Ripple, a guide to understand and buy this cryptocurrency

This Ripple is part of the digital ideas that have the wind in their sails. Here’s how to go about getting it.

Bitfinex, the US platform, one of the most popular services for the purchase of cryptocurrencies. And the latter face beating the hearts of investors.

“Choose the platforms which display the highest volumes to maximize the chances of fast execution and with a good price”

Among the virtual currencies turning the heads there you find Ripple. A digital project launched in 2012 by a company called eponymous. It provides financial institutions with a private blockchain accelerating the trade. Over the past 30 days, in terms of volume of transactions, heels the Ethereum. The second largest capitalization.

On this side either, ripple has not increased. The capitalization has increased by 32,800% the last 12 months. (for nearly 1,915% “only” for bitcoin), to reach the 77 billions of dollars in January 2018.

And at 1.95 dollars at the closing of that day. Its price remains accessible compared to that of the ethereum (nearly 1555 dollars) or bitcoin (more than 13 400 dollars ). Still, we do not find this “corner” at every corner.

So how and where to get it? It all depends on the situation in which you find yourself.

If you do not have crypto-currencies yet, you will have to go through a platform. Allowing you to buy the ripple with euros. Find out about the couples available on each virtual currency purchase service. Choose one that offers the duo “XRP / EUR”, XRP being the symbol of the ripple.

All intermediaries are not equal. “Put your priority on those who display the highest volumes. Aiming to maximize chances of an order executed quickly and at a good price.”

With $ 63.3 million and $ 49.5 million, Kraken and Bitstamp stand out. “A personal title, I have an account on Bitstamp. Which has the advantage of being regulated by the CSSF. The Luxembourg regulator, says the entrepreneur.” Kraken a not regulated company and sometimes knows about over-traffic problems. But they are two ‘safe’ services I recommend without doubt.”

Assuming you already have digital assets, you also have the option to trade against the ripple.

Given the transaction volumes on bitcoin, the pair “XRP / BTC” is of course the most widespread, but the exchange is also possible against the augur (REP), bitcoin (BCH), cardano (ADA) , the Ethereum (ETH), the Classical Ethereum (ETC), the Litecoin (LTC), the Stellar (XLM) and the Tether (USDT), or even against less popular crypto-currencies like the bitCNY (BITCNY) the quantum (QAU).

Again, to minimize risk, the candidate for possession of the bond must target the most known platforms. And the largest volumes.

As we have seen, the purchase of a cryptocurrency currently goes through an intermediary, in particular a trading platform, on which it must deposit a trust trust amount (euro, dollar, yen, according to the platform) before being able to exchange them for bitcoins.

The purchase, in practice

To illustrate a typical purchase, let’s take the example of one of the XXX trading platforms

If you have not already done so. You will first have to open an account on the platform and authenticate yourself. This procedure comes explained in detail, rest assured

  1. It is possible to follow a simplified purchase procedure, which is an excellent process for a first contact. Ripple’s simplified purchasing interface
  2. Choose the currency you want to buy: XRP. Then the fiat currency you will use: EUR. (You can also use USD if you have a bank account stocked in this currency)
  3. Click on one of the purchase buttons, depending on the amount you wish to purchase.
  4. You will presented to a window requesting a confirmation code. The latter, for security purposes, goes to the email address provided when you registered.
  5. If you have not already done so, you will then have to add your bank card, used to pay this purchase: this data includes card number, verification code, validity date, name of its owner and a photo proving you are the card holder (ID card, passport).
  6. After a short time to validate the transaction, you now have an account with Ripple.

Once made the purchase, remember, sometimes becomes too risky to leave your cryptocurrency on an exchange platform. We recommend using an e wallet to secure your cryptos, like the Ledger Nano S.