The invention of cryptocurrencies has undoubtedly captured the lion’s share in the market. Many people believe this trend or hike is mainly because of the fame the leading digital currency i.e. bitcoin has gained since its creation. While the popularity of bitcoin is unquestionable, other cryptocurrencies have given it tough time in last couple of years. Moreover, bitcoin still needs to resolve several limitations and problems in order to be perfect in the market.
As the problems associated to bitcoins continue to fester, developers are taking it as an ongoing opportunity to introduce new digital currency with the capacity to address specific situations. Ethereum and ripple are some of the cryptocurrencies that have made the mainstream media to cover their markets with breaking news on a regular basis.
What is Ripple?
The Ripple Labs Inc. is a technology company mainly famous for its real time gross settlement system that has been specifically designed to support financial products including fiat currencies, digital currencies, remittances as well as commodity exchanges. Besides that the company has created its own virtual currency commonly known as Ripples with the abbreviation for XRP.
Ripple coins are a form of digital currency that is controlled by their founding company using their own ledger system. It has numerous unique features that make it more than just a cryptocurrecny. Ripple Transaction Protocol (RTXP), for example, is a powerful financial tool that is designed for exchanges on the Ripple network to make payment transfer process much quicker and more efficient.
How to buy ripple cryptocurrency
Made by Ripple Company, the Ripple cryptocurrency is managed through a real-time settlement system that provides equal supports to other virtual currencies, fiat currencies, commodities, and remittance. Ripples are also known as XRP and can be obtained in a limited number of ways. Unlike bitcoins, however, this currency is not mined through a software or solving mathematical questions. Instead, you can purchase it from exchanges or the developer company.
Ripples or XRP has had in spike in the years of 2017 and 2018 though it also saw a pretty tough time since its creation. This cryptocurrency has not only become one of the most raving topics of discussion but also has significantly encouraged many investors to buy it for their good fortunes.
Ripple is in partnership terms with some of the world’s major financial providers, such as, Stantander, Western Union, and the SAMA. They together aim to provide users with a long-awaited international payment experience that is not only economical but is also immediate and genuinely reliable. Like other cryptocurrencies, Ripple can also be sent to anyone around in the world on a minimal fee within a few minutes. The process is almost same as you send traditional money through banks.
How to buy Ripple Cryptocurrency on an Online Crypto Exchange
The internet provides a few ways for interested investors and traders to purchase ripple coins online. These include crypto exchanges, such as Coinbase, bitstamp, Gatehub, and Bitfinex that make it easier for you to sell, purchase, and store your coins. Some other exchanges that allow you to exchange ripple with bitcoin are Binance, OKEx, Upbit, CoinEgg, and Exmo. You can also use OKEx, Gatehub, Mr. Exchange, and Bittrex to trade ripples and Ethereum.
Generally, buying XRPs from a crypto exchange has some common steps, such as described below.
Opening an Account
Generally, purchasing ripple is very easy regardless of the platform chosen for the same. Getting started involves creating an account or getting a ripple wallet through a fast and secured platform. For example, Coinbase has a specifically designed interface where you can keep your personal information safe and buy any cryptocurrency including ripples.
Verifying the identity
The second step of how to buy ripple cryptocurrency through a crypto exchange is verifying your identity. You will need to provide the exchange with a photo identity in order to make sure that it is you. Verifying your identity will help you prevent any thefts or frauds related to identity requirement for whatever transaction you do on the exchange.
Buying Ripple Coins
There is no need to pay huge to buy ripples from whatever crypto exchange you choose for the purchase. Having the freedom of making small purchases of this cryptocurrency makes it a reliable option and offers an opportunity to newbies to test their trading fortune with small quantities of investments. You can also use debit or credit cards or even connect to your bank account and buy as many coins as you want.
After signing up, some exchanges may require you to get a ripple wallet and a ripple address to receive your coins. Remember, getting a ripple wallet will need you to deposit 20 XRP coins for in order to prevent fake accounts. This deposit is usually not accessible after you have purchased for the first time.
How to Buy Ripple Cryptocurrency On-the-go?
There are several crypto exchanges including Coinbase that offer their apps for both iOS and Android users so they can easily buy their favorite cryptocurrecny from wherever they are. So, if you are on the go and want to buy ripple, use your exchange’s app and make a purchase right away.
How to Buy Ripple Cryptocurrency Peer-to-Peer
Some people prefer buying ripples peer-to-peer in order to have a complete control of their money all the time. A peer-to-peer exchange is solely operated by advanced computer software that automatically makes a connection between buyers and sellers without having to involve human intervention. You cannot get your coins stored with P2P exchanges. Instead, they just automatically connect you with a peer for trading purpose. This particular feature makes peer-to-peer exchanges a safer option than regular exchanges since they will not lose your hard-earned money or charge you higher fees.
Ripple is a newer form of cryptocurrency managed by the Ripple management network. It is cost efficient, fast, and reliable virtual currency being vastly accepted for cross-border payments. You can hold on your ripple coins for a number of purposes including making profitable investments, trading, sending to someone or using it to get exchanged with bitcoins. Unlike bitcoins, there are not many options when it comes to how to buy ripple cryptocurrency for trading. You can however go for trusted crypto exchanges as well as a peer-to-peer cryptocurrency market like Cointal. The best part of buying ripple cryptocurrency is that the overall process is entirely safe and secure.
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