The SEC lawsuit is ongoing, despite the recent decision by the judge that its sales to consumers were not securities violations. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. While Bitcoin transactions can take minutes or more than an hour, the advantage of XRP is that its transactions are confirmed every three to five seconds. You’ll be directed to the confirmation screen after the order has been processed. You can create a Coinbase account by visiting the Coinbase website or downloading the Coinbase app.
Where to Buy Ripple (XRP)
XRP is a cryptocurrency that can be used as a payment method or as a way to speculate on price movements. When deciding on a wallet for your cryptocurrency, it’s important to check that it will work with the XRP network, as well as the exchange you plan to use. Once you’ve confirmed they’re compatible, you have a choice of two kinds of wallets. Keeping your tokens on the exchange is a good idea if you want to trade XRP over the short term. However, if you had a long-term outlook, migrating your assets to a software or hardware wallet would be ideal to provide increased security and control over your tokens.
Our partners cannot pay us to guarantee favorable reviews of their products or services. Before making your purchase, research which trading platform suits you best based on security and ease of use. Since December 2020, Ripple has been defending its XRP token against the U.S. Securities and Exchange Commission (SEC), how do tangible and intangible assets differ which has claimed that the token constitutes an unregistered security. Both types of exchanges provide unique advantages and disadvantages; however, beginners are recommended to start on CEXs because of their simplicity and usability. Some of the top CEXs include Coinbase, Robinhood, eToro and Kraken.
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XRP has a loyal following which helped it reach an all-time-high price of $3.40 in January 2018. The next step is to search for XRP on Coinbase to proceed with the buying process. In case you are using Coinbase website, select Buy & Sell option, and search for XRP on the panel. Or if you are using its mobile application, click on the “Buy” option and search for XRP on the search bar. If you are also looking to benefit from the upcoming price surges of XRP, buying it at a low price can be a good option.
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There are several different order types that you can make on the spot market. Most exchanges let you buy as little as $5 worth of XRP, if not less. Just type in how much you want to spend in USD and let the exchange work out the rest. Don’t worry too much about extra features or coins for now – you can always sign up with another exchange later. If you’re ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Ripple in the US.
- To create an account with your chosen crypto platform, you only need an email address or mobile number.
- The whole industry is awaiting its final verdict and it has its next hearing in 2024.
- However, if you had a long-term outlook, migrating your assets to a software or hardware wallet would be ideal to provide increased security and control over your tokens.
- Ripple seeks to become the trusted third party allowing entities, regardless of size and spatial location, to transact swiftly and securely.
Step 2: Add a Payment Method
This bureau safeguards the US financial system by working to prevent money laundering, terrorist-financing activity and other financial crimes. Users can search for crypto ATMs that support XRP and other cryptocurrencies on websites that aggregate ATM locations worldwide, such as ATMlocator, Coin ATM Radar, CoinATMs, and CoinMap. The value of any cryptocurrency can change quickly, and that’s been the story with XRP, as well. If you decide to move forward with an XRP purchase, it’s good to consider its likelihood of long-term growth. An interesting caveat is that dedicated XRP wallets require you to hold at least 10 XRP to activate your wallet on the XRP Ledger. Fees are variable, as they are calculated at the time you place your order.
XRP in the Digital Economy
NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance. Gianluca Miller’s crypto journey started in 2019 when he sought alternative assets to diversify his investment portfolio. With a keen interest in innovative technologies, he became increasingly involved in Web3 through trading crypto and participating in DeFi protocols. Over the last few years, he has become a blockchain evangelist, fascinated with the tech’s utility and impactability.
Step 3. Purchase XRP
A federal judge ruled in July of 2023 that Ripple’s sale of XRP on crypto exchanges was not an unregistered sale of securities. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
The XRP Ledger is a distributed platform on a blockchain with a native cryptocurrency, XRP. It serves as a decentralized market for XRP trading between users. The ledger and its cryptocurrency, XRP, are primarily intended to function as a form of settlement for cross-border finance, but XRP is also a widely recognized and traded cryptocurrency.
Coinbase accepts debit cards, ACH deposits, wire transfers, Apple Pay and Google Pay, allowing you to buy cryptocurrency easily. After purchasing, you will see your tokens in the assets section of the application. After deciding what exchange you want to trade on and if you wish to use a wallet, you are ready to purchase XRP. If using a CEX like Coinbase or Robinhood, type in the ticker XRP or Ripple in the trade or search menu and select it. After confirming the amount of XRP you would like to purchase, you can transfer funds in a few ways.