Buy Ripple on Paybis.com

When looking to invest in cryptocurrencies, investors pay attention to both past price movements and to real-life applications.

After all, it is a coin’s usability that will allow it to survive and grow under unfavorable market conditions. And by now, we have seen crypto experience many of those.

This is why XRP, a cryptocurrency made by Ripple, is so interesting. Not only has it managed to survive multiple market swings, but it has come out of them stronger and more promising than before.

In this guide, we will start by providing a little background on this unique cryptocurrency. Then, we will discuss ways you can buy XRP to strengthen your portfolio.

What is Ripple and why should you buy XRP?

Ripple, the company behind XRP, is the brainchild of Chris Larsen and Jed McCaleb, two very experienced and influential personalities in the cryptosphere.  

The rich background of its founders made Ripple and its payment system an interesting investment option from early on. 

At the moment of writing, XRP is the third-largest cryptocurrency by market capitalization. And this is certainly not by luck. Here is why Ripple (XRP) is both unique in its offer and promising as a cryptocurrency: 
 

• Partnerships with reputable banks - Ripple has more than 200 banking partnerships all over the world. 
• Does not depend on mining - Ripple does not have a blockchain. Shocked? Well, it’s still a cryptocurrency and all its transactions are confirmed through consensus (RPCA), not PoW or PoS. 
• The coin’s massive fan-base - Ripple has managed to become one of the most popular cryptocurrencies in the crypto-world.
• Efficient transactions - Ripple (XRP) can process more than a thousand transactions per second. This is way more than Bitcoin and Ethereum.
• Unique offer - Ripple does not aim to replace traditional money. Instead, it creates a “bridge” to increase the potential of government-based currencies. It does so by offering a digital currency exchange that can transfer both crypto and traditional money for almost no fees. 

All in all, it’s good to remember that all of Ripple’s banking partners are currently testing out the Ripple platform and its ability to transfer any currency at practically no cost. 

If at some time in the future, those banking partners choose to use the XRP token for their transactions, early investors will likely see huge returns.

Now that you have a better understanding of Ripple’s background, let’s outline the steps that will help you buy XRP.

Step 1: Create a Ripple (XRP) wallet

If you want to purchase XRP, you will have to indicate where you want them to be delivered to. For this, you will need a Ripple (XRP) wallet.

XRP wallets are a little different than traditional cryptocurrency wallets. They contain an additional tag to identify the receiver of a transaction. This is called a destination tag.

Whenever you send XRP, you should always include the destination tag to ensure that transactions are completed successfully.

Another requirement that is only applicable to XRP is the fact that each wallet needs a “base reserve” to function. Currently, this minimum balance is 20 XRP.

Having said that, there are many XRP wallets available on the market, most of which are free to use. Currently, there are four different categories to choose from:

Online Wallet

Online wallets, often referred to as “hot wallets,” store your coins on the web. You simply register at the platform of your wallet provider and store your coins on it, much like you would use an exchange’s internal wallet. This, of course, is not the safest option, but it does come with many benefits. These include convenient transactions, access using any device with an internet connection, and additional security measures to further protect your funds.

Desktop Wallet

Another option and one used for additional safety is desktop wallets. These wallets can be downloaded for free and need to be installed on a device of your choice. Once set up, they will be able to store your coins just like any other crypto-wallet. The main difference? You can only access your wallet from the device the wallet was downloaded to.

Hardware Wallet

If you want to buy XRP using a significant amount of money, you need the best wallet the market has to offer. In this case, you will need to invest in a hardware wallet.
Hardware wallets are your best bet when storing cryptocurrency as they offer maximum security, manual authorization of transactions, and you can carry them with you anywhere. 
Hardware wallets do come at a price, usually between $70 and $200, and you should always buy them from their official source. Trezor and Ledger devices are known to be the best wallets available.

Paper Wallet

Paper wallets are also physical in nature and free to use. Much like hardware wallets, they come with great security. Users that choose to go with this type of wallet will need to create and print the wallet’s credentials on a piece of paper, which they will then need to store in a safe location. Every time you choose to send XRP to your paper wallet, all you need to do is scan the printed QR code in order to receive your funds.

Step 2 - Where to buy Ripple (XRP)

After you select a wallet, it’s time to buy XRP.

