Exchanges for buying cryptocurrency can be a bit of a pain—even if you know exactly what you’re looking for, finding the right place to buy can be difficult. With so many options, it’s hard to see whether you’ll get the best deal or if the exchange will be around in six months.
If you’re thinking about getting into crypto and want to buy XRP, you’ve probably already heard about some of the major exchanges that allow you to do so. But which are the best exchanges for buying XRP? In this post, we’ll take a look at some of the top exchanges that are currently available. If you’re interested in buying XRP, this list will help you find the best place to start your investment.
Describe Ripple
Ripple is a cryptocurrency that many people have heard of but may have yet to understand fully. Unlike most other cryptocurrencies, Ripple is a centralized system that doesn’t require mining to create a new currency. It’s also unique because it’s a fiat currency which means it’s not based on anything like gold or silver.
Ripple allows for fast, almost free global payments with very low transaction fees. It’s also rumored to be backed by some central banks like Santandar, which could increase the XRP price over time. So if you’re interested in investing in Ripple, you can trade it on major exchanges like KuCoin, Coinbase, Bitstamp, and Kraken.
What is XRP?
XRP (XRP), or Ripple, is the name of the currency, and it’s also the name of the organization that created XRP. The company was initially called OpenCoin and was founded in 2012 by Chris Larsen, still its CEO. Ryan Fugger, Jed McCaleb, and Arthur Britto were also original co-founders. The company changed its name to Ripple Labs in 2015 and moved from San Francisco to its current location in San Francisco.
The currency was released in 2013 and has been around since 2014. It is one of the top cryptocurrencies, with a market cap of over $20 billion as of 2017. It competes with Ethereum for second place on the list of largest cryptocurrencies behind Bitcoin.
Top Exchanges To Buy XRP
KuCoin
To buy Ripple (XRP) in the KuCoin exchange, you must first buy Bitcoin or Ethereum on another exchange that allows you to trade for XRP. Afterward, transfer your BTC or ETH to KuCoin and exchange it for XRP.
Kucoin is an exchange with a feature-rich platform for all types of traders. A bonus for buying XRP on Kucoin is that it is possible without investing in bitcoin or Ethereum first. Furthermore, KuCoin caters several crypto pairs including XRPUSDT and many others.
E-Toro
If you’re looking to buy XRP, there are several ways to do so. You can buy it on eToro’s exchange, which offers low fees and leveraged trading. You can buy Ripple on the eToro exchange using USD or other crypto assets the site supports. Once you’ve bought some, you can store it in your wallet or leave it on your exchange account to trade with.
Uphold
A San Francisco startup called uphold exchange is taking the online trading world by storm. The platform offers a unique “anything-to-anything” trading experience, enabling users to conduct crypto, equity, and precious metal trades while providing a range of other financial services to a global market. With support for over 80 cryptos, over 20 fiat currencies, and four precious metals, this multi-asset platform is versatile and reliable.
Pionex
Pionex is a cryptocurrency exchange that only accepts XRP as its base currency. This means that there are no deposits or withdrawals to and from the exchange, making it much easier for you to trade XRP without worrying about converting it into a different currency first. Trading at Pionex is quick, easy, and secure, thanks to their support of the most advanced security measures on the market.
Bitstamp
Bitstamp is an exchange for Ripple’s native currency XRP. Bitstamp also supports trading BTC, ETH, and LTC for USD and EUR. It’s an excellent exchange to start with because it’s straightforward to use. You can purchase Bitcoin, Ethereum, or Ripple directly from the exchange via wire transfer and the fees are low. Bitstamp is based in Luxembourg, a country with a solid regulatory framework for financial institutions. This makes it an attractive option for users who want to hold funds securely on an exchange.
Binance
Binance is a very popular exchange for XRP traders. If you are into crypto trading, you probably already know about it or might have already registered to use their platform. Binance offers a fast, secure, and simple way to purchase cryptocurrencies with their trading pair, “BNB.”
XLM, the native currency of the Stellar network, is available to trade on Binance with its XLM Price, which has looked promising over the years.
What Is In Store For Ripple and XRP
People have been debating whether XRP—and the ripple platform, in general—will significantly impact the future of banking. While some people think it will be a failure, others are more optimistic and believe it will work out well for banks. One thing is for sure: XRP has vast potential. This is because of its decentralized nature and the unique way it works.
XRP was created to solve the banking sector’s problem: transaction settlement time. While transactions between banks take days to settle, transactions using XRP take only four seconds.
It is an incredible improvement that could allow faster international transaction processing, saving time and money for both banks and individuals. It also helps eliminate risks such as fraud and duplicate payments, which should increase trust in Ripple’s system.
