How to Buy Ripple
How to buy Ripple XRP tutorial. XRP is the cryptocurrency that powers the Ripple network. Buying XRP can be broken down into 3 simple steps: Get a wallet, Locate your XRP address and Find a bitcoin exchange that sells XRP.
Depending on the amount of XRP you’re planning to buy, you can choose to store it on either a hardware wallet or a software wallet.
If you’re buying a small amount of XRP, then a free software wallet that can be downloaded to your mobile phone or computer will do. Edge is a great software wallet that is easy to use for beginners. If, on the other hand, you’re planning on accumulating larger amounts, it’s safer to store it on a dedicated device known as a hardware wallet. Our recommendation for a hardware wallet would be either the Ledger Nano X or the TREZOR Model T, both are reputable wallets which can store multiple cryptocurrencies alongside XRP.
One thing to keep in mind is that every XRP wallet requires a non refundable 20 XRP deposit to prevent the creation of fake accounts.
Where to Buy Ripple $XRP
Once you’ve set up your wallet, make sure to find your XRP address, which will be used whenever you want to send XRP to your wallet. Each XRP address is a string of 25-35 characters that starts with an “r”. Finally it’s time to find a place to buy Ripple XRP. Recently it’s been getting harder to find exchanges that list XRP due to some regulatory issues, however CEX.io bitcoin exchange and Binance are two exchanges that will allow you to buy XRP with a variety of payment methods. Both exchanges support many countries worldwide, have a good reputation and supply an instant buying option which is beginner friendly.
If you’re an advanced trader you can use the exchange’s trading platform and save a little more on fees. While exchanges will store coins for you on their site, you’ll want to make sure to withdraw them to your own wallet by sending them to the XRP address we talked about before. This way you keep full control of your coins.
That’s today’s 2 minute tutorial, for a complete list of recommended wallets and exchanges and a more in-depth step by step guide, make sure to check out the entire Crypto Swami website. If you’ve enjoyed this video, make sure to share on social media. You don’t miss a review, news update or the clearest information about Bitcoin and cryptocurrencies anywhere.