For any cryptocurrency that exists, there are hundreds of thousands of supporters. Some do it merely for financial gain, while others believe in the future of cryptocurrency and want to help the cause. Whatever the cause may be, it is apparent that everyone has a favorite. As a result, today we’d want to show you how to buy Ripple, one of the world’s most popular and profitable cryptocurrencies.
To begin, we’ll tell you a little about Ripple. I’m sure you already know a lot about this cryptocurrency, but a quick reminder is for a smooth start. Following that, we’ll discuss why and how to gain Ripple, as well as where to do so.
What exactly is Ripple?
Before we discuss Ripple, it is necessary to note one simple fact: the cryptocurrency we name “Ripple” is not “Ripple.”
Ripple is the name of the system that contains the aforementioned crypto-coin. We know the coin as XRP. However, people have grown so accustomed to calling the coin Ripple that no one bothers and everyone knows what they’re talking about. So, for clarity and simplicity, I will also refer to the coin as Ripple in this lesson.
Now that we’ve cleared everything up, what exactly is Ripple?
Ripple, in its most basic form, is a centralized cryptocurrency founded in 2012 by Chris Larsen and Jed McCaleb. Note the term “centralized” in the statement. Ripple is one of the few successful centralized cryptocurrencies.
The phrase centralized refers to Ripple’s ownership by a firm. Other cryptocurrencies today are decentralized, allowing everyone and everyone who wants to contribute to their growth to do so.
Decentralized cryptos have become the industry norm and are the cryptocurrency’s future. Ripple made it… How?
The Advantages of Ripple
Investors dubbed ripple “the Bitcoin killer” for a long period. That’s a big claim, but the currency has the means to back it up.
For starters, because Ripple is centralized, it thrives in its custom-designed environment. This enables the coin’s transactions to be exceptionally rapid, especially when we compare it to the rates provided by Bitcoin.
Another important factor in Ripple’s success is the coin’s place in the banking system. Ripple has collaborated with over 100 institutions globally, allowing the coin to enter the mainstream. If you are familiar with the subject of cryptocurrencies, you understand how significant this is.
There are now governments throughout the world who have outright banned cryptocurrencies from their territories. Ripple is the only cryptocurrency with a green light; because of proper regulations, institutions like banks are more tolerant and trusting of it.
How to Buy Ripple?
So… How to buy Ripple cryptocurrency?
Purchasing Ripple may prove to be more difficult than purchasing Bitcoin. This isn’t only because Bitcoin is so popular.
Because Ripple is centralized, it is not available on all the big bitcoin trading platforms. Many people who are seeking where to purchase Ripple may face a brick wall quickly when they discover that their preferred crypto trading sites do not offer the coin.
People are also interested in learning how to gain Ripple in the United States; there are a few services that provide decent exchange rates and transaction costs to US users. We’ve compiled a list of some of the most popular Ripple purchasing methods and platforms. Unless otherwise specified, this list is not in any order.
If you’re wondering how to buy Ripple, BitStamp is one of the most popular and simple options. BitStamp is even at the top of the list in the “XRP Buying Guide” section on Ripple’s official website. So, how can you purchase Ripple on BitStamp?
Foremost, you will require an account. To establish a profile on the site, you must provide your name, surname, email address, and country of residence. Following that, they will assign you a unique user ID and password. Remember this information since you’ll need it to access your account.
There is one more major step that is preventing you from purchasing Ripple – you will need to validate your account. You can accomplish this by presenting valid identification.
With cryptocurrency, many individuals are wary of the concept of proving their IDs. These folks just want to do their business privately, and ID verification is the polar opposite of that. Keep in mind, however, that Ripple is a centralized cryptocurrency.
It is fully legal to purchase, trade, and sell it. Such verification techniques are usual in this context. Once you’ve completed this process, you may deposit fiat currency and use them to purchase Ripple.
Kraken is another popular alternative for how to buy Ripple in the United States and the European Union. It is one of the market’s most known and reliable crypto trading platforms.
Kraken is one of the most trustworthy Bitcoin trading platforms on the planet. Kraken, based in San Francisco, was available to the public in 2011, barely two years after Bitcoin’s birth. The organization has established a name for itself.
How to buy Ripple on Kraken? Well, the procedure is like BitShare’s. You make an account, validate it, then verify your ID, and that’s it – you’re ready to trade. To gain Ripple, you’ll also need to deposit fiat money on the site. The most frequent fiat currency on Kraken is, of course, USD.
If you are especially seeking methods to purchase Ripple in the United States, Kraken is one of the finest places to go – not only is it reliable and trustworthy, but it is also in the United States. This speeds up and simplifies authenticating your account and purchasing Ripple.
Cex.io is another cryptocurrency trading site popular among those searching for how to purchase Ripple online. Despite not being as well known as the other sites on this list, Cex has earned a reputation as a reliable and trustworthy exchange platform.
The reason you may not have heard of Cex is that it is largely used by crypto aficionados in Europe and the United Kingdom. Cex functions as both a cryptocurrency trading platform and a cryptocurrency coin wallet, making buying, selling, trading, and exchanging coins on the site easier and more fluid.
The 2013 platform is famous for being extremely user-friendly. Another fantastic feature that Cex provides is that they store customer monies in offline storage places, which adds extra protection.
The procedure of how to buy Ripple on Cex is basic and consistent with the other exchanges on our list. Register, validate your account and ID, then deposit fiat currency or popular cryptos like Bitcoin or Litecoin – that’s all there is to it! You are now prepared to trade and purchase Ripple.
People couldn’t buy Ripple on Coinbase for a long time. However, things changed in 2019 when it introduced additional cryptocurrencies, like Ripple.
Coinbase is well-known not just as one of the most trustworthy cryptocurrency trading sites, but also as a suggested crypto wallet for storing your money. Although Coinbase provides a software wallet, we recognize it to be quite safe.
Purchasing Ripple on Coinbase is a breeze. All you have to do is sign up for an account and verify it. Then fund your account with fiat currency and begin trading Ripple.
How to Buy Ripple: Conclusion
As you can undoubtedly see, cryptocurrencies continue to elicit a great deal of interest throughout the world. People aren’t only wondering where to purchase Ripple; every prominent cryptocurrency on the market is being bombarded with identical inquiries. And, to be honest, this is a never-ending process.
In such a case, the logical line of thought would be that mostly decentralized cryptocurrencies would take the lead in terms of public interest. After all, the entire premise of a cryptocurrency is liberty and decentralization. But then we come upon Ripple.
Ripple’s effective market positioning might signify several things. It might show that people are still interested in it, that the founders are working on something major for the future, and that the cryptocurrency is getting recognized in decentralized-cryptocurrency-fan circles. However, it shows that Ripple is far from forgotten.
The goal of this lesson was not just to address simple queries like “how to buy Ripple?” or “where to buy Ripple”. We wanted you to understand the entire picture – not just learn about the purchase procedure, but also why thousands of people around the world are searching for “how to buy Ripple cryptocurrency?”
We have now completed the “How to Buy Ripple?” guide. We hope you’ll use everything you’ve learned to select the greatest Ripple trading platform available!