Keeping your tokens on the exchange is a good idea if you want to trade XRP over the short term. However, if you had a long-term outlook, migrating your top bitcoin price predictions assets to a software or hardware wallet would be ideal to provide increased security and control over your tokens. Firstly, XRP is one of the only cryptocurrencies with regulatory clarity, with Ripple Labs winning a lawsuit against the SEC, the result of which determined XRP not to be a security. This makes it an attractive option for institutional investors, who may be wary of investing in unregulated assets.
Coinbase Exchange is the largest US-based cryptocurrency exchange platform where you buy, sell, and trade cryptocurrency. It is home to over 200 cryptocurrencies allowing you to diversify your own digital asset assets and portfolio. Uphold is a secure, transparent digital asset exchange, ideal for no-hassle transactions. With no-fee transactions for assets over $100, it sets itself apart. Furthermore, its debit card facilitates instant cryptocurrency conversions, adding user convenience.
Step 1: Choose Your Exchange
- You can even try out Kraken, provided you aren’t residing in New York.
- By following these steps, and by storing your XRP properly, you’ll be well on your way to buying and trading XRP in the U.S.
- It also borrowed the use of a native cryptocurrency that facilitates value transfer within the network.
- However, there are indications that the Ripple case will be resolved soon, and the coin can be relisted on the crypto exchange.
- In addition to the fast transaction of Ripple XRP, it also offers low transaction fees and consumes less energy, making it more attractive to multiple users.
Finally, XRP crypto is an intermediate currency for transactions across various crypto assets and networks. XRP is the token of Ripple – a payments company that provides solutions for global money transfers. One can acquire XRP on Binance through a credit or debit card purchase or by trading it with other cryptocurrencies available on the exchange. Aside from cryptocurrencies, the exchange also allows you to buy funds in your account using fiat currency. One easy way to achieve this is by linking a credit or debit card to the account.
To buy XRP online instantly, you can use a regulated and legitimate brokerage platform that offers the token, such as BYDFi. The lawsuit was filed by SEC in 2020 due to Ripple raising $1 billion by selling XRP. In essence, SEC claims that the token is a security, while Ripple maintains their position that it is not.
Mobile Wallets
Once they do, proceed to the next step, which is making the investment. Uphold is a New York-based multi-asset company with cryptocurrency as one of its supported products. There are more than seventy cryptocurrencies available for purchase on its platform, and XRP is one of them. Below, we highlight a step-by-step guide on how you can use Uphold to purchase your first XRP coins. Despite XRP’s popular reputation within the cryptocurrency space, it’s surprising that different types of forex brokers few US-based exchanges support it thanks to its ongoing legal battle with the SEC. XRP is a cryptocurrency intended to speed up global payments at a time when clearing payments can take days.
Trump Threatens More Tariffs Against Canada—Here’s How The New Levies Could Impact Prices
Ripple’s XRP and ethereum rivals solana and cardano—all regarded as U.S.-made cryptocurrencies—each rose between 20% and 50%. Sen. Cynthia Lummis previously introduced a bill to create a strategic bitcoin reserve for the U.S. She first advocated for one at July’s Bitcoin Nashville conference, where then-candidate Trump also spoke.
Treasury to acquire one million bitcoins over five years, equating to approximately 5% of the total Bitcoin supply. Trump has been discussing the idea of a strategic crypto reserve since his 2024 presidential campaign. Even if XRP benefits from some substantial catalysts, it’s unrealistic to think it’ll reach $6 this year.
Following a bullish run off the back of news of a second Trump presidency and a change of personnel at the SEC, XRP has surpassed Solana to become the fourth largest crypto by market cap. If you want to buy XRP coin, the easiest way is to onboard a centralized exchange like Binance virtual currency miners for sale or Coinbase. Hence, we will also discuss further in this article how this lawsuit has affected Ripple and, by extension, the viability of investing in XRP coins. In August 2024, Ripple was ordered to pay a $125 million penalty for improperly selling XRP tokens. Subsequently, in October 2024, the SEC dropped its remaining claims against Ripple’s executives, Garlinghouse and Larsen.
After deciding on an exchange, sign up by providing details such as your email address and a secure password. Most platforms require a know-your-customer (or KYC) process for regulatory compliance, which involves uploading a valid ID and possibly proof of address. Verification can take from a few minutes to several days depending on the exchange’s procedures.
- You simply need to use your credit card with the platform to purchase the desired token amount in the steps described above.
- While CEXs can let you buy Ripple (XRP) easily, KYC verification can be time-consuming.
- Ripple is one of the world’s most established cryptocurrency-focused companies, with a number of real-world applications and significant mainstream adoption.
- One of the most popular cryptocurrency exchange platforms to trade XRP is Coinbase.
- If the exchange is licensed and has implemented the correct security measures, this could be a good option, especially for beginner investors.
How to Buy Ripple with Bank Transfer
Hot wallets are more accessible than cold wallets, potentially making them a better option for short-term traders that will be actively trading with their XRP tokens. Coinbase, which once delisted XRP, has brought it back, giving investors an easy and familiar place to buy XRP directly. Other popular platforms include Binance, Kraken, and Bitstamp, all of which offer multiple fiat trading pairs for XRP. These larger exchanges typically provide strong liquidity and user-friendly interfaces, making it straightforward for newcomers to navigate.
How do Crypto Exchanges Operate?
Depending on the chosen deposit or funding method, your XRP will be credited to your account immediately or after a predetermined period. Whichever figure you provide, Uphold will automatically convert and fill in the appropriate amount in the corresponding form field. If you provide the fiat amount you wish to spend, the exchange will automatically fill in the amount of XRP coins you will get.
He has a background in the technology industry and owns some ETH and BTC. Sam was part of the team that won a 2023 Gerald Loeb Award for CoinDesk’s coverage of Sam Bankman-Fried and the FTX collapse. While many cryptocurrencies saw their prices rise after Trump was elected, it’s worth mentioning that the optimism can easily fade. Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015.
