What is Ripple (XRP) coin?
The XRP cryptocurrency is sometimes just called Ripple, but there is one major difference between XRP and Ripple. Ripple is a payment protocol developed by the U.S.-based company, Ripple Labs, that provides payment settlement services. The Ripple protocol was released in 2012 and it uses a distributed database, called XRP Ledger, to process international transactions using the XRP cryptocurrency.
Ripple aims to provide more efficient banking services and serve as a trusted agent between financial institutions to facilitate international transactions. XRP was created to be a faster and less costly alternative to existing payment platforms like SWIFT.
XRP transactions are almost instant and charge a relatively small fee. XRP is used as an intermediary to facilitate conversions and acts as a bridge between multiple fiat currencies.
What could be the best way to buy Ripple?
There are numerous ways to buy XRP but using a cryptocurrency exchange is considered one of the most popular and easiest options for both crypto newcomers and established crypto enthusiasts. However, it is recommended to make sure that the platform you choose supports your country and your preferred payment option.
For example, CEX.IO is an ecosystem of various crypto services that is available in more than 99% of countries. Moreover, CEX.IO was one of the first crypto exchanges to introduce purchasing cryptocurrencies using debit and credit cards. CEX.IO users can buy XRP with Visa and Mastercard bank cards via the CEX.IO website or the CEX.IO mobile app.
In addition to using a credit or debit card, you can deposit fiat funds to your CEX.IO balance using international (SWIFT) and domestic (ACH, SEPA, Faster Payments) bank transfers, as well as online wallets (Skrill, Epay). You can find more information about available payment methods on CEX.IO on our Limits and Commissions page.
How to buy Ripple with a debit card instantly on CEX.IO
With CEX.IO, you are not tied to a single payment method or crypto service. CEX.IO offers several options to buy crypto with a debit card, meaning you can always find the one that suits your needs most:
- Instant Buy service
- Trade orders
- Exchange option in the mobile app
Each service has its own features, but if speed and convenience matter most to you, then the Instant Buy service should be your preferred choice. The Instant Buy service was specifically designed to provide an easy and secure way to purchase crypto with a payment card. With the Instant Buy service, you can buy bitcoin instantly, as well as other cryptocurrencies, including XRP. The whole process of buying crypto using the Instant Buy service only takes a few minutes.
Just follow these simple steps to learn how to purchase Ripple coins with USD and other fiat currencies, using the Instant Buy service:
- Select XRP in the dropdown list of cryptocurrencies
- Choose the fiat currency that you want to use for your purchase
- Set the amount you want to buy or pick one of the pre-calculated packs
- Add a new payment card or use a verified card for the transaction
- Make sure that all the transaction details are correct before confirming the transaction
And that’s it! The purchased amount of XRP will be in your CEX.IO balance in seconds.
How to buy Ripple with a credit card in your local currency
At the moment, CEX.IO supports three fiat currencies on the platform — the U.S. Dollar, Euro, Pound sterling. But when it comes to card transactions, you can still use payment cards issued in your local currency to purchase cryptocurrencies. Just make sure that your payment card supports currency conversions and international transactions.
To buy XRP with your local currency, you first need to select the primary currency for the transaction from the list of supported ones. If you use the Instant Buy service, you will select “primary fiat currency” in the dropdown list when you choose the trading pair you want to trade.
After selecting the primary fiat currency and confirming a transaction, your local currency will be converted based on your bank conversion rates. The purchased amount of cryptocurrency will appear in your CEX.IO balance.
You can use this approach not only for purchasing XRP but also to buy Ethereum with a credit card, without needing to deposit funds into your CEX.IO balance in advance.
Should I buy XRP coins?
XRP has established itself as one of the most reconizible cryptocurrencies on the market, holding the top places in terms of market capitalization for many years. It made XRP the popular option among crypto investors. Also, some enthusiasts buy XRP for its fast settlement and low fees compared to other cryptocurrencies and fiat payment options.
But don’t forget that time matters when it comes to crypto investments. If you consider purchasing XRP, then make sure to do your own research towards current market conditions. Like most cryptocurrencies, the XRP price tends to change over time, so entry points can be important, especially if you want to purchase XRP for investments.
How to invest in Ripple and how to use it?
If you want to invest in XRP cryptocurrency, you can just buy and hold it on your CEX.IO balance. A lot of users choose this way since they expect its value can increase over time. In addition to storing crypto, here are some options what you can do with your XRP after purchase:
Trade XRP. If buying XRP is only your first step and you want to benefit from price fluctuations, then you can use CEX.IO for crypto trading. CEX.IO ecosystem provides multiple advanced trading tools, allowing traders to use numerous trading strategies and analyze current market conditions.
- Spend XRP. More and more merchants around the world accept XRP as a payment option, meaning you can use it to pay for different goods and services.
- Send XRP. XPR allows you to transfer value around the globe with low fees and fast settlement. After purchasing XRP on CEX.IO, you can send it to anyone and anywhere in a secure and reasonably-priced way.
How to check XRP prices?
On CEX.IO, you can find multiple crypto-to-fiat and crypto-to-crypto markets for XRP. On the Trade page, you can select one of the XRP markets and you will see the current XRP price indicated in quoted currency. Additionally to market price, you will also find there a price chart, order book, information about trading volume, and other metrics that should be helpful to assess the current market situation.
If you want to check current cryptocurrency prices for all available assets on CEX.IO in one place, then you can use our Prices page.
You can also enable price alerts in the CEX.IO mobile app to receive notifications when the XRP price reaches specified levels.
How to trade XRP on CEX.IO?
If you want to trade XRP, then you should visit the Trade page on the CEX.IO website or go to the Trade Pro section in the CEX.IO mobile app. On CEX.IO, you can trade XRP via market and limit orders.
A market order allows you to buy and sell crypto at the best available price in the order book. It has instant execution, so it can’t be reversed.
A limit order allows you to buy cryptocurrency below the current market price or sell it above the current market price. Limit order is filled when the price reaches a specified level or a matching limit order occurs in the order book. A limit order can be canceled until its full execution.
After selecting the order type, set the amount of XRP you want to buy or sell and place an order. When the order is executed, you find more details about it in trading history on the Finance page.
If you visit the Trade page for the first time, then you will see the BTC to USD market. But you may easily find all available XRP markets using a search field or filtration system.
How to withdraw XRP?
If you want to withdraw XRP using the CEX.IO website, then you need to go to the Finance page. After that, click “Withdrawal” next to the XRP balance, set the amount, destination wallet address, and destination tag.
In the case of using the CEX.IO app, you should go to the Wallet tab. Then select XRP, choose “Withdraw”, enter the amount, destination wallet address, and destination tag.
A destination tag is an address feature that is widely used by XRP wallets. It is necessary to identify a transaction recipient beyond a wallet address. If you are not sure what destination tag you should include in the field, please contact your recipient wallet service to clarify this information.
What are the benefits of using the CEX.IO mobile app to buy XRP?
CEX.IO mobile app is a handy solution to buy and sell cryptocurrencies on the go and get access to your crypto portfolio anywhere anytime. Besides, the CEX.IO mobile app has a few exclusive features that may expand your crypto experience.
For example, you can use an Exchange service that allows you to convert fiat currencies and cryptocurrencies even when there is no direct market available for trading. CEX.IO mobile app also supports the Instant Sell option. With this service, you can sell bitcoin or any other cryptocurrency and withdraw fiat funds to your bank card in a matter of minutes.