By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

BTCRepublic: Timely News & Analysis for Smarter Trading.

  • ABOUT
  • DISCLAIMER
  • CONTACT
New Logo Black BTCRepublic BTCRebpublic-New White Logo
  • Guides
    • Bitcoin
    • Ethereum
    • Altcoins
    • Blockchain
    • DeFi
    • Mining
    • NFTs
    • Wallets
  • News
    • Bitcoin News
    • Ethereum News
    • Altcoins News
    • NFT News
    • Memecoin News
    • Blockchain News
    • Stablecoins News
    • DeFi News
  • Reviews
    • Exchanges
    • Wallets
    • Casinos
    • Services
  • Price Predictions
    Price PredictionsShow More
    Ethereum Price Prediction 2024, 2025
    Ethereum Price Prediction 2024, 2025: What to Expect for ETH by 2030
    November 14, 2024
    Bitcoin Price Rises To $78k
    Bitcoin Price Rises To $78k After China Announced Stimulus Packages
    September 24, 2024
    Ethereum (ETH) Surged 15%
    Ethereum (ETH) Surged 15% In 7 Days Despite Whale Selloff
    September 23, 2024
    Worldcoin (WLD) Price Surged 16% As OpenAI Drops New AI Model
    Worldcoin (WLD) Price Surged 16% As OpenAI Drops New AI Models
    September 13, 2024
    Bitcoin (BTC) Falls Today Below $55,000
    Why Did Bitcoin (BTC) Price Fall Today Below $55,000?
    September 6, 2024
  • About US
  • Privacy Policy
  • Editorial Policy
  • Terms of Service
  • Disclaimer
  • Contact Us
Reading: How To Buy Ripple (XRP) 2024 – A Clean Guide For Beginners
Share
  • bitcoinBitcoin(BTC)$105,813.15
  • ethereumEthereum(ETH)$2,550.21
  • tetherTether(USDT)$1.00
  • rippleXRP(XRP)$2.17
  • binancecoinBNB(BNB)$648.71
  • solanaSolana(SOL)$147.67
  • usd-coinUSDC(USDC)$1.00
  • dogecoinDogecoin(DOGE)$0.170579
  • staked-etherLido Staked Ether(STETH)$2,548.74
  • tronTRON(TRX)$0.272973
Font ResizerAa
BTCRepublicBTCRepublic
  • Guides
  • News
  • Reviews
  • Price Predictions
Search
  • Guides
    • Bitcoin
    • Ethereum
    • Altcoins
    • Blockchain
    • DeFi
    • Mining
    • NFTs
    • Wallets
  • News
    • Bitcoin News
    • Ethereum News
    • Altcoins News
    • NFT News
    • Memecoin News
    • Blockchain News
    • Stablecoins News
    • DeFi News
  • Reviews
    • Exchanges
    • Wallets
    • Casinos
    • Services
  • Price Predictions
Follow US
  • About US
  • Privacy Policy
  • Editorial Policy
  • Terms of Service
  • Disclaimer
  • Contact Us
© 2024 All Rights Reservered by BTCRepublic.
BTCRepublic > Guides > Altcoins > How To Buy Ripple (XRP) 2024 – A Clean Guide For Beginners
Altcoins

How To Buy Ripple (XRP) 2024 – A Clean Guide For Beginners

Mary
Last updated: October 22, 2024 6:16 am
Mary
Published: May 17, 2024
Share
Disclosure: BTCRepublic provides analysis and forecasts but does not offer investment advice. Our content is for informational purposes only. Please conduct your own thorough research and consult with a financial advisor before making any investment in cryptocurrency.
How To Buy Ripple (XRP) - A Step-by-Step Guide For Beginners
Highlights
  • To buy Ripple, you must open a reputable cryptocurrency exchange account.
  • After funding the account, place an order based on the prevailing price of XRP.

Ripple is famed as a payments network running on blockchain technology. Ripple’s native token, XRP, is among the top ten largest cryptocurrencies in the market by market capitalization. When people buy Ripple (XRP), they join one of the fastest-growing projects in the burgeoning blockchain industry.

In the Bitcoin whitepaper, Satoshi Nakamoto had much hope for the potential of blockchain technology. However, while Bitcoin revolutionized the payments industry by making digital currencies a thing, its blockchain faced scalability challenges.

