users. AVATRADE’s support desk is multilingual, and is available 24 hours a day so you’ll never be without a helping hand. It boasts an attractive and clean-looking interface which is ideal for beginners and more experienced traders alike. Its headquarters are in Dublin, Ireland, and it was founded way back in 2006, so they must be doing something right.
Its user-oriented perspective, coupled with AVATRADE’s knowledge of the financial world (including cryptos), is unique in the field of online trading. AVATRADE offers a wide range of trading tools and assets, including forex, stocks, commodities and indices. Here, you will be able to buy Ripple (XRP).
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Ripple (XRP)
- Litecoin (LTC)
So, now that you’re familiar with the company, let’s get started and buy Ripple (XRP). First of all, follow this link above and you’ll find the AVATRADE homepage (see below):
Before you can buy Ripple, you’ll have to open an account with AVATRADE. Setting up an account with AVATRADE is a walk in the park. Simply hit ‘Open a Real Account’ and enter your details in. You can do this manually or AVATRADE gives you the option of signing up via Facebook or Google Plus to save time. See image below:
PLEASE NOTE: If anything is confusing you, the AVATRADE website features a ‘Live Chat’ with knowledgeable agents on hand who respond quickly and are keen to help with any queries you might have; they will help you buy Ripple. Alternatively, the FAQ page is well stocked and might well have the answer you’re looking for.
Once you’ve entered in your name and email or, alternatively, registered via Facebook or Google Plus, you’ll land on the below screen. Here you’ll be prompted to enter your date of birth, address, create a password and select your desired ‘Trading Platform’.
PLEASE NOTE: Fill in the ‘Do you have any Trading experience in Options or CFOs?’ as required; for the purposes of this guide, we’ve gone with ‘No’ to keep things simple and intuitive for new traders.
Now, because we want to buy Ripple (XRP), we want to select a platform which caters for cryptocurrency trading; we’d suggest a Floating Spread Account with MetaTrader 4.
You’ll then reach the above page so fill in the appropriate details for yourself. Fill in the boxes at the bottom of the page and be sure to read every single word of the ‘Terms and Conditions’ (just kidding), hit ‘Submit’ and you’re almost done.
Finally, we made it! Now, all you have to do is fund your account and you will be able to buy Ripple (XRP), trade other altcoins, and (hopefully) begin to watch the profits roll in!
Click ‘Deposit Now’ to fund your account and you’ll be met with the below page:
Once you’ve funded your account, go back to ‘My Account’ (see below) and hit ‘Web Trading’ to begin trading:
Once, you’ve clicked on ‘Web Trading’, you’ll be met with the below screen:
Once you’ve added your email and other details you’ll finally see cryptos on the left-hand side – see below:
One more thing: in order to verify your account, you’ll need to upload some identification – it’s a slight headache but good to know AVATRADE takes security seriously… See below for the screen:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Ripple (XRP)
- Litecoin (LTC)
Finally, let’s examine eToro’s interface; it’s simple, fast, and easy to use so let’s go through the verification process step-by-step so you can get an idea of how it works and how to buy Ripple (XRP).
“The world’s leading social investment network.Tap into the wisdom of the crowds to make smarter investment decisions! Social Trading is about opening the markets to everyone. At eToro we encourage people to connect with one another to discuss, trade, invest, learn and share knowledge across the network. From now on, you don’t need to be a pro to trade like one.”
eToro is a social trading and multi asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom. eToro is another fantastic choice for anyone who wants to enter the wonderful world of cryptocurrency trading. Founded in 2007 and with headquarters in London, England, eToro has established itself as an industry leader. The site is incredibly popular with traders and it’s easy to see why. Setting up an account is incredibly fast (as you’ll see below) and the interface looks and feels great. Much like IQ Option, eToro supports a wide range of coins which is great for traders, new and experienced, looking to get the most out of the wonderful world of cryptocurrencies.
The site also offers comments, information, stats, and history on all featured cryptocurrencies which is, again, great for traders who are new to trading in cryptos. Although, don’t take the user comments to heart, they are often misleading but, in some cases, will give you a vague idea of a coin’s recent behaviour, which you can verify by checking the accompanying graphs and statistics. Let’s get started and buy Ripple (XRP).
So, let’s dive in; first of all, you’ll want to visit the homepage (below) to begin setting up your own personal account:
Now, click the green ‘DISCOVER CRYPTO COPYFUND’ button and you’ll arrive at the below screen:
Here, you’ll find a brief explanation of why traders and investors are becoming increasingly aware of cryptocurrencies, along with a donut chart showing eToro’s asset allocation (see below).
“As cryptocurrencies become increasingly popular, a growing number of traders and investors consider them to be a viable investment option. And if you are one of the early adopters, then we have an investment product you should look into – The Crypto CopyFund.
“This particular CopyFund will be open for investing with a limit placed on the daily invested amount. When it reaches its limit, it will be closed for new investors and reopened the following day. However, closing your investment can be done at any time.
“Crypto CopyFund offers a diversified portfolio, focussing on cryptocurrencies with a market cap of over $1 billion (with a roundup of up to 2%) and an average daily trading volume of over $20 million throughout the month. The weight of each component within the CopyFund is decided proportionally, according to the size of its market cap, with a minimum of 5%.
“The Crypto CopyFund will be rebalanced by eToro’s investment committee on the first day of trading of each calendar month. Delisting a currency from the CopyFund will occur should it violate one of the terms mentioned above.
“Ripple (XRP): Perhaps the most widely-adopted cryptocurrency, Ripple was created by American programmer Jed McCaleb to enable financial institutions to exchange different currencies, cryptocurrencies and other forms of payment (such as frequent-flyer miles). It is in use by many well-known brands, such as Bank of America and UBS and is therefore highly liquid and is in constant demand.”
