Where & How to Buy XRP (XRP) for Beginners in 2024

Use our step-by-step guide to learn how and where to buy XRP on 5+ highly rated crypto platforms.
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Updated: Jul 15, 2024
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XRP coins are available buy via a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy XRP this way. Follow our quick step guide below.

How to buy XRP quickly in 3 steps

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To buy XRP you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.

Step 1. Sign up to a crypto platform

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We’ve ranked eToro as the best crypto platform to get started with. Alternatively, there are several other options to select from below. Anyway, create an account and supply a copy of your photo ID for verification.

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1
Min. Deposit
80 €
Best offer
User Score
9.9
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world’s leading social trading and investing platform
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2
Min. Deposit
Best offer
User Score
9.8
Offers maximum flexibility for crypto trading strategies.
Responsive customer support through various channels, including live chat, email, and a comprehensive help center.
Wide range of trading options, including spot trading, margin trading, and futures contracts.
Start Trading
Payment Methods:
Debit Card, Credit Card, Visa, Mastercard, American Express, Apple Pay, Google Pay, Discover
Full Regulations:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
3
Min. Deposit
Best offer
User Score
8.6
Coinbase offers an extensive selection of cryptocurrencies, allowing users to diversify their portfolios.
Supports users from over 100 countries including the US and Canada
Employs robust security measures, including cold storage, to safeguard users’ crypto holdings.
Start Trading
Payment Methods:
Bank Transfer, Debit Card, Wire Transfer, Apple Pay, Google Pay, Bank Transfer: SEPA, Interac e-Transer
Full Regulations:
Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

Step 2. Make a deposit

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Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as $100 on most services.

Step 3. Buy XRP token

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Locate the search box and type XRP. Once you locate the coin trading page, enter how much money you want to spend and hit ‘trade now’.

Now you own XRP tokens! Not a big deal, right?

Where to buy XRP easily

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The overall best platform to buy XRP for beginners is eToro .

Here are the top five places to buy XRP, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.

  1. eToro: Best for beginners, copy-trading & demo-account
  2. Kraken: Best for simple, global cryptocurrency trading from your phone
  3. Coinbase: Best secure trading platform for all types of trader
  4. Nexo: Best for earning interest & rewards
  5. OKX: Best for futures and margin trading

Read more about how we rate, rank and review platforms.

Best exchanges to buy XRP (XRP), reviewed

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1. eToro. Best for beginners, copy-trading & demo-account

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1%

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s a crypto trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.

The far-reaching catalog of 100 cryptocurrencies includes big names like Bitcoin and Ethereum, as well as smaller crypto tokens with high growth potential. Some supported tokens can be seamlessly transferred to the eToro Money crypto wallet for safekeeping.

One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. eToro crypto’s Smart Portfolios offer a great entry point into digital currencies, an opportunity to learn and potentially benefit from the expertise of more experienced traders.

If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across the 100 crypto tokens available.

Highlights

Visit eToro eToro Review

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2. Kraken: Best for simple, global cryptocurrency trading from your phone

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0.10% – 0.26% (volume dependent)

Fees

$10

Minimum deposit

200

No. assets

Yes

Demo/virtual account

Pros & Cons

Cheap/ free deposits in EUR and cheap deposits for the USA Margin trading and Futures supported Transparency – it was the first exchange to carry out proof of reserves Low fees in comparison to other exchanges
Catered towards professional traders with large trading volumes Slow account verification in comparison to other brokers

Overview

We love Kraken because it’s a beginner-friendly crypto trading platform, one that’s designed to make it quick and convenient to buy and sell crypto on the go. The Kraken mobile app provides access to over 200 cryptocurrencies making it one of the most diverse platforms around. 

With an intuitive interface and many advanced features, the Kraken crypto app is suitable for those just starting, or experienced traders wanting to enhance their trading experience. The Kraken mobile app caters to different trading styles and preferences with spot, margin, and futures all available. 

Kraken’s mobile app also supports up to 5:1 leverage allowing you to amplify your position and potentially increase your returns. With such a wide selection of tokens available and a solid range of features and tools, the Kraken app is one of the top cryptocurrency trading platforms while on the go. 

The fees: Kraken charges a fee of between 0-0.26% on every crypto trade. There are no costs to set up an account and no flat trading fees.

Highlights

Visit Kraken Kraken Review

3. Coinbase. Best secure trading platform for all types of trader

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Up to 0.6%

Fees

$10

Minimum deposit

200

No. assets

No

Demo/virtual account

Pros & Cons

Simple and easy to use interface Able to buy cryptocurrencies instantly with a credit or debit card Offers great security on its wallet Can use a variety of payment methods
Quite high fees for credit and debit card instant buys Poor customer support

Overview

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. There is insurance on all cash balances up to $250,000 and the majority of assets are stored offline in cold storage.

