Where to Buy XRP? 5 Best Places to Get Started
Wondering where you can buy XRP? Below is a list of our carefully selected trading platforms and crypto exchanges that you can use to buy Ripple (XRP).
1. eToro - Overall Best Place to Buy XRP
eToro takes number one as the best place to buy XRP due to its ease of use and diverse selection of services it offers on its platform.
You can purchase XRP with as little as $10, making it a great choice for beginner investors. Additionally, eToro has recently introduced a standard transparent fee of 1%, making it one of the cheapest ways to buy XRP.
Along with XRP, you have the option to trade over 60 different cryptocurrencies. And it doesn't stop with crypto, you can trade stocks, forex, and ETFs, making it a good platform for those that want to invest in various types of assets.
eToro makes it extremely simple to buy XRP. It's a user-friendly platform with a set of trading tools that make it the perfect choice for investors of all experience levels.
With a trading platform, storage wallet, and staking service, eToro is the best choice for investing in XRP. One unique aspect different from competitors is its CopyTrader feature, which allows you to copy the trades of professional traders.
Lastly, in the USA eToro is registered with FinCEN and a member of FINRA and SIPC. In the UK, the platform is regulated by the FCA, ensuring your investment portfolio is safe. Read our full eToro review here.
Pros
Low fees
$10 minimum deposit
Social investing features
Regulated, with strong security
Simple to use
Educational resources
Mobile app
Cons
Non-USD deposits will incur a small conversion fee
2. Coinbase - Beginner Friendly Exchange to Buy XRP
Coinbase’s intuitive and simple-to-use interface makes it a popular cryptocurrency exchange for beginners to buy Ripple (XRP). With a variety of payment options such as PayPal and a minimum trade size of $2, buying XRP on Coinbase is accessible regardless of your budget.
Users can set up recurring buys of XRP or even stake their crypto after purchasing it, a unique feature not all platforms offer.
Finally, more experienced traders and investors who prefer a more technical trading interface with advanced tools can use Coinbase Pro. Read our full Coinbase review here.
Pros
Easy-to-use
Set up recurring buys
Earn free crypto through learning campaigns
Secure offline storage
Cons
Low number of cryptocurrencies available
3. Nexo - Best App to Purchase & Earn Interest on XRP
Nexo is a solid option for purchasing and storing Ripple as you can earn up to 8% annual interest on your XRP.
If you don’t want your XRP to simply sit idle once you’ve bought it, Nexo can be used to store and simultaneously help your investment grow.
On other assets, users can earn up to 17% annual interest, which is paid out daily.
The intuitive interface makes it easy to monitor and grow your portfolio. You can even take out a loan using your cryptocurrency as collateral.
Finally, on top of being a simple place to buy XRP, Nexo provides competitive rates and instant cashback, and you can even spend your crypto with the Nexo Card.
Pros
Earn interest on around 38 coins
Earn up to 17% annual interest is available
Borrow cash or stablecoins
2% cash back on purchases with the Nexo Card
Cons
Fewer cryptocurrencies than many competitors
Lack of technical trading tools
4. Binance - Largest Crypto Exchange to Buy XRP
With over 600 cryptocurrencies listed, Binance is the largest crypto exchange in the world. With such high liquidity, it makes Binance one of the best exchanges to buy XRP.
Its Convert feature makes swaps simple, while experienced traders can take advantage of charts and advanced tools with Binance’s Spot trading interface.
The exchange offers a range of derivatives and earning opportunities such as staking, savings accounts, and liquidity farming, so after you've purchased XRP, it's on a platform where you can potentially earn more from it. Read our full Binance review here.
Binance Pros:
Over 600 cryptocurrencies are available
Educational resources in Binance Academy
Staking services and savings accounts
Advanced trading tools and charts
Low transaction fees
Mobile app
24/7 chat support
Binance Cons:
Can be a bit technical for absolute beginners
5. bitFlyer - Best Place to Buy XRP for Low Fees
If you’re on a budget, then bitFlyer is the place to go to buy XRP. Unlike most exchanges and trading platforms, bitFlyer lets you buy and sell more than 10 of the most popular cryptocurrencies (including XRP) with zero trading fees.
