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How to Invest in Ripple 2018: The Ultimate Guide
A simple way to buy the Ripple cryptocurrency (XRP) is through Coinbase and Binance. Here we explain how.
In the rapidly changing world of cryptocurrencies, Ripple has already made a name for itself. However, what is interesting about Ripple and what leads some financial institutions and analysts to predict a solid future for this network is the fact that Ripple is designed to increase the global liquidity of money by allowing transfers around the world take place at record speeds. and for very little in terms of fees.
Perhaps the innovative technology behind these achievements is what has led Ripple to obtain a 4300% value in the year until the date of December 12, 2017. So, how can you buy Ripple? Like other cryptocurrencies, Ripple is available in several different exchanges.
Here we explain how to buy XRP, the Ripple cryptocurrency token, through the Binance exchange.
For this, basically we must follow 4 steps:
- Sign up at Coinbase and buy Bitcoin.
- Then register in Binance .
- Then, send your Bitcoin from Coinbase to Binance.
- In Binance, change your Bitcoin to XRP.
How to buy Ripple in Binance
1. Register with Coinbase
- Go to Coinbase and sign up. You must verify your email, phone number and bank account.
- Then, go to Coinbase.com/buy . After choosing your payment source and how much you want to buy, click Buy Bitcoin.
2. Register in Binance
- Go to Binance and sign up for an account.
- Verify your email.
3. Send Bitcoin from Coinbase to Binance
- Log in to your Binance account.
- At the top of the screen, move the cursor over Funds and click Deposits Withdrawals.
- On the next page, you will see many rows of cryptocurrencies. Find the row corresponding to Bitcoin and click on the corresponding deposit button (Deposit) to copy the address of your wallet.
- Now, go to Coinbase.com/accounts and click “Send” under your Bitcoin wallet.
- Paste your BTC deposit address (which you just copied from Binance) into the Enter a BTC address field (Enter to BTC address).
- Enter the amount you wish to send and press Continue to send your Bitcoin to Binance.
- To see if this transaction has been completed, review the Binance Transaction History . The transaction may take between 1 and 3 minutes, and between 10 and 30 minutes for it to be fully confirmed.
4. In Binance, change your Bitcoin for XRP
- Go to Binance’s BTC-XRP exchange: www.binance.com/trade.html?symbol=XRP_BTC (This page may seem complicated, do not worry, let’s explain how it works)
- In the middle of the page you will see a box. Right below the graphic, there is an interface (see image). If the Limit option is selected, click on Market.
- After selecting the Market tab, click 100% (this means “convert all Bitcoin into my Binance account in XRP”).
- Then click on Buy XRP.
- To see your recently acquired XRP, go back to the Deposits / Withdrawals page in Binance.
And that’s it!. If you are familiar with Ethereum, you can adapt this guide to use Ethereum instead of Bitcoin to get lower transfer fees between Coinbase and Binance. I used Bitcoin to make the process as simple as possible.
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