Ripple (XRP) Buy Instructions | Paypal, Credit Card & SEPA
If you have clicked on this article, you probably have two questions: How to buy Ripple and where to trade the coin. When you invest in Ripple, you either buy XRP Tokens and then trade through a CFD broker. More info's will follow:
There are two options you can choose from to make your first Ripple investment. We will reveal everything in this guide. You should be aware that you will probably need to pass ID verification for both options.
The easiest way to buy / sell Ripple
If you are based in the USA, this option is unfortunately not available to you. If you're brave enough to do so, just go to the "Another way to buy and sell" section of this article. For everyone else, the easiest way to buy and sell Ripple is through a CFD broker.
CFD stands for "contract for difference". But what exactly does that mean? With CFD brokers, you buy an XRP contract supported by the value of the XRP tokens. This means that if the XRP increases by $100, you will receive a $100 return on your investment.
If you are really confident that the ripple price will rise, CFD brokers usually give you the opportunity to take advantage of your position. A leverage (sometimes we call it leverage) of 20x means that an XRP price increase of $100 would result in a profit of $2,000. You need to be aware that this also works the other way around if the ripple price goes down. The leverage is riskier, but the gains can be massive.
Advantages of CFD Brokers
- CFD brokers, unlike crypto exchanges, are fully regulated.
- All you need to do is set up and pass an ID check for an account to buy and sell Ripple.
- With CFD brokers, you deposit using methods such as card, bank transfer and PayPal. Once your account is funded, you can invest in Ripple.
- CFD brokers usually give you the opportunity to leverage your investment - sometimes with up to 20x leverage options. You should be aware that this is much riskier if the price does not move as you expect. However, this gives you the opportunity to make much higher profits.
- Customer support is generally better than the exchange of crypto currencies. There is usually also a much wider range of contact methods if you need assistance.
- With CFD brokers, there is no worry about storing your ripple, creating wallets and ensuring its security.
Which crypto CFD broker should you choose?
The best CFD broker will depend on who you are and what your circumstances are - our top 3 crypto CFD brokers all offer something different. It's up to you to decide which is best for you and where you can buy and sell Ripple.
Key data for Plus500
- Large company - Plus500 Ltd. is listed on the main market of the London Stock Exchange.
- Established success story - Plus500 has been in business for 10 years
- Insurance - Plus500 balances are covered by the Financial Services Compensation Scheme. This means that customer balances are insured up to £85,000.
- Deposit methods - The following methods are supported with the minimum deposit amounts specified:
- Debit/credit card - Visa or MasterCard (min. £100)
- Electronic Wallets - PayPal/Skrill (min. £ 100)
- Tradable crypto currencies - Ripple, Ethereum, Bitcoin, Bitcoin Cash, IOTA & Litecoin.
- Customer support methods - 24/7 live chat and email via the online form.
Need help getting started with Plus500? Just take a look at our ultimate guide.
76.4% of retail investor accounts lose money when trading CFDs with this provider You should consider whether you can afford to take the high risk of losing your money. Plus500 UK Ltd is approved and regulated by the FCA. They have no rights to the underlying assets. Please refer to the disclosure documents available on the Plus500 website.
(76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money).
Key data about eToro
- Established success story - eToro was founded back in 2007
- Popular - With over 6 million registered users, eToro has quite a large community.
- eToro is different - eToro offers the possibility of social trading. You have the opportunity to see and follow the strategies of the trading experts. Thousands of people on eToro copy the data.
- Insurance - Credits on eToro are covered by the financial services compensation scheme. This means that customer balances are insured up to £50,000.
- Deposit Methods - Supported deposit methods and the minimum deposit limit is $200 > $500 depending on the method: UK: Credit/Debit Card (Visa, Mastercard, Diner's Club), Neteller, Skrill and Webmoney; China: China Union Pay; Germany: Giropay (Sofortüberweisung); Netherlands: Webmoney; Russia: Yandex; Worldwide: Bank Transfers
- Deposits - € 2,000 maximum deposit for unconfirmed accounts.
- Tradable crypto currencies - Ripple, Dash, Neo, Ethereum, Stellar, Bitcoin, Ethereum Classic, Bitcoin Cash & Litecoin.
- Leverage - eToro does not offer leverage for crypto trading.
- Customer support methods - eToro Friends, Facebook and email.
Need help getting started with eToro? Just take a look at our special guide.
Key data for IQ Option
- Foundation - IQ Option was founded in 2013.
