Where & How to Buy XRP in 2024: Best Places

Ripple (XRP) has been a hot topic for a while. If you are ready to invest, here’s how to buy XRP.

Start by selecting the best exchange and opening your account. You can go with centralized or decentralized platforms.

There are many alternative methods as well, such as PayPal or crypto ATMs.
Read more about the steps you need to take below.

Key Takeaways

• Users can get XRP on centralized exchanges, wallets, P2P platforms
• Alternative ways to buy XRP include PayPal and ATMs
• Legal challenges and market dynamics influence XRP’s safety and profitability
• Ripple, XRP Ledger, and XRP play a role in cross-border payments

How to Buy Ripple (XRP) Step-by-Step

Here’s a detailed guide on how to purchase Ripple (XRP) with ease:

1. Find the Platform That Fits Your Needs

Start by exploring where to buy XRP. You can choose between many centralized, decentralized, and hybrid exchanges.

Plus, there are numerous wallets and mobile apps to check out – read our Crypto.com review to get an idea of where to start.

Go with an exchange that has high liquidity. If you prefer a mobile wallet, select the one that has a great community reputation.

Explore the reviews on platforms like Trustpilot and get involved in Reddit or Telegram communities to see what other investors think about the platform in question.

Legit crypto exchanges also offer abundant educational resources. You’ll find out how to buy crypto but also read about the best crypto interest/savings accounts and how they work.

2. Sign Up or Create a Wallet

Once you’ve selected the exchange, it’s time to register. This process is usually quick and you’ll get verified within minutes. Save your passwords in a secure place and make sure to activate two-factor authentication.

If you’re using a mobile wallet, be prepared to write down your seed phrase (recovery phrase). Those randomly generated words will help you restore your wallet if you lose access to your device.

Note that some wallets may also require a password, just like exchanges do.
Some hardware wallets like Ledger also connect to a trading platform where you can trade XRP.

3. Complete Verification Process

While crypto wallets most likely won’t ask for verification, crypto exchanges require it. It’s a part of legal compliance and Anti-Money Laundering (AML) regulations and is enforced by some of the safest crypto exchanges.

The ID verification typically involves submitting identification documents to comply with Know Your Customer (KYC) regulations. You’ll need your government-issued ID, a smartphone, and proof of address.

Account verification ensures you have unlimited access to all exchange’s features. Plus, you won’t have to worry about deposit and withdrawal limitations.

4. Deposit Funds into Your Account

Navigate to the deposit section of the exchange and choose your preferred funding method, such as bank transfer or crypto. You can also buy Bitcoin and crypto with a credit or a debit card.

Follow the prompts to deposit funds into your exchange account. Deposits are usually fast, regardless of the payment method. You’ll see the money in your account almost instantly.

5. Locate the XRP Trading Pair

Search for the XRP trading pair on the exchange’s trading platform. Common trading pairs include, but are not limited to:

• XRP/USDT
• XRP/BTC
• XRP/ETH
• XRP/KRW
• XRP/USD
• XRP/EUR
• XRP/GBP
• XRP/CAD

Here, you can also explore the most common order types – market and limit orders. Or, you can go on and submit an instant buy order. This type of order executes immediately and is great for new investors.

6. Place a Buy Order

Enter the amount of XRP you want to purchase and set your desired price. Review the order details and submit your instant buy order.

Depending on the platform, this step may involve a few clicks but will be done quickly.

Remember to always double-check transactions and save buying information for tax purposes.

7. Transfer XRP to Your Wallet

Once your buy order is executed, transfer the purchased XRP from the exchange to your personal wallet for safekeeping.

Use your wallet address to initiate the transfer from the exchange’s withdrawal section.

Where to Buy XRP – Best Places

Check out our list of the best crypto exchanges where you can buy XRP below.

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.

Best Types of Platforms to Consider

The best types of platform to buy XRP include:

• Centralized crypto exchanges: offer a wide selection of trading pairs and user-friendly interfaces
• Crypto wallets: provide security and control over your XRP holdings
• Peer-to-peer (P2P) platforms: facilitate direct transactions between buyers and sellers
• Cryptocurrency ATMs: offer convenience for in-person XRP purchases

1. Centralized Crypto Exchanges

Centralized exchanges serve as the cornerstone of the cryptocurrency trading ecosystem. They offer a wide array of digital assets, including XRP, paired with various fiat and other top cryptocurrencies to buy.

