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How to Buy Ripple (XRP) in 2024
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 how to buy 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.
How to Buy Ripple: Step by Step Guide
- Find a reputable exchange: You can buy Ripple through a crypto exchange, broker or peer-to-peer marketplace. Research the various platforms available and choose one that meets your needs. We reveal the best platforms below!
- Create an account: Sign up to your chosen broker with your email or phone number. You may need to verify your account with proof of ID.
- Fund your account: Connect a payment method to your account and deposit enough funds to cover the cost of XRP (plus fees).
- Search for XRP: Search for XRP and then view any available news or market insights to get a better understanding of the token’s performance.
- Buy XRP: Use your account funds to buy XRP by opening a ‘BUY’ order. The coins will appear in your account after a few minutes.
Best Platforms to Buy and Trade Ripple in 2024
This part of the guide uncovers the best platforms for XRP trading, buying, and storing Ripple.
Best XRP Exchanges
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. Although a number of brokers don’t allow you to buy XRP in the US, we’ve highlighted which do and which don’t.
|
Provider |
Fee (USD 1000) |
Get Started |
|
🥇Binance |
Starting from 0.1%; varies based on trading volume. | |
|
🥈 KuCoin |
Starting from 0.1%; varies based on trading volume. | |
|
🥉 Paybis |
2.49% |
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.
Although XRP is available on Binance, it isn’t available on Binance.US, so you won’t be able to buy XRP in the USA with Binance.
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.
US users can access some of KuCoin’s features, but as KuCoin isn’t licensed in the USA, they may be limitid in what they can do.
Paybis
To use Paybis, you can sign up either on your smartphone or desktop device. The service is available in 48 of the 50 US states, which is much better than other solutions like Binance (which doesn’t sell XRP to US customers anyway).
In terms of features, Paybis is relatively straightforward for individuals. You can access real-time price charts in addition to a cryptocurrency calculator. Both will continue to serve you as you become more advanced in your investment strategies.
Thankfully, Paybis does enable XRP trading and buying in the US.
Buy XRP on Binance: Step-By-Step Guide
Step 1: Open Binance
Go to the Binance website and click the “Get Started” button. You need to enter your email address and password to create an account.
Step 2: Verify Your Identity
Verify your email with the verification code and then upload an image of your photo ID.
Step 3: Deposit Money
Using one of the deposit methods available, deposit funds into Binance. The platform accepts bank transfers, cards, and other methods, depending on your loacation.
Step 4: Buy XRP
Open the spot trading interface, search for XRP, and create a buy order.
What is The Best Wallet to Store Ripple?
After buying Ripple from an exchange, it is important that you store your crypto in a secure wallet.
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.
|
Provider |
Wallet Type |
Get Started |
|
🥇 Ledger Nano X |
Hardware Wallet | |
|
🥈 Trezor Model T |
Hardware Wallet | |
|
🥉 Trust Wallet |
Software Wallet |
How to Sell Ripple in 2024 Using Binance
After you have seen a bit of growth on your investment, you may decide to pocket your profits and sell Ripple.
Selling coins like XRP is a smooth process with Binance. Here’s a simple guideline for cashing out your investment:
Step 1: Sign in to Binance and open the spot trading interface.
Step 2: Search for XRP and enter how much you want to sell in a sell order.
- Step 3: Confirm the order and wait for the transaction to finalise.
How to Trade Ripple (XRP) CFDs
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 two options:
|
Provider |
Fee (USD 1000) |
Get Started |
|
🥇 Eightcap |
The minimum spread is 0.001. | |
|
🥈 TickMill |
Typical spread of 0.001. |
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.
Crypto CFDs aren’t available in the USA
How to Buy XRP on a Mobile App
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:
|
Provider |
Fee (USD 1000) |
Get Started |
|
🥇 Crypto.com |
Starting from 0.075%; varies based on trading volume. | |
|
🥈 Kraken |
Starting from 0.26%; varies based on trading volume. | |
|
🥉 Binance |
Starting from 0.1%; varies based on trading volume. |
Crypto.com – Cheapest app to buy XRP USA
Crypto.com offers some of the cheapest trading fees available. You can get even lower fees if have a high trading volume or hold a large amount of the app’s native CRO token. Crypto.com’s availability in the USA makes it one of the best apps to buy XRP in the US.
Kraken – Simplest app for XRP trading
The intuitive user interface of the Kraken app makes it fairly easy to use, but traders and investors will also benefit from custom orders, market data, watchlists, and portfolio tracking tools. The Kraken mobile app is available to users in the US.
Binance – Best app for advanced XRP trading
If you’re interested in advanced XRP trading, then Binance could be the app for you. Users get access to hundreds of trading pairs, savings accounts, price alerts, and much more in the pro version. However, you can’t buy XRP in the US as the Binance.US app doesn’t support it.