- Global presence - IQ Option has an amazing global presence serving and counting 231 countries. With over 25 million registered users, you know you are in good hands with one of the largest CFD brokers in the market.
- Tradable Crypto Currencies - IQ Option has the largest selection of crypto currencies offered by any CFD broker we know. These include: Ripple, Bitcoin, Bitcoin Cash, Litecoin, Neo, Stellar, EOS, Dash, Ethereum Classic, Tron, OmiseGo, Qtum, Zcash and Bitcoin Gold. This makes IQ Option the perfect option for anyone interested in the ability to invest in a wider range of crypto currencies.
- Lowest minimum deposit requirement - IQ Option gives everyone the opportunity to participate in crypto currency trading. Its $10 minimum deposit limit is the lowest of any CFD broker.
- Deposit Methods - IQ Option supports the following deposit methods: Visa, Maestro, Mastercard, Bank Transfer, CashU, Skrill, and more.
- Customer support methods - telephone, mail and e-mail.
General Risk Warning: The financial products offered by the Company carry a high level of risk and may result in the loss of all your funds. You should never invest money that you cannot afford to lose.
You want to trade Ripple Day?
Need help with the basics of CFD trading? Don't worry, we have a guide for you. Just take a look at our article"Crypto Currencies Daytrading: Chart Analysis Guide"!
Buying and selling: Other options
We will show you how you can buy Ripple in the USA. This second way to buy XRP is also ideal for those who actually own and want to keep Ripple. It's a bit more complex than using CFD brokers, but we're confident that you can do it too. The Bitcoin-News.one team has tested many methods and we think we have found a simple process.
Our 7 steps to buying & storing XRP explained
- Create a Coinbase account.
- Convert your USD, EUR or GBP to Bitcoin or Ethereum. We recommend using Ethereum because the transaction times are faster than with Bitcoin. Are you having problems with Coinbase or confused? Have a look at our comprehensive manual: How to use Coinbase!
- Create a Binance account. Binance is a crypto currency exchange where you can exchange your Bitcoin or Ethereum for XRP.
- Once you have set up your Binance account, transfer your Bitcoin or Ethereum from your Coinbase account to your Binance account.
- Go to "Accounts" in the navigation bar if you are logged in to Coinbase.
- Click the "Send" button for the Ethereum or Bitcoin wallet you want to send from.
- Enter your Binance Wallet address as recipient address in your Coinbase account. You can find your Binance Wallet address by logging into Binance, selecting "Money" and clicking on "Deposit" in the drop-down list. Select either Bitcoin or Ethereum and you will see your Binance deposit address.
- IMPORTANT: Your wallet addresses for depositing Bitcoin and Ethereum will be different.
- Make sure that you send Bitcoin from Coinbase to a Binance Bitcoin wallet address or Ethereum from Coinbase to a Binance Ethereum wallet address.
- Enter the amount of Bitcoin or Ethereum you wish to transfer to your Binance account.
- Click on "Next / Continue" and the transaction confirmation details should appear.
Go to the Binance Exchange and select the XRP/BTC market to convert Bitcoin to Ripple or the XRP/ETH market to convert Ethereum to Ripple. Need help with Binance? Take a look at our comprehensive Binance Guide.
Get your Ripple to safety
- Once you have received your XRP on Binance, we recommend that you remove it from the exchange as soon as possible and store it securely in your personal XRP wallet. The next step is to set up your own Ripple Wallet and we recommend that you purchase a Trezor for maximum security. Alternatively, you can also create a free Altpocket Wallet.
- Once your Ripple Wallet is set up, simply send your Binance XRP to your wallet address.
How can XRP be stored in the safest way?
You should know where you can keep Ripple safe. It's no secret that crypto currencies like Ripple were targeted by hackers. With the price of XRP rising, we expect this threat to only increase. If you lose access to your Ripple wallet, or if you are hacked, you will have no one to turn to for help. Therefore we recommend that you use a hardware wallet for XRP.
What is a hardware wallet? This is a device that safely stores access to your Ripple Wallet and protects it from outside influences. If you want the highest level of security, a hardware wallet is the right option. The Trezor is the most popular hardware wallet that supports Ripple.
If you choose Trezor to keep your XRP as safe as possible, we recommend that you order directly in the Trezor. We have heard from the Reddit community that crypto was stolen by people who bought their Trezor on Ebay. How did this happen? Some Trezor sellers initialized the device and wrote down the recovery seed words. The seed words can be used to access the crypto function on the device. These seed words are intended as a recovery backup in case you lose your Trezor. In essence, some sellers have sold used Trezors as brand new and stolen coins that were deposited on the devices.
