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how to buy xrp

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How to buy XRP (XRP)?

Binance is the best crypto exchange for buying XRP. Ledger Nano X is the most secure wallet for XRP. XRP is a digital asset that functions as a cryptocurrency and a payment protocol. XRP has gained lots of attention from investors due to its potential as a digital asset.

How to buy XRP: a quick guide

Binance is the best crypto exchange for buying XRP. You can buy XRP on Binance with USDT, BUSD, BTC, and euro, as an example. Binance has the best liquidity and the most currency pairs for XRP.

How to buy XRP, a quick guide:

  1. Click here to register a Binance account
  2. Go through the KYC process and verify your identity
  3. Fund your account via SEPA bank transfer or credit card
  4. Buy XRP
  5. Hold XRP at Binance or transfer coins to your own wallet

XRP is also listed on other popular exchanges, such as KuCoin and Kraken. You will find user guides for all the exchanges mentioned in this article by clicking the Reviews link from the main menu. These user guides include detailed instructions on how to make a deposit and how to buy cryptocurrency.

How to buy XRP: a detailed guide

Before purchasing XRP, you need to have your Binance account verified and make a deposit. Our Binance beginner’s guide will give you instructions on the verification and the deposit process. We recommend this article for beginners who have never purchased cryptocurrencies before.

Next, we’ll give you step-by-step instructions for buying XRP. We’ll be using the Binance mobile app, which can be downloaded from the Apple Stor or the Google Play Store. The app has Lite mode as the default setting. This guide is made by using the Lite mode as well.

Open the trading page

Click the yellow trading icon in the main menu of the mobile app.

binance trading mobile app

Select Buy from the pop-up menu that opens.

Select the XRP token

Next, you will see a list of cryptocurrencies on your screen. You can either scroll through the list and look for XRP or directly type XRP to the search field as shown in the image.

select xrp binance

Click the row where it says Ripple XRP to place a buy order.

Buy XRP

You are now on the Buy Crypto page. Enter the desired amount in euros or click the XRP icon with arrows above it. This will change the unit to XRP and allows you to buy, for example, exactly 10 XRP token.

buy xrp binance mobile

Proceed to the payment page by clicking the yellow Buy button.

Select the payment method

Finally, select the payment method you wish to use. If you have made a deposit earlier, you can pay the purchase from your cash balance. Alternatively, select one of the other available options.

xrp payment method

Finalize your buy order by clicking the Confirm button. This is how easy it is to buy XRP from Binance! Once you have confirmed the order, XRP tokens show in your account balance in a matter of seconds.

You can now hold the coins on Binance or withdraw them to your own crypto wallet. We’ll present the best options in the next chapter.

What is XRP?

XRP is a digital asset that functions as a cryptocurrency and a payment protocol. XRP was created by Ripple, a San Francisco-based technology company founded in 2012. Ripple aims to revolutionize financial transactions by providing fast and cost-effective cross-border payment solutions.

XRP is the native currency of the XRP Ledger. XRP Ledger is a decentralized blockchain-like system that facilitates fast and efficient transactions. It also serves as the underlying technology for RippleNet, which is Ripple’s network of financial institutions and payment providers.

RippleNet is a network that allows financial institutions to connect and transact with each other using Ripple’s technology. It provides a messaging and payment platform that allows instant settlements and low transaction fees. XRP plays a role in RippleNet as a bridge currency, facilitating the transfer of value between different fiat currencies.

It’s important to note that while Ripple created XRP and developed RippleNet, they are separate entities. XRP operates independently of Ripple, and its value is not directly tied to the success of Ripple. Below is a screenshot of Ripple’s website.

ripple labs

XRP can be purchased, held, and used by individuals and institutions as a digital asset. Its value is determined by supply and demand dynamics in the cryptocurrency market. If you buy and hold XRP, you operate inside the XRP Ledger.

Learn more about XRP’s history and technology from our XRP beginner’s guide.

XRP as an investment

XRP has gained lots of attention from investors due to its potential as a digital asset. However, it’s important to note that investing in XRP, like any other cryptocurrency, comes with its own set of risks.

Here are some key points to consider:

  • Volatility: XRP, like many cryptocurrencies, is known for its price volatility. The price of XRP can experience significant fluctuations within short periods. This volatility can present both opportunities and risks for investors.
  • Regulatory Uncertainty: XRP has faced regulatory scrutiny, notably from the U.S. Securities and Exchange Commission (SEC). SEC filed a lawsuit against Ripple, alleging that XRP is an unregistered security. This legal case adds a layer of uncertainty to XRP’s regulatory status, which can impact its long-term prospects as an investment.
  • Market Adoption: XRP’s value and potential as an investment are influenced by its adoption within the financial industry. Increased partnerships and usage of XRP by banks and financial institutions can contribute to its growth, while limited adoption may hinder its investment appeal.
  • Competitive Landscape: XRP faces competition from other cryptocurrencies and digital payment solutions. Investors should assess the competitive landscape and consider how XRP differentiates itself and maintains its market position.

XRP has one major advantage over its competitors. There is a massive community behind XRP due to its long existence in the market. XRP is one of the oldest cryptocurrencies after Bitcoin. XRP fans also seem to be loyal. They haven’t abandoned the project despite its lackluster price performance and the ongoing court battle.

You can follow the price of XRP from our dedicated page: XRP price.

How to store XRP safely?

Ledger Nano X is the most secure wallet for XRP. Ledger Nano X is the most popular cold wallet in the market and is used by small investors, professionals, and major corporations alike. It also supports thousands of other cryptocurrencies.

Ledger Nano X costs about 150 euros. Click here to buy Ledger Nano X from the manufacturer’s website.

If you prefer a free mobile wallet or a free desktop wallet, there are also other options. Trust Wallet is a popular mobile wallet, and it is free. Exodus and Coinomi are free wallets that can be run on mobile or desktop. You can also hold XRP on the exchange you bought it from. However, we don’t recommend this as a long-term solution.

Antti Hyppänen

Antti Hyppänen is the founder and editor-in-chief of AboutBitcoin.io. Antti has written articles about cryptos since 2017. He follows the crypto market every day of the year and is responsible for the daily operations of AboutBitcoin. Antti is not a maximalist regarding any cryptocurrency but looks at the industry objectively. Antti’s investment profile is “buy & hold,” i.e., he does not trade or use leverage. His crypto portfolio consists of mainly Bitcoin and Ethereum. Antti also follows macroeconomic events. In addition to cryptos, his interests include gold, silver, and the US stock market.