Ripple, also known as XRP, hit the markets back in 2012. A US-based company, Ripple Labs Inc., developed it. Ripple is a cryptocurrency and a blockchain-based network where the transactions take place. Ripple is popular among users because it does not differentiate between fiat money and cryptocurrency. 

Through the Ripple network, you can send or receive any currency. In fact, transactions where the sender uses a particular currency and the receiver wants to accept it as some other currency can also take place on the platform. XRP acts as the intermediary currency for these transactions. In addition, since transactions are conducted based on gateway credit, people don’t need to pre-fund their accounts. 

Ripple happens to be among the ten best cryptocurrencies, and rightly so. It partners with financial institutions to facilitate smooth transactions. Its goal is to improve international transactions. 

1

What to Consider When Buying Ripple?

If you wish to buy Ripple, there are some factors you need to take into consideration. These are discussed below:

The cost of buying ripple

The first thing you would have to check is the cost of Ripple. Like all other currencies, exchange rates for XRP are constantly fluctuating. XRP might be very costly depending on the market, or it might just fit your budget. So check the cost before deciding whether you want to buy the currency and, if yes, how much.

Since financial institutions use Ripple, the demand for the currency keeps on increasing. But the supply is limited; no Ripple tokens are created anymore. This results in a steady increase in the cost of Ripple.

Finding a reputable exchange

Do not buy cryptocurrency from random exchanges. When you conduct transactions via fiat money, you thoroughly check the currency for damage that might render it useless, right?

Similarly, cryptocurrency from random exchanges might be fraudulent, so keep away from those. Instead, get your currency from reputable exchanges only. Some of the most popular exchanges include Huobi Global, Kraken, Bitstamp, etc. Bonuses at Crypto Platforms

Usually, in a bid to encourage people to buy (and conduct their transactions via) cryptocurrency, crypto platforms offer a lot of bonuses on different cryptocurrencies. For example, you might get 10% cashback when using a specific cryptocurrency for your transactions. So, check whether Ripple-users get a lot of bonuses across such platforms.

Is the platform user-friendly?

Another thing that you would have to consider is the user-friendliness of the platform. Users should not feel confused when trying to make a transaction using Ripple.

Well, here is the good news. The Ripple network provides efficient, quick and hassle-free transactions, making it a favorite among users. 

2

Where to Get Ripple?

If you are wondering where to get Ripple, don’t worry. There are various sources where you can get Ripple; read on to find out more:

Cryptocurrency exchanges

Cryptocurrency exchanges are businesses that allow people to exchange their assets for money. The list of assets accepted by an exchange might vary. Some of the best cryptocurrency exchanges for Ripple are:

Trading apps

Trading apps allow you to buy or sell your cryptocurrency. This is different from a cryptocurrency exchange because you can only trade a specific cryptocurrency and not other assets.

Most sites or apps function as exchanges as well as trading apps.

  • Binance: This is the most popular site for cryptocurrencies. You can use it as a crypto wallet or as an exchange.
  • Kraken: Kraken accepts seven first currencies and more than 50 cryptocurrencies. You can check the XRP rate graph before buying it.
  • eToro: It supports more than 100 types of assets that you can exchange for XRP.
  • Coinsmart.com: You can use a credit card or debit card to buy XRP instantly. Other payment methods are also accepted; it’s just that those transactions take some time to be processed.
  • Crypto.com: Get XRP instantly by conducting transactions via bank transfers, debit or credit cards.

Ripple ATMs

In 2019, Ripple announced that you would be able to buy XRP using ATMs. XRPArcade provides you with a worldwide map of all ATMs that support XRP. So you can check the nearest ATM where you can buy XRP using this site.

Brokerages

These are individuals (or firms) who buy and sell cryptocurrency from the crypto market on behalf of a person. Keep in mind that brokers charge a brokerage fee for conducting these transactions.

The most popular brokerage firm for XRP is Robinhood.

3

The Steps of Acquiring Ripple

If you have decided that you want to acquire Ripple, these are the steps that you have to follow:

  1. Choose a Platform to Buy Ripple from

There are a lot of platforms where you can buy Ripple from. Consider the pros and cons of the platforms, and think about whether it caters to your needs. Then, after careful consideration, decide upon the platform from where you wish to buy Ripple.

  1. Decide on a Payment Option to Pay for Ripple

There is no shortage of payment options when you are buying Ripple. You could use cryptocurrency or fiat currency to buy Ripple, depending on the platform you choose to buy it from.

  1. Place Your Order

Finally, place your order. Adjust the number of XRP tokens you wish to buy, and make the payment.

  1. Receive and Safely Store Your Ripple

Once your transaction is processed, you will receive your Ripple tokens directly into your crypto wallet. Safely store them, and you are ready to conduct Ripple transactions like a pro.

FAQ

Is Ripple safe to use?

Yes, Ripple is a completely safe platform. It partners with financial institutions to provide a secure and seamless experience.

When was Ripple launched?

Ripple was launched in 2012 by Ripple Labs Inc., a US-based company.

Where do I get Ripple?

You can buy Ripple at cryptocurrency exchanges or from brokerages, ATMs, or trading apps. 

Where can I use Ripple for transactions?

There are a lot of crypto platforms where you can use Ripple for transactions.

How do I store Ripple?

There is a wide range of cryptocurrency wallets available to store Ripple safely. You can use any one among them. 

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