How to Buy XRP in 2022

Dominikas Pupkevicius

Last updated 13th Dec 2022

Disclosure

Ripple (XRP) is a popular payment cryptocurrency that allows cheap and fast transactions across the globe. This guide will cover everything you need to know about Ripple. From exploring the most popular platforms to buy XRP to investigating the best wallets to store your cryptocurrency assets, we have covered it all in this guide. You’ll also learn some interesting facts and information to help you decide if XRP is worth your investment or not.

Best Crypto Exchanges to Buy XRP

We listed below the best XRP exchanges.

1

Minimum Deposit

$50

Exclusive Promotion

User Score

10

More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities

Buy crypto, or trade cryptocurrencies via CFDs

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This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

2

Minimum Deposit

$

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User Score

7

The largest NFT marketplace

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3

Minimum Deposit

$

Exclusive Promotion

User Score

7

Made for NBA fans

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4

Minimum Deposit

$

Exclusive Promotion

User Score

7

Aggregated NFT marketplace

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5

Minimum Deposit

$

Exclusive Promotion

User Score

6

NFT Art Marketplace

Start Trading

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eToro - The Overall Best Way to Buy XRP

eToro is perhaps the best platform to buy XRP because this broker offers free insurance for up to 1 million EUR/AUD/GBP, copy trading, different trade order types, and segregated accounts. You can also launch a demo account to test the software and learn how to trade before risking real funds. Furthermore, the platform has multiple deposit methods, fast ID verification, and an interactive crypto app. You can learn more about eToro in the table below:

How We Compare

In the comparison table, we include crucial information such as trade values, fees, and ease of use so if you are new to cryptocurrencies, you know which platforms are the easiest to navigate and where to go to avoid hefty transfer fees. For your peace of mind while trading, we state whether or not each crypto is regulatory-approved and by which institutions.

We even add our own overall rating of each crypto coin.

There is a lot happening in the cryptocurrency market right now, with a variety of tokens created on different platforms and a mode of operation that is very unlike that of traditional financial institutions. Both novice and experienced investors can use our comparison tables to simplify the process of identifying the right cryptocurrencies for them.

As with any investment, the decision to enter the cryptocurrency market requires thorough research. You can rely on us to provide the most up-to-date and accurate information, as we only use credible and reputable sources for our content. This puts investors in the best position to make smart crypto decisions.

Best Platforms to Buy and Trade XRP

This part of the guide uncovers the best platforms for XRP trading, buying, and storing Ripple.

• How to trade XRP

Buy XRP using cryptocurrency brokers - the easiest way

The most straightforward way to acquire Ripple is via a cryptocurrency broker. These are platforms that facilitate trades between users for a fee. They have simple interfaces and often have an educational section for traders to help them in leveling up their game.

eToro

eToro is amazing for its simplistic design principles, which make crypto trading easy for beginners. In addition, the platform features a demo account and in-depth courses to help get started.

Binance

Binance provides a premium user experience with an intuitive trading interface, multiple deposit options, and swap pairs for XRP. Also, they have a built-in wallet where you can securely store your crypto assets.

KuCoin

KuCoin is one of the cheapest and easiest crypto exchanges to use because of its many trading tools. Moreover, they focus on providing excellent security, and all users can choose to have a trading interface password with 2-step authentication.

Buy XRP on eToro: Step-By-Step Guide

Step 1: Open eToro

Go to the official eToro website and press the “Start Investing” button at the center of the screen. Now type in your username, email, and password, and accept the terms & conditions. Next, access your dashboard and verify your email.

Step 2: Verify your identity

Provide eToro with your personal information like your name, surname, and physical address. Then verify your identity by uploading a picture of your passport, driver’s license, or ID card.

Step 3: Deposit money

Using one of the deposit methods available, deposit funds into eToro. The platform accepts bank transfers from your bank account, debit cards, PayPal, and various online banking apps.

Step 4: Buy XRP

Head to the cryptocurrency section and select Binance Coin. Click “Trade” and input how much money you want to convert to BNB. Finally, press “Open Trade” to acquire the token.

Step 5: Send Ripple to a wallet

To send Ripple to your wallet go to the cryptocurrency tab and choose XRP. Then click “Transfer to Wallet” and the specified amount to send.

