How and where to buy/sell Ripple in 2020: 3 easy steps to trade XRP

Are you interested in how to buy Ripple (XRP)? If the Bitcoin is used by the end customer for the payment transfer, Ripple is a technology.

Ripple can very well be described as an enterprise project – a distinction from the cryptocurrency Bitcoin is thus quite clear. If the Bitcoin is used by the end customer for the payment transfer, Ripple is a technology running in the background. This means that the user sometimes does not even notice that Ripple is used. The project is primarily aimed at large payment service providers such as institutions and also banks.

The available infrastructure is particularly interesting: 1,500 transactions can be carried out within one second – which means that the transaction capacity processed by the network is higher than that of Bitcoin or other block chain projects. Thus, the claim that Ripple is fit for the future can certainly be made – one seems to have an advantage over Bitcoin that should not be underestimated.

For those in a hurry: Ripple (XRP) CFDs trade in three steps (Buy Ripple Fast)

Before you can buy XRP, the first step is to create an account with a trading platform that supports the currency. Our choice is eToro. Here, opening an account is particularly easy and doesn’t even require verification for trades up to $2,000. Furthermore the provider is state-regulated and therefore subject to deposit protection.

To open an account you just need to enter your personal details in the login form on the start page.

Now you will receive an email from eToro with a link that you need to confirm. Then you’re ready to buy Ripple.

To top up your trading account with real money you have to click on the “Deposit money” button at the bottom left. This will open a window where you can select the desired payment method, such as instant bank transfer.

Depending on the chosen method, the payment can now be made and the trading account can be topped up.

If the deposit was successful, the new account balance is now displayed at the bottom of the screen.

With it now the desired currency, in this case XRP CFDs, can be bought. The easiest way is to enter the currency in the search field and thus find it. Now in the purchase field the desired adjustments can be made. Here it is also determined for how many Ripple you want to buy.

If you do not want to trade real Ripple but rather CFDs, these can also be found via the search field. But here the tip: CFDs are rather something for experienced investors, because the risk of loss is considerably higher here.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

What is Ripple (XRP)?

Ripple is not only the name for a crypto currency, but for a whole payment network. The aim of Ripple is to make payment transactions between banks, institutions and payment service providers faster and cheaper, especially between different currency areas. Due to its proximity to traditional financial institutions, Ripple is often referred to as “Bitcoin for banks”. Unlike other crypto currencies, which are an alternative to the common banking system, Ripple works with them.

The Ripple network is based on an open source protocol. This network enables banks and payment service providers to exchange any kind of currency among each other. The Ripple crypto currency (XRP) fulfils the function of a promissory note that can be exchanged for other currencies.

The technology behind Ripple

Via the ripple network it is possible to transmit various types of values. In the protocol there is also a component that allows you to exchange various currencies. The universality of this protocol even makes it possible to exchange the collected airline bonus miles for Bitcoin – Ripple is thus much more than a traditional crypto currency.

In the Ripple network, it is therefore possible to exchange currencies of various types. In order for such transactions to be carried out, however, the parties involved must have mutual trust in each other. If Mr A sends a Bitcoin to Mrs B, it does not necessarily have to have a coin of the digital currency – the transaction can also be carried out in US dollars, for example. The gateway, which in this case would be person C, takes on the role of trust in this case.

The current rate

How to buy/sell Ripple (XRP)?

If you want to purchase genuine XRP Coins, you should look for a suitable crypto exchange. If you prefer to bet on XRP CFDs, a reputable online broker will help you.

In both cases, you should pay attention to the transparency of the offer and the seriousness of the provider. The crypto market is booming and new offers appear on the market almost daily. For newcomers it can be quite difficult to keep track of the large offer. Unfortunately there are many fraudulent offers and scams among the many really good exchanges and brokers. For your own safety, it is important to research thoroughly before investing, what you should look out for when making your choice and what possibilities the various offers should offer you, you will find out now.