Contents
Understanding RippleWhat Is XRP?XRP’s PriceHow To Buy RippleChoose A Reputable Cryptocurrency ExchangeCreate An Account On The ExchangeFund Your AccountPlace An Order To Buy XRPStore XRP In A Secure WalletIn SummaryFAQsWhere can I buy Ripple?Is buying Ripple a good investment?Can I buy Ripple with a debit card?What is XRP used for?

Ripple is among the blockchains that stepped in to address Bitcoin’s limitations and ensure blockchain’s reach in the payments industry is achieved. As such, Ripple is dominating the global digital payments industry.

This article dives into the intricacies of how to buy XRP. It also educates beginners about this promising crypto project, how it works, and XRP’s potential for growth.

Understanding Ripple

The history of Ripple dates back to 2012. Ripple, a technology company based in the United States, developed the Ripple blockchain infrastructure known as RippleNet. This network aimed to allow banks to conduct seamless, fast, and cost-effective cross-border payments.

Ripple operates like the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system that expedites bank transactions. However, unlike SWIFT, Ripple employs blockchain technology to support payment settlements, remittances, and even currency exchanges, all in real time.

The @Ripple ad boldly declares: "Forget #SWIFT, isn’t fast enough!" 💨

The $XRP Ledger outpaces the outdated #SWIFT system in speed and cost efficiency. pic.twitter.com/olMFUB6TVN

— Brett (@Brett_Crypto_X) May 14, 2024

RippleNet later gave birth to the XRP Ledger (XRPL), an open-source layer one blockchain. Due to its commitment to streamlining the global payments industry, XRPLedger has gained adoption from leading players in the traditional payments industry, such as MoneyGram.

Ripple is also working with central banks worldwide to support the creation of central bank digital currencies (CBDCs). In May 2023, it launched a blockchain-based CBDC platform targeting central banks worldwide.

With these use cases, there is no doubt that XRP is among the few cryptocurrencies with utility. XRP is the currency used on XRP Ledger, and as its usage grows, so does its value.

What Is XRP?

XRP is the native token for the Ripple ecosystem. It is paramount to note that Ripple and XRP are different entities. Ripple is the network, while XRP is the token. The Ripple network does not need XRP to function.

However, this does not mean that the token does not have utility. XRP is used to transfer funds across borders at low costs. Financial institutions that want to launch their offerings on the Ripple network use it as a bridge currency.

XRP is a pre-mined token. This means that most of the tokens were created or mined before the project was launched to the public. The token has a total supply of 100 billion coins, with more than half of these coins already in circulating supply.

XRP’s Price

Before you buy Ripple, it is best to glance at the price to understand whether it is an excellent pick to diversify your investment portfolio.

At the time of publication, XRP was trading at $0.518, with a market cap transcending $28 billion. It ranks as the seventh-largest cryptocurrency by market cap.

XRP is not immune to the volatility that often rocks the cryptocurrency market. Its price can change drastically depending on market sentiment. Therefore, as you learn how to buy Ripple, you should conduct due diligence on the potential risks involved.

Below is a chart showing XRP’s price movement over the past year.

XRP’s Price
(Source: Tradingview)

Many factors can influence the price of Ripple. The forces of demand and supply have a bearing on price. Furthermore, if there are any developments within the Ripple network, XRP might record gains. A critical factor that drives XRP’s price is regulatory developments.

Before you buy Ripple, you should also understand that this token is under scrutiny from the US Securities and Exchange Commission (SEC). In December 2020, the SEC classified XRP as a security and sued Ripple’s co-founders for selling unregistered securities.

The case between Ripple and the SEC has been ongoing for more than three years, with the XRP community eagerly awaiting the outcome, which will have a bearing on how cryptocurrencies are regulated in the US.

The Ripple v. SEC briefs are FINISHED!

And I think the SEC went out with a whimper here.

It didn't even try to attack ODL sales, just noting that Ripple was trying to re-litigate the issue (which it is).

And it brought nothing new on damages.

Just waiting for The Judge now! https://t.co/r8nxNMTzqj pic.twitter.com/Futa93lXUb

— Jeremy Hogan (@attorneyjeremy1) May 8, 2024

It is important to note that the regulatory framework around cryptocurrencies has yet to be fully established in many jurisdictions, including the US. Therefore, before buying Ripple, research any potential legal risks.

