First What is Ripple / XRP
XRP – The native currency of the Ripple payment protocol and is a asset with decreasing supply. One of its main functions is as a bridge currency, or a remittance between two traded pairs.
Ripple – is a real time settlement and remittance system, that can send global financial transactions fast and very low cost. This peer to peer network called the Ripple Payment Protocal was created by Ripple Labs Inc. from San. Francisco technology company.
FUTURE: XRP is a payment gateway and recently moved $755 Million taking 4 minutes (7 transactions total) for less than 1 Cent. WOW! Game changer for money transfers in my opinion and just a matter of time before mass adoption!
So here we go 3 ways to buy XRP and an future bonus way #4 that Generation Y & Z will love!
3 Ways You Can Buy XRP
First Step – You will need an XRP Wallet like ledger to store your tokens – I would not leave on exchanges for the chance of getting hacked or stolen. Take your time and find a storage that fits your needs, you may want other coins and a secure wallet that supports them. Here is a great article that compares 70+ and be sure to hit the load more button. 😉
Option #1) Go straight to a Cryptocurrency Broker like like Changelly and buy with with your credit card, then send to your wallet! (For people who do not want to deal with an exchange.)
Option#2) Open a account with an exchange that has XRP, my favorite is Binance. In my personal opinion they have the best selection of quality coins, but please do your own research.
Note: The only downfall is they don’t exchange fiat from a card or bank account for cryptocurrency.
Here is a XRP Buying Guide that will make your search quicker, just thank me with leaving a comment below and sharing this post if you find the time!
Option#3) For those who have another exchange account like Coinbase, that does not sell XRP you still have an option.
In the case of Coinbase (who does not sell XRP), you can buy Bitcoin and transfer to Binance and then buy XRP/BTC pair.
I know this is a big pain in the ass, and mass adoption will not take place until the option’s for beginners become are less painless! But that is another story altogether. 🙂
Future Bonus Option
#4) Keep a watch out for phone apps. like RobinHood, they are growing very fast in popularity. With the fast setup and ease of use, even a blind man could see why, no pun intended!
On Robinhood you can Invest in stocks, ETFs, options, and cryptocurrencies, all commission-free, right from your phone or desktop.
Note: You can only buy and sell crypto – not transfer out to your personal wallet! Which for some (Generation Y & Z) not messing with all the exchange setup is golden.
But for now Robinhood does not sell XRP, but do offer other cryptocurrencys like BTC,ETH, and LTC.
MASS ADOPTION HIGHWAY
The ramp for mass adoption is still a little clunky, therefore not the easiest to navigate for digital assets. For that reason the market is still for early adopters and has a very long way to grow. 😉
Hope this was helpful and if I missed anything leave a comment below – and share this information if you think it would benefit others!