Are you thinking of buying Ripple, but the procedure escapes you and you would like to know more about the potential of this cryptocurrency? With this guide, learn how to easily invest in crypto XRP with eToro, as well as information about Ripple in 2023.
What is the recommended platform to buy Ripple?
For buy ripple, the choice of the crypto platform is decisive. It is important to consider factors such as fees for buying and withdrawing XRP, additional services offered, security, and user interface.
If you are new to investing in cryptocurrencies, it is recommended that you choose an ergonomic platform to acquire Ripple with ease.
For neophytes, eToro is a recommended platform for buying XRP because it is extremely easy to use: you can become the owner of XRP crypto with just a few clicks.
Buy Ripple on eToro »
The table below will help you further in your choice by presenting the most important factors of 3 different major exchanges to invest in Ripple.
How to buy Ripple with eToro
Buy XRP Crypto on eToro is a simple process. and fast. The platform is registered as a PSAN with the Autorité des marchés financiers (AMF), which guarantees a certain level of confidence for French investors.
To get started, click on the following button (affiliate link) to create an account on eToro, then click on ” start investing “.
Buy XRP with eToro »
Once your account is created, you must complete a questionnaire on your investment knowledge. The next step is to have your account verified with an ID and your phone number.
Your eToro account is now ready to use, you can add funds to it by clicking on ” Make a deposit in the middle of the dashboard.
To buy XRP, you must first deposit euros into your eToro wallet. For this, 2 payment methods are available, credit card and bank transfer. The deposit fees are the same for both methods (1%) so the rest of this guide will focus on a deposit with a bank card, which is faster.
To make a deposit with a credit card, enter the desired amount, fill in the required information and click on ” Deposit »
Then wait a few moments for the funds to be available in your eToro wallet. Then just search for “ XRP ” Or ” Ripple » at the top of the page and click on « invest » :
Enter the amount you want to invest in XRP crypto, for example 100 dollars, then click on “ Invest “. Note that even if you have euros on the platform, these will be directly converted into dollars.
Cheer ! You have just become the owner of XRP tokens of the Ripple blockchain !
👉 Need more detailed explanations? Here is our opinion and complete tutorial on eToro
Alternative platforms to buy XRP
XRP is a very popular cryptocurrency in the market and can be purchased on various exchanges such as Bitpanda and Binance.
Each of these platforms has its strengths and weaknesses, as well as a distinct interface. Some also offer additional features, such as stakingallowing investors to generate passive income with XRP.
Brief introduction to Ripple
THE XRP is here native cryptocurrency of the XRP Ledger blockchain (XRPL). This was created more than 10 years ago by the company Ripple and is one of the pioneers of the sector, alongside Bitcoin and Litecoin.
XRP logo, styled by Cryptoast
The goal of Ripple, which is behind the project, is to provide secure, fast and inexpensive financial transactions using XRP. In the long term, Ripple wants replace the SWIFT protocolwhich you may have already used if you sent money abroad.
To validate transactions, the protocol uses a consensus algorithm called Ripple Protocol Consensus Algorithm. This consensus makes it possible to validate transactions in a secure manner via a voting system.
Ripple selects validators that operate on the network (mostly companies) and also establishes the rules they must follow. Thus, as the protocol is managed entirely by a centralized entity, XRP is a centralized cryptocurrency.
This allows the Ripple protocol to process up to 1,500 transactions per second. Additionally, XRP’s transaction fees are very low and fund transfers are completed in just seconds.
👉 Find out more in our in-depth analysis on Ripple (XRP)
Is it worth buying Ripple in 2023?
XRP ranks among the top 10 cryptocurrencies in terms of capitalization for a decade. This is an exceptional performance for a crypto-asset despite the bear market phases that the market has gone through and the controversies that have surrounded Ripple.
In February 2023, XRP is in 6th position among the most valued cryptocurrencies, with a price of 0.39 dollars.
During the bull markets of 2017 and 2021, the price of XRP exploded upwards twice, and despite the fall in its price in the following years, Ripple’s crypto remained at a very correct level, allowing it to stay in the top 10.
Nevertheless, it is important to consider whether this situation can happen again in the future.
The answer will depend on the outcome of the lawsuit against Ripplethe company behind XRP, and the Security and Exchange Commission (SEC)the US financial regulator.
Since 2020, the evolution of this trial influences the price of XRP. It is therefore crucial for any investor wishing to own or owning XRP to follow the course of this trial, because a decision in favor of the SEC would have negative consequences for Ripple’s cryptocurrency price.
On the other hand, a favorable decision for Ripple could push the price of XRP to new highs, especially since its protocol is used by large financial institutions.
In conclusion, it is highly recommended to conduct thorough research on Ripple before making an investment decision.
Buy Ripple Crypto »
FAQ: frequently asked questions about Ripple
Ripple creation date?
The XRP Ledger blockchain was deployed in 2012 by 3 engineers: David Schwartz, Jed McCaleb and Arthur Britto. It is one of the oldest projects in the cryptocurrency industry.
What are the use cases of the XRP token?
The XRP token is used for transactions, so for transfer funds quickly and inexpensively. It also allows you to pay the low network costs.
How to protect your XRP tokens?
If you want to secure your XRP tokens, you will need a digital wallet supporting the Ripple network like Xumm.
For added security, you have the option of storing your XRP tokens in a physical wallet like those of Ledger.
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Master student in International Finance, I have been interested in cryptocurrencies since June 2017 and more particularly in fintech and decentralized finance. I aspire to make my contributions interesting for readers of all levels.