Best Wallet to Buy and Store Ripple - XRP Wallet Comparison

It is recommended to store your crypto assets in a cryptocurrency wallet, especially a cold wallet, rather than an exchange. This is important to shield your funds from different kinds of online attacks. Crypto exchanges are often targeted by hackers, risking the security of your funds. Below you’ll find the best hardware and software wallets for storing XRP short or long-term.

How to Sell Ripple in 2022 Using eToro?

Selling coins like XRP is a smooth process with eToro. Here’s a simple guideline for cashing out your investment:

1. Sign in to eToro and head over to the cryptocurrencies tab. Select XRP to open the trading interface.

2. At the top of the page, select the sell option and input the amount of XRP to exchange. Review the order and press “Open Trade” to finish.

Buy XRP Using CFDs - Best for Trading

An alternative way to invest in Ripple is with CFDs (Contract For Differences) issued by brokers. These are derivative products, so you won’t own the underlying asset while still investing in the coin. This also means you cannot withdraw, transfer, or spend your Ripple. However, crypto brokers often have easy investing methods, perfect for beginners. Here you can find the top three options:

eToro

The ideal choice for beginners trading XRP is eToro because it features simple graphs and an intuitive interface for investing. The platform is well-known for having a quick-response customer support team and a resourceful FAQ section which is updated from time-to-time.

Eightcap

Eightcap is an advanced trading software that lets you set up indicators and view different time graphs. The tutorials are accurate, and familiarizing yourself with the platform is fast.

TickMill

TickMill is perfect for expert traders due to its multiple trading apps (MT5, MT4, and CQG), tools, and graphs. Also, you can access educational resources like webinars, seminars, ebooks, infographics, and courses to strengthen your trading knowledge.

Best Apps to Buy XRP - Most Convenient

Exchange smartphone apps are the most convenient way to invest if you can’t physically access a desktop device. They allow you to trade, stake, withdraw, and deposit coins as long as you have an internet connection. Take a look at the top three options:

Buy XRP on eToro App: Step-By-Step Guide

Step 1: Create an account

Sign up for a new account with eToro and provide your personal details.

Step 2: Verify your identity

Next, verify your information so you can begin trading XRP.

Step 3: Deposit money

Then deposit money into your account using one of the multiple payment methods.

Step 4: Buy XRP

Open the cryptocurrency section and find XRP. Click on the crypto, and a buy crypto page will prompt up. Now input the amount you want to purchase and click “Open Trade” to finish.

Buy XRP With Crypto Exchanges - The Cheapest Way

You can experience affordable trading with cryptocurrency exchanges because these platforms follow a low-fee structure. Also, having a high 30-day trading volume will place you in a different fee bracket with better terms regarding the trading fee. These options were selected for providing a premium service along with low platform costs.

Buy XRP on Binance: Step-by-Step Guide

Step 1: Open Binance and register

Go to the Binance homepage and press the register button at the top. Then provide your email and a password. Next, verify your email address and provide Binance with information about yourself. Then verify your identity by uploading a picture of your government-issued document.

Step 2: Deposit money

Now, deposit fund into Binance using your preferred payment method.

Step 3: Open the trading interface

Next, open the trading interface and search for XRP. Then click the relevant trading pair to the fiat currency you’ve deposited.

Step 4: Complete the trade

Finally, fill out the box at the center of the screen. Choose the order type and the amount of money you want to exchange, then click the “Buy” button to complete the transaction.

Step 5: Confirm the transaction using the blockchain explorer

Blockchain technology is extremely transparent, and you can view all historical transactions. Websites like Etherscan, Blockchair, and BscScan are great for seeing the progress of your transfers.

Buy XRP Using Decentralized Exchanges (DEX) - The New Way

A unique way to buy XRP is with a DEX (Decentralized Exchange). This is a decentralized application built on the blockchain that uses smart contracts to run. Moreover, these platforms work by connecting a crypto wallet and swapping tokens using a liquidity pool system. Also, DEXs are unregulated and allow you to purchase coins anonymously.

Can You Buy XRP Using P2P Services?

