- Ripple Labs is an American technology company that develops the Ripple global payments settlement system and currency exchange network.
- Ripple (XRP) is the native cryptocurrency that powers fund transfers over the RippleNet (Ripple Network).
- Ripple's network can facilitate transfers of commodities including fiat currencies, cryptocurrencies, and even gold.
If you want to invest in Ripple, this step-by-step guide will take you through the process of buying Ripple in the UK today.
Not sure which exchange to use?
Where to buy Ripple
On website
Binance
Highlights
- Sign up on Binance to get a 100 USDT cashback voucher. Terms and Conditions apply.
- Trade over 50 cryptocurrencies with low trading fees.
- Uses state-of-the-art storage technology to protect your cryptocurrency and GRB assets.
- Earn rewards for holding coins and tokens.
Pros
Cons
On website
eToro Crypto
Highlights
- Trade and stake a range of crypto assets with low fees.
- Copy successful traders. Practice with a demo account.
- eToro is regulated by CySec, FCA and ASIC.
Disclaimer: Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply. Please give the risk warning sufficient screen time and prominence.
Pros
Cons
On website
Uphold Crypto
Make sure you meet the following criteria before applying.
Application requirements:
Uphold Crypto
Highlights
- Invest in 110+ coins including the majors, altcoins, and stablecoins with 0% commission.
- Ability to trade crypto against other assets like foreign currency and commodities.
- Stake a range of coins with competitive yields.
Pros
Cons
On website
Finty may be compensated when you click on the link.
Highlights
- Get £5 in Bitcoin with your first trade on Coinbase.
- Buy and sell popular digital currencies, and keep track of them in the one place.
- Invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly.
- Crypto stored on Coinbase servers is covered by an insurance policy.
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.
Pros
Cons
On website
CoinJar
Highlights
- Trading fees are 0% - 0.1% on CoinJar Exchange and 1% on CoinJar.com and mobile apps.
- Trade over 50 cryptocurrencies including Bitcoin, Ethereum, Ripple, Shiba Inu, Dogecoin, Solana, and Cardano.
- Free GBP deposits and withdrawals (bank transfers), 2% fee on credit/debit card crypto purchases.
- Earn CoinJar Rewards when you spend your crypto with a CoinJar Card. Free to activate, no monthly charges.
Pros
Cons
First time buying?
How to buy Ripple
Step 1: Choose an exchange that sells Ripple
You must first choose an exchange to use before buying XRP. Before depositing money into a cryptocurrency exchange, there are some things to look at and consider. Make sure the coin you want to buy is listed, check available deposit methods, whether the exchange supports your preferred payment method to buy Ripple, what fees they charge on trades, and if they charge to withdraw funds.
Step 2: Register and get verified
Once you've decided which exchange to use, you'll need to register an account with them and verify your identity. What information the exchange requires varies but generally includes your full name, date of birth, and address. In addition, a copy of a form of government-issued ID may also be required to complete verification.
Step 3: Fund your account
You can fund an exchange account with fiat or cryptocurrency. Most exchanges support fiat currency (GBP) transfers from a bank account or credit card. Payments via PayPal may also be available. Fiat currency transfers may take several days to clear into your account at the exchange. Another option is to transfer cryptocurrency from a wallet you already control (but this could incur processing fees). Note that some exchanges may require a minimum deposit amount before you can start to buy.
Step 4: Set yourself a budget
Decide how much you want to put into Ripple and stick to it. Crypto is a volatile asset class. It's possible to lose a substantial amount of your money in a relatively short period of time. Therefore, it's best to invest only what you are able to afford to lose.
Step 5: Buy Ripple
The most convenient way to purchase is to use a market order, i.e. purchase Ripple at the next price. If you want to build your position in Ripple, some exchanges make it possible to dollar cost average with recurring buys.
After you buy
Where to keep your Ripple
If you want to steer clear of malware and hacking, store your XRP tokens in an offline or cold wallet (also known as a hardware wallet). However, if you want to keep your XRP convenient so you can trade more easily, keep it in the exchange's wallet.