CEXs are known for their liquidity, high-security measures, and user-friendly interfaces. These platforms provide robust features for traders of all levels.

For example, this Coinbase review shows why this is one of the top centralized exchanges for novice investors.

If you’re looking for robust features, our KuCoin review might help.

With advanced trading tools, order types, and responsive customer support, centralized exchanges remain the preferred choice.

2. Crypto Wallets

Crypto wallets play a pivotal role in the safekeeping and management of XRP and other digital assets. These can be either in the form of hardware, or software. So you may see a wallet in the form of a USB drive or get it on your smartphone.

Crypto wallets provide users with control over their private keys. They ensure the security and integrity of holdings.

Beyond storage, crypto wallets facilitate the easy transfer of XRP between users. They offer simple address management, transaction history tracking, and multi-signature support.

Some software wallets also act as the best Bitcoin lending sites, where you can store XRP and receive interest.

3. Peer-to-Peer (P2P) Platforms

Peer-to-peer platforms changed the way individuals buy and sell XRP by directly connecting buyers and sellers. The whole process happens without intermediaries.

In these decentralized marketplaces, users can negotiate prices, payment methods, and transaction terms.

This fosters a dynamic and flexible trading environment. With a focus on privacy and autonomy, P2P platforms (DEXs) enable seamless XRP transactions.

4. Cryptocurrency ATMs

Cryptocurrency ATMs, (Bitcoin ATMs, Bitcoin machines), have emerged as convenient and accessible channels. These are used for purchasing XRP and other digital assets using fiat currency.

They are positioned in public locations such as shopping malls, airports, and convenience stores. These machines offer a user-friendly interface for instantly converting cash into XRP.

They support various cryptocurrencies and payment methods, including cash and credit/debit cards.

Cryptocurrency ATMs cater to individuals entering the world of digital currencies.

They have relatively higher fees compared to online exchanges. Cryptocurrency ATMs provide ease and immediacy for users looking to get XRP in physical locations.

5. OTC Desks

Additional methods for purchasing XRP may include over-the-counter (OTC) desks. Here, large volumes of XRP can be bought directly from sellers.

OTC desks are geared toward larger investors or institutional investors. They also serve early adopters and offer the option to purchase large amounts of cryptos without alerting the market about the transactions.

6. Decentralized Exchanges (DEXs)

Decentralized exchanges operate without a central authority, offering enhanced privacy and control over funds.

DEXs specifically help in mitigating the risks associated with centralized exchanges. By using blockchain technology and smart contracts, these platforms provide a secure and transparent framework for peer-to-peer trading.

Alternative Ways to Buy Ripple – PayPal, Venmo & Cash App

There are three additional ways to invest in Ripple indirectly:

PayPal

Buying with PayPal gives you access to XRP. However, you’d have to buy Ethereum first, and then exchange it for Ripple on another platform. Or, you can link your PayPal account to an exchange that supports XRP transactions.

PayPal offers a familiar and user-friendly interface. It is a popular choice for cryptocurrency investing. Plus, it’s supported by industry leaders such as Kraken.

Venmo

You can buy crypto on Venmo and then send it to an exchange. There, you’d swap the crypto you have for XRP.

Cash App

Cash App is another convenient app to use to invest in crypto.

You can buy BTC on Cash App, send it to an exchange, and buy XRP.

However, these two methods require that you purchase another crypto first, and then exchange it for XRP. Plus, Binance or Uphold may not support these payment methods.

What is XRP?

Ripple (XRP) is a digital currency that operates on the XRP Ledger. It is an open-source blockchain platform developed by Ripple Labs. It acts as a payment protocol.

XRP primarily serves as a bridge currency for facilitating fast and low-cost cross-border transactions.

Its native token is used as a medium of exchange within the Ripple network.

One of XRP’s distinguishing features is its scalability and high transaction throughput. It is capable of processing up to 3,400 transactions per second. 

