Ripple (XRP) made its name as one of the early players in the crypto sector. The Ripple network is designed to streamline cross-border payment processes, enabling fast, low-cost transactions. One of the most popular exchanges for buying and trading Ripple is Binance. In this guide, we will walk you through the steps on how to buy XRP on Binance.
Where to buy Ripple?
Some of the most popular exchanges to buy XRP include Binance, KuCoin, Kraken, and PancakeSwap. When choosing an exchange to buy XRP, it's important to consider factors such as fees, security, user interface, and supported payment methods. It's also important to note that some exchanges may not be available in certain countries or regions.
Step-by-Step Guide on How to buy Ripple:
Follow the below steps to buy Ripple using the Binance exchange. Aside from buying and trading Ripple (XRP), you can also stake XRP to earn passive income.
Step 1: Register for a Binance account
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The first step is to register for a Binance account, if you already have a Binance account, you can skip this step.
To register, visit the Binance website and click on the "Register" button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also simply use the main sign-up with an email or phone option.
After completing this step, you will receive an email confirmation from Binance.
Create an account using your personal phone number or email address on Binance. Registering as an entity if you are looking to buy Ripple as a Limited company business on the Binance exchange is also an option.
Step 2: Verify your identity on Binance
Before you can buy XRP on Binance, you will need to verify your identity. To do this, click on the "Profile" button on the top right-hand corner of the page and select "Identity Verification."
Follow the instructions provided by Binance to complete the verification process.
To complete your Binance registration process and start buying crypto on the Binance platform, you must submit a valid government-issued passport or Driving license based on your country of residence.
Step 3: Buy XRP
There are numerous ways to buy Ripple on the Binance exchange, and it all comes down to your preference. We will explore some popular ways to buy Ripple on Binance.
Option 1: Fund your Binance account with crypto
This method is helpful for anyone who owns crypto in other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Ripple with Bitcoin, as Binance supports trading BTC/XRP pair.
After verifying your identity, you can fund your Binance account with Crypto. To do this, click on the "Deposit" button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy XRP.
On the deposit Crypto page, choose the crypto (in this case, we have selected bitcoin) and its network. Binance will generate a bitcoin address to deposit your BTC. Copy the deposit address and initiate a withdrawal on the withdrawal platform. Once the transaction is confirmed in the network, Binance will credit the Crypto for you.
Convert Bitcoin Crypto to Ripple (XRP)
After transferring your crypto Binance account, hover over the Trade menu at the top menubar and click on Binance Convert, where you can convert your crypto to XRP.
There are two ways to convert your crypto to XRP: Market order or Limit order.
Buying XRP with market order: Market order allows you to convert your assets at the current market price based on the quoted price in the conversion.
Buying XRP with limit order: A limit order allows you to place an order to convert your assets at a specified limit price. However, limit orders are executed subject to market conditions and may not be completed even if the market price reaches or crosses your limit price momentarily.
The above screenshot shows an example of placing a limit order to buy Ripple using BNB. You can click on the bars icon next to the limit button to show the price chart of your selected crypto convert pair. Click on Confirm order to get 900 XRP tokens into your account.
Congrats! You have now bought Ripple by funding your Binance account with crypto and using Binance Convert.
Option 2: Fund your Binance account with Fiat
This option is beneficial if you prefer to fund your account with your preferred fiat currency beforehand. Customers can fund their Binance account with fiat currency via direct bank transfer or credit/debit card.
When using the Bank transfer method to fund your account, make sure to follow the below tips:
Your bank account name must match the name registered to your Binance account.
Please include your full name in your bank transfer's Reference/Remark section.
If the deposited amount exceeds your daily limit, Binance will divide the total payment based on your maximum daily limit.
After funding the account with fiat currency, it will be stored as your cash balance on the Binance account. Using the deposited fiat currency, you can now buy crypto using the buy crypto with Cash Balance tool.
As shown above, buy Ripple immediately with your preferred fiat currency! You will get an estimated price of XRP based on the currency of choice, and you simply enter the desired amount of XRP to buy and confirm the order.
Congrats! You have now bought XRP by funding your Binance account with fiat currency and using a Binance Cash balance.
Option 3: Buy Ripple with a Credit/Debit Card (Popular method to buy Ripple)
To buy XRP on Binance using a Credit or Debit card, navigate to the Buy crypto via card page using the top navigation menu.
On the buy crypto with card page, you will see various options to choose the fiat currency to buy Ripple. Enter the desired amount of XRP tokens to buy and click Continue.
Alternatively, you have the choice to buy XRP with Binance recurring plan.
Recurring plan is a great option for regular traders. This method allows you to invest a pre-determined amount and accumulate your crypto holdings over time. If you are committed to the long-term growth of Ripple and bullish on its future price predictions, this is a great way to DCA into the Ripple project.
In the payment method section, if you just created your Binance account, add the card details you will use to purchase XRP.
