Cryptocurrencies are based purely on arithmetic and this is one word for which the whole world is going crazy for. With the rise of the Bitcoin, the other cryptocurrencies have also started to gain their market cap. If you look carefully then you8 may find that the coins which had values in cents, now rose up in hundreds of dollars. Among all other cryptocurrencies, the one currency that successful to produce enough hype is the Ripple coin.
Ripple coin is actually an RTGS or Real Time Gross Settlement system, remittance network and also a remittance and currency exchange network. This is also known as Ripple protocol or Ripple transaction protocol which is based upon consensus ledger, distributed open source internet protocol and XRP (native cryptocurrency). The Ripple was launched in 2012 and people investing in cryptocurrencies are looking forward towards its growth. The main motive behind this coin is to boost global liquidity of currency by permitting transfers across the world. This system has taken over the traditional system of western union and swift after it proved that it is indeed the greatest system.
Buying Ripple coin
The primary requirement to buy a Ripple coin is that you need bitcoin first and foremost. The websites that work as exchanges for ripple currency requires that you need to own bitcoins in order to make the exchange and convert it to ripple currency. Buying bitcoin is very easy but then you will need an account on a cryptocurrency exchange. The two of the best places to buy bitcoin are coin base and coin mama because they simplify the buying of bitcoin, a lot easier. There are various websites that will allow you to buy ripple coin. Here are some of the websites provided which will help you to buy ripple coin.
Buy on Binanace
Binanace is fast growing cryptocurrency exchange and is also the cheapest exchange to trade cryptocurrencies. To exchange through Binanace you will need the same amount of Ethereum, bitcoin or Litecoin to exchange and get ripple coins. To buy from Binanace you will need a verify the Binanace account. Upon verification, if you want exchange bitcoin for ripple you will need to send amounts to your BTC address provided by Binanace from your wallet. Similarly, if you want to exchange Ripple for other currencies then you will need to do the same for each coin.
Buy on Coinbase
This is the easiest most way to exchange cryptocurrencies and is also the safest among all. To make a purchase for XRP you will need a coin base account first. Thereupon you need to buy some bitcoin and store in your wallet. Go to your coin base account and choose the currency that you want to trade for Ripple coin. After selecting and locking in the amount you can exchange for ripples but you need to have cryptocurrencies in your coin base account.
Buy on Bitstamp
Buying a ripple in Bitstamp is very easy. They allow users to buy ripple through trading pairs. The trading pairs provided by Bitstamp are XRP/EUR, XRP/BTC, and XRP/USD. This means you can buy XRP (Ripple coin) with Euro, BTC or US dollars. You will also need a verified and authenticated account on Bitstamp to make the purchase. Only after your account is verified, you can deposit funds to buy Ripple.
Buy on Kraken
Kraken is another platform that allows you to buy Ripple coin directly. Kraken is one of the best exchanges because of its liquidity, reliability, and security. The exchange has been recognized by strong personnel’s. Buying Ripple on Kraken is a lot easier than you think. To buy Ripple first you need to create an account and authenticate it. To verify your account you need to visit your account and then click on get verified. You can generate an order by entering the amount of XRP and buying it with XBT. In order to make bank deposits, you will need to have Tier 2 customer verification.