What have you heard about XRP? Most beginners do not know so much about this crypto while, as of today, it is holding one of the leading positions in terms of value and potential. Hence, we decided to provide you with useful guidelines on where and how to trade it at the lowest fees.
XRP is a crypto coin, which is utilized for cheap and fast transactions within the network Ripple. It is similar to other cryptocurrencies, but its unique benefits is that it is adjusted to the needs of the sphere of financial services. Speaking about its current position on the crypto market, experts include it in the list of leaders in terms of capitalization and price growth.
The next logical question is: “How to buy this crypto?”. In the guidelines below, we will discuss the Kraken exchange as an example, but most similar platforms function identically.
- Create a profile. The procedure is identical to registration on any online platform, but you will also need to confirm your identity by sending a photo of your passport or driver’s license. Your account will get verified in about 24 hours.
- Have a close look at the current situation on the market, analyze the charts and news, and consider whether it is a good moment to purchase XRP.
- When you decide to make an investment, click on the button “Buy Crypto”.
- In the “Pay” field, select a payment method, for example, choose “New debt & credit card”. Be ready to fill in the details about your card.
- Open the “Buy” tab. Choose the currency pair needed.
- Enter the amount of fiat currency you want to invest.
- Check all the parameters by pressing “Preview”.
- If everything is correct, click on “Buy now”.
But that was not the final step. When you obtain a certain amount of this crypto, you will need to decide where to store it. There are two approaches. If you plan to actively trade it and speculate on short-term price fluctuations, it will be more comfortable to keep it in a hot online wallet. But, in case it is a long-term investment, it is safer to transfer it to a cold offline wallet as that will 100% protect your coins from hacking.
In sum, as of now, when the price of this crypto is extremely affordable, it is a great chance to invest in it as it looks like its value will multiply in the near future.