Please note that your ledger always generates your 24 recovery seed words when they are new. If this is not the case, something is wrong and we recommend that you return the device. If your ledger already has a piece of paper with the recovery seed words on it, it is a scam.
Look at a recovery sheet like this and you can be sure that your Trezor has been compromised!
What you need to buy XRP this way
- History: Coinbase was founded in 2012 and is the most popular crypto currency exchange worldwide
- Investors: Coinbase has strong investors like the venture capital company IVP, the New York Stock Exchange and other companies
- Simple: Coinbase is known and loved for its easy to use interface
- Minimum deposit: You can already invest with amounts from 6€ in crypto currencies on Coinbase
- Regulated: Coinbase is one of the few crypto currency exchanges that's regulated
- Insurance: Client funds are insured and segregated
- Deposit methods: credit/debit card, bank transfer and PayPal for US customers
- Tradable crypto currency: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic. Litecoin, 0x and more coming
Key data on Binance:
- Biggest in the world: Binance is the largest crypto exchange exchange in the world!
- Huge selection of crypto currencies: Binance offers you the opportunity to purchase over 100 different crypto currencies. Ripple is one of them.
- User-friendly: Switching from crypto to crypto is the easiest we have ever seen. We believe this was one of the main reasons for the explosive growth of Binance.
- Customer support: Binance offers e-mail multilingual support.
Do you need help with setting up a Binance account or changing from Coinbase to Binance? Just have a look at our Binance Guide.
Key data on Trezor:
- Safety: A Trezor is the safest way we know to keep your Ripple safe. If safety is a concern for you, invest in the best safety solution for your Ripple.
- Popular Hardware Wallet: Trezor is the most popular hardware wallet that supports Ripple.
- Dedicated App: The Trezor application suite has its own ripple app.
Are you too late to buy or sell Ripple?
We think that everyone who buys Ripple today can still benefit from it. The crypto currency is still in its infancy. Think of the number of people you know who actually own crypto currency. We bet that most of them have heard of Ripple and Bitcoin, but have not invested in one yet.
With regard to the introduction of crypto-currencies, we think that 15% of the population owns a crypto-currency, so we are still in the early stages of implementing the technology adoption curve. So there is potential for big gains.
You may have read through our second method of buying Ripple and wondered why it is kept so small. Crypto currencies like Ripple are too young, so the infrastructure for an "all in one" solution is not yet in place. The steps you currently have to take to buy XRP discourage most people from investing, so keep in mind how many new buyers there would be if XRP were easier to buy. Right now, most people don't even know where to buy Ripple.
Coinbase is the most commonly used method to buy crypto currencies. Every time a new crypto currency was added to Coinbase, it caused a massive price increase. This means that as soon as Ripple is added to Coinbase, a massive price increase can be expected.
What is Ripple's objective? How big is the potential?
Before you decide to invest, you should ask yourself: What does Ripple do? We will try to explain this simply.
Have you ever sent an international bank transfer, had to pay high fees and wait about 5 days for processing? If so, you have probably come to the conclusion that the current banking infrastructure is simply not good.
Ripple intends to modernise the global payment infrastructure. Ripple transactions can be processed anywhere in the world within 4 seconds. This means that the introduction of Ripple would be a real system upgrade. Every year, more than $155 trillion are processed across national borders. If Ripple achieves its goals and is accepted, it is certain that XRP investors will do very well.
Our conclusion on "Buy Ripple"
Our most important tip is to be aware of the average valuation of the dollar/euro costs. The problem with investing in crypto currency is that it is easy to get caught up in the hype. If everyone is talking about a crypto currency like Ripple, chances are that it will be overdone and the highs will not last long. As a result, many people buy in a big package and buy in the hype. When a pullback occurs, there is a strong temptation to sell quickly to minimize your loss.
How can you manage your investment so that you can record the lowest possible losses?
The average XRP valuation for the dollar cost simply splits your Ripple investment into several parts and invests a fixed amount each week or month. It is important to understand that this strategy does not guarantee that you will not lose any money. However, it does mean that you buy less XRP tokens when the price is high and more when the price is low.
This helps you avoid a situation where you buy all your XRP at high prices and then don't have enough cash to buy when prices are low. Ultimately it is your choice when to buy XRP, but the average cost of the dollar reduces the risk.