How To Buy Ripple (XRP) |

Close-up photo of a woman buying cryptocurrency through a smart phone app that is also showing the growth graph.

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Ripple is a payment platform that uses blockchain and cryptocurrency to make many financial transactions more efficient. For example, individuals trying to convert currencies or make international fund transfers can complete these transactions in very little time using Ripple and its native token, XRP.

See: 3 Things You Must Do When Your Savings Reach $50,000

However, Ripple has undergone some scrutiny in the United States, which can make it a little more difficult to purchase XRP than other cryptocurrencies. Read more below to learn how to buy XRP and why it may be risky to do so.

How To Buy Ripple (XRP)

Here are some general guidelines to use when investing in XRP, including which crypto exchanges you can use, how to pay for it and how to store your XRP tokens.

Comparing Crypto Exchanges

A crypto exchange allows you to buy, sell and trade cryptocurrencies using your crypto assets, as well as fiat money like U.S. Dollars and other government-issued currencies. Crypto exchanges are more secure than other buying methods, but each platform will have its own rules, procedures, services and other features.

Exchanges typically offer only a selection of cryptocurrencies — you can’t buy every crypto at every exchange — so make sure the crypto exchange you choose supports your choice of cryptocurrency. The following exchanges support XRP in the U.S.:

What To Consider

Consider the following factors when choosing a crypto exchange:

  • Security: The safest crypto exchanges have two-factor authentication, biometrics logins, identification requirements and a program that allows ethical hackers to be rewarded for finding vulnerabilities.
  • Fees: Aim for an exchange that charges around 0.2 percent or less of your total trading volume from the past 30 days.
  • Rewards: Look for crypto exchanges that provide incentives for users to earn more crypto, such as staking coins, cash back programs or cryptocurrency loans.
  • Support: Choose an exchange with good customer support. If you will be making fiat money transactions, make sure the exchange offers fiat support.
  • Liquidity: Make sure that you can liquidate your assets into fiat money quickly without losing too much value.
  • Compliance: Choose a crypto exchange that is licensed and operating legally in your geographical location.

Paying for XRP

If you want to buy XRP, you will need to decide on a payment method.

Paying for cryptocurrency is similar to buying other products or investments. You can buy coins with fiat money or trade another cryptocurrency. For example, you could choose to pay for your XRP with U.S. dollars, or you could trade another cryptocurrency that you already own.

Keep in mind that you will need to choose an exchange that supports your preferred payment method, as well as the cryptocurrency you want to buy. Some exchanges allow traditional payment methods like bank transfers and debit or credit cards.

Storing XRP

After buying XRP, you will need to store your coins in a cryptocurrency wallet. Choosing a crypto wallet is similar to choosing a crypto exchange, and many exchanges also allow you to store your cryptocurrencies. You should consider factors such as:

  • How you intend to use your cryptocurrency
  • Security features
  • Service availability, such as trading, selling, or buying
  • How many cryptocurrencies you can hold

Some popular XRP wallets include Ledger Nano, Trezor and Edge.

Types of Wallets

There are a few types of crypto wallets to consider. A cold wallet, or hardware wallet, is a physical device that you can disconnect from the internet to keep it secure. Cold wallets are the safest but also most expensive option.

Hot wallets, or software wallets, are less expensive, but they stay connected to the internet, so they’re easier to hack.

You can also opt for a wallet provided by the exchange, but these typically leave your crypto in the custody of the exchange and, while usually free, are the least secure option and not advisable for anyone who isn’t trading frequently or staking their crypto.

XRP Controversy

In 2020, the Securities and Exchange Commission filed a lawsuit against Ripple for allegedly selling $1.3 billion in unregistered securities, namely XRP. While Ripple never received any notices telling them to stop selling XRP, some large cryptocurrency exchanges delisted the coins from their exchanges and wallet services.

Courts are still working to determine the SEC’s goals and how those will determine cryptocurrency regulation requirements going forward. However, the damage to Ripple’s reputation may have already been done.

Should You Buy Ripple (XRP)?

As with any investment, you will need to do thorough research to understand whether XRP fits into your strategy. XRP is an affordable cryptocurrency that has a relatively high market cap, which may indicate investor confidence. It is one of the more well-known alt coins, and it has a track record of success despite its recent trouble with the SEC. However, if the SEC’s decision goes poorly for Ripple, it could end up being worth very little.

In the end, the decision of whether to buy XRP is one that you should make based on your investment strategies, financial situation and personal preference.


Here are the answers to some common questions about buying XRP.

  • What is the best way to purchase XRP?
    • The best way to purchase XRP is through a secure exchange that supports it, like Kraken or eToro.
  • How do I buy XRP in the U.S.?
    • Exchanges that support XRP in the U.S. are somewhat limited, due to the pending SEC ruling, but you can buy XRP through Bitfinex, Bitstamp, eToro, Huobi and Kraken.
  • Why can I not buy XRP?
    • If you aren’t able to buy XRP, you may be searching for it through an exchange that doesn’t support it. Binance, for example, does not support XRP through its U.S. version, Binance.US.

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