The first place I look when learning about any new financial instrument, let alone a new investment vehicle such as the XRP token, is often the familiar place: the World Wide Web. That may be surprising for some, but it makes sense. After all, who wants to visit a website that only has one type of business listed – in this case, Cryptocurrency Exchanges – before even finding out what they are?
By going straight to where people turn when they need to buy XRP, you can see if they have reached their intended destinations and whether or not they’re interested in what you have to offer. For many, it’s an enjoyable experience to see what others have found valuable information about the places they’ve checked into. You might even find yourself remembering something about Cryptocurrency Exchanges that will help make your decision when you go to open a dollar and a half account at a prominent online bank branch. But what if you were interested in learning more about Cryptocurrency Exchanges but didn’t have access to the web, perhaps because you don’t have a computer or a smartphone? Well, there is an option available for those who don’t have access to the internet and another for those who use mobile devices – in this case, they can buy XRP directly from the brokers themselves.
So how do you get started? The simplest way is through the use of an online broker. In the early days, this was the only way to do this as the major currency investors had the backing of big banks and institutions and they would ride the wave of popular sentiment before making their move. Today, the use of brokers is limited to individuals who are looking to buy XRP directly from a Cryptocurrency Exchange. So, if you haven’t already discovered them, they’re a good place to start as they can act as a bridge between buyers and sellers with the assistance of a smart contract, which is essentially the underlying infrastructure used to facilitate the trade.
To buy XRP, you need to open an account with a Crypto broker which offers you the ability to trade via the bitstamp service. Once you’ve done this, you can log into your account at any of the several different exchanges which offer XRP as a tradable product. For instance, there’s Bitfinex which is one of the biggest and most liquid Cryptocurrency Exchanges in the world today and offers the ability to buy and sell all facets of the market, including the XRP market. This is in addition to the ability to trade through the traditional Crypto market which allows you to purchase and sell your currency pair instantly throughout the day.
One of the benefits of buying XRP through the bitstamp service is that it’s free to both buy and sell, so you don’t lose anything by getting your hands on it. Furthermore, you can get verified by Kraken which is a digital asset owned by the Kraken Private Exchange that does all of the payouts through the exchange for their customers and thus will always give you the absolute best deals around. If you’re interested in participating in the ecosystem, you can do so by getting signed up with Kraken.
However, if you are only interested in the buy XRP functionality, then you’ll want to get onto one of the several exchange platforms which allow you to buy and sell XRP. There are many others out there as well. The important thing to remember about these types of exchanges is that they will require you to get verified, and therefore deposit a certain amount of funds with them to start trading. This will be based on several different factors, but the bottom line is that you must have some sort of financial backing to participate in the exchange itself. This will ensure that you’ll be able to get the most out of your purchase and thus buy XRP.