Buy XRP on Crypto.com App: Step-By-Step Guide
Step 1: Create account
Download the Crypto.com app and fill in a few personal details in order to create your account.
Step 2: Verify your identity
Take a photo of your valid ID in order to prove your identity.
Step 3: Deposit funds
Go to the deposit page, choose your desired payment method, and enter how much you want to deposit.
Step 4: Buy XRP
Search the list of cryptocurrencies for XRP. Click the Buy button and fill in how much you want to purchase.
How to Buy XRP Using a Decentralized Exchange
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. As DEXs are available anywhere, they provide an alternative way to buy XRP in the USA.
|
Provider |
Fee (USD 1000) |
Get Started |
|
🥇 SimpleSwap |
Varies | |
|
🥈 Sologenic |
Varies |
Get started now |
|
🥉 onXRP |
Varies |
Get started now |
Peer-to-peer (P2P) trading refers to the direct trading of cryptocurrencies between two individuals without an intermediary. Since both parties can choose their preferred form of payment and an agreed-upon fee, it is mutually beneficial.
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 XRP trading.
|
Cryptocurrency Platform |
Can You Buy XRP? |
Trading Fees (USD 1000) |
Review |
|
Binance |
Yes |
Starting from 0.1%; varies based on trading volume. | |
|
TD Ameritrade |
No |
N/A |
N/A |
|
Bitstamp |
Yes |
Starting from 0%; varies based on trading volume. | |
|
Bittrex |
Yes |
Starting from 0.35%; varies based on trading volume. | |
|
Coinbase |
No |
N/A | |
|
Poloniex |
Yes |
Starting from 0.155%; varies based on trading volume. | |
|
BitMart |
No |
N/A |
N/A. |
|
Bitrue |
Yes |
Starting from 0.2%; varies based on trading volume. | |
|
BlockFi |
No |
N/A |
N/A |
|
CoinDCX |
Yes |
Starting from 0.2%; varies based on trading volume. |
N/A |
|
CoinSwitch |
Yes |
Starting from 0.5%; varies based on trading volume. |
N/A |
|
Crypto.com |
Yes |
Starting from 0.075%; varies based on trading volume. |
N/A |
|
EtherDelta |
No |
N/A |
N/A |
|
E*TRADE |
No |
N/A |
N/A |
|
Fidelity |
No |
N/A |
N/A |
|
Gate.io |
Yes |
Starting from 0.2%; varies based on trading volume. |
N/A |
|
Hotbit |
Yes |
Starting from 0.2%; varies based on trading volume. |
N/A |
|
Kraken |
Yes |
Starting from 0.26%; varies based on trading volume. | |
|
KuCoin |
Yes |
Starting from 0.1%; varies based on trading volume. | |
|
Robinhood |
Yes |
$0 commissions; varies based on order flow fee and trade volume. |
N/A |
|
Uphold |
Yes |
Buy spread of 0.95%. |
N/A |
|
Venmo |
No |
N/A |
N/A |
|
Voyager |
Yes |
$0 commissions |
N/A |
|
WazirX |
Yes |
Starting from 0.2%; varies based on trading volume. | |
|
Wealthsimple |
Yes |
$0 commissions. |
N/A |
|
Webull |
Yes |
$0 commissions. |
N/A |
Should I Buy XRP Right Now?
Investing in XRP is risky and may not be suitable for most investors due to the high price volatility and the difficulty in predicting future trends in the cryptocurrency market. It’s essential to conduct thorough research, consider market trends, and, if necessary, consult with a financial advisor before making any investment decisions.
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.
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 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, XRP 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:
|
Why should you buy Ripple? |
Why should you sell Ripple? |
|
Transactions are fast and cheap. |
Ripple has gained negative attention due to the SEC lawsuit. |
|
Ripple’s payment network is already being utilized by financial institutions. |
Centralized. |
|
Ripple can be used by individuals and business owners for secure transfers. |
XRP’s value is volatile and heavily depends on how the overall market is doing. |
|
Ripple has been one of the top-performing cryptocurrencies. |
Disliked by the community for being centralized. |
|
Supported on most crypto mobile wallet apps. |
Ripple’s huge market cap means there is little chance for significant profits. |
Do You Need to Pay Tax on Ripple in the US?
Compared to many countries, cryptocurrency laws and regulations in the US can be a little complicated. To understand US crypto laws, it’s worth keeping in mind that some aspects will differ on a state-by-state basis. If we look at regulations from a federal perspective, all crypto exchanges in the country must register with the Financial Crimes Enforcement Network (FinCEN).
