Note: The purchased Ripple will be stored in the inbuilt eToro wallet account. You are, however, free to move them to the eToro wallet app from whence you can transfer them to third-party wallets. Additionally, the name on your preferred payment method (card, bank, or eWallet) MUST be similar to the name used to create and verify the eToro account.
2. Capital.com – Best Ripple Trading Platform for CFD Trading
76% of retail CFD accounts lose money
The Capital.com broker is a world-leading CFD trading platform for conventional products like shares or commodities and cryptocurrencies like Ripple. It stands out because of its competitive trading fees and the one-click trading experience on an AI-powered trading platform. Currently, Capital.com features three Ripple CFD pairs – XRP/USD, XRP/EUR, and XRP/BTC.
The account creation process on Capital.com is quick and straightforward. Identity verification is mandatory for all, but the XRP CFD trading services aren’t available for US residents or retail traders in the UK. Traders in the rest of the 180 countries supported by Capital.com can nevertheless buy Ripple CFDs on the platform by depositing cash using such supported methods as credit cards and debit cards, eWallets (Skrill, Neteller, Apple Pay) Bank Transfer, or Trustly.
The minimum deposit is $20 ($250 for bank transfers) and transfers in and out of the account are free. You only have to pay the processing fee charged by your bank or payment processor, as well as the competitive spreads charged on XRP trades.
Caitla.com is a registered and highly regulated brokerage. Plus all traders get access to a free practice trading account.
Pros and Cons of Buying Ripple (XRP) on Capital.com
Pros
- Capital.com maintains highly competitive and transparent crypto CFD trading fees.
- Has a highly advanced and AI-powered trading platform that is characterized by ultra-fast transaction processing speeds.
- The crypto broker maintains a highly responsive customer support team.
Cons
- You cannot buy Ripple CFDs in the US and UK through Capital.com as neither country supports crypto CFD trading.
- Beginner traders might find the AI-powered platform too complicated and somewhat overwhelming.
- Professional traders may also find the leverage limits of 2:1 offered by Capital.com unattractive.
Our detailed Capital.com review 2023 has more information, check it out!
How to Buy Ripple (XRP) on Capital.com Step By Step
- Visit the Capital.com official website and tap on the “Trade Now” button. Proceed to create a user account and verify your identity.
- Log in to your verified account and on your user dashboard, click on the “Deposit” tab on the bottom left corner of the screen to fund your account.
- Depending on your country of residence, Capital.com will present you with different types of payment methods (typically cards, bank, or eWallets). Choose one and follow the prompts to initiate the deposit and remember that the name on the preferred deposit method must match the trader account name.
- On your user dashboard, use the search button to search for the supported Ripple CFD pairs.
- Decide if you want to go long or short the trade. Use the trade menu to the right of the trading screen to customize the trade by entering the trade amounts, maximum leverage needed, stop loss, and take profit levels.
- Review the trade details, especially the spreads and overnight trading fees, before confirming its execution.
Note: The name of the preferred deposit method MUST be similar to the name of the trading account.
3. Coinbase – Best Ripple Exchange for Beginners
The Coinbase crypto exchange is a pioneer cryptocurrency exchange platform launched in 2012. Over time, it has morphed into one of the largest and most reputable crypto exchanges in the world. It has also become the first crypto exchange in the world to go public. It is available in 100+ countries across the world and you can only buy actual XRP coins on the platform. Beginner traders use the Coinbase main exchange while professional and institutional traders can buy Ripple on Coinbase PRO.
The account creation process is quick and straightforward. Identity verification is mandatory and you cannot buy Ripple anonymously (without ID verification) on Coinbase. On both main exchange and Coinbase PRO, you can buy Ripple worth PayPal, eWallets (Skrill and Neteller), credit card or debit card, Bank ACH for US clients, SEPA and Faster Payments for UK clients, Ideal and Sofort for European clients, and Bank wire transfers for the rest of the world.
The minimum deposit and trade amounts are $50 and $2 respectively. The exchange doesn’t maintain deposit fees but charges transaction fees based on your country of residence and trading volume – typically starting from 0.5%.
Pros and Cons of Buying Ripple (XRP) on Coinbase
Pros
- Coinbase will store your Ripple coin trove in their cold storage and also provide you with a free non-custodial wallet app.
- Coinbase features a highly intuitive user interface that makes it easy to use for beginners.
- Only 2% of client crypto deposits into Coinbase are held in hot wallets and this amount is insured against hacks and other forms of breaching. Deposits by Coinbase US clients are also insured by the FDIC for up to $250,000.
