25 December 2018
Ripple VS Bitcoin - Where can You Buy Ripple?
Published 25 December 2018
Ripple is, like its predecessor Bitcoin, a form of cryptocurrency (crypto currency). This is a new generation of currencies, digital currencies, which in the future could become a major competitor of the current 'normal' currency (euro, dollar, etc.). In cryptocurrency is spoken in terms of (digital) coins .
Ripple falls into the category Altcoins, these are all types of cryptocurrency that are not Bitcoins.
Cryptocurrency as Ripple gets its strength from the fact that no intermediary or agency is involved. Where in normal money you still have to deal with extra costs (fees) to your bank and / or the company where you buy goods or services, Ripple will receive the money directly from the seller.
Where can you buy / sell Ripple?
To buy and sell Ripple, you have to go through the following simple steps:
Step # 1: Provide a Ripple (XRP) wallet
We are of course not talking about a wallet like you now carry in your pocket. We are talking about a digital wallet here. Here you store your received XRPs, and from this place you can also publish them again.
This also requires a different kind of protection, namely a secret (digital) key, which you have to keep somewhere in a safe location. In fact, write this key many times, and store it in many places - with this key you can get access to your wallet anyway.
Tip: It is best to use a hardware wallet. This offers you maximum protection, for example against spam and hacker attacks.
Step # 2: Search for a Ripple trade fair / trade opportunity
You can now purchase XRP in different ways. To know:
- Invest through a trade fund. On such platforms you have no access to your coins and you can not transfer coins to other people. The only thing you can do with the platform is buying and selling Ripple for fiduciary money (euro, dollar, etc.). In other words, you can only speculate about the XRP Cryptocurrency price through the platform.
- Buy Ripple. The best way to purchase Ripple if you do not have Bitcoins is by bank transfer or credit card. Sign up for a exchange option (exchange), after which you can easily buy Ripple via for example a bank transfer.
- BTC exchange for XRP. The cheapest way to purchase XRP is to first buy Bitcoins (BTC) from a provider. The Bitcoins can then be sent to various trade fairs / trading opportunities and exchanged for XRP.
Step # 3: Place your XRP in your wallet
Make sure that you do not leave your XRP on the stock market where you bought it. You have no control over the private key of your coins, so they are not actually yours. So transfer the coins to your own Ripple wallet, where you do have the private key. As soon as this transfer is complete, you have successfully purchased XRP.
Step # 4: Sell Ripple
Once you have XRP in your wallet, you can also sell it again. One way to do this is through peer-to-peer transactions . Transactions take place directly between two people. There is therefore no bank or other intermediary involved. However, if you sign up on a platform that links you to a buyer, it could still ask for a small amount in exchange for their service.