Last update: Jun 6, 2022

How to Buy Ripple (XRP)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Ripple. Depending on where you’re based, you’ll have a few cryptocurrency exchanges to choose from.

In this guide, we not only cover the top 3 global cryptocurrency exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Ripple

How to Buy Ripple – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Ripple of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency exchanges.

4. Buy Ripple

Now that you have what you need to buy Ripple, head over to the market or buy section of the cryptocurrency trading platform and buy some XRP.

If the crypto exchange doesn’t have any Ripple on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Ripple first), and trade your Ethereum for Ripple.

Where to Buy Ripple (XRP)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Ripple

  1. Sign into the cryptocurrency exchange where you bought Ripple.
  2. Move your Ripple to the right place on the crypto exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Ripple.

 

Crypto trading

How to Buy Ripple (XRP) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Ripple in Australia, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Ripple if it’s available. If the exchange doesn’t have Ripple. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Ripple), and trade your ETH for Ripple.

If you’d like to know more about which exchanges we recommend, look at our comparison of the Australian cryptocurrency exchanges.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Ripple (XRP) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Ripple in Canada, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Ripple if it’s available. If the exchange doesn’t have Ripple. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Ripple), and trade your ETH for Ripple.

Or, if you’d like to learn more about the exchanges we like, check our comparison of the places where to buy cryptocurrency in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Ripple (XRP) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Ripple in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Ripple if it’s available. If the exchange doesn’t have Ripple. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Ripple), and trade your ETH for Ripple.

Or, if you’d like to learn more about the exchanges we like, check our comparison of the best cryptocurrency brokers in the UK.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Ripple? XRP Rundown

XRP, the native cryptocurrency of Ripple Labs Inc's cryptocurrency payment system, is Ripple Labs Inc's cryptocurrency payment system. XRP, its "digital asset designed for global payments," would allow users send money at a very affordable cost. This could attract the attention of both banks and retail customers. Ripple's key selling point is its low transaction costs and fast transaction processing.

Jed McCaleb, Chris Larsen, and Jed McCaleb founded the company in 2012. It is based on Ryan Fugger's work which created the XRP Ledger. The XRP Ledger, an open-source cryptographic leadger, is powered by a peer to peer network of nodes. McCaleb left Ripple to create Stellar, a payments-oriented cryptocurrency.

The company changed its name from OpenCoin to Ripple and began to pursue high-level partnerships such as with Santander, Bank of America, and Standard Chartered.

Ripple offers a more cost-effective and efficient alternative to the Society for Worldwide Interbank Financial Telecommunications System (SWIFT), which processes international transactions. This should happen through the Internet of Value. It is the umbrella term that covers several of Ripple’s products: RippleNet and RippleX.

RippleNet allows financial institutions to send money faster and at lower costs than traditional systems. RippleNet only requires one API to connect. RippleNet also provides On-Demand Liquidity, which eliminates the need to pre-fund cross-border transactions. It acts as a mediator between transacting parties, and smooths out liquidity among foreign currencies. A European retailer might not want to receive US dollars, and vice versa. ODL intervenes and uses XRP to facilitate the transaction.

XRP Ledger, Ripple's open source blockchain, uses the XRP currency as its native asset. Although it is independent of Ripple, Ripple can use it for different purposes. Although not as well-known as other blockchains the XRP Ledger is still a settlement layer.

Unlike Ethereum, the XRP Ledger doesn't use a proof of work consensus mechanism. It does not use a proof-of stake consensus mechanism, as many other cryptocurrency. It uses the XRP Ledger Consensus Protocol instead. This is a more centralized and efficient way to reduce transaction cost and finality time. Transactions can be completed in seconds with the XRP Ledger. This is much faster than traditional systems like SWIFT or Bitcoin's ten-minute block times.

RippleX, a platform that offers blockchain solutions for projects that provide payment-oriented services, is finally available. Companies don't have to create their own DApps or blockchain solutions. Instead, they can use the RippleX expertise and the XRP Ledger products to offer mainstream compatibility and a more engaging user experience. Two protocols have been launched on RippleX so far: Interledger, which provides compatibility between various payment systems, and PayString that simplifies the processing of payment addresses.

Ripple offers a natural value proposition for cross-border payment, which has been insufficiently solved by other protocols. According to Ripple, Ripple could be a viable alternative to SWIFT due to its speed and efficiency.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.