If you’re looking to buy XRP in the UK, you may be feeling a little lost right now. It’s challenging to know where to start with all the different exchanges and options available. In this article, we’ll walk you through the process step-by-step and make it as easy as possible for you to get started.
What is XRP (Ripple)?
XRP (Ripple) is a cryptocurrency and payment network created by Ripple Labs Inc. It uses a decentralised consensus process to manage the creation of new units of XRP and verify transactions. Unlike Bitcoin, XRP can be efficiently used as a currency with nominal fees.
With XRP, banks can source liquidity on-demand in real-time, without having to pre-fund nostro accounts. Because XRP is a digital asset, banks can process cross-border payments in seconds instead of days.
XRP can be bought using cryptocurrency exchanges, fiat, and other digital currencies. To buy XRP, you will need to create an account with a cryptocurrency exchange that lists XRPs.
Unlike its major competitors, Bitcoin and Litecoin, Ripple was created by a private, for-profit firm. One hundred billion Ripple was introduced onto the market at the time of its inception.
Ripple Labs has since deposited 55 billion Ripple in an account held to maintain market stability for consumers. Since at least 2014, Ripple has been referred to as a “Bitcoin killer.” However, it has only lately gained traction and acceptance among cryptocurrency enthusiasts.
Ripple’s price has risen dramatically recently, similar to other currencies, yet it is still quite “cheap” in terms of pricing. However, keep in mind that Ripple is under investigation by the Securities and Exchange Commission, and many exchanges have delisted the token. This article lists exchanges that currently allow XRP.
How to Buy Ripple in the UK with GBP — A Quick Guide
Ripple is not “simple” to invest in, as we previously stated. Investing in a base coin, moving your account, and then investing in Ripple (as it’s an alt-coin) take several steps.
If you want to purchase Ripple (XRP) in the UK with British Pounds (GBP), there are a few things you need to know. Here is a quick guide:
- The first step is to find a reputable cryptocurrency exchange that supports XRP and GBP trading pairs. Once you have found an exchange, create an account and verify your identity.
- Once your account is verified, deposit GBP into your account using one of the supported payment methods.
- Now, you can buy Ripple with GBP by following these simple steps:
- Select the currency you want to exchange (in this case, GBP).
- Enter the amount of XRP you want to buy.
- Select your payment method.
- Confirm your transaction.
- Once your order has been filled, you will now own XRP!
How To Buy Ripple (XRP) — Best Brokers
eToro
eToro is a social trading platform that allows you to buy and sell cryptocurrencies, as well as copy the actions of other traders. The platform is regulated in Europe by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK.
You can sign up for an account on eToro by providing your name, email address, and password. After registering for an account, you can deposit funds into it by clicking on “Deposit Funds” in the top right corner. You can then choose from a range of payment methods, including credit or debit cards, bank transfers, and PayPal.
Buy Ripple on eToro by clicking on the “Trade” button on the top menu bar, choosing “Cryptocurrencies” from the drop-down menu, and then selecting Ripple from the list of available cryptocurrencies. You can then enter the amount of Ripple you want to purchase. After that, click on the “Buy” button. Once you’ve bought Ripple, it will be stored in your eToro wallet.
What’s great about eToro is that you can buy Ripple even if you don’t have any cryptocurrency experience. The platform is easy to use and has a user-friendly interface.
Plus, eToro is one of the most reputable cryptocurrency exchanges in the world and is regulated by two of the most respected financial regulators in Europe.
Finally, the fees on eToro are very reasonable, and you can even get a free cryptocurrency trading course when you sign up for an account.
Kraken
Kraken is a San Francisco-based cryptocurrency exchange founded in 2011. It allows users to trade crypto assets such as Bitcoin, Ethereum, Litecoin, and XRP. The UK’s Financial Conduct Authority (FCA) regulates Kraken, so users can securely trade, buy, and sell XRP on the exchange.
Because Kraken offers XRP and nine distinct trading pairs including the cryptocurrency, it has a significant edge over UK exchanges like Coinbase (which recently delisted XRP). Residents of the UK interested in XRP may use a variety of resources to help them build their crypto portfolios, including instructional materials, minimal trading costs, and access to a wide selection of prominent crypto assets and altcoins.
Here’s how to buy XRP on Kraken:
- Create a Kraken account – On their signup page, enter your email address, choose a unique username, and set a secure password.
- Verify your account – Kraken will require you to upload an image of your government-issued ID or passport and a selfie with that document. You’ll also need to provide your full name, date of birth, and country of residence.
- Deposit funds into your account – You can do this by clicking on the “Funding” tab and selecting your currency of choice.
- Buy XRP on Kraken – Once your account is verified and funded, navigate to the “XRP/GBP” trading pair and enter the number of XRP you want to purchase. Then, click on the “Buy XRP” button.
- Withdraw your XRP to a secure wallet – After your purchase is complete, be sure to withdraw your XRP to a safe and secure wallet.
