eToro Cryptocurrency Trading
- Buy and trade 15+ popular cryptocurrencies
- Copy the moves of qualified traders with CopyTrade
- Instantly deposit funds with PayPal and credit or debit card
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
As one of the world’s largest cryptocurrencies by market cap, XRP (XRP) is one of the most traded currencies on global crypto exchanges and is popular with investors in Ireland. 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 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 in Ireland, read on for step-by-step instructions.
On 22/12/2020 the Securities and Exchanges Commission (SEC) filed a lawsuit against Ripple and two of its executives.
According to the SEC press release “The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide.”
Ripple filed a 93-page response to the lawsuit on 01/29/2021, stating that “XRP performs a number of functions that are distinct from the functions of “securities” as the law has understood that term for decades. For example, XRP functions as a medium of exchange — a virtual currency used today in international and domestic transactions — moving value between jurisdictions and facilitating transactions.”
This is our quick guide to just one way to buy XRP. Compare some other options in the table below.
XRP is available on an extensive range of cryptocurrency exchanges, including the following:
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.
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 in Ireland with either fiat or digital currency.
If you want to buy XRP in Ireland, here’s an example of how to do it:
XRP is listed on a wide range of exchanges, so search for an exchange that offers your desired XRP pairings. You can then register for an account by supplying your email address and setting up a password.
At this stage of the process, some exchanges will allow you to start trading straight away. However, other exchanges will need further information to satisfy Know Your Customer (KYC) requirements, in which case you’ll have to provide your name, contact information and proof of ID.
Before depositing any funds, you should also enable two-factor authentication on your account for increased security.
Many cryptocurrency exchanges don’t allow you to exchange EUR or other fiat currency for XRP. If this is the case on the platform you choose, you’ll need to first use your EUR to acquire crypto that’s listed in a currency pairing with XRP, such as Ether (ETH) or bitcoin (BTC), and then exchange it for XRP.
Click through to the markets or exchange section on your trading platform and search for the currency pairing you want, such as BTC/XRP.
Click on the “Buy XRP” link and enter the desired purchase amount in either XRP or EUR. Before finalising the order, make sure you review the full details of the transaction and any fees that apply.
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 two-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”.
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.
While you can store your XRP on an exchange if you wish, this is generally not recommended due to the security risks associated with centralised 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 in Ireland 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.
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:
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:
Consider all these factors and any other potential risks before deciding whether you should buy XRP in Ireland.Back to top
Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.
If you’re looking for ways to gain exposure to bitcoin and other digital currencies, cryptocurrency ETFs could be worth exploring. Find out what crypto ETFs are and how they work in this introductory guide.
A quick glance into the world of stock trading.
Discover the features available on the EU-focused Kriptomat cryptocurrency exchange, how to get started and what cryptocurrency investor the exchange is best suited for.
If you want to buy the Loki (LOKI) privacy cryptocurrency but don’t know where to start, find out how and where in this handy guide.
Want to learn how to buy Groestlcoin in Ireland? In our step-by-step guide, we’ll show you where to buy or sell it.
Beam was the first Mimblewimble coin to go live. Find out how it works and where to buy it.
An in-depth review of one of the most popular lending and interest earning platforms in cryptocurrency.
Nexo is a cryptocurrency lending and borrowing platform that offers high interest rates on cryptocurrencies, stablecoins and fiat. We review the features available and look at how safe your funds would be on the platform.
International banking transactions can be made easy with the help of a multi currency account. If you find that you are consistently trying to manage currencies other than the Australian dollar, then consider banking your money in this type of account.
A complete review of the AscendEX exchange, covering trading and DeFi features, associated fees, regulation and security. Is AscendEX right for you?
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.