This efficiency makes it particularly attractive for financial institutions and payment providers. Especially those seeking to improve the speed and cost-effectiveness of global money transfers.

Another key aspect of XRP is its consensus mechanism. It differs from the proof-of-work model used by Bitcoin. XRP utilizes a unique consensus algorithm called the XRP Ledger Consensus Protocol (XRPL Consensus Protocol).

In this, XRP relies on a network of independent validators to confirm transactions. There’s no need for energy-intensive mining.

Furthermore, Ripple, the company behind XRP, has developed various products and solutions. Most are tailored to enterprise-level cross-border payments. This includes RippleNet and On-Demand Liquidity (formerly known as xRapid).

These platforms leverage XRP’s liquidity and speed. They use it to enable real-time settlement and lower liquidity costs for financial institutions around the world.

Difference Between Ripple, XRP Ledger, and XRP

Ripple is a technology company focused on improving international money transfers. It provides tools and services to banks and financial institutions to make these transfers faster and cheaper.

Ripple is a real-time gross settlement system, currency exchange, and remittance network. It is open to financial institutions worldwide and was created by Ripple Labs Inc., a US-based technology company.

The precursor to the Ripple and its XRP currency as we know it today was first developed by Ryan Fugger. But it wasn’t until 2012 – and the work of Jed Caleb and Chris Larsen – that led to what we now know to be XRP.

The XRP Ledger is a digital platform created by Ripple to facilitate these transactions. It’s like a superhighway for money, allowing for quick and secure transfers between parties.

XRPL is a blockchain ecosystem focused on cross-border payments. It also involves smart contracts and cryptocurrencies. Chris Larsen created it in 2012. It powers the Ripple payment network.

It offers fast, low-cost, real-time transfers of Ripple currency, fiat currencies, and many other digital assets. It uses the XRP Ledger Consensus Protocol for quick transaction validation.

XRP is the native digital currency of the XRP Ledger. It’s used as a bridge currency for converting one currency to another during transactions.

In essence, Ripple is the company behind the technology, and the XRP Ledger is the platform that enables transactions. XRP is the digital asset that moves value across the ledger.

Together, they form a system that aims to revolutionize cross-border payments and enhance the efficiency of global financial transactions.

Safety, Reliability, and Profitability of Ripple

Ripple has faced scrutiny regarding the safety and reliability of its native digital asset, XRP.

This legal issue intensified following the U.S. Securities and Exchange Commission (SEC) v. Ripple court case in the United States Southern District Court of New York.

In 2020, the SEC alleged that Ripple raised over $1.3 billion back in 2013. This was alleged through the sale of XRP in an unregistered security offering.

Despite Ripple’s argument, supported by previous statements from an SEC director, that XRP should not be classified as a security, the legal proceedings continued.

On July 13, 2023, the court delivered its verdict. It determined that while XRP is sold on exchanges to the public, it is not considered a security. It is classified as such when sold to institutional investors.

This legal saga, along with regulatory uncertainties, has impacted investor confidence in XRP.

In terms of profitability, XRP’s recent history reflects volatility. Like many cryptos, XRP’s price has experienced significant fluctuations over the past five years.

Factors such as market sentiment, regulatory developments, and adoption trends have influenced XRP’s price movements. While XRP has seen periods of rapid growth, it has also faced periods of decline.

Ripple vs. Bitcoin

Here’s a brief comparison of Ripple and Bitcoin:

Bitcoin was created in 2009 by an anonymous person or group known as Satoshi Nakamoto. It is often referred to as digital gold. It was the first cryptocurrency and remains the most well-known and widely adopted.

Bitcoin operates on a decentralized network. It uses a Proof-of-Work consensus mechanism to validate transactions and secure the network.

Its primary purpose is as a decentralized digital currency. BTC provides an alternative to traditional fiat currencies and the existing financial system.

Ripple, on the other hand, is both a technology company and a digital currency. Ripple aims to revolutionize cross-border payments. As mentioned above, it provides a fast, and low-cost solution for financial institutions.

Its digital currency, XRP, is used as a bridge currency for facilitating international money transfers. Unlike Bitcoin, Ripple operates on a more centralized network. It comes with a focus on scalability and interoperability with existing financial infrastructure.