How To Buy Ripple

How To Buy Ripple

Now that you understand the Ripple network and the potential risks that might arise e, we should explore how to buy Ripple. You should note that the SEC’s case against Ripple might affect your accessibility to the token on exchanges based in the US.

Below is a step-by-step guide on how to buy Ripple and be part of the active XRP community.

Choose A Reputable Cryptocurrency Exchange

The first step to buying Ripple is to choose a reputable cryptocurrency exchange. Cryptocurrency exchanges are platforms that list different cryptocurrencies. Once you open an account with them, you can buy Ripple and many other cryptocurrencies.

There are many cryptocurrency exchanges in the market and one of the daunting tasks that beginner crypto investors face is picking the best exchange that meets their needs.

Moreover, over the years, failures of several top-tier exchanges have made nascent crypto investors even more skeptical. One of the most reputable exchanges that collapsed recently was FTX, which went under with customer funds.

A cryptocurrency exchange is like a stock broker. Just like you would take caution before settling on any stock broker, you should also be cautious when picking an exchange.

Below are some factors to consider when picking a reputable crypto exchange:

  • Security: You should check to see whether the exchange that you intend to use to buy Ripple (XRP) has had a hacking incident in the past. A good cryptocurrency exchange should invest in robust security measures to protect user assets.
  • User-friendliness: If you are a beginner crypto investor looking for where to buy Ripple, it is best to go with an exchange that has user-friendly features. The user interface should be intuitive to give you a seamless experience. It should also make it easy for you to trade.
  • Supported currencies: You should ensure that a cryptocurrency exchange supports XRP before creating an account. Most exchanges will list all the tokens supported on their website.
  • Testimonials: The best way to know whether a cryptocurrency exchange has your best interest at heart is to check the testimonials from past users. If most testimonials are negative, you should refrain from creating an account with that exchange.

There are many cryptocurrency exchanges that you can pick from. Some of the most reputable ones today include Coinbase and Binance.

Create An Account On The Exchange

After settling on where to buy Ripple currency, it is time to create an account. To do so, sign up using your email address on the exchange’s official website. Some exchanges also have mobile apps you can download and use to create an account.

After creating the account, you must provide additional details, such as your full name and address. When filling out such information, ensure it is accurate, as you must verify it through a know-your-customer (KYC) process.

A KYC process involves submitting a government-issued document like an ID or a driver’s license. The verification process does not usually take much time.

When creating an account, secure it using a strong password. Hackers always seek to steal money from naive crypto investors by exploiting security loopholes.

Fund Your Account

Now that you have a cryptocurrency exchange account, it is time to fund the account. There are two ways that you can fund your account: using fiat currency or using other cryptocurrencies.

There are many ways to fund your account using fiat currency. You can choose to link your credit card or debit card. You can also perform a direct bank transfer or use payment platforms like PayPal.

Some exchanges might have only some of these options. Therefore, check the possibilities the exchange offers to fund your account.

The second way of funding your account is by using other cryptocurrencies. If you already own other tokens like Bitcoin or Ethereum, you can deposit them on the exchange, after which you will trade them for XRP.

Place An Order To Buy XRP

Place An Order To Buy XRP

After funding the exchange, you can now place an order to buy Ripple. Some of the most common order types that you will find on cryptocurrency exchanges include the following:

  • Market Order: A market order will be fulfilled at the prevailing price of XRP. For example, if you place a market order when the Ripple buying price is $0.48, the order will be fulfilled instantly at that price.
  • Limit Order: A limit order is used when you expect the price of XRP to drop. For example, suppose XRP is trading at $0.48, but you expect the price will drop to $0.45. You will create a limit order that will be fulfilled if XRP hits $0.45.
  • Stop-limit order: A stop-limit order comes in handy to reduce losses from your XRP investment. When you set a stop-limit order, the XRP you hold on an exchange will be automatically sold when the XRP drops below a specific price.

After the cryptocurrency exchange has fulfilled your order, the XRP you own will be reflected on your exchange’s balance. The amount of XRP tokens will remain the same, but the value in fiat terms might change depending on the token’s price.

Store XRP In A Secure Wallet

After you buy Ripple, it is best to get a cryptocurrency wallet that you will use to hold your tokens. It is not recommended that you leave your coins on an exchange. The crypto community has consistently advocated for self-custody as it gives you more control over your holdings.