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Highlights

Visit Coinbase Coinbase Review

4. Nexo. Best for earning interest & rewards

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Fees

Minimum deposit

No. assets

No

Demo/virtual account

Pros & Cons

Offers excellent rates of interest on crypto and fiat savings Nexo debit card makes it easy to access and spend your funds Access crypto loans and collateral Equipped with top quality security infrastructure and insured
No anonymous option, your identity must be verified to place buy and sell orders Margins calls if the value of your collateral drops between a certain level

Overview

We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.

You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest. 

The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee. 

Highlights

Visit Nexo Nexo Review

5. OKX. Best for futures and margin trading

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Fees

Minimum deposit

No. assets

No

Demo/virtual account

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods
Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Highlights

Visit OKX OKX Review

How to trade XRP

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You can trade XRP on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how XRP crypto trading works:

  1. Monitor the price: For simplicity, let’s say the price of XRP/USDT is $1. You read the price charts and decide that now is a good time to start purchasing XRP.
  2. Open a trade: You trade one USDT for one XRP ($1 USD for 1 XRP).
  3. Continue to monitor the price: The following month, one XRP token is now worth $2, a 100% increase.
  4. Close your trade: You trade your XRP token back to USDT for $2.

In this example, you buy and sell XRP, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend countless hours learning to trade, reading charts, technical patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.

What is the best way to pay for XRP (XRP)?

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The simplest way to buy XRP cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for XRP.

  • Buy XRP with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
  • Buy XRP with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a $1 fee, and these transactions are more or less instant as they run through the Automated Clearing House (ACH) in the US, Faster Payments System (FPS) in the UK, or Single Euro Payments Area (SEPA) in Europe.
  • Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.

How do I store XRP (XRP)?

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Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of XRP then you should move it to a crypto wallet.

A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best XRP wallets to use are MetaMask and the Ledger Nano S.

Is now a good time to buy XRP?

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The answer depends on the current price and your own investment goals. Put simply, buying XRP, selling XRP, and trading XRP are all the exact same process in literal terms. It’s really just your personal investing intentions that defines whether ‘now’ is a good time to invest or not.

  • If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #HODL a coin long term in the hopes of larger profits. In this sense, any time is a good time to trade XRP.
  • As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of XRP, then a good time to purchase XRP is on any major dip.

In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying XRP and selling it the next day probably isn’t why you’re here either.

How has XRP (XRP) performed this year?

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The current XRP price today is $0.53, which is -86.24% versus its all time high of $3.84, which it reached on 04 January 2018. XRP is -31.31% this year, with a 52 week high of $0.85 and a 52 week low of $0.39. 

Regardless, closely following XRP price news & analysis will help you decide when to pull the trigger.

Is Ripple (XRP) a good investment?

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Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Ripple and its token to help you decide whether to invest in XRP.

  • XRP can process transactions in seconds. Transactions using XRP are extremely fast compared to traditional financial services like banks and even other cryptocurrencies. Transferring money using a bank can take days and using Bitcoin can take several minutes. When using XRP, settlements take just five seconds. 
  • XRP is more environmentally friendly compared to other cryptocurrencies. XRP is one of the least energy-intensive cryptocurrencies. XRP consumes only 0.0079 kWh per transaction, just 0.00112% of the 707 kWh Bitcoin consumes. As environmental issues become more important, lower energy-consuming coins like XRP may benefit. 
  • The amount of coins in circulation is constantly falling. XRP is a deflationary coin and the number of tokens in circulation constantly decreases. This is because it was premined, which means all one billion of its tokens were mined before it launched. Every time a transaction occurs on the Ripple network, a small number of coins are destroyed forever, which in time will increase scarcity and ultimately value. 
  • Ripple is a private company. The cryptocurrency is built on taking control away from banks, governments, and large institutions, where no single entity controls a project. That’s not the case with Ripple, which is a private company and highly centralised, which goes against the wider crypto industry’s philosophy of decentralisation. 
  • Ripple is involved in a lawsuit with the SEC. In 2021, the Securities and Exchange Commission in the United States filed a lawsuit against Ripple, claiming it should be filed as a security. This resulted in a number of exchanges de-listing XRP from their platforms and until these legal issues are resolved, the future of Ripple could be uncertain. 

Use this quick summary of pros and cons to compare Ripple with other, similar projects.

Pros

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  • Ripple is now partnered with over 200 banks
  • Ripple’s minimal transaction costs should save banks a lot of money
  • The use of Ripple isn’t just limited to banks; regular people can use it too, driving its adoption

Cons

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Ultimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.

FAQs

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Where can I buy Ripple (XRP)?
What do I need to buy XRP?
Is XRP on Coinbase?
Is XRP on Binance?
Is XRP on eToro?


Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.