Best Place to Buy XRP in 2024

Best Platforms to Buy Ripple (XRP) in 2024

There are many platforms available for buying Ripple (XRP) in 2023, catering to the needs of diverse investors and traders. In this article, we will be exploring some of the best and most reliable platforms that have stood out in terms of security, user experience, and overall functionality, ensuring you make the right choice for your XRP investment journey.

ByBit - Best Platform for Active Ripple (XRP) Trading

Bybit Review

Open an account

Your capital is at risk.

Bybit stands out as a platform providing active trading opportunities for Ripple (XRP) via both spot and futures trading. With Bybit's spot exchange, users can purchase, exchange, and sell XRPUSDT and XRP/USD pairs at competitive fees and with ample liquidity. Additionally, Bybit presents various futures contracts for XRP, such as XRPUSD0625 and XRPUSD0924.

The trading fees on Bybit differ based on the trade type and the transaction volume. Spot trading fees range from 0.1% to 0.15%, while fees for futures trading span from -0.025% to 0.075%. Bybit also provides a real-time price index for XRP, displaying its current price, market cap, and associated chart.

Bybit supports staking for multiple cryptocurrencies, including Ripple (XRP). By staking their XRP on Bybit, users can receive rewards and generate passive income, although the precise earnings from staking Ripple on Bybit are unspecified. The platform also features a savings option that enables users to accrue interest on their preferred coins, including XRP, through both flexible and fixed-term plans.

Huobi Global - Best XRPUSDT Futures Contracts

Huobi Review

Open an account

Your capital is at risk.

Huobi Global provides Ripple (XRP) trading opportunities in both spot and futures markets. With over 700 cryptocurrencies available for trading in the spot market, Huobi Global also presents XRPUSDT futures contracts in the futures market. The trading fees for Ripple on Huobi Global differ based on the market, either spot or futures.

For spot trading, Huobi Global levies a maker fee and a taker fee of 0.2% each. Meanwhile, futures trading incurs a 0.02% maker fee and a 0.03% taker fee. XRP futures contracts on Huobi Global are USDT-settled, and traders can select from weekly, bi-weekly, or quarterly contracts. With leverage up to 125x, these contracts enable traders to magnify their gains or losses.

Huobi Global supports XRP staking, allowing users to earn rewards by holding XRP on the platform. Additionally, the platform features a copy trading option that enables users to follow and replicate expert traders' moves, helping beginners learn from experienced traders and potentially earn profits by mimicking their trades.

The platform also hosts a copy trading contest, where participants can compete for a share in a prize pool worth up to $50,000. Rewards are credited to the winners' futures accounts within ten working days following the competition's.

RoboForex - Best for XRP CFD Trading

RoboForex Review

Open an account

Your capital is at risk.

RoboForex is a versatile trading platform that provides CFD trading for a variety of assets, including cryptocurrencies like XRP. CFD, or Contract for Difference, is a trading approach that involves speculating on an asset's price movements without actually possessing the asset. This allows traders to potentially profit from both increasing and decreasing prices of the underlying asset.

A key advantage of trading XRP through CFDs is the capacity to utilize leverage, which can amplify potential gains for experienced traders. However, it is crucial to recognize that leveraging also escalates the risk of losses. With RoboForex, traders have access to over 2,000 CFD contracts on stocks, Forex, and crypto CFDs, featuring up to 1:100 leverage.

KuCoin - Best Platform to Stake Ripple

KuCoin Review

Open an account

Your capital is at risk.

KuCoin is a centralized cryptocurrency exchange supporting over 650 crypto assets, including Ripple (XRP). This exchange provides a range of investment products such as derivatives, margin trading, staking, and lending, making it an ideal choice for advanced users. KuCoin's platform is designed to be user-friendly and boasts numerous advanced trading features like Bitcoin margin trading, futures trading, and staking.

The exchange also introduces the KuCoin Shares (KCS) token, granting holders various perks, including discounted trading fees and a portion of the platform's profits. KuCoin's fees are highly competitive in the industry, appealing to crypto enthusiasts interested in trading a wide variety of digital assets at affordable rates. Spot trading fees for XRP on KuCoin are 0.0065% for makers and 0.0193% for takers.

