How to Buy Ripple in Usa
All the essential things that you should know about Ripple cryptocurrency
The demand for ripple coin is now increasing across the world. In 2017, Ripple witness a massive growth and, in that year, it witnessed a market cap of more than $118 billion. Ripple has now become one of the most updated topics among all the popular investors. But the main question is, what Ripple is? Is it a form of a cryptocurrency? Why is this so popular and how to buy ripple coin? Go through the articles to know all about Ripple.
What do you mean by Ripple?
Before talking about how to buy ripple,it is vital to have some basic knowledge about this. Ripple combines two factors one is a digital currency, and another factor is an open payment network. In general, it is a payment solution company, and the cryptocurrency name is XRP. The transactions are carried out through the RTXP- Ripple Transaction Protocol. As per the latest information, it has till now created a massive XRPs and currently has around 65 percent of the coins.
Understanding the difference between Bitcoin and Ripple
It is a fact that both Ripple and Bitcoin come under cryptocurrencies which function using block-chain technology. However, there are some differences between the team. XRP can’t be mined that means it is a not a mineable currency and only works on the Ripple network.
Both the cryptocurrencies for validating ledgers use validating nodes as per the information. Bitcoin has around 11,000 trusted nodes. But Ripple has around 20 validating nodes. All the trusted nodes are controlled and managed by Ripple. Besides, XRP ledgers are open to the public. So, if you want you can download and can be a validator of the Ripple. There are some companies which run their nodes on the Ripple network. Now let’s have a look into the best way to buy ripple.
How to buy Ripple easily?
1. Obtain an XRP or Ripple wallet
Before buying ripple, you will need to get a wallet where you can store your ripple cryptocurrency. In fact, with cryptocurrencies, you can go for a hardware wallet or a software wallet. However, software wallets are free, and you will find them less secure. These are suitable to do smaller transactions. Some of such wallets are Toast wallet and Edge. You can keep Ripple in your XRP. This is available for both computers and smartphones. However, if you want a high-level of security, you should prefer to us a hardware wallet.
2. Find the best XRP exchange
As the crypto market is now expanding, it offers the user a lot of options to buy Ripple cryptocurrency. You can buy the currency with fiat currency, for example, USD, EUR, etc. or you can invest in Ripple through a fund. If you are looking for the best trading fund, you can choose eToro. But you can’t send the coin to other people using this platform. This platform is only to buy and sell XRP for fiat currency. If you are using this, then there is no need to use any wallet. If you are thinking about how to buy ripple in the USA, then the best option is you can buy them through fiat currency. Coinmama lets you buy Ripple using your credit and debit card. Another famous platform for this is CEX.io, where you use a credit card or wire transfer to buy Ripple.
Another great way to buy XRP is by using Bitcoin. Here you will trade BTC to obtain XRP. This is also a quite popular and inexpensive way of buying XRP. Here, first, you will have to buy BTC and then trade it to get Ripple. You can do this through some popular exchange sites such as Bitstamp, Kraken, Binance, and more.
3. Withdraw ripple to the wallet
It is not advisable to leave your Ripple on the exchange you purchased them from. The reason behind this is, in general, you don’t control the coins private key and that why you are not the valid owner of the coin. So, no matter from where you have obtained the coins, always withdraw them into the Ripple wallet as you have the private keys of the wallet. Once the transfer is completed, you will be the owner of the coin.
So, if you are thinking about how to buy ripple coin, follow the above-mentioned steps to buy XRP easily.
Benefits of Ripple over Bitcoin
This coin is generally designed to be used for day to day payment system. Besides, it is much safer than Bitcoin. With Ripple, you will enjoy a faster and inexpensive transaction.
It has begun as a company to be used by all the banks. So, it will not encounter with multiple regulation checks.
By paying a certain amount of commission, you can easily exchange the currency to other currencies and gold.
Some banks that support Ripple cryptocurrency
Santander commercial bank
Union Bank of Switzerland
National Bank of Abu Dhabi
Ripple- A good investment or a bad investment?
You all know that there is no such investment, which is 100 percent safe. Remember that all types of investments have some risk. Well, it’s up to you. Here are some pros and cons that you can consider.
Pros of Ripple
As mentioned above, it is not only just a cryptocurrency; it is a company and has gained truss from different banks. This is not a blockchain startup from any unknown firm.
There is no inflation as the token have mined and existed.
If a greater number of banks use it as a transaction platform, that will automatically increase the value of Ripple currency. If all the banks start using it instead of processing redundant currency exchanges, then you can earn a huge profit.
Cons of Ripple
One of the major disadvantages of Ripple is its centralized factor. The currency is highly centralized. Well, the whole concept of cryptocurrency is to prevent centralized control. That means, here users get mined token, and the developers can fix the functionality of the currency. They can decide when to release the currency and its amount. So, it can be said that this is like you are investing with banks.
Besides centralization, you can face a Monopoly condition with Ripple. The reason is it holds 61 percent of the coins.
Ripple is an open source platform, and if hackers can use the codes to hack Ripple.
However, you can still trust this and invest in Ripple if you want to earn some decent profit. Besides, now buying ripple is not a difficult task. So, take your chance and buy XRP now.