The interface is simple for beginners to use, while more experienced traders who want access to advanced features and trading tools can make use of bitFlyer’s Lightning Exchange, with trading fees of up to 0.2%.
The exchange is secured with the latest encryption technology, and is well regulated, having received licenses to operate across Europe, the US, and Japan. It is also fully audited by Ernst & Young.
It’s straightforward to get started with bitFlyer as the quick ID verification process means that you can sign up with your email address, verify your account, and immediately start investing—all in under five minutes.
You can use bitFlyer to buy and sell small amounts of crypto while you build your confidence as you can start with as little as €1. You can deposit euros to bitFlyer via SEPA for free, while SEPA withdrawals have a flat fee of €0.30 for withdrawals under €250,000. Withdrawal fees for cryptocurrencies start from zero and can be viewed here.
bitFlyer Pros:
No fees for buying and selling crypto
Secure and regulated
€1 minimum trade amount
ID verification in under 5 minutes
Advanced trading with bitFlyer Lightning
bitFlyer Cons:
Small number of cryptocurrencies are available
Trading pairs for fiat currencies EUR and JPY only
What Is Ripple?
Ripple is a company that provides global payment solutions. Its digital payment platform, RippleNet, enables payments to be made anywhere in the world in about three seconds and is already used by traditional financial institutions including Santander and Bank of America.
RippleNet is built on the public distributed ledger database XRP Ledger (XRPL), which is high-performance and environmentally sustainable, thanks to its speed, low cost, scalability, and energy efficiency. It supports a range of services, including decentralised exchange, cross-currency payments, batched micropayments, and issuing currencies.
The native cryptocurrency of the XRPL is XRP, which can be sent directly between XRPL addresses, making it a convenient bridge currency. It is used as a bridge between all trades on the decentralised exchange to ensure there is sufficient liquidity, as well as to pay XRPL fees and secure payment channels for batched micropayments.
Ways to Invest in XRP
Whatever your experience and investment goals, XRP may have something to offer as it can be bought for both the short and long term. We will look at why both approaches can be profitable below.
Buy and Hold XRP
This is a strategy that anyone can follow as it simply involves buying XRP and holding onto it for a period of time. Skills such as technical analysis are not required for this strategy. In fact, very little time and effort is required to potentially make a profit, just be sure to buy in at a good XRP price.
XRP cannot be staked for passive income but it can be used to pay fees on the XRPL.
Best XRP Wallets
Private wallets are a popular place to store coins for long-term investors as they mean you always have custody of and access to your coins. They can also provide you with a bit of extra security.
Hardware wallets such as Trezor, BitBox, and Ledger are the most secure, but you will have to pay for this level of security. Alternatively, you can download a software wallet onto your computer or mobile device for free, which tends to be more user intuitive.
Trade Ripple (XRP Trading)
You can also buy and sell XRP much more frequently to generate returns more often, taking advantage of the XRP price volatility. People who are trading XRP often use skills such as technical analysis to identify the best times to buy and sell.
Private wallets are less useful to traders because they need to access their coins on an exchange regularly. Exchanges provide free web wallets, which although less secure, tend to be the most convenient option for traders.
Should I Buy XRP Now?
This is up to you; just make sure to read all the available information before making your decision. XRP has a capped maximum supply, and with some XRP being destroyed through transaction costs, XRP is actually slightly deflationary. This could help XRP conserve its value in the long term.
The use of XRP for escrow, securing payment channels, and providing a bridge between currencies on the decentralised exchange creates utility and demand for the coin, giving it value on the XRPL.
As XRP is needed to pay fees on the XRPL, there should be more demand for it as the number of people using the XRPL grows. With XRPL-based payment solutions such as RippleNet already being applied by world-leading institutions for financial transactions, Ripple appears to be a valuable project, of which XRP is an important part.
