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How to Buy Ripple (XRP)

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Ripple (XRP) is a cryptocurrency with a history of outsized returns for investors, but it should be stated that they do have a tumultuous relationship with the SEC. Please view our detailed Investing in Ripple guide to learn more about this digital asset.

Due to a recent complaint by the SEC against Ripple Labs some exchanges including Bittrex & Kraken have delisted the cryptocurrency from their platform.

Nonetheless, many popular exchanges continue to sell XRP. We feature the best exchanges to buy Ripple (XRP) with a credit card or debit card.

Binance

Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Ripple (XRP) here is that you benefit from the lower exchange fees than competing exchanges, and the increased liquidity enables you to buy and sell quickly to take advantage of market moving news.

Read our Binance Review or visit Binance.

Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

Paybis

Paybis operate a very well-trusted Bitcoin and cryptocurrency purchase platform where you can buy XRP and a range of other crypto using nothing more than your credit or debit card. They have been around since 2014 and have helped hundreds of thousands of people to make Bitcoin purchases.

If you simply want to buy XRP and hold then this is one of the easiest ways to buy XRP with a credit card or debit card.

Read our Paybis Review or visit Paybis.

Kriptomat

Kriptomat is an EU-based cryptocurrency exchange and wallet service that has been operating since 2018. They are headquartered in Estonia which is a trusted European hotbed for similar companies. Having been founded by tech-savvy Srdjan Mahmutovich, they are now operating in more than 80 countries worldwide and serving users around the world. Kriptomat is an excellent option for European & Asian investors who simply wish to buy and sell Ripple (XRP) for the long-term. No USA customers.

Read our Kriptomat Review or visit Kriptomat.

Poloniex

Poloniex was founded in the US in 2014 and has quickly risen to become a very popular exchange of choice for many crypto traders looking to combine a strong range of assets, with great value. They are continuing to expand their asset range all the time, with more than 100 different pairs choices now available to trade. With a recently revamped look, the exchange is also looking more professional than ever with trading in futures and on leverage of up to 100:1 also now available to access.

Read our Poloniex Review or visit Poloniex.

Coinberry

Coinberry is making it easy to purchase Ripple (XRP) in Canada with no fuss and buy or sell the asset quickly through their easy to use platform. They have been around since 2017 and have a number of highly-trusted partnerships that set them up with a solid reputation for cryptocurrency. They are also registered with FINTRAC as a Money Services Business, so very trustworthy from that standpoint. No USA customers.

Visit Coinberry.

Best for

Advanced Users

Best for

Instant Purchase

Best for

European Traders

Account Minimum

None

Account Minimum

$50

Account Minimum

€35

Promotions

10% Cashback

Discount Code: EE59L0QP

Promotions

None

Promotions

None

What is Ripple?

XRP is a popular, open-source, cryptocurrency, which boasts attributes such as fast settlement times and a fixed supply.

XRP is most commonly associated with Ripple Labs, as this U.S. based company controls a majority of the 100 billion XRP tokens in existence.

Due to the percentage of XRP help by Ripple Labs, a complex relationship has evolved, over time.  This has resulted in much confusion when differentiating between XRP and Ripple Labs.

What does it do?

XRP is typically viewed as a ‘bridging currency’.  This means it can be used as an intermediary, facilitating the exchange of currencies.  It is also able to make fast and cheap international payments a reality.

How does Ripple work?

Underpinning XRP is not one of the commonly used POW of POS protocols.  Rather, XRP utilizes a consensus system, comprised of anyone that desires to run an XRP node.  Despite Ripple Labs controlling the majority supply of XRP, the ability for anyone to set up a node gives credence to the argument that the cryptocurrency is indeed, decentralized.

Nodes on the network are responsible for verifying the validity and time-based order of transactions taking place.  Agreement between nodes on this data occurs in under 5 seconds.

Projected Developments?

Due to regulatory concerns over the status of XRP, as a security, projected growth of the cryptocurrency is difficult to pin down.  While there will, no doubt, continue to be development of services utilizing XRP, growth be kept in check while its status remains in limbo.

If determined a security, the road ahead will be tough for XRP.  If cleared of this designation, and adoption of the cryptocurrency is seen among world banks, XRP looks to have a bright future.

Un-phased by the uncertainty of classification, Ripple has indicated and shown a propensity for continued development of their platform, and product adoption.

Underlying Ideology?

To date, it appears as though the ideologies which drive Ripple labs are not to overthrow traditional banking systems, but to help them evolve.

To help them evolve, Ripple Labs has been working hand-in-hand with banks, for years now; essentially counting on the transition of banks, rather than the complete replacement of our current system.

Acceptance and Controversies?

Ripple has done well to achieve modest adoption of XRP, in recent years.  Various banks, and forward thinking companies, have run programs trialing the usage of this cryptocurrency.

Alongside this acceptance, there are two main controversies which have continued to plague XRP over the years.

  1. Manipulation – While this has not been proven to be the case, there are many that believe Ripple Labs manipulates the supply of XRP available to the public, in an effort to suit their own needs.
  2. Clientele – Many proponents in the world of cryptocurrencies are in it to build a world not reliant upon traditional banks. Ripple Labs, however, has gone down a path that would see them serve the very institutions that Bitcoin was built to circumvent.  While many are not swayed by this argument, there are those that do not support Ripple Labs and XRP, simply based upon their goals.

Regulation?

Ripple Labs and XRP find themselves in a state of disarray, with regards to regulation.  While they remain steadfast in their belief that XRP is not a security, there are those that believe otherwise.  This has resulted in on-going lawsuits arguing this point.

To date, there is no definitive answer on the classification of XRP.

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Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.

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