Once you have entered the card details, you must review the order details to ensure they are correct. If everything looks good, click the "Buy XRP" button to complete the purchase.
Congrats! You have now bought XRP by funding with your Credit/Debit card!
Step 4: Buy Ripple Coin
Buy Ripple with Paypal: Binance does not currently support purchasing Ripple (XRP) directly with PayPal. However, you can still use PayPal to buy cryptocurrencies on other platforms and then transfer those funds to your Binance account to purchase Ripple. Other exchanges, such as Coinbase support Paypal payment methods to buy crypto. If you have an existing PayPal account, you'll be able to start making transactions on Coinbase right away.
Buy Ripple with a credit card on Binance exchange: To Add a credit card, Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card". Follow the prompts to add your credit card details.
Buy Ripple with Debit Card: To Add a debit card: Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card". Follow the prompts to add your debit card details.
How to Buy Ripple with Apple Pay and Google Pay on Binance
The following steps will guide you through how to buy Ripple using Apple Pay & Google Pay.
- Log in to your Binance account and click Buy Crypto with Credit/Debit Card.
2. Select the fiat currency according to your country and then select Ripple crypto to buy from the list. Enter the amount and click Continue.
3. After choosing XRP to Buy, Select Apple Pay or Google Pay as the payment method.
4. Once you have successfully added/chosen your credit/debit card, click Confirm to proceed. Check the payment details carefully and confirm your order within 1 minute, or else after the 1-minute mark, the price and the amount of crypto will be recalculated. You can click Refresh to see the latest market price.
Congrats! You have now bought Ripple on Binance using your preferred Google or Apple pay.
Step 5: Withdraw XRP from Binance
After buying XRP on Binance, you may want to withdraw it to a hard or soft wallet you control. To do this, click the "Withdraw" button on the top right-hand corner of the page. You will then be prompted to enter the wallet address to which you want to withdraw your XRP. Ensure you enter the correct address, as transactions on the blockchain are irreversible.
You must also enter the amount of XRP you want to withdraw. Once you have entered the correct wallet address and the amount of XRP you want to withdraw, click on the "Submit" button. Binance will then process your withdrawal request, and your XRP will be sent to the wallet address you provided.
Tips for buying XRP on Binance
- Always double-check your order details before placing a trade to ensure everything is correct.
- Consider using the "Limit" order type instead of the "Market" order type when buying XRP. With a limit order, you can set the price you are willing to pay for XRP, whereas with a market order, you will pay the current market price for XRP, which may not be the best price.
- Consider using two-factor authentication (2FA) to enhance security after registration.
10 reasons to buy Ripple right now
Should I buy Ripple? If you are considering whether you should buy Ripple or not, then the below points may provide some clarity about the project.
- High Transaction Speeds: XRP is designed to facilitate fast and efficient cross-border transactions, with transaction speeds of around 4 seconds.
- Low Transaction Fees: XRP transactions come with low fees, making it an attractive option for sending small amounts of money internationally.
- Strong Adoption: XRP is trusted by a number of large financial institutions and payment providers, which can help support its long-term value proposition.
- Ripple: The rising value of XRP is closely tied to Ripple's reputation, given that Ripple is a prominent blockchain technology company known for its impressive history of innovation and development.
- Liquidity: XRP has a large and active market with high trading volumes, providing liquidity for investors and traders.
- Decentralization: The Ripple network is designed to be decentralized and not controlled by any single entity.
- Interoperability: XRP is designed to be interoperable with other cryptocurrencies and blockchain networks, allowing for greater flexibility and integration with other systems.
- Use Cases: XRP has potential use cases beyond cross-border payments, including in areas like micropayments, remittances, and e-commerce.
- Investment Potential: XRP has historically been one of the best-performing cryptocurrencies, offering the potential for significant investment returns.
- Regulatory Clarity: XRP has received regulatory clarity in several jurisdictions around the world, which can strengthen confidence and stability for investors and users.
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How to buy XRP in the Philippines?
Choose a cryptocurrency exchange that supports XRP trading. Binance is one of the best places to buy XRP in the Philippines. Binance is also one of the cheapest ways to buy XRP in the Philippines.
How to buy XRP in India?
Binance is one of the best places to buy XRP in India. Binance is also one of the cheapest ways to buy XRP.
Where to buy XRP in the UK?
Choose a cryptocurrency exchange that supports XRP trading. Binance is one of the best places to buy XRP in the UK.
How to buy XRP in Australia?
Binance is one of the best places to buy XRP in Australia. Binance is also one of the cheapest ways to buy XRP.
How to buy XRP in Brazil?
Choose a cryptocurrency exchange that supports XRP trading. Binance is one of the best places to buy XRP in Brazil.
Where to buy XRP in the US?
Choose a cryptocurrency exchange that supports XRP trading. Coinbase is one of the best places to buy XRP in the US.