To do this, you will need to find and use a cryptocurrency exchange.

A cryptocurrency exchange is a digital platform that helps investors buy and sell cryptos online using different payment options.

On Paybis, you can easily buy XRP in less than five minutes, even if this is your first-ever cryptocurrency purchase.

Here is why:
 

• Our platform’s interface is very easy to understand and perfect for beginners
• If a verification process is required, it is reviewed and confirmed in real-time by our support team. This step takes only a few minutes to complete.
• Paybis is known for its multilingual support team that is available at all times. With thousands of positive reviews on Trustpilot, it’s safe to say that we are one of the most responsive cryptocurrency exchanges.

Step 3 - Select your payment method

 
Once you register on Paybis, you can start a new transaction. You will then have the option to choose one of the available payment methods to conduct your transaction. When choosing to purchase Ripple (XRP), you can select any of the following options:
 

1. Credit and Debit cards
2. Bank Transfers in EUR (SEPA)
3. Bank Transfers in USD (WIRE)
4. Advanced Cash
5. Payeer
6. Skrill
7. Neteller

All the payment methods can be found on the left-side column of the Paybis home page, labeled as “You Spend”.
 
Paybis offers its services to 180+ countries and is always working to increase that number. There are, however, some limitations for users that reside in certain countries/states. Some locations do not allow users to make Ripple (XRP) purchases using their credit or debit card. Other locations cannot make use of our service as a whole.

If in doubt, you can check your country's eligibility by reading our Terms of Service.

Once you have selected your preferred payment method, you can also choose the currency you want to buy Ripple (XRP) with. Our exchange currently supports US Dollars (USD), Euros (EUR), and British Pounds (GBP) and we are planning to add more currencies sometime soon.

After selecting the currency, you can enter the amount you want to buy XRP with and press the “START TRANSACTION” button.

Step 4 - Buy Ripple (XRP)

 
At this stage, you may be asked to go through an ID verification process. This step is mandatory when:
 

• You are using a certain payment method for the first time
• The amount you want to spend exceeds the limits of unverified transactions

After our support team reviews and verifies your ID, you will be able to complete the payment. 

Go through the steps, complete your payment and finalize your order.

And that’s how you get Ripple (XRP)!

Step 5 - Receive and store your Ripple (XRP)

 
After you finalize the order, we will send your XRP to the wallet you indicated at the start of your transaction. All you need to do now is log into your wallet and check your balance. Once the coins become visible in your wallet, you can use them as you please.

Note: When using bank transfers to complete a payment, you will not see the XRP in your wallet instantly. The processing times of your bank may affect the timely delivery of your funds and payouts will occur only after we receive your payment. Usually, bank transfers are completed within 24 hours, but this could take longer.

The majority of XRP wallets will automatically translate the value of your Ripple (XRP) into your native currency. If this doesn’t happen, you can always use an app that does it for you (e.g. Blockfolio).

At this point, the Ripple (XRP) coins you purchased are safe in your wallet and you know what they are worth. What comes next?

Step 6 - Next steps

 
There are a few things you can do with your newly acquired XRP coins:
 

• Sell your coins after a little while if there is an upward price movement. This will give you a rather modest but respectable amount of profit.
• Store your coins for a longer time until you see a more significant increase in value.
• Trade XRP for other cryptocurrencies.

Before doing anything, we strongly recommend you conduct sufficient research. Due to the volatile nature of the crypto market, you will need to feel confident about your decision and stick to your goals.

Step 7 - When is the best time to sell?

 
Selling your coins is not always an easy decision to make. Experienced traders will tell you that “you should have sold at the peak price”, but that, of course, does not offer any real help. 

Since no one really knows whether the price of Ripple (XRP) will go up or down, the same experts suggest that the next best time to sell is “right now”.

Because of this uncertainty, new investors will often find it difficult to invest in cryptocurrencies. Price movement, whether positive or negative, can quickly lead to wrong decisions and losses, even for the most experienced traders.

For that reason, it is best to set a goal and stick to it no matter what the market does. In the worst-case scenario, when investing responsibly, you will only lose what you can afford to lose.

Following this type of approach is the best way to control your emotional response and make more calculated decisions.