Once you complete your first purchase, look for a wallet that supports the XRP token. Some of the most popular wallets include the Ledger Nano S and the Toast Wallet.
Binance
Third on our list is Binance. Binance was founded in 2017 and is one of the newer exchanges. The platform is quickly gaining in popularity as it offers a great user experience and has very low fees.
To buy Ripple on Binance, you must first create an account. Once you have registered and logged in, click on “Funds” and then “Balances”. You will then need to find Ripple (XRP) in the list and click on “Deposit.”
Afterward, you will be given a deposit address for Ripple. Go to your wallet and send the desired amount of Ripple to this address. It will take a little while for the funds to be reflected in your Binance account, but once they are, you can start trading!
To buy Ripple, click on the “Exchange” tab and find the currency pair you want to trade. In this example, we will use XRP/BTC.
On the right-hand side, you will see the Buy XRP section. Enter the amount of XRP you want to buy and then click on “Buy XRP.”
Binance will then place a market order and purchase Ripple at the best available price.
One of the best features of Binance is that you can use your account to buy other cryptocurrencies. So, if you want to buy Ethereum (ETH), for example, simply find the ETH/BTC pair and follow the same steps.
Finally, it is important to remember that Binance is a cryptocurrency exchange and not a wallet. This means that you are not able to store your Ripple on Binance. Make sure you withdraw your Ripple to a wallet of your choice once you have finished trading.
Best Ways to Buy XRP in the UK
The most common way to buy XRP in the UK is through exchanges. Exchanges are websites or platforms where buyers and sellers trade cryptocurrencies based on current market prices. To buy Ripple on an exchange, you need to create an account and deposit funds into it. You can then use these funds to purchase Ripple.
On the other hand, brokerages are companies that allow investors to buy and sell securities such as stocks and cryptocurrencies. Compared to crypto exchanges, they act as a middleman between buyers and sellers to transact based on prices set by the broker. The process of buying XRP is similar — register and verify your account, deposit funds, and buy your cryptocurrencies.
Brokers are a safer option than exchanges, as they are regulated and audited by financial authorities. In addition, you can use brokers to buy XRP with fiat currencies or other cryptocurrencies, whereas not all exchanges support fiat usage. Nonetheless, crypto exchanges generally offer a wider variety of cryptocurrencies, which can potentially give you a higher reward.
In general, you can buy XRP using fiat, other cryptocurrencies, or a debit or credit card through these platforms. The best payment method for you would depend on your needs, preferences, and fees, among others.
If you are looking for convenience and safety, here are some of the best ways to buy XRP in the UK:
How to Buy Ripple With Debit Card
To buy Ripple with a debit card, you’ll first need to create an account with an exchange that supports XRP. We recommend using Binance, as it’s one of the most reputable exchanges around. Once you’ve created an account, you’ll need to add a payment method. You can add a debit card by clicking on the ‘+’ symbol and following the instructions.
Once your debit card has been added, you can buy Ripple by clicking on the ‘Buy/Sell’ tab and selecting Ripple from the list of cryptocurrencies. You’ll be asked to enter the amount of XRP you want to buy, as well as the price. You can then click on the ‘Buy XRP’ button to complete the transaction.
Now that you’ve purchased Ripple, it’s important to store them in a safe place. We recommend using a wallet that supports XRP, such as Toast or Metamask.
How to Buy Ripple With Credit Card
Another way to buy Ripple is through a credit card. The most popular website for this is eToro. You can buy up to $150 worth of Ripple without verification, but anything over that amount will require you to verify your identity.
You can also use Kraken to buy Ripple with your credit card. The fee for buying Ripple is about 3.75% + €0.25 for credit card purchases.
Compared to other methods, buying Ripple with a credit card is relatively easy. The main downside is that you will have to pay fees, and your purchase will be limited by how much you are willing to spend.
Also, do your own research before buying Ripple with a credit card and ensure that the website you are using has a good reputation. Binance and Kraken are two of the most popular exchanges, and both have been around for a while, so it’s safe to say that they are reliable.
Unlike debit cards, credit cards allow you to borrow money from a lender and then pay that money back over time. This can be helpful if you don’t have the cash on hand to buy Ripple.
However, using credit cards also comes with some risks. If you can’t afford to pay your credit card bill, you could end up with a high-interest rate and late fees. So, be sure that you can afford to pay back any money you borrow. The rule is that you should only invest money you can afford to lose.
How to Buy Ripple With PayPal
Paypal is one of the most popular online payment processors in the world. It is used by millions of people to buy goods and services online.
You can use Paypal to buy Ripple (XRP) on a number of exchanges. Here are some of the most popular ones:
- Bitstamp
- Coinmama
- CEX.IO
- Kraken
- Binance
Using Paypal as your payment method is simple. Just follow these steps:
- Go to an exchange that accepts Paypal and create an account.
