Ripple is a platform that uses advanced blockchain technology to connect banks, payment networks, digital asset exchanges, and corporations. Ripple aims to be the ‘Amazon’ of cryptocurrency, with a settlement layer that makes cross-border transactions with its native XRP digital currency, cheaper and faster than traditional wire transfers.
So, how does one invest in XRP, the native digital currency of the Ripple settlement layer? Credit cards or debit cards may not be the cheapest methods but they are one of the most convenient ways to buy XRP, especially for making one-off bulk purchases.
There are multiple online platforms to buy Ripple in a secure and easy way. We’ve chosen the top place so you can start right away and get XRP in just a few minutes, regardless of your experience level. Please follow our step-by-step guide below.
The first step consists in creating a free account with our recommended platform. Visit the website by clicking the button below and start with your basic information to sign up. Depending on your location and local regulations, you might need to verify your identify.
Once your account is set up, you can go to "Deposit" and follow the instructions to fund your account with Credit Card . Enter the amount you want to deposit (beginners normally start with lower amounts), follow the steps and check your new account balance.
Your account is all set and you'll be able to trade any of the available cryptocurrencies on the platform. Select an order type to buy XRP (a market order will be fulfilled instantly). Check your dashboard for your opened positions and available crypto funds!
While not all brokers and exchanges offer credit cards as a payment method, many do. It’s a good idea to look for exchanges and brokers in your region that offer this service. Many major international exchanges and brokers offer credit cards as a payment method, as do several cryptocurrency wallet providers where you can buy Ripple’s XRP digital currency. If you can’t find a broker or exchange that offers credit cards to purchase Ripple, you could try to download a leading exchange or wallet app that supports XRP and credit cards for payment.
When setting out to buy Ripple’s XRP digital currency with a credit card, the first thing you will need to consider is the cost of the transaction.
Credit cards and debit cards are more convenient than other methods, like buying XRP with PayPal or a bank transfer, but they are also more costly.
The fees for buying Ripple (XRP) with a credit card will vary depending on the bank, jurisdiction and exchange or broker you have selected. Typically, exchanges will charge an additional processing fee, normally under 4%, for using a credit card but it is important to verify this before diving in.
Some merchants also charge ‘convenience fees’, for credit card purchases. However, these are usually only charged if credit cards represent a specialty payment channel for a merchant. These are normally a fixed processing fee or 4%, whichever is lower.
There are several other payment methods you could consider if the fees are too much. You can deposit to an exchange or broker via a bank transfer or through payment providers like PayPal, Skrill and Neteller. These all vary in convenience, speed and cost.
Some of the larger exchanges with greater liquidity offer less than a 4% fee for buying Ripple (XRP) with a credit card.
Other fees to look out for include foreign transaction fees and it is important to confirm all credit card charges before proceeding.
The reality is that there isn’t one best method when it comes to buying Ripple’s XRP digital currency. It really depends on your personal priorities in terms of convenience, speed and cost.
Different payment methods will suit different buyers. For example, some people want to pay the lowest fees possible and are prepared to forgo convenience and speed to achieve this.
Credit cards are better suited to one-off purchases than repeated smaller transactions and are ideal for someone not particularly tech-savvy who simply wants to purchase a coin quickly and easily and with a minimum of fuss.
As a comparison, wire or bank transfers are generally the most affordable payment method, while credit cards are the easiest and fastest.
Payment networks like Paypal, Skrill and Neteller are somewhere in the middle; being cheaper than credit cards and more convenient than bank transfers to trade XRP.