Cryptocurrencies they’re classed as a currency by the Treasury. However, the Commodity Futures Trading Commission (FTC) refers to them as commodities. Like in many countries, you need to report and pay tax on cryptocurrency profits that you make in the US. Several scenarios are taxable, including selling your coins for cash. When announcing cryptocurrency profits, the IRS will class these as properties. If you earn below $40,400 in long-term gains from crypto over a fiscal year as an individual — or $54,100 if you’re the head of a household — you won’t need to pay tax. If you earn more than $40,000 in long-term crypto gains within a year (or $54,100 if you’re the head of your household), you’ll pay 15% up to $445,850 as an individual. This figure rises to $473,750 as of the head of a household. Anything above the figures mentioned above is taxed at 20%. If you’re filing as a married couple, your allowances are double that of a regular individual.
Short-term gains are taxed a little differently in the US. You’ll pay taxes on these in the same way you would income for a job, with the percentage ranging between 10% and 37% based on your tax classification.
Below are the thresholds and percentages you will pay according to your tax classification:
|
Individual |
% |
|---|---|
|
Up to $9,950 |
10 |
|
$9,951-$40,255 |
12 |
|
$40,526-$86,375 |
22 |
|
$86,376-$164,925 |
24 |
|
$164,926-$209,425 |
32 |
|
$209,426-$523,600 |
35 |
|
Anything above $523,600 |
37 |
|
Married couple |
% |
|---|---|
|
Up to $19,900 |
10 |
|
$19,901-$81,050 |
12 |
|
$81,051-$172,750 |
22 |
|
$172,751-$329,850 |
24 |
|
$329,851-$418,850 |
32 |
|
$418,851-$628,300 |
35 |
|
Anything above $628,300 |
37 |
|
Head of household |
% |
|---|---|
|
Up to $14,200 |
10 |
|
$14,201-$54,200 |
12 |
|
$54,201-$86,350 |
22 |
|
$86,351-$164,900 |
24 |
|
$164,901-$209,400 |
32 |
|
$209,401-$523,600 |
35 |
|
Anything above $523,600 |
37 |
Final Thoughts
The best way to buy Ripple in 2024 is to use a centralized exchange such as Binance or Coinbase. Both of these platforms offer a simple interface and excellent usability. To buy XRP, you will need to create an account, connect a payment method and swap fiat for XRP tokens through the exchange.
There are several ways to buy Ripple in 2024 and the best method for you will depend on your experience, goals and strategy. After reading our guide, we recommend that you explore different Ripple exchanges to see what each platform offers and learn more about the trading process.
Investing in cryptocurrencies will always come with a level of risk.
FAQs
What Is the Best Provider to purchase XRP Ripple in the US?
The most user-friendly platform in the United States to buy Ripple XRP is Kraken. It has an interactive smartphone app so you can trade XRP on the go, 2-step authentication, promotions, and more.
What Is the Cheapest Provider to Buy Ripple in the US?
CEX.io is one of the cheapest XRP exchanges in the US, with trading fees of 0.25% or less.
Is It Worth Investing in Ripple Right Now?
Ripple is not worth investing in right now because of the SEC lawsuit. XRP’s price is currently too volatile to be considered a good asset. NFA.
Is There a Limit to How Many XRP Ripple I Can Buy?
Established cryptocurrency exchanges have high liquidity, so limits should not be an issue. Also, brokers issuing CFDs allow you to purchase as much as you want.
Can You Buy Ripple on the Blockchain?
To buy Ripple, you must use a cryptocurrency platform like an exchange, broker, or P2P website. There is no option to purchase XRP directly from the blockchain.
What Can You Buy With Ripple?
Since Ripple is a payment currency that offers cheap and fast transactions, it’s accepted on over +1,500 online stores. Here are the main things you can buy:
-
Donations – Twitch
-
Charity – Red Cross
-
Computer parts – Newegg
-
Casino apps
-
Ecommerce – Shopify
Is XRP and XRP Ledger the same?
XRP Ripple is the native cryptocurrency of the XRP Ledger. All accounts in the XRP Ledger can send XRP Ripple among one another and must hold a minimum amount of XRP Ripple as a reserve. XRP can be sent directly from any XRP Ledger address to any other.
Can I buy XRP without an ID in the US?
It’s possible but difficult. Most platforms will require a KYC check when you sign up, meaning you’ll need to show a photographic ID and submit a selfie. Your best bet is to use a P2P marketplace or decentralized exchange.
Can I use an XRP exchange on my mobile phone?
Yes, it’s possible to use an exchange on a smartphone device. Many exchanges are accessible via a web browser on the phone, while others have apps available for iOS and Android.
Will I lose money trading XRP?
Trading any cryptocurrency is risky, and you’re likely to lose money at some point on your investment journey. Before trading XRP, it’s important to remember that you’re responsible for any losses and never invest what you can’t afford. You can minimize your risks of losing money by doing research beforehand.
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