There are no worthwhile platforms to use that offer P2P services for buying XRP. Instead, you can search for local crypto forum groups and facilitate trades in person. However, when trading in person, wait until the transfer is complete to avoid getting scammed.

Can You Buy XRP Using Other Trading Platforms?

Due to Ripple’s SEC lawsuit controversy, a few crypto platforms have de-listed the token. Here you can examine which exchanges or brokers still offer opportunities in buying XRP.

What Is the Difference Between Buying Ripple and CFDs?

Cryptocurrency brokers issue CFDs (Contract For Differences), which are derivative products. This means you will not own the underlying asset while speculating its future value. Also, with Ripple CFDs, you cannot transfer them from the broker and spend them. Below you can learn about some advantages and negatives of investing in CFDs.

Best Ways to Buy XRP

Here are the top crypto platforms to buy Ripple XRP using different payment methods and what they’re best for.

Buy XRP instantly with online banking - the fastest way

Binance is one of the best platforms that accept online banking as a deposit method with fast transfer times. Also, the exchange will remember your information, making future deposits convenient.

Buy XRP with PayPal - the safest way

You can buy Ripple with PayPal by using it as a deposit method on Crypto.com. Afterward, use the trading interface to purchase XRP.

Buy Ripple using a debit card - the cheapest way

Use your debit card to deposit funds on Binance and navigate to the spot trading tab to purchase XRP.

• How to buy XRP with debit card

Buy Ripple using a credit card

Investors can top up their accounts on Binance via credit card. This platform is brilliant for its educational resources, multiple Ripple trading pairs, and low fees.

• How to buy XRP with credit card

Best Platforms to Buy Ripple in Other Countries

The best providers vary between nations due to licenses, laws, and crypto regulations. Below you can analyze the top cryptocurrency platforms in each country to buy Ripple XRP.

What Are the Fees When Buying Ripple?

This table discloses the fees you’ll pay for buying $1,000 worth of Ripple and holding 30-days.

Cheapest Way to Buy XRP

Binance, KuCoin, and Kraken Pro have adopted a tier system for calculating fees. Based on your trading volume amount, you can potentially enter a different bracket with better fee rates. The listed options have great liquidity for XRP and better-than-average fee rates.

Fastest Way to Buy XRP

These crypto platforms were selected for their quick sign-up processes and instant deposit methods. Also, they all offer excellent trading tools and order types for buying XRP.

How to Buy Ripple Anonymously?

The following section covers how to purchase XRP without revealing your identity.

How to buy Ripple without registration or KYC?

You can avoid the registration and KYC process if you use a decentralized exchange. These applications require connecting a crypto wallet, allowing you to remain anonymous.

How to buy Ripple without verification?

KuCoin allows its users to trade XRP without completing ID verification. However, you can only deposit cryptocurrency, and your account will have withdrawal limits.

Alternatively, you can use a DEX to trade XRP because there is no verification process.

Can you buy Ripple offline?

Ripple cannot be bought offline as you need an internet connection to use brokers,crypto exchanges, and P2P platforms.

Should You Buy or Sell Ripple?

Ripple is a risky coin to buy as it’s in the final stages of a lawsuit with the SEC. Nevertheless, the coin is being utilized by hundreds of financial institutions, including UBS, Bank of America, and Santander Group, giving it a tremendous value. Here are some pros and cons if you want to learn more about the coin:

Do You Need to Pay Tax on Ripple in the US?

Cryptocurrencies are viewed similarly as “property” by the IRS. Therefore, you need to pay long or short-term capital gain tax depending on how long you hold XRP. Also, profits will impact which tax bracket you enter. To find the most relevant information visit your state’s official website regarding cryptocurrency taxing.

Ripple Price Prediction: What Is the Future of XRP?

No matter what experts say, predicting Ripple’s future value is near impossible due to the ongoing legal battle with the SEC. This part of the guide will analyze what can impact XRP’s value.

• XRP price prediction

What impacts Ripple price?

The five main factors impacting Ripple’s value are:

Adoption: Ripple is doing a great job of getting more banks on board with their payment system. Currently, they have over 100 financial institutions and are increasing that number every quarter.

