The cryptocurrency market continues to grow on a daily basis as new digital assets are being introduced. There are lots of valuable cryptocurrencies in the market, with each project trying to outperform the other. One of such digital currencies is Ripple’s XRP.
XRP is purposely designed for digital transactions by banks and other financial institutions. The digital asset is available for use worldwide. Although it is yet to be as valuable as Bitcoin (ETH) or Ethereum (ETH) and SEC’s lawsuit against Ripple is also not helping, its growth over the years speaks volumes of its future prospect.
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What is XRP?
XRP is a digital asset that is used to facilitate various transactions by Ripple, the San Francisco-based cross-border payments firm. XRP can be used and exchanged in place of other digital currencies, for banking transactions in different parts of the world, and also as an investment.
After Ripple was slammed with a lawsuit in December 2020 by the United States Securities and Exchange Commission (SEC) for allegedly selling XRP as an unregistered security, XRP was delisted by a number of exchanges and crypto-related firms. However, not all the top platforms have turned their backs on XRP.
So, if you are in search of where to buy XRP, take time to read through this article as you will get to see the top platforms where you can simply buy or exchange Ripple’s digital token XRP.
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eToro
eToro is an online trading platform where you can buy or exchange XRP and other cryptocurrencies. eToro is also useful for social copy trading. The fact that it’s a regulated trading platform makes it a safe space for both beginners and experienced traders.
Although eToro charges high fees for XRP, it is clearly a great choice among many traders. You can conveniently make use of the eToro platform by setting up an account and selecting your preferred method of making a deposit for buying XRP.
Bitstamp
XRP is the third most traded cryptocurrency on Bitstamp because of its very low fees, making it an excellent choice for many new investors. Bitstamp is easy to use for both new and old investors as it is a user-friendly platform for trading high volumes of XRP.
Bitstamp has been quite experienced in the use of crypto exchanges since the year 2011. Bitstamp can be used for crypto to crypto exchanges as well as crypto to fiat exchanges.
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Binance
With Binance, traders can trade different types of cryptocurrencies, including XRP. This platform offers traders different options to trade, with lower fees than other types of platforms. The only drawback Binance seems to have is that it is limited for use in certain locations.
You can purchase XRP on Binance with any type of debit or credit card, token, bank transfer, and other cryptocurrencies. Binance also has loan products that are used to support XRP tokens and other institutional products like the VIP and OTC trading accounts as well as gift cards.
Huobi Global
Huobi Global is a cryptocurrency platform that allows traders to buy, sell, or exchange cryptocurrencies, including XRP. Huobi Global provides a platform for experienced traders to generate a considerable amount of revenue with their trades. However, there is a drawback to making use of this platform as it is not regulated and also not easy to use by beginners.
Read Also: Ripple CTO David Schwartz Takes a Dig at Stellar Lumens to Show that XRP is Bigger than XLM
Bitfinex
Bitfinex is a great option to buy different types of cryptocurrencies, including XRP. The platform has been in existence since 2012 and is based in Hong Kong. Bitfinex is an easy-to-use trading platform for both new and experienced traders. To buy XRP on Bitfinex, you have to set up an account, then fund it and start trading.
Bithumb
Bithumb is a South Korean cryptocurrency exchange that is easily accessible and convenient to use. Bithumb makes use of a secure system that allows traders to trade it with their accounts with no restraints. Before buying XRP on Bithumb, you have to create an account, which can be done by submitting your email address. After that, you can choose the available method of payment to buy XRP, which would be deposited into your digital wallet.
FTX
FTX is another great option to purchase cryptocurrency. This is the platform that allows traders to buy and exchange XRP with low fees. FTX offers a long list of different cryptocurrencies to buy and trade. There are also advanced features that experienced traders can make use of to trade XRP.
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Why Should You Buy XRP?
Here are some of the reasons why you should consider buying or investing in XRP.
- XRP has a low price.
Beginners can invest and buy a good amount of XRP at a low price as it is very affordable. This makes the digital currency a great option for people who want to build a strong business option in the cryptocurrency market.
- XRP is environmentally friendly.
Blockchains that support NFTs usually make use of a large amount of energy, which can lead to global warming. However, XRP is considered safe since it makes use of a consensus model to reduce its energy consumption making it ideal for digital trading.
- XRP has a faster transaction time.
Other types of blockchains and even financial institutions may take a lot of time in completing their transfers and other transactions, but this is different with XRP. The longer it takes to transact, the higher the charge fees. XRP takes less time to complete transactions, making it very convenient and affordable to use for international transactions.
Conclusion
These are some of the platforms you can exchange or purchase XRP. The platforms mentioned above have been verified to be reputable exchanges that allow customers to trade with different cryptocurrencies and assets.
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