How To Buy Ripple (XRP): Quick Guide
DISCLAIMER: None of the following content is intended to be investment advise. I am not a financial advisor, I am just solely explaining what has worked well for me and my opinions. Also, full disclosure, my links to Coinbase & Binance etc., include referrals. It actually benefits you to use them because we will both get an extra $10 worth of Bitcoin for free if you deposit $100 or more to Coinbase. Thank you in advance if you choose to use my links when you make your accounts. Even if you don’t , I hope this guide helps you out! I respond to comments daily so if you have a question and or questions please feel free to comment at the bottom of this page. Thanks.
A Little About Ripple (XRP) — What Is It?
A lot of people think Bitcoin is the only Cryptocurrency, but a quick search on the internet reveals tons of Altcoins and more being created every week. Ripple stands out to me more becuase its one of the Altcoins that is being accepted by existing financial institutions.
Ripple is known as the “fast transfer money network”. It has gained mass popularity due to acceptance by financial institutions, as the go to Cryptocurrency — due to its low fees, and fast transactions. Ripple is very established compared to other Altcoins being traded, and is also ranked #3 for market cap at the time of writing.
Aside from that if your reading this your here to learn how to buy Ripple so lets get into that right now. (You can read more about Ripple on their website.)
Buying Ripple (XRP): Basic Strategy
- Create a Coinbase account. I recommend CoinBase becuase they are very well known and trusted. Think of them as the PayPal of the Crypto world. You can sign up by clicking HERE.
- Purchase some Ethereum (ETH), I use this currency because at the the time of writing this transfers the fastest and cheapest out of all the coins CoinBase offers.
- Create and sign into a Binance account. I recommend Binance because they have been the all in one exchange for me and they offer lots of lesser known coins that other exchanges don’t have. Another reason the exchange is so popular is that you can withdraw up to 2 BTC/ day worth of funds with no verification at all. Note: Binance occasionally does not allow new users to sign up for there platform to upgrade there infrastructure due to being swamped with new users. Sign up by clicking HERE while registrations are open.
- Move your ETH from Coinbase to Binance. Once your transfer is complete you can now easily use the Binance exchange to buy as much or as little Ripple as you want.
For users that are experienced with cryptocurrency trading you can most likely stop here. The rest of this guide is going to go more in depth and more in detail. If your new and are a little lost fear not, you won’t be by the time you finish this guide. I’ll go step by step:
Buying Ripple (XRP): In Depth Strategy ( Beginners)
Step 1: Buying ETH on Coinbase:
The first step to beginning your crypto journey is purchasing some Ethereum (ETH) from Coinbase. After you Sign Up and create an account you will be prompted to set up Google Authentication as an extra layer of security to protect your investments. Go ahead and set that up as well.
After you have set up those two things go ahead and click buy and sell in the top left corner of your Coinbase account. You will see a page like the picture shown above. Here what you want to do is click the coin you want to buy in this case were buying Ethereum. After you select the coin go ahead and fill out your payment method either a debit card or a bank account either will do. For the amount, type in the dollar amount USD you wish to purchase and it will automatically convert it into the amount of ETH you will be purchasing. Then go ahead and click the blue button to Buy Ethereum Instantly. Thats all for step one.
Step 2: Creating Your Binance Account
The next thing we are going to do is create a Binance account. You can simply follow the Link to sign up or click HERE. Note: Create your account with a strong password (this should be different from your Coinbase password. Also I highly recommend you also set up Google Authentication, this protects your account further then a password.
Once you have created both of those accounts you want to go to your Binance account and click deposits and withdraws under funds in the top right corner.
After you that you then want to find the coin you have purchased from Coinbase in this case we have purchased ETH, and press deposit right next to it.
It will then give you a deposit address (mine was blacked out for privacy) copy that and go back to your Coinbase account.
Step 3: Sending Your Ethereum (ETH) To Your Binance Account
You then want click accounts on your Coinbase account and press SEND next to ETH wallet. Under Recipient you will paste that address you got from your Binance account enter the amount you wish to send and press continue. It will then Transfer your Ethereum to your Binance account. Note: It may take 2–3 mins to show up in your account. You can view your balance under funds.
Step 4: Buying Your Coins!
Finally the hard part is out of the way. The last step is to return to your Binance account and in the top right corner press Exchange. This will take you to a screen like the one shown in the picture above. Next to the search bar you want to click ETH which will be what you buy Altcoins with. Simply search the coin your looking for and place a buy order when your ready! Hope this guide helped you out a little.
If you still have questions please leave a comment below. (I check and reply to them daily)
If you did enjoy this guide make sure to give it a clap! It motivates me to make more for you guys!