Market status: Ripple’s value closely follows how the overall market performs. For example, during bull runs, when all altcoins are rising, Ripple will spike in value. However, during bear markets, XRP will bottom out.

News: Bad news like SEC suing Ripple negatively affected its price as investors pulled out funds. Similar news can have the same impact.

Laws: Countries implying stricter laws can make cryptocurrencies less accessible, resulting in fewer people investing. Also, unfriendly-crypto laws can make it harder for Ripple to become more adopted by institutions.

Demand: As demand increases and fewer people sell, Ripple’s value grows. This is because investors are willing to pay more for each coin.

Historical Ripple Course: Major Milestones in the History of Ripple

Below, you can learn about a few major milestones Ripple went through since it was launched.

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Other Ways to Make Money With Ripple in 2022

Now, you’ll learn about alternative ways you can make money with XRP.

Stake Ripple using DeFi or CeFi

Ripple cannot be staked because it uses a consensus protocol to facilitate transfers, not a POS (Proof-Of-Stake) system. Nevertheless, Binance has a flexible saving product for Ripple with approximately 0.45% APR. Therefore, you can still earn passive income, regardless if the coin does not support staking.

Buy Ripple using ETPs (ETFs & ETNs)

You can purchase XRP ETPs from 21Shares. These are Exchange-traded products sold on the stock exchange.

Buy and sell NFTs using XRP

NFTs (non-fungible tokens) are unique digital data stored in the blockchain that allows people to represent ownership over digital assets like tickets and art. Ripple has committed $250 million to the Creator’s Fund to bring artists’ NFTs to the XRP Ledger. However, currently, there is no marketplace for trading NFTs with XRP.

Buy stocks and shares in companies owning Ripple

Bank of America is one of the largest entities with investments in Ripple. Their stock is available to buy on eToro.

Use Ripple Faucets

Some cryptocurrency exchanges offer faucets to clients, which are rewards for participating in courses and quizzes. Coinbase is the ideal option for this activity since they offer many promotions. Also, you can track specific courses, and Coinbase will email you when it’s available to complete for rewards.

What Cryptocurrencies Are Similar to Ripple?.

Below are some alternatives to Ripple you may want to consider:

Stellar

For those who wish to send or receive money swiftly and affordably. Stellar might be a better option for you if you're seeking for a more decentralized blockchain. However, Ripple isa better option for you if you're seeking for a US-based blockchain.

Tether

Both coins have unique applications. Ripple's xCurrent software enables banks to differentiate themselves from the competition by offering state-of-the-art cross-border payment services while significantly reducing overall processing costs. Tether allows investors to transfer money while reducing volatility between the regular financial system and the cryptocurrency market.

Bitcoin Cash

Another competitor of Ripple is Bitcoin Cash, but due to XRP's faster transaction processing and lower fees, the Ripple system outperforms the Bitcoin Cash.

What to Consider when Buying XRP

Improves international transfers

Ripple is providing stiff competition to the payment giant SWIFT (the mechanism used by the majority of financial institutions for international money transfers). It offers a global payment network called RippleNet to facilitate international trade.

Financial institutions using RippleNet have the ability to send money using XRP. However, due to the volatility of XRP, most of Ripple's partners avoid it.

Quick and inexpensive

The speed and low cost of each transaction are the two main advantages of XRP. On Ripple, a typical transaction costs 0.0002 XRP.

Each transaction takes an average of five seconds to complete. In general, XRP is an effective way to send money.

It’s value has dropped significantly since all-time high from 2018

In 2021, many cryptocurrencies broke their previous highs, but XRP is an exception. When it briefly reached a price of $3.84 in January 2018, that was its peak.

The price of XRP, which has largely followed the ups and downs of the rest of the cryptocurrency market, reached $1.96 in April of this year. Since then, it has fallen and currently sits at around $0.46. The complaint from SEC is perhaps why XRP's gains have been less than other coins.

Is It Still Worth Investing in Ripple or Not?

Ripple is not worth investing in right now, mainly because of the SEC lawsuit. This event has caused XRP to experience multiple price drops and negative news coverage. Moreover, Ripple is a centralized cryptocurrency, defeating the purpose of creating a decentralized economy. Note: Not a Financial Advice (NFA).

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