The two main types of wallets that you can use to hold XRP securely are software wallets and hardware wallets.

A software wallet comes in the form of a mobile application. It allows you to hold your crypto online. With a software wallet, it will be easy for you to trade XRP as it is easy to deposit tokens to and from the exchange.

A hardware wallet will store your tokens offline, mainly in a USB device. A hardware wallet is more secure. It is the best choice when holding XRP for the long term or holding many tokens.

You should be wary of scams and hacking attacks constantly targeting crypto wallet owners. To protect your assets, you must secure your wallet with a strong password and check for any updates to patch vulnerabilities. You should also be wary of phishing campaigns.

In Summary

XRP is one of the top ten largest cryptocurrencies in the market. The token is associated with the Ripple blockchain network, making great strides in integrating blockchain technology in the global cross-border payments sector.

If you are a new cryptocurrency investor looking to buy Ripple, consider the risks, such as price volatility. Conducting your research before investing in any high-risk asset is also best.

The best place to buy Ripple is a cryptocurrency exchange. A cryptocurrency exchange is like a brokerage platform. You can create an account, fund it, and place an order depending on the amount you want to spend. After buying XRP, it is recommended that you store it safely in a cryptocurrency wallet.

FAQs

  1. Where can I buy Ripple?

    The best place to buy Ripple (XRP) is from a cryptocurrency exchange. Once you pick a reputable exchange, create an account and deposit the amount you want to spend to buy XRP tokens.

  2. Is buying Ripple a good investment?

    Ripple is a good investment if you want to invest in a token with broader utility. However, just like any other cryptocurrency, Ripple is often plagued by price volatility, which can cause significant losses within a short time.

  3. Can I buy Ripple with a debit card?

    Yes, it is possible to buy Ripple with a debit card. Your exchange will allow you to link your debit card, after which the amount you want to invest in XRP will be deducted.

  4. What is XRP used for?

    XRP is used as a bridge currency. It can be used by financial institutions that want to use the Ripple network and are looking for an easy way of paying for transactions.

Crypto Firms, Binance And KuCoin, Airdrop Tokens To Support Vietnam Typhoon Yagi Victims
MicroStrategy Proposes $500M of Convertible Senior Notes To Buy More Bitcoin
What is a DAO? Exploring the Future of Decentralized Governance
Top 8 Crypto Mining Apps for Android in 2024 – Best Mining Apps
How Does Ethereum Work? An In-depth Exploration for Beginners
TAGGED:BlockchainCryptoRipple

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Print
Mary BTCRebpublic
ByMary
Follow:
Muthoni Mary is an aspiring writer with a keen interest in the cryptocurrency and blockchain space. She combines her passion for finance and crypto with a talent for clear and engaging writing to curate informative articles.
Previous Article What Is Ethereum 2.0 - A Deep Dive Into The Future Of Ethereum What Is Ethereum 2.0? – A Compact Guide Into The Future Of Ethereum
Next Article How To Buy Ethereum In 2024 How To Buy Ethereum In 2024: A Comprehensive Guide For New Inventors
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular
The Hottest Picks
Exchanges News
Robinhood Develops Blockchain-Powered Platform To Trade US Securities in Europe
May 10, 2025
Stablecoins News
Global Stablecoin Boom? Stripe’s New System Says Yes
May 10, 2025
News
Market Chaos? Crypto Fear & Greed Index Dives to Trump Election Levels!
December 23, 2024
News
Trump Taps Crypto Ally Steven Miran to Shake Up Economic Policy
December 23, 2024

Follow Us on Socials

BTCRepublic use social media to react to hot news, update supporters and share authentic and factful information

Facebook Twitter Linkedin Telegram Pinterest
Footer Text white background

Subscribe to our newsletter

Stay ahead of the curve with the BTCRepublic newsletter. By subscribing, you will get information about what is happening in the Web3 world straight to your inbox.

More

  • About US
  • Privacy Policy
  • Editorial Policy
  • Terms of Service
  • Disclaimer
  • Contact Us
Reading: How To Buy Ripple (XRP) 2024 – A Clean Guide For Beginners
Share
© 2024 All Rights Reserved by BTCRepublic
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?