- Coinbase is one of the most liquid crypto exchanges in the world, capable of fulfilling large XRP orders fast.
Cons
- Coinbase maintains one of the most complicated fee structures.
- Unlike equally popular crypto exchanges, Coinbase doesn’t let users buy Ripple anonymously (without ID verification).
- Coinbase has been accused of arbitrary closure of client accounts and freezing of their deposits.
Check out our comprehensive Coinbase review 2023 to learn more.
How to Buy Ripple (XRP) on Coinbase Step By Step
- Visit the official Coinbase website and click on the “Open Account” tab to create and verify your trader account (mandatory).
- Once approved, click on the “Portfolio” tab on the user dashboard and choose “Deposit Funds.” Depending on your country of residence, you will be presented with different payment methods, including cards, banks, and eWallets. Choose one and follow the prompts to fund your trader account.
- On the top right corner of your Coinbase user dashboard, click on the “BUY/SELL” tab and select Ripple from the list of supported cryptocurrencies.
- Customize the trade by entering the amount of Cryptocurrency you would like to buy.
- Click on the “Buy Ripple Instantly” to complete them instantly.
Note: The XRP coins will be stored in the inbuilt Coinbase exchange wallet but can be easily moved to the free Coinbase wallet app or transferred to third-party wallets or exchanges.
4. Binance – Best Ripple Exchange for Low Fees
Binance is the largest cryptocurrency exchange outside the U.S. It is available in 200+ countries and territories across the world. Here, you can buy XRP coins or such ripple derivatives as XRP futures contracts. You can only buy ripple with cash but Futures contracts can also be margin traded with leverages of up to 125X. And most recently, Binance launched a peer-to-peer crypto trading platform on their exchange.
Creating a user account on Binance is easy. Note, however, that Binance is a crypto-to-crypto exchange that only supports crypto deposits. To buy Ripple with eWallets, cards, and bank transfer on Binance, you either have to use the P2P platforms or through third-party exchanges like Moonpay, Simplex, and Shapeshift.
The minimum you can deposit into Binance is largely dependent on your preferred third-party exchange. But the amount typically starts from $150 with the minimum trade amount starting from $1. You can also deposit into Binance using cryptocurrencies and the exchange doesn’t charge any deposit or withdrawal fees. The integrated third-party exchanges will, nevertheless, charge you a reasonable transaction processing fee.
Binance will also provide you with a free inbuilt crypto wallet and allow you to buy Ripple anonymously (without ID verification). However, the maximum XRP you can buy anonymously on Binance per month is capped at the equivalent value of 2 BTC.
Pros and Cons of Buying Ripple (XRP) on Binance
Pros
- Binance maintains an insurance fund to reimburse client deposits in case of a hack.
- It also maintains incredibly low crypto transaction processing fees – as low as 0.02% per trade, plus a 25% discount if you settle this fee using BNB coins.
- The exchange maintains a highly responsive customer support team.
- A large number of registered users ensures that it remains highly liquid and can fulfil even the largest orders.
Cons
- One may consider its user interface to be too complicated for a beginner crypto trader.
- Binance does not offer client support via the phone.
- Binance is not available in seven U.S States.
Check out our full Binance Review to learn more.
How to Buy Ripple (XRP) on Binance Step By Step
- Visit the official Binance website (Binanace.US if you reside in the US) and click on the “Register Now” button.
- Complete the registration by providing the exchange with personal details and verifying your trader account (not necessary if you do not intend to trade more than 2BC per month).
- Log in to your Binance user dashboard. Click on the “Buy Crypto” tab and select “Third Party Exchange” if you wish to buy ripple with fiat cash on Binance.
- Choose Ripple as your preferred crypto and pick one of the supported payment methods. The list of third-party exchanges listed here (Moonpay, Paxos, Banxa, and Simplex) identifies the one with the best rates. You will be redirected to their website from whence you can create the purchase.
- Alternatively, deposit cryptocurrencies into the Binance account. On the user dashboard, search for Ripple to find the supported XRP pairs on the platform. Choose one and use the menu to the right of the screen to customize the market or limit the order.
Note: The XRP coins purchased via either method will be deposited into the inbuilt Binance exchange wallet from whence you can transfer them to other third-party wallets and exchanges.
