How to Buy XRP as a Beginner
Knowing how to buy XRP is the first skill you should acquire if you want to start the crypto journey with the XRP coin. Read on as I help you accomplish this crypto-learning mission.
This fact alone keeps drawing more participants into the crypto space. At some point, I began to wonder whether there would be enough room to accommodate all.
Of course, the crypto sky is too large for investment birds to collide. Are you a newbie wanting to buy some XRP coins? Let's proceed with the tutorial.
But first!
What does XRP Mean?
XRP is the trading ticker or symbol of the popular cryptocurrency called the ripple. This coin was born into the crypto world in 2021.
Among many crypto-assets built on blockchain, XRP has a unique purpose. This purpose is to improve the digital payment experience.
This coin has its blockchain which is called the XRP Ledger (XRPL). However, XRP and XRPL are acronyms with specific use in the Ripple ecosystem.
It is a very versatile tool for those seeking to make transactions in the crypto space.
How to Buy XRP as a Beginner
If you are starting your tourney in this crypto space with the Ripple (XRP) coin, you have to decide what type of exchange platform will be favorable.
I will be showing you how to use both the centralized and decentralized exchange platforms to buy your XRP token below:
I). Centralized Exchange Platforms
Here is how you can buy XRP using the centralized exchange platforms:
- Locate reliable platforms like Binance, Luno, and Bybit.
- Create an account with any of them.
- Verify your account using your identity documents issued by your country.
- Wait for approval.
- Make your first deposit into your local currency wallet on the platform. (Note that this step differs depending on the exchange site).
- Go to assets and locate your XRP wallet.
- Click on Buy Crypto.
- Confirm the amount of XRP you want to buy, then proceed.
You might need to set up your account security before making any transaction on the centralized exchange platform.
II). Decentralized Exchange Platforms
As a beginner, there is a lot for you to benefit from using decentralized platforms. This is why I recommend that you use this method to buy your XRP tokens.
Here is how to buy XRP on decentralized exchanges:
- Download a Wallet App (Phantom, Metamask, or Trustwallet)
- Create a new wallet.
- Back up your security phrases for future use.
- Click on any of the major tokens available (i.e. Bitcoin, Ethereum, or Solana depending on the wallet.)
- Buy directly from your bank account using your card.
- Swap the token for the amount of XRP you want to get.
You would agree with me that the above process is as simple as paddling a bicycle; only when you follow it step by step.
Thank you for reading through this guide on how to buy XRP. You can share it with people who would love to start their crypto journey with Ripple coin.
Also, please do not forget to react accordingly and share your ideas on this matter in the comment section.
