How to Buy Ripple
Cryptocurrencies are spreading around the world at such a fast pace that has not been seen recently in any segment of the economy. With numerous cryptocurrencies emerging daily, the curiosity of the investors is increasing at a rapid speed. Early adopters are gaining a fortune out of these cryptocurrencies. One such cryptocurrency is Ripple, which is one of the most popular crypto currency after Bitcoin and Ethereum. Ripple is gaining popularity due to the fact that it is innovatively designed to allow transfers around the world at record speed and for very less transactional costs. Ripple is focused on working with financial industry in order to provide an efficient and cost-effective payment network of transacting real-time payments anywhere in the world because of its ability to transfer a currency into almost any another currency within seconds.
If you are thinking of buying Ripple or doing your research on how to buy Ripple then definitely you know by now that you cannot buy Ripple directly! There is no easy and straight way to buy Ripple, like you can when it comes to buying other cryptocurrencies like Bitcoins and Ethereum. Few sites like Bitstamp currently allow users to purchase XRP with Euro and USD. And out of all cryptocurrency ATMs, only about 1 % support Ripple. In this article, we will be dealing with the steps involved in buying XRP, the token for Ripple.
Ripple is currently in demand but the catch is that it is still not supported by all exchanges. Until these exchanges add support for buying XRP, we need a little workaround to purchase XRP through these sites. You need Bitcoins to buy Ripple or you need to buy Ethereum and exchange it for XRP. If you are able to buy any cryptocurrency, then you can buy Ripple too. Few websites like Bitpanda and Coinbase, to name a few, allow you to buy Bitcoins directly using your credit card or bank account. You then need to convert your Bitcoins to Ripple through digital exchange service providers like Changelly. The entire conversion takes less than 10 minutes.
Alternatively, you can buy Ripple through a Ripple wallet. For this, you need to download and install the Ripple wallet on your computer. You then need to create your account for logging in to the wallet and set up a secure password. Once that is done, you will be presented with your Ripple wallet address and a secret key. Once you activate your Ripple wallet, you can buy the cryptocurrency Ethereum and exchange it for XRP through Binance. There are many other exchanges which allow to you to buy XRP like Coinone, Bitbank, Bitsane, BTCXIndia, Kraken, etc.
Once you buy a Ripple Crypto Currency, one thing that you need to take care of is that do not store your XRP on an exchange. Always withdraw your XRP to any offline wallet to secure them and prevent theft. With cryptocurrencies hitting the money market, the world is on a turn around. You can choose to stand aside and watch the world evolve into a decentralized economy or be a part of this historic transition.
Michelle writes about cyber security as well as how to protect your data online. She has worked in internet technology for over 20 years Michelle earned a B.S. in Engineering from Rensselaer Polytechnic Institute. She published a guide to Cyber Security for Business Travelers