5. CoinMama – Best Ripple Exchange for Fast Transactions
Coinmama is not your regular cryptocurrency exchange. It is an instant-buy platform where you can buy Ripple and eight other cryptocurrencies or sell Bitcoins. It started in Israel in 2013 but has currently expanded its presence in 188+ countries and territories across the world.
The account creation process on Coinmama is quite straightforward and identity verification is mandatory for all its platform users. Transaction processing is instant and you can buy Ripple on Coinmama with credit card or debit card, bank transfer, and eWallets like Apple Pay.
The minimum and maximum buying limits depend on your identity verification level while transaction fees are a 5.5% extra charge atop the processing fees charged by your payment processor.
Pros and Cons of Buying Ripple (XRP) on CoinMama
Pros
- Coinmama is a beginner-friendly and highly intuitive crypto trading platform.
- It has an instant buy feature whereby you will receive Ripple coins into your account immediately after the payment confirmation.
- Coinmama maintains high buying limits for verified accounts.
Cons
- You cannot sell Ripple on Coinmama.
- Unlike all other exchanges listed here, Coinmama doesn’t provide wallet services to its clients.
- One may consider the 5.5% fees charged by Coinmama to be quite exorbitant.
How to Buy Ripple (XRP) on Coinmama Step By Step
- Visit the official Coinmama website, choose to create a trader account, and pass email verification.
- Verify your identity by furnishing the broker with a copy of your identification document and a clear selfie.
- Log in to your approved Coinama account and on the drop-down menu, select Ripple, and enter the amount of cash you wish to spend on the trade.
- Enter the Ripple wallet where you would like your XRP coins delivered.
- Choose a payment method.
- Confirm that the transaction details, particularly the Ripple wallet address are captured correctly before hitting send.
6. Kraken – Best Exchange for Safe Ripple (XRP) Storage
Kraken is a U.S based cryptocurrency exchange started in 2011. It is best known for its commitment to the security of its client’s digital assets, fast transaction processing speeds, and crypto trading education. You can buy Ripple on Kraken or choose to trade XRP future contracts on its futures market with leverages of up to 50X.
Kraken’s account creation process is also straightforward and available to residents of 180+ countries and 48 US States. To buy Ripple on Kraken, you need to deposit cash into your verified trader account via bank transfer, PayPal, eWallets (Skrill, Neteller), and credit or debit cards. These deposits are free and the minimum trade amount is $10.
You also have the option of buying Ripple on the Kraken instant buy platform or the Kraken PRO trading platform dedicated to professional and institutional traders. Trading fees on the Kraken instant buy platform are fixed at 1.5% above the variable fee charged by the payment service provider. On Kraken PRO, both buying ripple and ripple futures contracts attract maker-taker fees based on your 30-day trading volumes, and ranges from 0.0% to 0.26%.
Pros and cons of buying Ripple (XRP) on Kraken
Pros
- Safe to use as it integrates multiple security measures to keep digital assets secure.
- Maintains highly competitive trading fees.
- Kraken appeals to both beginners and institutional crypto traders with its instant buy and PRO trading platforms.
- Kraken was among the first crypto exchanges to publish the proof of reserve audit.
Cons
- It has been accused of providing sluggish customer support.
- There have also been several complaints about Kraken’s slow verification process.
How to Buy Ripple (XRP) on Kraken Step by Step
- Visit the official Kraken website and create your ripple trading account.
- Choose an account verification level and submit relevant documents. The Stater level has a $150,000 withdrawal limit and requires phone number verification. The intermediate level has a $15 million monthly withdrawal limit and requires ID and Selfie verification. To unlock the PRO level that allows up to a $100 million monthly withdrawal limit, you will need to submit your financial statements and pass AML tests.
- Deposit funds into your verified Kraken account.
- Access your Kraken user dashboard and decide if you want to place a market or limit order for Ripple Coins.
- The XRP coins you purchased here will be delivered to the Kraken inbuilt exchange wallet. You can then transfer them to a third-party crypto wallet or exchange.
Bottom Line
Ripple (XRP) is an ever-growing cryptocurrency and a great option for investors of all levels. With its wide range of trading platforms, it is not easy to find the perfect one for your needs. Of the Ripple trading platforms we reviewed, the above 6 stood out as leaders in overall security, speed and user experience. Each has its own unique features which may suit different users; however, all these platforms offer good services at low costs with various payment methods to make the trading process more accessible. As the cryptocurrency market continues to change rapidly, so will these platforms and more features will be on offer. For anyone looking to trade XRP securely and quickly with top-notch customer service, these six best Ripple (XRP) trading platforms provide great options.
