How to buy, sell and trade XRP in the US | finder.com
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How to buy, sell and trade XRP

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Read our step-by-step guide to buying XRP in the US.

As one of the world’s largest cryptocurrencies by market cap, XRP (XRP) is one of the most traded currencies on global crypto exchanges. The native asset of the open-source XRP Ledger, XRP is designed to facilitate fast and affordable transactions between the world’s different fiat currencies.

XRP is most famously used by cross-border payments provider Ripple, but it can be bought and sold by everyday users on a wide range of exchanges. If you want to know how to buy XRP with fiat or cryptocurrency, read on for step-by-step instructions.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick guide: How to buy Ripple/XRP in the US

  1. Register for an account with an exchange like Kraken.
  2. Enable 2-factor authentication.
  3. Verify your account.
  4. Click “Deposit USD”.
  5. Transfer funds into your account.
  6. Click “Buy/Sell” at the top of the screen.
  7. Search for Ripple and click on “Buy XRP”.
  8. Enter the amount of XRP you want to buy or the amount of USD you want to spend.
  9. Review transaction details.
  10. Click “Buy XRP”.

This is our quick guide to just one way to buy Ripple. Compare some other options in the table below.

Where to buy XRP in the US

XRP is available on an extensive range of cryptocurrency exchanges, including the following:

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Bank transfer
Credit card
Debit card
Bank transfer (SEPA)
USD, GBP, AUD, EUR, INR, ARS, BRL, CAD, CNY. NZD, DKK, HKD, ILS, JPY, KES, CHF, MXN, NOK, PHP, PLN, SGD, SEK, AED
BTC, LTC, ETH, BCH, BAT, DASH, BTG, XRP, VOX
Buy, send and convert more than 35 currencies at the touch of a button.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.
Cointree Cryptocurrency Exchange - Global
Cryptocurrency
-
BTC, ETH, BCH, EOS, ZRX, AE, AION, REP, DGD, ICX, IOST, OMG, PPT, SNT, TRX, VET, ZIL, ZEC, LSK, DCR, SC, STEEM, GNT, DGB, BAT, KMD, BTG, ADA, DASH, ETC, OIST, LTC, XMR, XEM, NEO, ONT, QTUM, XRP
Buy and trade 30+ cryptocurrencies with no deposit fees.
Credit card
Cryptocurrency
Debit card
Bank transfer (SEPA)
SWIFT
USD, EUR, RUB, GBP
BTC, DASH, ETH, XRP, ZEC, XLM
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Cryptocurrency
Credit card
USD
BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL, GAS, LTC, ZRX, QTUM, ETH, ETC, VET, ICX & 300+ more
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Cashlib
Credit card
Debit card
Neosurf
USD, EUR, GBP, JPY, CNY, KRW, AUD, CAD, DKK, NOK, SEK, TRY, HKD, SGD
BTC, ETH, XRP, DASH, LTC, BCH, ETC, OMG, ZRX, CVC, BNT
Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
Blueshyft
BPAY
POLi
USD, EUR, GBP, AUD
BTC, ETH, LTC, XRP, ZEC
An all-in-one platform for buying, selling and managing bitcoin, this Australia-based platform supports users and currencies from various countries.
Huobi.pro Cryptocurrency Exchange
Cryptocurrency
-
BTC, ETH, HT, LTC, PAI, BCH, XRP, DASH, IOST, EOS, TRX, ETC, OCN, ONT, ELF, ABT, CMT, ELA, ZEC, XZC, OMG & 75+ more
Huobi.pro is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Kraken Cryptocurrency Exchange
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
USD, EUR, GBP, JPY, CAD
BTC, BCH, ETH, ETC, XMR, DASH, LTC, XRP, XLM, REP, ICN, MLN, ZEC, USDT, GNO, EOS
Exchange multiple cryptocurrencies through a range of payment methods, including Electronic Funds Transfer, SEPA or Wire Transfer.
Bithumb Cryptocurrency Exchange
Cryptocurrency
Wire transfer
KRW
BTC, BTG, BCH, DASH, ETC, LTC, EOS, XRP, ETH, QTUM, TRX, ICX, VET, XMR, ZEC, MITH
A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.

Compare up to 4 providers

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XRP vs Ripple: What’s the difference?