Differences between Ripple CFD brokers and stock exchanges

CFD brokers

Stock exchanges

  • Regulated by government & depositor protection
  • No complicated setup of a wallet necessary
  • Leveraged trading possible
  • Several deposit and withdrawal options
  • Mobile Trading: Apps for Android & iOS available
  • Demo account
  • Only possession of a certificate, not Ripple (XRP)
  • Obligation could raise to make additional contributions
  • Risky investment
  • Real ownership of genuine XRP
  • Learning how to handle crypto currencies
  • (Partial) trading via leverage possible
  • (Partial) Mobile Trading: Apps for Android & iOS
  • Wide range of crypto currencies on offer
  • Whoever wants to hold XRP in the long term has an advantage here in terms of fees
  • No regulation & deposit insurance
  • You are responsible for the administration of the keys yourself
  • Risky investment

The difference between real Ripple (XRP) and Ripple CFDs

Since there are two ways to buy XRP, there are therefore also two different types of Ripple investments:

  1. Brokers trade Ripple CFDs, as financial instruments that use the XRP price as a basis
  2. With stock exchanges, one trades with “real” Ripple

Benefits to use a Broker

Functionality: When you buy Ripple CFDs, you bet on the performance of the coins and do not receive any real coins. You do not own this crypto-currency in its physical-digital form, but rather deal with the price development. You can imagine the whole thing like this: If the XRP price rises or falls, your CFD also rises or falls. You can choose the XRP price in a 1:1 ratio or work with a lever.

Leverage: For example, if you use a leverage of 10, then your CFD rises and falls 10 times as much as the actual XRP price. This has the advantage that your profit is also 10 times as high. The disadvantage is that this CFD leverage is also associated with great risks.

If you do not cope with price fluctuations and excitement so well, the CFDs are perhaps not the right investment for you. You can also use CFDs at Plus500.

Top 3 Broker to buy/sell Ripple CFDs

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✔ Our first choice for crypto broker 
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✔ 2000+ trade products
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Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 76.4% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro - buy crypto currencies with award winning trading platform
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✔ Award winning trading platform
✔ Regulated by FCA, CySec 
✔ 11 payment methods
✔ Social trading and copy trading

Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 66% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

4/5

✔ Broker since 1997 and 2.2M customers 
✔ Regulated by CySec 
✔ 213 tradeable assets
✔ no spreads, but transaction fee

Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 83% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How stock exchanges work

Ripple Coins: Buying Ripple coins has the great advantage that you can hope to increase the value of the currency here. If XRP is developing as rapidly as Bitcoin, an investment could definitely be worthwhile at this point in time. Because at the moment prices are low and hopes are high. To store your coins safely, you need a wallet. When choosing your wallet, make sure you choose a reputable provider.

Crypto bots: this way you can see XRP coins as a long-term investment or you can sell them on at the next possible high, i.e. actively trade them. Here too, there are opportunities for profits. You can also leave trading to a crypto bot. These crypto trading robots are becoming increasingly popular on the crypto scene because they take over trading fully automatically. The disadvantage is that you do not have to do the trading yourself and trading crypto currencies can be quite exciting!

Top 3 stock exchanges to buy/sell Ripple

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✔ High liquidity and low fees
✔ Secure Asset Fund for Users
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✔ High liquidity and low fees
✔ Many possibilities for trading
✔ Deposit via VISA, MasterCard
✔ Smartphone app available

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✔ Best known US Bitcoin exchange
✔ Emoney license in UK and US 
✔ Deposit via VISA, MasterCard, SEPA
✔ no spreads, but transaction fee

What happens after the Ripple purchase?

Especially as a newcomer to the world of crypto, you may wonder what happens after buying digital currency. This is how it continues:

The storage of genuine Ripple

If you have bought coins, you need, as already mentioned, a digital wallet. If you have already opened an account at a so-called crypto exchange, you also have such a storage facility – but if you do not have an account at an exchange, you have to look for a wallet provider.

The problem here is that the private key with which the wallet is controlled remains in the possession of the exchange. This means that there is actually a small security risk here. Even if today’s stock exchanges are all at the cutting edge of security technology, this does not mean that a hacker cannot succeed in getting hold of the private key.

The sale of your genuine Ripple coins or Ripple CFDs

If you want to sell your coins because the price has risen, they can be offered on an exchange at any time. Due to the fact that you don’t have to offer your coins on the exchange where you bought them, you can compare fees in advance. The fees charged by the exchanges differ greatly, so it is advisable to get an overview in advance.

Ripple (XRP) - The conclusion

Ripple Labs has been able to introduce numerous new banks as cooperation partners in recent months, and more and more are being added. Already Ripple Labs partners include Santander, UBS, UniCredit, Bank of America Merrill Lynch, BBVA in Spain (second largest bank in Spain), Mitsubishi UFG in Japan (largest bank in Japan), Akbank in Turkey, SEB in Sweden and Axis Bank and Yes Bank, both in India. In total, to our knowledge, Ripple has 75 banks as customers at the time of this article.

