Hey there, if you’re new to buying and selling cryptocurrency, then this is going to be a quick run down of the fastest way to buy Ripple (XRP) cryptocurrency. I’ll list the steps for quick reference to make sure you’re going in order. Then, below will be more thorough instructions you can follow.
- Sign up at Coinbase – If you don’t already have an account at Coinbase. You’re going to want to sign up. By the way, if you use this link to sign up, we’ll both get $10 in FREE Bitcoin! If you do already have a Coinbase account and money available great!
- Buy Ethereum – If you already have Ethereum in your Coinbase wallet, awesome. If you don’t you’re going to want to purchase some Ethereum or exchange any Bitcoin, Litecoin, or Bitcoin Cash you want to use instead. I like Ethereum because it faster than Bitcoin and has cheaper network fees. It’s also accepted on most exchanges to trade for lesser known currencies. Once you’ve completed the verification process you’re going to need to buy cryptocurrency, in this case Ethereum. You can do this with a debit card and it only takes a few seconds.
- Sign up at Binance – Now you have Ethereum, but you want to exchange it for Ripple, right? So you’re going to need to send your Ethereum to a wallet on an exchange that has Ripple (XRP) listed but to do that, you need to withdraw your Ethereum by sending it to your wallet on the exchange you intend to use. I use Binance to purchase and sell Ripple.
- Once you’ve signed up with Binance, under the funds tab, you’ll see your Ethereum wallet. You want to click on deposit. That hex address is the code you want to copy and place on the Coinbase side where you’re withdrawing Ethereum to. After you have the correct address, you want to paste it on the Coinbase side.
- Send Ethereum from Coinbase to Binance – So you’ve signed up with Binance. Now you need to send your Ether from Coinbase over to Binance so you can exchange it. To do this, in Coinbase, click on the Accounts tab. Find Ethereum (or whichever currency you’re withdrawing) and click on Send.
Once the send screen appears, you’re going to need to add your Binance Ripple Wallet address in the recipient side on Coinbase and click Send Funds.
- Exchange Ethereum for Ripple – Once you’ve sent the Ethereum from Coinbase to Binance, be patient. It can take a little time depending on how busy the network is. Once it does show up it in your Binance account, you’re ready to exchange it for Ripple.
When you see your Ethereum show up, you’re going to want to go click on Exchange in the top left corner. Then you’re going to want to look for Ripple or XRP, in the currency list.
After you find XRP, you’re going to want to place a buy order to trade your Ethereum for Ripple. Just enter the price you’re willing to pay and the amount of Ripple you want, and it will show you the total amount of Ethereum it will cost you. When you’re ready, click the Buy button.
You can go back to the funds tab and you should now see the updates amount of Ripple in your Ripple (XRP) wallet.
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** If you want to save some extra cash there’s another way to do it and bypass some transaction fees!
Coinbase has a partner site that’s a trading platform for their cryptocurrencies called GDAX. You can send your Ethereum there for FREE! Then you can send it from the GDAX account to Binance without a network fee. You’re welcome! Not sure how long it will last but it’s still valid at the time of this writing.
Instead of buying Ethereum and paying a 4% fee for using a debit/credit card for instant, or a 1.5% fee for bank wire which can take a few days, just deposit the money for free. Then you can transfer it to GDAX for free. Once in GDAX, you can buy cryptocurrency for a small .25% taker fee. Just follow the same steps as withdrawing to Binance, but paste your hex address from GDAX instead. Then from GDAX, you can transfer to Binance.