While the exchange provides futures trading, the specific futures contracts available for XRP remain unspecified. KuCoin also supports staking for XRP, enabling users to earn rewards by holding their XRP on the exchange. You can get about 3% APY for staking XRP on Kucoin.

Can I Buy XRP on Coinbase?

Unfortunately, Coinbase users cannot purchase XRP directly from the Coinbase exchange. Earlier in 2023, Coinbase suspended trading, buying, and selling of XRP after the Securities and Exchange Commission (SEC) in the US accused the company behind XRP, Ripple, of pulling into over $1 billion in profits through offering digital asset securities that were not officially registered with the SEC. Still, XRP enthusiasts can still send and receive XRP on the platform, but XRP cannot be traded or converted with fiat trading pairs.

How to Transfer XRP from My Coinbase Account?

If you have a Coinbase account and still have XRP sitting around, you can actually transfer it out to another platform like Binance or Kraken.

It’s as easy as that! In most cases, the transfer will be instant, but it could also take a few days for everything to settle and show up in your account. The process is virtually the same for transferring XRP from Coinbase to Kraken as well.

Will Coinbase Renew XRP Trading?

Probably not. Coinbase suspended trading and deposits in XRP back in January of 2023. Traders can withdraw and access their wallet’s XRP after the trading suspension, but it is not likely for XRP to return to Coinbase. Still, some crypto enthusiasts believe a settlement could result in XRP returning to Coinbase. We would recommend going to other exchanges that support XRP instead if you are dead set on trading XRP.

How to Store XRP?

In general, any type of crypto, including XRP, can be stored in hot wallets or cold wallets. Hot wallets are usually offered by exchange platforms and brokers. Hot wallets could be considered “live” on the network, so users can buy, sell, and trade their XRP whenever they please. However, hot wallets may not be a good idea for traders who want to buy and hold their XRP for an extended amount of time, as hot wallets are much more susceptible to fraud and hacking. For buy and hold traders, a cold wallet would be a much better choice. Cold wallets are offline storage devices for cryptocurrency that remove all access to a network, thus keeping one’s cryptocurrency as safe as possible.

How to Buy Ripple (XRP) in 4 Steps

Purchasing Ripple (XRP) is a straightforward process that you can complete in just a few steps. In this guide, we will provide a platform-agnostic method to help you buy Ripple (XRP) effortlessly:

Research and Choose a Platform

Start by researching various cryptocurrency exchanges or platforms that support Ripple (XRP) trading. Compare their fees, security features, and user experience to select the one that suits your needs best.

Create an Account and Complete Verification

Register for an account on your chosen platform and complete the required identity verification process, which may include providing personal information and submitting identification documents.

Deposit Funds

Fund your account by depositing your preferred currency, either fiat (like USD, EUR, or GBP) or cryptocurrency, depending on the platform's options.

Buy Ripple (XRP)

Navigate to the trading interface on your chosen platform, locate the XRP trading pair (e.g., XRP/USD or XRP/BTC), and enter the desired amount of Ripple you wish to purchase. Confirm your order, and once executed, your XRP will be available in your account.

Top 10 Best Cryptocurrencies to Invest in

Our experts at Traders Union have compiled a rating of the best cryptocurrencies to invest in, based on such criteria as performance, technology, popularity among investors, total returns, etc. XRP is at the top three of our list, but we recommend creating a diversified portfolio of different cryptocurrencies if you would like to see your investment grow more steadily. Just as well, many of these cryptocurrencies have their own benefits and unique blockchain attributes, just as XRP does.

Disclaimer:

The information in this article is provided by the team at Traders Union specifically for educational purposes only. This guide is absolutely not a call to purchase a particular asset or cryptocurrency. Remember that cryptocurrencies have high volatility and are considered an asset with an increased risk. No individual should put more into cryptocurrency investment than they can afford. We recommend conducting a risk assessment of your current capital to determine just how much you want to, or should, contribute to a cryptocurrency portfolio.