How to Buy Ripple (XRP)

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If you’ve just started getting into the crypto world, you’ve probably noticed that some cryptos are more complicated to buy than others. Ripple (XRP) is one of the harder cryptocurrencies to buy.

Despite spending a long time in the top 10 cryptocurrencies (by USD market cap) for a long time, XRP is not offered on many of the most popular exchanges. For example, it’s not available on Coinbase, and it isn’t easy to place an order where it is available. Kraken or Nexo would be good examples of popular exchanges that sell Ripple, let’s review where and how you can buy Ripple.

Nexo Crypto Wallet App

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Learn how to use the Nexo crypto exchange to sell, buy cryptocurrencies and earn passive interest on your digital assets.
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In this review, we will go over the ways you can use your staked cryptocurrency in Nexo to earn interest and generate passive income.
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Learn how to access Nexo crypto loans through this crypto wallet app to borrow cash or stablecoins using your crypto as collateral.

There are certainly many ways you can acquire XRP. But today, we are going to look into:

  • What Ripple is
  • Ripple as an investment
  • The best way to buy Ripple, regardless of how experienced you are with cryptocurrencies 

What is Ripple (XRP) Cryptocurrency?

Ripple was formed in 2012 with the primary purpose of facilitating international transactions. Ripple/Ripple Network is both a cryptocurrency (XRP) and a digital payment network.

The primary way Ripple facilitates international transactions is through its payment settlement asset exchange/ remittance system. In this way, you can compare it to the SWIFT system for international money transfers. Ripple, however, is an open-source, peer-to-peer decentralized platform. This enables it to make seamless transfers in many fiat currencies and cryptocurrencies alike.

To make this possible, Ripple works with several banks and other financial service providers. They can thus seamlessly transfer US Dollars, Euros, Yen, Bitcoin, Litecoin, AVAX and more.

If you want to invest in Ripple, you will be buying their cryptocurrency with the ticker XRP. As a crypto coin, XRP is pre-mined, unlike most of the other leading cryptocurrencies. Each token serves as a part of the exchange mechanism between two currencies or networks. 

Should You Buy Ripple (XRP)?

The decision to invest in any instrument is your decision to make alone. Ripple, like other cryptos, is quite volatile, meaning it presents an extraordinary opportunity while presenting extraordinary risk.

As a long-term investment, Ripple offers unique utility in the finance industry. Ever since April 2017, its price has reflected its growing significance. As of March 2022, XRP remains the 6th largest cryptocurrency, and there are no signs that it will dramatically drop in popularity and usefulness anytime soon. However, as is often the case with the top cryptos, Ripple is beginning to face some real competition.

Rival cryptocurrency Stellar, launched in 2014 by Ripple co-founder Jed McCaleb, presents one such example. However, it’s impossible to currently guess what effect competition will have on Ripple going forward. For now, it’s proven to be a resilient investment.

What Can You Do With Ripple (XRP) Coin?

There are several uses for Ripple coins. Let’s review some of them:

Buy, Sell, and Trade

Buying, selling, and trading are the primary profit-producing activities in the crypto market. Ripple is no exception to this.

Users on cryptocurrency exchanges can buy, sell, and trade XRP to produce short or long-term profits, depending on the strategy. While XRP is not available on the most popular, user-friendly exchanges, exceptions exist.

Nexo is a cryptocurrency exchange that makes it exceptionally easy to trade XRP. Users can also earn cashback rewards when swapping the more than 300 pairs available on the platform. Visit Nexo’s website to learn more about their crypto exchange.

Nexo Crypto Wallet App

5c63892ff3d27b00014dcb1eLoading TrustPilot
In this review, we will go over the ways you can use your staked cryptocurrency in Nexo to earn interest and generate passive income.
5c63892ff3d27b00014dcb1eLoading TrustPilot
Learn how to access Nexo crypto loans through this crypto wallet app to borrow cash or stablecoins using your crypto as collateral.
5c63892ff3d27b00014dcb1eLoading TrustPilot
Learn how to use the Nexo crypto exchange to sell, buy cryptocurrencies and earn passive interest on your digital assets.

Stake it

Passive income in cryptocurrency can seem complicated for beginners. However, it’s entirely possible to earn passive income (interest) for your XRP.

Again, Nexo shines regarding earning interest on your crypto. Nexo users can earn up to 8% APY on XRP held in their accounts. To get the highest rate you have to be in the Platinum loyalty tier and opt to receive your interest in NEXO Tokens. You can visit Nexo’s website to see the latest interest you can earn on your crypto assets.

In terms of both storage and earning rewards, Nexo takes security very seriously. For example, they are ISO/IEC 27001 certified, have extensive firewall architecture, and enhanced verification methods like biometric checks.

Use Ripple to Borrow Cash or Stablecoins

Lastly, XRP coins can be used to collateralize a loan to borrow cash or stablecoins in platforms like Nexo. Crypto-backed loans use cryptocurrencies as collateral. For example, you provide XRP as collateral and take a fiat currency or stablecoin loan. To learn more about what Nexo can offer you regarding crypto lending, visit their website.

How to Buy Ripple (XRP)

Buying Ripple is much like buying any other crypto, except it’s harder to buy. But in the spirit of keeping everything user-friendly and straightforward, you can use Nexo to buy, trade, sell, stake, or collateralize (for a loan) XRP.

All you need to do is:

  1. Visit Nexo’s website
  2. Click “Create Account” at the top-left corner
  3. Follow the prompts and complete the account creation process
  4. Connect a valid payment method to your account
  5. Place an order for XRP

Once you’ve acquired XRP, you are free to do with it whatever you please, like taking advantage of passive income, trading, and other features on the platform.

Should You Buy Ripple (XRP) in Nexo?

Nexo offers different features; let’s review some of them so you can decide for yourself:

  • Use the mobile app to manage your account from anywhere
  • Access top security and up to $375 million in insurance on custodial assets
  • Invest in crypto, no matter your investor experience level
  • Get features to receive passive income easily to maximize the returns on your crypto investments

In addition to these simple but important benefits, Nexo offers several advantages that you may find helpful, so let’s go over some.

  • Cashback Rewards: Earn rewards using your Nexo card to make purchases using your crypto or for swapping coin pairs on the exchange.
  • Flexible Earnings: Earn interest on the crypto staked on your Nexo account,  and get your compounded interest paid out daily (and not weekly like other platforms) directly into your account.
  • Top-Tier Insurance: Get your account protected with the most up-to-date security measures, plus your digital assets insured for up to $375 million through their custodians, an extra layer of protection against hacking, theft, or loss of private keys.
  • Zero Fees: Pay no hidden fees or commissions. Deposits, withdrawals, and holding are entirely free. You never lose your accrued interest when you withdraw—you can even add funds while you’re earning to earn even more.
nexo crypto wallet app

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