How to Buy and Invest in Ripple (XRP)
On this articles you will learn How to Buy and Invest in Ripple XRP
The world is truly going digital and third world countries are definitely not left behind.
Paper currencies which is also known as fiat money is gradually going digital especially with the current rise of Bitcoin (BTC).
Bitcoin is a cryptocurrency (digital currency) amongst many others out there. Bitcoin is not only just a digital money but a decentralized digital money too.
This means that it is not controlled by any bank or financial institution which is the reason many countries distance themselves from the digital decentralized currencies as it can easily be used to fund terrorism without any trace.
Now that we have understood what Bitcoin is and new trend of the digital currency, the list below are the top 5 crypto currencies that are on top.
- Bitcoin (BTC).
- Ripple (XRP).
- Ethereun (ETH).
- Litecoin (LTC).
- NEM (XEM).
All aforementioned cryptos can be traded against each other and that means if you convert any of the other crypto money to Bitcoin which you can easily sell the Bitcoin and make your cash depending on the current price per unit.
Amongst the aforementioned cryptocurrencies, Ripple (XRP) is the only crypto to be centralized and we tend to see it as the greatest rival to Bitcoin (BTC) as it can easily be regulated.
Centralization here means that the government or central banks can trace the transactions that happen on its blockchain.
Wikipedia stated that Ripple is a Real Time Gross Settlement System – currency exchange and remittance network by Ripple. Also called Ripple Transaction Protocol or Ripple protocol, it is built on a distributed open source Internet protocol, consensus ledger and a native currency called XRP (ripples).
I know you wish you could take back the hands of the clock to buy some Bitcoins when it was sold for less than $1 for 1 BTC.
It is this same drive that is pushing new entrants to Ripple and other cryptocurrencies.
How to Store Cryptocurrencies
Each cryptocurrency has a wallet, which can either be online or offline. Most people prefer to have online wallets as its easier to manage.
- Bitcoin can be stored in blockchain.info
- Ethereum can be stored in myetherwallet.com
- Ripple XRP can be stored in gatehub.net
You can search on Google to get information for storing other cryptocurrencies.
How to Buy Ripples XRP
To buy Ripple (XRP) you will need open an account on Gatehub. After submitting all necessary details and documents you should see your Ripple address.
The address is a combination of different characters and can even be likened to your bank account number.
Ripple address could be as shown below;
Once you get your Ripple address the best way to buy Ripple is to buy Bitcoins and convert the Bitcoins to Ripples XRP.
To buy Bitcoins, it’s best to use localbitcoins.com or you can buy from a seller directly, as lots of scammers exists online.
How to Store Bitcoins
It is recommended to store your Bitcoins on blockchain.info
Registration is quick and easy too, once you are registered on Blockchain and you have your address and then you can go ahead to buy bitcoins.
Next, you will have to register on localbitcoins.com – Once that is done, you will see the list of all verified sellers with their Bitcoin rates.
Ensure all transactions are done on the localbitcoins platform to avoid being scammed.
After you have paid and the equivalent, Bitcoin will be sent to your Blockchain.info address, which you can then use to get Ripples XRP.
If you choose not to buy Ripple you can always keep the Bitcoin in your wallet while you wait for the price to appreciate and then sell it later.
The Bitcoin can also be used as mode of payment across several online platforms globally.
How to convert Bitcoin to Ripple XRP
To convert your Bitcoin to Ripples or to any other cryptocurreny the 3 platforms below are most recommended.
- Shapeshift.io does not need any form of registration and it is the easiest to use.
- Changelly.com needs registration and also very easy to use.
- Poloniex.com needs registration.
On either shapeshift.io or changelly.com all needed to do is to select Bitcoin as the cryptocurrency you have, and then select Ripples XRP as what you want.
If you are in need of other need cryptocurrencoes which you have the wallet then you can change from BTC to it also.
You will be asked to provide the Ripple address you want your XRP sent to, shapeshift.io has an option of a refund address if the exchange fails, you will get have your Bitcoin returned immediately.
Once details have been provided, an address is displayed where you should send your Bitcoins to, immediately you send it the exchange will be done in less then 30 mins. You can now login to your Ripple wallet to confirm the sent amount.