HOW TO BUY RIPPLE

While all cryptocurrencies are a little different from one another, Ripple stands apart with its backing by major banks. That’s lead to some interesting partnerships, which in turn helped boost Ripple and by extension its transactional protocol, XRP, to become one of the largest cryptocurrencies by market share in early 2018.

here's a low down of ways to purchase Ripple.

1. Buying on an exchange

Although there are definitely better places to store your cryptocurrency than on an exchange, they still represent the easiest and most automated method of buying and selling them. There are tens of options out there, and popular ones like BitStamp and Kraken remain the easiest to recommend. Ripple Lab’s site has a list of exchanges that support the cryptocurrency, though when making your decision, make sure you choose one that is well established and has insurance should theft or hacks occur.

Each exchange will operate slightly differently, but most will involve several important steps. You’ll need to sign up for and verify an account, which in most cases will require some form of identification for fraud prevention, though it’s often a simple process.

The next step is to link your bank account or another form of payment method. That can be handled through the exchange dashboard. In the case of some exchanges — BitStamp and Kraken for example — you will then need to deposit some fiat current, like USD, into your account. Once it’s there, you’re ready to buy.

While all cryptocurrencies are a little different from one another, Ripple stands apart with its backing by major banks. That’s lead to some interesting partnerships, which in turn helped boost Ripple and by extension its transactional protocol, XRP, to become one of the largest cryptocurrencies by market share in early 2018.

What you’re then looking to do is make a new “buy order.” That may involve inputting a certain amount of XRP you want to buy, or a certain amount of USD (or equivalent) you’re willing to spend. Regardless, when you have settled on an amount you’re happy with, you hit the buy button and the money will be deducted from your deposit address and the equivalent XRP will be sent to your account.

1. Buying through direct trade

For those who don’t like the risk of having any currency stored on an exchange for any period of time, or just want more control over the price, direct trades are a better bet. Although peer to peer trades with XRP are no way near as common or as supported as similar trades with bitcoin, there are still some routes you can go down.

The only established site for trading fiat currency for XRP in a direct manner is Cointal. It supports a variety of payment methods, including Paypal, bank transfers, visa debit and credit cards, and gift cards, among others. To use the service you simply head to its homepage, input the amount of XRP you want, or how much USD you’re willing to spend, and then search for an offer. Relevant trades will be presented to you in list form, and you can filter the results by buy/sell orders, payment method, and local currency.

To select which trade to go for, you can look at prices, payment options, and seller feedback, to make sure you’re trading with someone reputable. Direct trades do have a little more trust involved than exchange trades, but the upside is that you are far less reliant on the website itself functioning. Were it to go down, you can still access your currency and/or XRP.

To complete a transaction, set up an account, login to it, and click the “buy now” button on the respective trade page. You will then be taken into a private chat with the seller, whom you can discuss the specifics of your trade. The short of it is that you make your payment, often into an escrow account for security reasons, and then once that’s been verified, the seller will send you the XRP to your specified wallet.