Unsure about the difference between Ripple and XRP?

Ripple is the name of a US technology company that aims to make it easier and cheaper to send money overseas. Meanwhile, XRP is the native digital asset of the XRP Ledger and is used to facilitate transactions between different fiat currencies.

[INFOGRAPHIC] An in-depth comparison of XRP and Ripple.

A step-by-step guide to buying XRP

There are two options to choose from when buying XRP:
  • Buying XRP with fiat currency, such as USD
  • Buying XRP with another cryptocurrency, for example, BTC

If you’re a cryptocurrency novice, you’ll most likely find that buying XRP with fiat currency is the easiest and most convenient option. However, you can find simple, step-by-step instructions below on how to buy XRP with either fiat or digital currency.

Buying XRP with fiat currency

If you want to buy XRP with US dollars, here’s one example of how you can do it:

Step 1. Register for an account with Kraken

While you can buy XRP on a wide range of exchanges, your choices in buying XRP with US dollars (USD) are limited. US-based Kraken, however, allows you to do so, and you can register for an account by providing your name, email address, mobile number, proof of residency, social security number and proof of ID.

Remember to enable 2-factor authentication for increased security.

Step 2. Deposit funds into your account

Once your account has been verified, log in and go to your account, click “Funding” and then “Deposit”. You’ll then be asked to choose your deposit method.

To deposit US dollars, you’ll be instructed to make a deposit wire transfer that must be completed at your bank. Kraken doesn’t support credit or debit card purchases of XRP.

USD deposits through a wire transfer are only available for Kraken’s Tier 3 or 4 account holders. You can see how Kraken structures its tiers by visiting the Kraken site.

Step 3. Buy XRP

The funds should be available in your account within one to five business days. Once the funds arrive, click on the “Buy/Sell” tab on the screen, search for Ripple and click on “Buy XRP”. You’ll then be able to enter the amount of XRP you want to buy or the amount of USD you want to spend.

Make sure you take a moment to review the full details of your transaction before clicking “Buy XRP”.

Buying XRP with another cryptocurrency

It’s possible to buy XRP with another digital currency, for example, bitcoin (BTC) or Ethereum (ETH). Read on for an example of how to do this.

Step 1. Register for an account with Binance

You can trade XRP on an extensive range of cryptocurrency exchanges, so compare the features of a number of platforms before choosing one that’s right for your needs.

Binance is one of the world’s largest crypto exchanges, and it lists XRP in multiple trading pairs. You can sign up for a Binance account by providing your email address and creating a password. Make sure you also enable 2-factor authentication on your account before depositing any funds.

Step 2. Deposit funds into your account

You’ll now need to ensure that the cryptocurrency you’ll use to buy XRP is in your exchange wallet. If it’s already there, skip ahead to step 3.

To transfer funds into your account, you’ll need to make sure you’re depositing them to the right address. On Binance, this means clicking “Funds” and selecting “Deposits” and then searching for the coin or token you want to deposit – Binance lists XRP in trading pairs alongside bitcoin, Ethereum, Tether and Binance Coin.

Choose your desired currency, and then copy the relevant wallet address or scan the QR code. You can then use this address to deposit funds from your external wallet.

Step 3. Buy XRP

Once the funds have arrived in your account you can navigate to the exchange page and buy XRP.

On Binance, you’ll need to click the “Exchange” tab and select either the “Basic” or “Advanced” trading view, then search for the pair you want to trade, such as “XRP/BTC”. Select a Limit, Market or Stop-Limit Order before entering the amount of XRP you want to buy.

Make sure you take a moment to review the transaction details before you click “Buy XRP”.

How to sell XRP

If you want to sell XRP, the process for doing so is quite similar to the buying process outlined in Step 3. Depending on the exchange you choose, it’s possible to exchange XRP for a decent range of fiat and cryptocurrencies, so do your research to find the right platform for you.

However, keep in mind that XRP isn’t listed in trading pairs with every possible currency, so it may not be possible to make a direct exchange for the coin you want.


Which wallets can I use to hold XRP?

While you can store your XRP on an exchange if you wish, this is generally not recommended due to the security risks associated with centralized trading platforms. Instead, it’s a good idea to transfer your tokens to a secure, private wallet.

