XRP is a cryptocurrency that runs on the XRP Ledger, a blockchain created in 2012 by Jed McCaleb, Arthur Britto and David Schwartz.<\/p>\n
XRP can be bought as an investment, as a coin to exchange for other cryptocurrencies such as Bitcoin, or to finance transactions on the Ripple payments system \u2013 created by Britto and McCaleb as an alternative to leading money-transfer network SWIFT.<\/p>\n
Note: investing in cryptocurrencies isn\u2019t for everyone. Cryptocurrencies are given to volatile price swings. The UK\u2019s financial watchdog, the Financial Conduct Authority (FCA), issues regular warnings about the crypto industry.<\/p>\n
The FCA reminds would-be traders that crypto assets are unregulated and high-risk. It says this means people are \u201cvery unlikely to have any protection if things go wrong, so people should be prepared to lose all their money if they choose to invest in them\u201d.<\/p>\n
Cryptocurrencies Available for Trade<\/p>\n
20+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Fees (Maker\/Taker)<\/p>\n
1.99%*\/1.99%*<\/p>\n<\/div>\n
Cryptocurrencies Available for Trade<\/p>\n
50+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Fees (Maker\/Taker)<\/p>\n
0.40%\/0.40%<\/p>\n<\/div>\n
Cryptocurrencies Available for Trade<\/p>\n
100+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
*Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. **CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with eToro.<\/p>\n<\/div>\n<\/div>\n
How to buy XRP in 4 steps<\/h2>\n\n- Choose a crypto exchange or broker<\/strong><\/li>\n<\/ol>\n
Both a crypto exchange<\/a> and a crypto broker can help you buy XRP, but the two are slightly different.<\/p>\nAn exchange is a platform on which buyers and sellers can trade cryptocurrencies. A broker is an interface that interacts with exchanges on your behalf.<\/p>\n
Some exchanges only deal in crypto, so if you\u2019re new to investing and need to use a fiat currency (sterling in the UK) to buy crypto<\/a>, make sure you choose an exchange that accepts it.<\/p>\nIf you choose a broker instead, be aware of its rules around moving your assets off a brokerage platform because some brokers don\u2019t allow you to move your holdings out your account. If you wanted to store your XRP in a crypto wallet for added security, this would not be possible.<\/p>\n
FCA has a list of registered cryptoasset companies here<\/a><\/p>\n\n- Choose a payment method<\/strong><\/li>\n<\/ol>\n
Most exchanges let you add funds to your account from your credit or debit card, bank account, crypto wallet or other payment service. Transaction fees may apply, and your payment method may have a bearing on the amount you\u2019ll pay.<\/p>\n
Use a credit card and the card issuer will treat it as a cash advance, which will be subject to a higher rate of interest than a normal purchase.<\/p>\n
\n- Buy your XRP<\/strong><\/li>\n<\/ol>\n
Within your chosen exchange, find the XRP currency<\/a> and enter the amount you\u2019d like to invest.<\/p>\n\n- Select secure storage<\/strong><\/li>\n<\/ol>\n
Unlike a bank account holding fiat currency, cryptocurrencies like XRP aren\u2019t protected by the Financial Services Compensation Scheme<\/a> (FSCS). This means you would not be entitled to reimbursement if your XRP were stolen, you lost your access codes or if the exchange or broker went bust.<\/p>\nA broker may give you no choice about where your XRP is stored, but while an exchange may provide an integrated crypto wallet, you\u2019re free to store it in wallets elsewhere \u2013 whether \u2018hot or \u2018cold\u2019.<\/p>\n
Hot wallets are stored online, making them more convenient but also more exposed to hackers.\u00a0<\/p>\n
Cold wallets are external storage devices such as hard drives or solid state drives. They\u2019re arguably more secure but if you were to lose your own access codes there may be no way for you to ever access your assets.<\/p>\n
Whichever you choose, you may be charged a fee for exporting your XRP to an external wallet.<\/p>\n
Alternative ways to invest in XRP<\/h2>\n
Buying shares in an orgnisation which uses or owns cryptocurrencies and the blockchain<\/a> that powers them is another way to invest in cryptocurrency. If the company is subject to regulatory scrutiny, you may feel this is a more secure way to invest.<\/p>\nNvidia (NVDA), for example, is a manufacturer of graphics processing units which are used by cryptocurrency miners. Paypal (PYPL), meanwhile, allows users to buy and sell select cryptocurrencies.<\/p>\n
