How to Buy Ripple (XRP)
XRP is a cryptocurrency that aims to complement traditional payments, migrating transactions that occur today between databases controlled by financial firms to a more open infrastructure.
Specifically, XRP Ledger introduced a new way of operating a blockchain, one proponents argue makes it more suitable for regulated entities that must follow laws on money transmission.
If you’re looking for a more comprehensive guide that explains why, be sure to read our “What is XRP?” overview. It covers the basics of XRP, answering key questions about the project and the unique factors shaping its cryptocurrency economy.
Ready to get started?
If you’re already up on the basics and just want to place a trade, buy XRP by clicking below.
Why buy XRP?
As XRP permissions who can update its ledger, proponents argue the cryptocurrency could one day become a source of liquidity needed to facilitate traditional, regulated payments.
Interested buyers are also making XRP a part of their cryptocurrency portfolios to:
- Pay the cost of sending transactions over the XRP Ledger
- Make it part of a long-term trading strategy
- Day trade or go after short-term profits
Where can I buy XRP?
The easiest way is to buy XRP through an exchange, like Kraken.
Aside from offering a simple interface and the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose your crypto it is nearly impossible to recover your losses.
At Kraken, we take security seriously with state-of-the-art technology and procedures that protect client funds. We do not compromise when it comes to security, and neither should you.
How much XRP can I buy?
Looking to buy XRP on a budget? Don’t worry, Kraken offers a minimum order size of 20 XRP to help you gain exposure to a variety of assets.
Of course, you can also execute larger XRP buy orders as well. It wouldn’t be out of the ordinary for larger traders to purchase or trade 200,000 XRP or more on Kraken.
How to buy XRP on Kraken
Note: Due to SEC actions we have halted XRP trading for U.S. residents. More information on our blog.
The steps below outline how to buy XRP using the Kraken platform:
Verify your account
You can buy XRP with other cryptocurrencies like bitcoin or ether, simply by providing your name, date of birth, country and phone number. If you’d like to use cash, like USD or EUR, you’ll need additional support documents verifying your identity. For more information, see our verification levels documentation.
Deposit cash or cryptocurrency
Depositing crypto to Kraken is as simple as sending it to a friend. Just generate a new deposit address in your Kraken account to receive funds from your crypto wallet.
Adding cash to your account for trading can be done in a number of ways, including SWIFT, SEPA and domestic wire transfers. The option you select will be based on your location and preference.
Once your cash hits your account, you’re ready to start buying XRP. Simply open the New Order page, fill out the order form and click BUY. With your Kraken account you’ll also have access to our charting tools, 24-hour global client support, advanced order types and leveraged trading.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying XRP, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where to keep your XRP
Once you’re done buying XRP, you should look for a way to secure it. The best way to do this is with a wallet that supports XRP. A wallet is anything that allows you to send, receive and store a cryptocurrency.
There are many types of wallets you can use to keep your digital assets safe, including hardware, software and cloud ones. The option you choose will depend on your individual needs and preferences.
Kraken is not a wallet service
It is important to note that Kraken is an exchange service and not a wallet service. So while we allow our clients to hold funds with us while they’re being used to make trades, you may want to consider separating your holdings into multiple wallets. After all, it is never good to keep all of your eggs in one basket, even one protected by the mighty Kraken!
Start buying XRP
If you’re ready to take the next step and want to buy some XRP, click the button below!