Ripple doesn’t offer an official wallet for XRP, but there are several third-party providers that offer wallet support for this popular crypto. Examples you may want to consider include the Ledger Nano S hardware wallet or a mobile/web wallet like Uphold or Cryptonator.

Find out more about securely storing your XRP in our guide to the best XRP wallets.


How Ripple and XRP work

Ripple is a San Francisco-based tech company that also has offices in New York, London, Sydney, India, Singapore and Luxembourg. Founded in 2012 and currently led by CEO Brad Garlinghouse, Ripple is focused on making it quicker, easier and cheaper to send cross-border payments.

Ripple aims to create a global settlement network that allows for more efficient transactions between financial institutions around the world. Its network, RippleNet, is designed to connect banks, payment providers, digital asset exchanges and corporate entities around the world, linking independent payment infrastructures to allow for fast and affordable international transfers.

And, this is where XRP comes in. XRP is the native digital asset of the XRP Ledger and acts as a bridge currency, facilitating fast transfers between different fiat currencies. Transactions using XRP can be processed within four seconds as opposed to the lengthy waiting times that currently plague international bank transfers.

XRP is also designed to be scalable, making it capable of processing 1,500 transactions per second. This, combined with low transaction fees (currently set at a minimum of 0.00001 XRP per transaction), has seen Ripple strike up partnerships with more than 100 financial institutions.

Ripple offers three main solutions for banks and other corporate entities:

  • xRapid uses XRP to provide on-demand liquidity to payment providers, thereby minimizing liquidity costs.
  • xCurrent is a messaging system that allows banks to instantly settle cross-border payments with end-to-end tracking.
  • xVia is a standard payments interface for corporate entities, payment providers and banks that want to send transactions across various networks.

To find out more about Ripple, check out our introductory guide.


Key things to consider if you’re thinking about buying XRP

Cryptocurrencies are complicated and volatile assets, so it’s essential that you do your own research before purchasing any digital coin or token. There are a myriad of factors that can potentially impact the price movements of any given crypto, so if you’re thinking of buying any XRP, make sure you consider the following:

  • Supply. According to CoinMarketCap, at the time of this writing (July 2018), the circulating supply of XRP was 39,262,444,717 XRP, with maximum supply capped at 100 billion.
  • XRP distribution. While the maximum supply of 100 billion XRP has already been created, less than 40 billion of those are in circulation, with a large portion held by Ripple Labs. However, in May 2017, Ripple pledged to lock up 55 billion XRP in 55 smart contracts, essentially putting those funds in escrow. Each month, a contract releases 1 billion XRP into the market. This move was designed to combat fears that Ripple could drive down the price of XRP by instantly releasing all its holdings onto the market.
  • Competition. Stellar is another project focused on transforming cross-border payments, and it’s often listed as Ripple’s major competitor. Check out how the two networks compare in our Ripple vs Stellar guide.
  • Availability. You can buy and sell XRP on a wide range of cryptocurrency exchanges. Not only does this provide increased credibility to the cryptocurrency, but the fact that it’s relatively easy to access may also drive up demand.
  • 20 XRP reservation fee. To fund an XRP wallet address, you’ll need to send a reserve requirement of 20 XRP.
  • Adoption of Ripple technology. A number of big players in the global financial industry have either introduced or are in the process of testing Ripple’s systems with their own operations. For example, Western Union has tested Ripple’s xRapid, which is designed to minimize liquidity costs for payment providers, while China’s LianLian International has signed up to Ripple’s xCurrent system and Saudi Arabia’s central bank has launched a Ripple pilot. Other big names that have partnered with Ripple include MoneyGram, Mercury FX, IDT, Cuallix, Santander, UniCredit, UBS and Standard Chartered.
  • Other factors that affect the price. Speculative trading, regulatory changes and the potential widespread adoption of Ripple technology can all impact the price of XRP.

Consider all these factors and any other potential risks before deciding whether you should buy XRP.


FAQs

Does Ripple recommend any XRP wallets?

No, Ripple does not endorse or recommend any XRP wallets.

We’ve compiled a list of 5 of the most popular choices in our guide to the best XRP wallets.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Images: Shutterstock

Disclosure: At the time of this writing, the author holds ADA, ICX, IOTA and XLM.

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping people find the right products for them. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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