Bitcoin and Ripple both utilize blockchain technology and offer decentralized alternatives. But they serve different purposes within the cryptocurrency ecosystem.

Bitcoin focuses on decentralization and the store of value.

At the same time, Ripple prioritizes efficiency and accessibility in cross-border payments.

The choice between Ripple and Bitcoin depends on individual preferences and investment goals.

Trading Ripple vs. Buying Ripple vs. Investing in Ripple

Trading Ripple

Trading Ripple involves buying and selling XRP to profit from short-term price fluctuations. You can trade XRP on some of the best crypto trading platforms with leverage.

Traders often use technical analysis, market trends, and trading strategies. This is done to make informed decisions about when to buy or sell XRP.

Trading can be done on various cryptocurrency exchanges, or via P2P mediums. Traders can take advantage of leverage and advanced trading tools to amplify potential profits.

However, trading also carries significant risks. Some include market volatility, liquidity issues, and the potential for losses. Traders should conduct thorough research, and use risk management techniques. Be prepared to react quickly to changing market conditions when trading Ripple.

Buying Ripple

Buying Ripple involves purchasing XRP to hold it for the long term. This can be done through cryptocurrency exchanges or mobile wallet apps, just like you would for buying Shiba Inu.

XRP is available globally, on some of the best crypto exchanges in Canada and the top crypto exchanges in the UK and the US.

Buying Ripple is often seen as a strategic investment in the potential growth and adoption of XRP as a digital asset. Investors believe that XRP may appreciate over time due to its utility in facilitating cross-border payments. It may also integrate with more financial institutions.

However, buying Ripple carries market risk. Investors should carefully consider their investment goals and risk tolerance before purchasing XRP.

Investing in Ripple

Investing in Ripple goes beyond simply buying and holding XRP. It involves researching and understanding Ripple’s technology, partnerships, and long-term vision.

Investors may choose to invest in Ripple by purchasing XRP and holding it as a long-term investment. Just like Bitcoin, they believe in its potential for future growth.

Additionally, investors may consider investing in Ripple indirectly. This can be done by purchasing shares of companies that are heavily involved in Ripple’s ecosystem or crypto funds that hold XRP.

Investing in Ripple requires careful consideration of market dynamics, and regulatory developments, as well as a long-term investment horizon and risk management strategy.

Why Trust Us?

We craft our articles with meticulous attention to detail.

Our team of cryptocurrency experts thoroughly researches and verifies information to help you learn how to buy XRP. We then distill this knowledge into clear, concise, and easy-to-understand content.

With a commitment to transparency and accuracy, we ensure that every article we produce is reliable and trustworthy. By combining our expertise with a dedication to quality, you’ll help you buy XRP easily.

Frequently Asked Questions

1. 01.

   Is XRP Legal to Buy?

   

   Yes, XRP is legal to buy. It’s available on various cryptocurrency exchanges where users can purchase it with fiat currency or other cryptocurrencies.

2. 02.

   When Will the XRP Lawsuit End?

   

   The duration of the XRP lawsuit is uncertain. Legal proceedings can take time, and the outcome depends on various factors, including court decisions and settlements.

3. 03.

   Why is Ripple so Cheap?

   

   Ripple’s price may be influenced by factors like market demand, supply, and investor sentiment. Additionally, regulatory uncertainties and competition within the cryptocurrency space can impact its value.

4. 04.

   Is Ripple Better Than Bitcoin?

   

   Both Ripple and Bitcoin have different purposes. Ripple focuses on fast, low-cost cross-border payments, while Bitcoin is a decentralized digital currency. The “better” choice depends on individual needs and preferences.

5. 05.

   Is XRP a Safe Investment?

   

   As with any investment, there are risks associated with XRP. Factors like market volatility, regulatory changes, and technological developments can affect its value. Investors should conduct thorough research and consider their risk tolerance before investing in XRP.

6. 06.

   Who is Behind Ripple?

   

   Ripple was founded by Chris Larsen and Jed McCaleb in 2012. Today, Brad Garlinghouse serves as the CEO of Ripple, leading the company’s efforts to revolutionize cross-border payments using blockchain technology.