How to Buy XRP in 2021 | Top 5 Ripple Brokers

XRP was created to complement traditional payments by migrating transactions between databases controlled by central institutions to a more open infrastructure.

It’s been praised for its design and has sparked discussion on how blockchains can be used. 

This guide will take you through the ins and outs of buying XRP, what it is and what Ripple is trying to achieve.

Best platforms to buy XRP online – 2021

1

Minimum Deposit

$50

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More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities

Buy crypto, or trade cryptocurrencies via CFDs

CopyPortfolios: Innovative, fully managed investment strategies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

2

Minimum Deposit

$250

Exclusive Promotion

Trade the global markets. Trade with real-time execution and professional tools

Follow and copy Naga’s top traders who have mastered their trading strategies

Free personal account manager

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

3

Minimum Deposit

$50

Exclusive Promotion

Over 4 million customers worldwide

Buy, sell and trade nearly 200 digital assets

Verified within 15 minutes

4

Minimum Deposit

$5

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What is XRP?

XRP was launched in 2013 and was created to complement traditional payments. It aims to move transaction data from databases controlled by financial institutions to an open infrastructure. When launched, it was described as one of the most ambitious cryptocurrencies and was praised for its design, which sparked discussion of how blockchains can be used to address many of the world’s financial problems. 

The XRP ledger was the first to introduce a new way of operating a blockchains record system. It was believed that this innovation made it more suitable for regulated entities that have to follow strict money laws. Unlike Bitcoin, the XRP ledger grants the power to validate transactions to approved participants. 

Nodes do not earn XRP for maintaining a correct version of the ledger’s history. Instead, at launch, the entire supply of XRP was distributed to individuals and companies through gifts and giveaways. This totalled 100 billion XRP tokens and was unheard of at the time. The design decision sparked a lot of debate within the crypto world which caused the company, Ripple, to be seen as a pioneer at the time. 

Today, Ripple acts as a principal steward in the development of XRP and plays an important role in its development for the digital economy. Unlike many other cryptocurrencies, XRP does not have a single founding figure. However, there are several individuals who have been praised for kickstarting the currency. These include the founders of OpenCoin, technologist Jed McCaleb (who founded Mt Gox, the first successful bitcoin exchange, and Stellar, the software that powers the XLM cryptocurrency) and Chris Larsen, founder of the fintech companies E-LOAN and Prosper.

As of September 2021, XRP has a market cap of $50,703,340,957 with 46.5 billion tokens in circulation. It has a fully diluted market cap of $109,692,726,574 and a total supply of 100 billion. One token currently costs $1.09 and reached an all-time high of $3.84 in January 2018. 

Buy XRP online now at our preferred partner

1

Minimum Deposit

$50

Exclusive Promotion

More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities

Buy crypto, or trade cryptocurrencies via CFDs

CopyPortfolios: Innovative, fully managed investment strategies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pros

  • Ripple speeds up the flow of capital which helps both small and large businesses. If it was to become widely adopted, millions of people would have access to a global economy. 

Cons

  • Around a third of all XRP is owned by the Ripple chairman and even more is owned by senior board members. With so much of the supply in a few hands, it’s possible that the price is overinflated. 

How does XRP Work?

The XRP ledger used several aspects of Bitcoins design during its development. It allows users to send and receive cryptocurrency using public and private-key cryptography. All transfers between addresses will require digital signatures. However, there are also several differences between the two. For example, XRP does not use mining nor does it require specialized computers to validate transactions. Instead, it enables servers to send transactions for consideration by its network. 

In order to create a consensus on the network, unique nodes are required. These are permissioned servers that maintain a “unique node list” and will deem what transactions are valid. This allows XRP nodes to quickly validate transactions as long as 80% of participants deem them to be valid. 

Now that you know what the XRP is and how it works, you can use one of the brokers above to buy XRP. However, if you’re still unsure on how to get started, continue reading!

How to Buy XRP online

You can buy XRP on most cryptocurrency exchanges, with Coinbase and Binance being the best option for new investors. You can buy XRP with fiat currencies such as USD and other cryptocurrencies.

Here’s a step-by-step guide on how to buy XRP online:

  1. Start by creating an account on a popular exchange based on your preferences. If you already have an account, log in. 
  1. Make sure your account is funded and search for XRP. 
  1. Select the number of tokens you want to buy and click “Buy” to complete your transaction. Your XRP tokens will now appear in your exchange wallet. 

Congratulations, you’ve just bought your first XRP online!

Top platforms to buy XRP online

1

Minimum Deposit

$50

Exclusive Promotion

More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities

Buy crypto, or trade cryptocurrencies via CFDs

CopyPortfolios: Innovative, fully managed investment strategies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

2

Minimum Deposit

$250

Exclusive Promotion

Trade the global markets. Trade with real-time execution and professional tools

Follow and copy Naga’s top traders who have mastered their trading strategies

Free personal account manager

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

3

Minimum Deposit

$50

Exclusive Promotion

Over 4 million customers worldwide

Buy, sell and trade nearly 200 digital assets

Verified within 15 minutes

How to Trade XRP

Trading is slightly different to buying XRP. The best place to trade XRP is Binance, though the cryptocurrency is not commonly traded amongst investors.

Most investors that hold XRP do so with the intention of holding it for a long term period, hoping its value increases.

Therefore, if you want to trade the currency, it’s best to stick to Binance and focus on trading it with more popular currencies such as Bitcoin (BTC). 

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