- Select Paypal from the list of available payment methods when you deposit funds to your account.
- Buy Ripple using your deposited funds. Select Ripple from the list of cryptocurrencies, enter the amount you want to buy, and click on “Buy.”
- After your purchase is complete, you can withdraw your XRP to a wallet or store them in your exchange account for future use.
You can also buy cryptocurrencies on the PayPal app itself, but available coins are only limited to Bitcoin, Bitcoin Cash, Ethereum, and Litecoin as of the moment.
Buying XRP using PayPal is convenient and fast. However, there are some downsides to using Paypal. Firstly, you can only use it to buy Ripple on a limited number of exchanges. You may also encounter high fees when using PayPal to purchase XRP. In addition, the XRP needs to be stored in a separate wallet.
How to Buy Ripple With Bitcoin
To buy Ripple with Bitcoin, you must first buy the latter (if you don’t have BTC yet). You can buy Bitcoin on a number of exchanges, including eToro, Kraken, and Bitstamp. Once you have your Bitcoin, you need to send it to an exchange that trades Ripple, such as Binance. After depositing your Bitcoin, search for Ripple under the “Exchange” tab, and click on the “Buy” button.
However, it’s worth noting that not all exchanges allow you to buy Ripple with Bitcoin. Some exchanges only allow you to trade Bitcoin for other cryptocurrencies, such as Ethereum or Litecoin. If this is the case, you will need first to purchase one of these cryptocurrencies and then exchange it for Ripple on a different exchange.
Plus, you need to learn essential trading knowledge to buy Ripple. The most basic rule is to buy low and sell high. Check the price of Ripple and make sure to buy at the right time so that you can gain more profit by the end. You can use a number of online tools to help you determine when to enter a trade.
Examples of such tools are CoinMarketCap and TradingView, which allow you to see the latest prices for all cryptocurrencies, as well as their volumes and market caps. You can also use these tools to view how the price of Ripple has changed over time. Plus, they also let you see the price of Ripple in different currencies, such as USD, EUR, and GBP.
Once you have found an exchange that allows you to buy Ripple with Bitcoin, you need to create an account with the exchange. You will need to provide personal information, such as your name and email address, a password, and confirm that you are over 18 years of age.
After creating an account, you will need to verify your identity. You can do this by providing some documentation, such as a scanned copy of your driver’s license or passport. You must also give your date of birth and the last four digits of your social security number.
Once you have verified your identity, you can now deposit some Bitcoin into your account. This can be done by clicking on the “Deposit” tab and selecting Bitcoin from the list of cryptocurrencies. Then, enter the amount of Bitcoin you want to deposit and click on the “Deposit” button.
After that, you will be given a Bitcoin address, which you can use to send your Bitcoin. It will take a few minutes for it to be deposited into your account, but once received, you can now use this Bitcoin to buy Ripple.
FAQ’s
Why Use XRP?
Ripple is a payment network that allows for instant, safe, and low-cost global transactions. XRP can be used to send money around the world quickly and easily. Because XRP is deflationary, there will only ever be a limited number of them in circulation, making it an attractive investment. In addition, it’s been built from the ground up to be a secure payment network, and it has been tested extensively. It is also versatile as it can be used as a bridge currency to facilitate payments between different currencies and networks.
How to store Ripple Safely?
Ripple can be stored in a digital wallet, similar to how Bitcoin is stored. The official Ripple wallet is available on their website. However, there are other popular wallets that you can use, including Toast Wallet and Metamask. You can also use a cold storage wallet to store your Ripple offline. Opting to store via cold storage can be more secure, but it can also be more difficult to access your funds. As with all cryptocurrencies, which are still a relatively new technology, there is always the risk of losing your funds. It is therefore vital to take appropriate precautions when storing your Ripple. For example, make sure to back up your wallet and be careful when selecting an exchange or wallet.
Is XRP a good investment?
Ripple offers a number of benefits over traditional payment methods, such as credit cards and bank transfers. These include:
- Instant transactions: Ripple allows for near-instantaneous transactions, which can be helpful when sending money internationally.
- Low costs: Ripple transactions are often much cheaper than those conducted with traditional payment methods.
- Secure: Ripple has been built from the ground up to be a secure payment network, and it has been tested extensively.
- Global: Ripple is a global payment network that allows for transactions to be conducted between various currencies and networks.
How to sell Ripple?
You can sell Ripple on several exchanges, the most popular of which include Bitstamp, Kraken, and Gatehub. To sell Ripple, you will need to create a sell order on the exchange by entering the amount of Ripple you wish to sell and your chosen price. The order form will also ask for your wallet address to deposit the exchanged XRP into your account. Alternatively, you can also sell your Ripple for cash by selling it to a friend or family member. Finally, you can also use a peer-to-peer exchange such as LocalBitcoins to sell your ripple for Bitcoin.