Ripple is now the second cryptocurrency in the coinmarketcap.
In 2019, a Ripple was worth around $0.20, but now, it’s worth more than $3.25 per coin, and still continuing to rise. It’s important to note that Ripple is the company, while XRP is the coin, but most people simply call it Ripple.
Ripple (XRP) is a different than many other popular cryptocurrencies, because it was created by a private-for-profit company.
This company wanted to enable a frictionless way to send money globally, and it’s coin Ripple is exactly the way. This company is also the largest holder of Ripple today.
The problem now is, Ripple isn’t the easiest crypto currency to buy.
It requires some additional steps compared to investing in Litecoin or Ethereum. But am going to break it down and show you how to buy and invest in Ripple.
If you want to get a head start, investing in Ripple will require a few things:
- Secured cryptocurrency wallet – The most secured to use are Hardware wallets, and the latest in the market is Ledger Nano X.
- A reliable exchange – Binance (best exchange) is the most recommended platform to buy XRP coin easily. Read the review here.
What is Ripple XRP?
Ripple is originally a platform designed to replace bank payment processing and protocols, and that allows global transactions using it’s coin, XRP.
It’s global payment network was started in 2012, and has continued to grow as companies have adopted it, and currency speculators have taken interest in Ripple.
Ripple uses a blockchain ledger similar to Bitcoin and other cryptocurrencies, but it also has some technical differences that claim to make processing of transactions easier, and faster while remaining secure.
How to invest in Ripple
As of 2020, you can now simply just open a Binance account and buy Ripple (XRP Coin) directly on the platform.
As I mentioned earlier, Ripple cryptocurrency is not “easy” to invest in.
Meanwhile, there are rumours that Coinbase will be adding support for Ripple in the near future.
If that happens, you can likely expect the price of Ripple to increase substantially as new investors will easily be able to purchase the currency.
However, you need to follow a strict process for now to buy Ripple (XRP) coin.
1. Get a secure crypto wallet
Before you start thinking of buying XRP coin as an investment asset, you must have gotten a secured Ripple crypto wallet, which I mostly recommend hardware wallet due to the HD (Heuristic Deterministic) feature.
If you have enough fund to invest in the security of your cryptocurrency investment, I would recommend you purchase Ledger Nano X hardware wallet, as it’s the most recent and secured crypto wallet in the market.
Once you’ve gotten through this stage, you can then proceed to the next step below.
2. Buy Ripple on CoinSwitch
You don’t really need to create any account for you to buy Ripple on CoinSwitch exchange aggregator platform.
It’s very easy to do once you visit the platform. You simply enter select the XRP coin from the homepage, follow by the amount you to buy in you desired currency (i.e. USD or EUR).
On the next page, you will be asked to input both the wallet address and tag of the crypto wallet you will use to store Ripple coin after buying it.
Once the wallet address is specified, you can make payment with your credit/debit card, which Indacoin and Simplex is their payment processors respectively.
To understand more about this aggregator platform works, please my detailed review on coinswitch exchange.
FAQ
I will try my best to answer some of the frequently asked questions online, so you will be well rooted on how to invest in Ripple XRP cryptocurrency.
Should I invest in Ripple?
Yes of course! You never know, Ripple could skyrocket as high as Bitcoin is today, and you might be thanking yourself in several years.
Is Ripple Worth Buying as Good Investment?
Since Ripple company as a whole is on the mission to eliminate the long bank sluggish protocol using the XRP coin, I will say that this crypto project will definitely improve in value as investors comes for it in the nearest future.
Final Thoughts on XRP investment
Just like any crypto-coin in the market, there is a high degree of risk involved. But, given the low price point, it does have possibility for a high return with low entry barrier.
If you don’t like the idea of having to go through all of these steps, there is no other simpler way to buy Ripple yet. However, Binance is yet another platform, where you can simply buy any amount of Ripple coin.
All the same, I strongly recommend not leaving your cryptocurrency investment on an exchange platform for long, because you risk loosing it to either hackers.
