How to buy, sell and trade Ripple (XRP)

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

Last updated:

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 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.

eToro Cryptocurrency Trading & CFDs

Disclaimer: Highly volatile investment product. Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.

  • Advanced social trading functionality allows you to interact with and follow leading traders
  • Access to a wide variety of markets in addition to cryptocurrency
  • Lots of withdrawal options and large monthly trading limits
Promoted
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.

Where to buy XRP in the UK

Table: shows partner brands and other brands, sorted by popularity
XRP is available on an extensive range of cryptocurrency exchanges, including the following:

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Cryptocurrency
Bank transfer (SEPA)
SWIFT
Wire transfer
Faster Payments Service
GBP, EUR, USD, CAD, SGD, AUD, JPY, MXN
BTC, ETH, BCH, XRP, LTC, EOS, XLM, USDT, ADA, XMR, TRX and 50+ more
BC Bitcoin is a UK-based cryptocurrency brokerage that buys and sells more than 100 different cryptocurrencies.
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
USD, EUR, GBP, JPY, CAD
BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, DASH, XMR & 15+ more
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Credit card
Debit card
PayPal
Wire transfer
Local Online Banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK, ZAR, JPY, SEK, CNH, TRY, RUB, HUF, MXN, PLN
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, BNB, XTZ
Disclaimer: Highly volatile investment product. Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

UK residents: In addition to normal crypto trading, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Bank transfer
Credit card
Debit card
GBP, EUR
BTC, ETH, LTC, XRP
Buy and sell bitcoin in GBP or EUR with credit card, debit card and bank transfer payment options.
Credit card
Debit card
PayPal
USD, EUR, GBP
BTC, ETH, XRP, BCH, EOS, LTC, XLM, ETC, ZEC, ZRX & 5+ more
Get US$10 in free bitcoin when you buy US$100 or more of any crypto. T&Cs apply.
Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Bank transfer
Credit card
Cryptocurrency
Debit card
Neteller
Bank transfer (SEPA)
SOFORT
EUR, GBP, CHF, USD
BTC, LTC, ETH, DASH, XRP, BCH, KMD, MIOTA, EOS, PAN & 20+ more
A European exchange which enables users to pay in EUR, GBP, CHF and USD through a variety of payment platforms.
Cash
Credit card
Debit card
Bank transfer (SEPA)
USD, EUR
BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP
Buy coins like Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with credit card.
Cryptopay Cryptocurrency Platform
Credit card
Cryptocurrency
Debit card
Bank transfer (SEPA)
GBP, EUR, USD
BTC, LTC, XRP, ETH
Buy crypto with GBP, EUR or USD on Cryptopay, a platform with its own crypto prepaid debit card.
Stellarport Exchange
Cryptocurrency
-
XLM, BTC, BCH, USDT, OMG, ZRX, KIN, MOBI & more
Stellarport taps into the Stellar Decentralised Exchange to provide buyers and sellers with access to XLM and various other cryptocurrencies.

Compare up to 4 providers

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 GBP
  • 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, here’s an example of how to do it:

Step 1. Register for an account with an exchange that allows you to buy XRP

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.

Step 2. Deposit funds into your account

Many cryptocurrency exchanges don’t allow you to exchange GBP or other fiat currency for XRP. If this is the case on the platform you choose, you’ll need to first use your GBP to acquire a crypto that’s listed in a currency pairing with XRP, such as Ether (ETH) or bitcoin (BTC), and then exchange it for XRP.

Step 3. Buy 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 GBP. Before finalising the order, make sure you review the full details of the transaction and any fees that apply.


Go to Coinbase's website

Buying XRP with another cryptocurrency

It’s also 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 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”.

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 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 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 minimising 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 myriad 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 time of 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 minimise 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 writing the author holds ADA, ICX, IOTA and XLM.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site