To begin setting up your account, click on the blue ‘Sign Up’ button in the bottom left corner of the screen. This will take you to the below popup screen:
As you can see, you are given the option of either signing up using your name and email address or creating an account using your Facebook or Google Plus accounts; for the purposes of this guide, we are going to sign up the old-fashioned way, so to speak. So, fill in all the dialogue boxes, click the box to accept the terms and conditions, and click on the ‘Create Account’ button to get started.
Once you’ve done all that, you’ll arrive at the below screen:
Or, alternatively, check your inbox and you’ll see the below email:
Click on ‘Start Trading’ and you’ll arrive here:
As you can see, Ripple is listed on the landing page; from here, you can ‘Complete your Profile’ by clicking on the blue button in the upper left-hand corner of the screen. This involves providing additional personal information to strengthen your account and increase functionality.
If you’d rather skip this step for now, you also have the option of clicking on the ‘Deposit Funds’ button in the bottom left corner of the screen, which will take you to this screen:
As you can see, you have the option to fund your account immediately via debit/credit card; here’s a list of the supported payment enablers:
Now, let’s return to the below screen so we can have a look at how to buy Ripple (XRP) on the eToro interface:
Double-click the XRP square and you’ll arrive at the below screen:
Once we’re here, you’ll see that there are three tabs, the ‘Feed’ tab, the ‘Stats’ tab, and the ‘Chart’ tab. It’s always a good idea to examine the history of a coin so we’d recommend taking a look at these to get a sense of the coin’s performance and history. Once you feel comfortable with Ripple then you can click on the blue ‘Trade’ button in the top right corner of the screen, which will take you to the below popup screen:
As you can see, eToro has a very straightforward interface; it is the quickest of the three brokers shown in this guide so, if time is of the essence, eToro may well be the one to go with. The above popup window allows you to select the amount you wish to stake on Ripple (in whatever currency you feel comfortable with), adjust the ‘STOP LOSS’, the ‘LEVERAGE’, and the ‘TAKE PROFIT’.
Obviously, before you can buy Ripple, you must first deposit the appropriate amount of FIAT money into your account via debit or credit card (as previously described). Once you’ve funded your account, you will be able to open trade positions for XRP, along with any other cryptocurrency of your choosing.
eToro offers supports:
- Bitcoin (BTC)
- Ethereum Classic (ETC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
Other methods to buying Ripple
You can also buy Ripple using exchanges, there are currently hundreds available on the market, so which one should you use? Here at BuyRipple we have tested a wide array of cryptocurrency exchanges, below we highlight the ones we feel are the easiest to use and most reliable. For more information, there are lots of comparison sites on the internet that go over in slightly more detail the pros and cons of individual exchanges.
Lots of exchanges have a similar type of process buying ripple. Below is a brief guide that you will likely find. However not all exchanges follow this procedure, some may miss steps out.
- Register – Enter your credentials
- KYC – Confirm your identity
- Deposit – Be it fiat or cryptocurrency
- Trade – Buy ripple using your fiat or cryptocurrency
Changelly is an exchange that has ties closely with those who created the mining pool and MingerGate. Its speciality is exchange crypto for crypto rather than buying with fiat currency, this means if you want to you it to buy ripple then you must first buy another cryptocurrency using fiat currency. You then need to open a ripple wallet, so once you have bought ripple, you have somewhere you can send it for storage, or more accurately, somewhere the seller of the ripple can send it.
Another positive is that you aren’t required to give your personal information, making it very anonymous and increasing security.
They have one of the most thorough FAQ sections that will answer all your queries regarding buying ripple through their exchange. Due to the popularity of Ripple and other cryptocurrencies I would recommend getting on board with Changelly sooner rather than later.
To sign is simple, click the ‘Sign Up’ button in the top right corner.
You will then be asked to enter your email address and confirm that you are in fact not a robot.
Once you have created your account, you can enable 2-step verification in your profile. The homepage then has everything you need, enter that you want to buy ripple, and decide what currency you want to make the exchange with. You will be required to already own a wallet and will need to provide this during the process.
Buy Ripple using CEX.io
CEX.io is also a leading cryptocurrency exchange that gives you the option to buy ripple on their platform. In their service they also provide wallets, meaning your ripple investment is secure. However, we always find that the nest wallets are those that can be kept off a network.
CEX.io is open to all countries, which is obviously a huge advantage if you are looking to buy whilst being abroad. They do not charge a commission on deposits and have very reasonable withdrawal fees, all of which are great reasons to try them out.
Their platform is very simple to use, both experts and novice ripple investors can manoeuvre their way around it.
To sign up, simply click the ‘Register’ button in the top right corner and follow the instructions. You will be required to verify your email address and identity. Due to high volumes of rippple investors, CEO.io have had to pause new registrants, so do not be put off and continue to try the following day, they are worth it!
Buying Ripple through Binance
Binance is a Hong Kong based cryptocurrency exchange that offers strong, reliable support for all new coins as well as the extroadinary support for the likes of Ripple. Binance is like a lot of other exchanges that require you to send either bitcoin or ethereum to your Binance wallets and then exchange for ripple.
They are becoming increasingly popular because of their support with other cryptocurrencies, this effect is snowballing and making the platofmr more secure by the day.
To sign up, you will need to create an account and fill in the usual field; username and password.
You will then be asked to complete a CAPTCHA puzzle to prove you’re not a robot. If you’re competitive then you can compare how quickly you did it with other users. Once complete you will need to verify your email. Once you’re in, you can then create a 2-step authentication to make your account more secure.
History of Ripple Infographic