Want to jump straight to the answer? You can buy XRP on Coinbase, Kraken and Robinhood.
Cryptocurrency projects like Bitcoin and Litecoin were originally created to offer consumers a faster way to transfer money without paying the fees associated with using big bank transfer systems. Not every cryptocurrency developer wants to steer away from traditional banks, however.
Ripple (XRP) is a decentralized payment protocol created to be used by major banking institutions. Ripple operates RippleNet, a real-time gross settlement system that enables instant monetary transfers. As a comparison, transfers using Bitcoin take about 10 minutes to close. Ripple’s development team hopes that widespread adoption of the technology can empower financial institutions to pass on faster transfer speeds and more efficient pricing down to their clients.
If you’re interested in learning more about how you can add Ripple to your portfolio, use our guide to get started.
Step 1: Open an Online Account.
Before you can buy Ripple, you’ll need to open an account with a cryptocurrency broker. A cryptocurrency broker is an online service that you can use to buy and sell cryptocurrencies through a trading platform. Cryptocurrency brokers make it easier and safer to access the crypto market.
As among the largest cryptocurrencies when measured by market capitalization, there are dozens of brokers offering access to Ripple investing. Here are a few characteristics you might want to consider when you choose where you’d like to open an account:
- Coin support: There are thousands of cryptocurrencies for sale and no single broker will offer you access to all of them. If you want to invest in additional coins beyond Ripple, be sure that you choose a broker that offers support for the projects you’re interested in.
- Commissions and fees: Most cryptocurrency brokers charge a commission or fee each time you buy or sell a cryptocurrency using their platform. Be sure to consider fee and commission schedules before you open an account — especially if you plan on investing frequently.
- Trading platform: If you’re a new investor, you might want to focus on opening an account with a broker that specializes in providing a straightforward ordering process. If you’re a more advanced investor who values charting and analysis tools, look for a broker marketing their trading platform to more advanced investors who rely on these types of tools.
- Mobile trading: Not every cryptocurrency broker offers a mobile trading app. If mobile trading is important to you, be sure to check and see if the broker you choose supports mobile investing and if the app is currently available for the type of device that you own.
Not sure where to begin your search? Consider a few of our favorite crypto brokers below.
Commissions
0.50% per sale
Coinbase
Coinbase is among the most popular cryptocurrency trading platforms online, with over 35 million customers supported in over 100 countries. Coinbase can be an excellent option for investors who are new to the market and who want a platform that focuses on simple order placements. Most users will be able to open their Coinbase account in just a few minutes, and you can place an order by filling out a simple form.
Coinbase also offers a unique “Earn” feature that allows you to earn cryptocurrency by watching videos on the functionality of select coins. After completing the video, you’ll answer a few quick questions — and you’ll be rewarded with crypto for each correct answer.
Step 2: Buy a Wallet.
After you’ve opened a brokerage account, it’s a good idea to invest in a hardware wallet to store your cryptocurrency. A hardware wallet (sometimes referred to as a “cold storage” wallet) is a physical device that stores your coins using a set of private keys in an offline account. Cold storage wallets provide a higher level of security and safety than “hot storage” wallets, which require an internet connection to access your holdings.
We recommend storing your coins in an offline hardware wallet. If you aren’t sure where to start shopping, consider a few of our favorite options from Amazon below.
Best Overall: Ledger Nano X
Among the most popular cold storage options on the market, the Ledger Nano X provides you with a high level of security and customization to store your coins. The Nano X supports a wide range of both coins and applications, and you can install up to 100 applications on a single device.
The Nano X also allows you to connect with your desktop or mobile phone using Bluetooth to access the cryptocurrency market directly. This can make it easier for regular investors to buy and sell their coins without forgetting to initiate a transfer to their wallets.
Best for Travel: SecuX W20
SecuX W20 – Most Secure Crypto Hardware Wallet w/ Bluetooth – Large Touchscreen – Easily Manage Your Bitcoin, Ethereum, Ripple, BTC, ETH, LTC, BCH, DGB, Dash, BNB, Doge, XLM and More
$99.00
(as of February 5, 2021 – More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
If you’re searching for a convenient way to manage your cryptocurrency holdings on-the-go, be sure to consider investing in the SecuX W20. The SecuX W20 wallet supports a wide range of cryptocurrencies, including Ripple, Bitcoin, Ethereum and any ERC-20 token. This wallet also includes a bright touch screen that you can use to view and track your crypto holdings without connecting to a laptop or mobile device.
Step 3: Make Your Purchase.
After you’ve opened your account and set up your hardware wallet, it’s time to purchase your 1st round of Ripple. Open your broker’s trading platform and review the steps you’ll need to go through to place a buy order. Depending on your broker, you might be able to place multiple types of buy orders, which can give you more control over the price you pay per coin and when your order is executed. If this is your 1st time placing an order through your broker, you may need to verify your payment method before you can access full trading capabilities.
After you place your order, sit back and relax — your broker will scan the market and automatically execute your order once the conditions specified in your order are met. The amount of time that it will take to complete your order will vary based on a number of factors, including the type of order you placed, the coin you’re buying, current market conditions and much more. When your order is filled, you’ll see the coins in your brokerage account, and your broker might send you an email confirming the transaction. If the order cannot be completed, your broker will usually close the order at the end of the day.
Trade or Sell Your Cryptocurrency
Once your order closes, you’ll need to decide what you want to do with your new investment. Most cryptocurrency investors fall into 2 categories: long-term investors and short-term traders.
As the name suggests, long-term investors hold their investments for a longer period of time, selling only when they believe the price has risen to a threshold that justifies their initial investment. If you plan on holding your cryptocurrency for more than 1 week, we recommend moving your coins to an offline cold storage wallet. This will help you avoid hacking attempts if your exchange is targeted.
If you plan on becoming a short-term trader, you’ll capitalize on smaller price movements throughout the day or week. If you’re using Ripple as your base cryptocurrency, you’ll start by converting your Ripple into a stablecoin (like Tether or USD Coin) when you believe that the price of Ripple is peaking. When the price falls again, you’ll convert your stablecoin back into Ripple or another coin that you’re interested in. You can take your profits by cashing out any additional Ripple you accumulate during trading.
If you plan on investing frequently, having a fast, responsive trading platform is crucial. Coinbase is one of our favorite choices.
Best For
Crypto Investing
1 Minute Review
Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.
You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.
Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.
Best For
- New cryptocurrency traders
- Cryptocurrency traders interested in major pairs
- Cryptocurrency traders interested in a simple platform
Pros
- Simple platform is easy to operate
- Comprehensive mobile app mirrors desktop functionality
- Coinbase Earn feature rewards you with crypto for learning about available coins
Cons
- Higher fees than competitors
Account Minimum
Depends on asset
Current Crypto Prices
Tracking how the price of Ripple is changing can help you make the most of your investment by buying in at the most advantageous time. Browse the cryptocurrency market at a glance below to get started.
Investing in Cryptocurrency Responsibly
The forefront of industries like decentralized finance and fund transfers, cryptocurrency represents a host of practical tech potential. It’s important to remember that, as a whole, the cryptocurrency market is still highly volatile and unregulated. If you do decide to invest in Ripple (or any type of cryptocurrency) be sure that these high-risk investments make up only a small percentage of your overall portfolio.
More on XRP
Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini Crypto Platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with Gemini now.
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