Note: <\/strong>Nvidia and Paypal are used for illustrative purposes and are not recommendations.<\/em><\/p>\nInvesting in publicly traded companies is no guarantee that you\u2019ll make money or even recoup your investment. You\u2019ll need an online investing platform<\/a> to get started.<\/em><\/p>\n\n\n\n\n\n\n\n\nCryptocurrencies Available for Trade<\/p>\n
20+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n\n\n\n\nFees (Maker\/Taker)<\/p>\n
1.99%*\/1.99%*<\/p>\n<\/div>\n
\nCryptocurrencies Available for Trade<\/p>\n
50+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n\n\n\n\nFees (Maker\/Taker)<\/p>\n
0.40%\/0.40%<\/p>\n<\/div>\n
\nCryptocurrencies Available for Trade<\/p>\n
100+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n*Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. **CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with eToro.<\/p>\n<\/div>\n<\/div>\n
<\/div>\n
Both a crypto exchange<\/a> and a crypto broker can help you buy XRP, but the two are slightly different.<\/p>\n An exchange is a platform on which buyers and sellers can trade cryptocurrencies. A broker is an interface that interacts with exchanges on your behalf.<\/p>\n Some exchanges only deal in crypto, so if you\u2019re new to investing and need to use a fiat currency (sterling in the UK) to buy crypto<\/a>, make sure you choose an exchange that accepts it.<\/p>\n If you choose a broker instead, be aware of its rules around moving your assets off a brokerage platform because some brokers don\u2019t allow you to move your holdings out your account. If you wanted to store your XRP in a crypto wallet for added security, this would not be possible.<\/p>\n FCA has a list of registered cryptoasset companies here<\/a><\/p>\n Most exchanges let you add funds to your account from your credit or debit card, bank account, crypto wallet or other payment service. Transaction fees may apply, and your payment method may have a bearing on the amount you\u2019ll pay.<\/p>\n Use a credit card and the card issuer will treat it as a cash advance, which will be subject to a higher rate of interest than a normal purchase.<\/p>\n Within your chosen exchange, find the XRP currency<\/a> and enter the amount you\u2019d like to invest.<\/p>\n Unlike a bank account holding fiat currency, cryptocurrencies like XRP aren\u2019t protected by the Financial Services Compensation Scheme<\/a> (FSCS). This means you would not be entitled to reimbursement if your XRP were stolen, you lost your access codes or if the exchange or broker went bust.<\/p>\n A broker may give you no choice about where your XRP is stored, but while an exchange may provide an integrated crypto wallet, you\u2019re free to store it in wallets elsewhere \u2013 whether \u2018hot or \u2018cold\u2019.<\/p>\n Hot wallets are stored online, making them more convenient but also more exposed to hackers.\u00a0<\/p>\n Cold wallets are external storage devices such as hard drives or solid state drives. They\u2019re arguably more secure but if you were to lose your own access codes there may be no way for you to ever access your assets.<\/p>\n Whichever you choose, you may be charged a fee for exporting your XRP to an external wallet.<\/p>\n Buying shares in an orgnisation which uses or owns cryptocurrencies and the blockchain<\/a> that powers them is another way to invest in cryptocurrency. If the company is subject to regulatory scrutiny, you may feel this is a more secure way to invest.<\/p>\n Nvidia (NVDA), for example, is a manufacturer of graphics processing units which are used by cryptocurrency miners. Paypal (PYPL), meanwhile, allows users to buy and sell select cryptocurrencies.<\/p>\n Note: <\/strong>Nvidia and Paypal are used for illustrative purposes and are not recommendations.<\/em><\/p>\n Investing in publicly traded companies is no guarantee that you\u2019ll make money or even recoup your investment. You\u2019ll need an online investing platform<\/a> to get started.<\/em><\/p>\n Cryptocurrencies Available for Trade<\/p>\n 20+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n Fees (Maker\/Taker)<\/p>\n 1.99%*\/1.99%*<\/p>\n<\/div>\n Cryptocurrencies Available for Trade<\/p>\n 50+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n Fees (Maker\/Taker)<\/p>\n 0.40%\/0.40%<\/p>\n<\/div>\n Cryptocurrencies Available for Trade<\/p>\n 100+<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n *Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. **CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with eToro.<\/p>\n<\/div>\n<\/div>\n\n
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Alternative ways to invest in XRP<\/h2>\n
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