In our opinion, the ever-increasing number of cooperation partners, especially banks, shows the great interest in Ripple technology. The banking industry has recognized that Bitcoin and Ethereum could mean a revolution in financial management. The Ripple technology could herald a revolution on the part of banks.

If you want to buy XRP, it’s relatively easy as fast as possible – even a beginner, who hasn’t been interested in the topic so far, will probably have no problems. Due to the fact that there are different possibilities as well as platforms, you can make a comparison in advance and answer the question for yourself, which possibility seems to be especially attractive.

Even if Ripple is not yet as well known as Bitcoin or Litecoin, this does not mean that there is no chance of winning. And then, as was the case with Bitcoin or other digital currencies, anything is possible.

Frequently asked questions about how to buy Ripple

In 2004 the developer Ryan Fugger had the idea for Ripple, a decentralized monetary system. In 2011 he developed the first version of the technology, called RipplePay.com. At the same time, Jed McCaleb began working on a crypto-currency in which transactions are verified through the network and not through mining as in Bitcoin. In 2012 McCaleb merged with Fugger and together they founded OpenCoin. OpenCoin developed the Ripple protocol. It was later renamed Ripple Labs. Today Ripple Labs is responsible for the development of Ripple.

Ripple is a universally usable crypto currency for banks, payment service providers and financial institutions. The network handles 1,500 transactions per second. The transactions are recorded forgery-proof. Apart from its own crypto currency, Ripple Labs offers many other solutions for banks and payment service providers that are independent of XRP. There are numerous cooperations with financial institutions and companies.

One of the disadvantages is the high degree of centralization. The majority of XRP is still in the hands of Ripple Labs. In addition, there are only a small number of validators that confirm transactions. Ripple is not suitable as a means of payment like Bitcoin, e.g. for online shops, and the crypto currency does not fulfill useful additional functions like Ethereum and other tokens. In addition, XRP is actually not necessary to use the protocol. Instead, banks can develop their own digital currencies for it.

If you are toying with the idea of investing your money in XRP, you will ask yourself at the beginning how secure the trade is at all. At this point it must be said that the market is extremely volatile – price jumps are simply part of it. This means that the price can rise or fall 15 percent overnight.

If you want to invest your money in crypto-currencies, especially in stellar lumens, you will need nerves of steel. It’s also important to follow the news and watch the markets – in other words, to see how they react to various events.

In order to buy Ripple, you must register with a stock exchange or broker, so registration is obligatory.

Despite the great predictions for the crypto world, you should not forget that investing in cryptocurrencies involves a high risk. The high volatility does not exist in any other speculative investment objects. Although the XRP share price seems to be quite stable, even inconspicuous news can have a quite strong influence on the performance. The crypto market is sensitive, yet more and more people are abandoning conventional investments and prefer to invest in the promising crypto currencies.

Only you can decide whether or not you want to buy EOS.

Ripple is not one of the top crypto currencies for nothing, considering its market capitalization. For years, it has held third place behind Ethereum and Bitcoin. The company, Ripple Labs, has many partnerships and cooperations. Ripple could serve as a basis for global transactions in the future. At the same time, however, there is the possibility that Ripple Labs will distance itself from its crypto-currency. The crypto-community often criticizes the company for various business practices and the high centralization of the crypto-currency. In contrast, it seems rather unlikely that Ripple will lose its position as number 3 in the foreseeable future. Have we aroused your interest? Then take a look at these reputable providers if you want to invest in Ripple.

Best Broker

Safe Crypto Trading

✔ Extensive trading platform: choice between real coins and CFDs

✔ Depositor protection: No risk of loss in case of hacks or bankruptcy

✔ Diverse deposit options: Bank transfer, credit card, PayPal, Skrill etc.

eToro is a multi-asset platform offering CFD and non-CFD products. 66% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Disclaimer All content on our website is for information purposes only and does not constitute a recommendation to buy or sell. This applies to assets as well as products, services and other investments. The opinions expressed on this site do not constitute investment advice and independent financial advice should be sought whenever possible. This website is not intended for use in jurisdictions where the trading or investment described is prohibited and should only be used by persons and in a manner permitted by law. Your investment may not be eligible for investor protection in your country or country of residence. You should therefore carry out your own due diligence. This website is available to you free of charge, but we may receive commissions from the companies we offer on this website.
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