XRP: Everything you Need to Know about this Cryptocurrency, Where to Buy it, and The Steps to Buy it in the USA
We are sure that you would have about the world Cryptocurrency in a way or the other. Yes! Cryptocurrencies seem to be the future of financial sectors all over the world, and apart from the fact that they are not centralized, they are very easy to use, very fast, and guarantee security to a large extent. Have you heard of XRP before? Are you in the USA and you would love to know how to buy XRP? Hang in there! One of the popular and top-rating cryptocurrencies out there is iremainsXRP and in the Article, we shall bring to you what XRP is all about and how you can easily buy XRP in the USA.
1. What is XRP?
XRP is a cryptocurrency that is designed for products that are produced by Ripple labs. Company. These products are mostly for asset exchange, payment settlement, and so on. Ripple Labs is a tech company that is based in San Francisco and they are the one that creates and maintains the Ripple payment protocol which runs within its exchange network- the RippleNet. The native currency created for this payment is the XRP and it is used for remittances, settlements, and asset exchange. What this project looks into is building a global network of financial institutions that contributes to the internet of value, which happens to be a kind of platform that allows people to carry out instant p2p exchanges. There are certain misconceptions about XRP and one of them is the fact that people think it is centralized. XRP in the actual sense uses a decentralized network of validators to allow an easy payment system at quite affordable prices for its customers. You can make payment and international settlement very fast with XRP- as fast as four seconds. This makes it unique as even some cryptocurrencies that rank higher take more time. Another unique feature of XRP is the fact that it can process up to 1500 transactions in just one second. There are three main products at RippleNet; the xRapid, the current, and the xVia. The rapid offers liquidity on demand and makes sure that all transactions are quickly processed via the XRPs that are held in escrow accounts. xCurrent allows various financial institutions to perform easy international payments without errors and it also offers them a kind of communication medium to send messages and validate transactions. xVia offers institutions a basic payment interface that allows them to send payments and also produce invoices and track their deliveries all around the world.
Just like many other cryptocurrencies, XRP tokens can be held in your private wallet, while making sure that you do not share your wallet with anybody to ensure that your assets are safe. Keeping the XRP tokens in your private wallet allows you personalized access and control over it. You can either use a cold wallet, which is a hardware device that is built to store the private keys of your coins offline and so keeps them fully secured against scammers, or a hot wallet which is easy you use and access than a cold wallet but is not as safe as a cold wallet. You can access your hot wallet anytime and anywhere as long as there is internet access and some of the wallets that you can use XRP with include Trust Wallet, Meta Mask, Coinbase, Atomic Wallet, and others.
2. How to Buy XRP in the USA
Even though some exchange platforms delisted XRP due to a legal charge against Ripple in December 2020, XRP can still be bought in many other exchange platforms that include Kucoin, Bithumb, Huobi Global, FTX, Bitstamp, Liquid, Gate.io, Bittrex, and others.
When it comes to buying XRP, you are likely not going to be able to buy XRP directly with fiat currencies, you can however buy it using other stable coins and cryptocurrencies like Bitcoin. There are three things you should get readyfor when buying XRP, a cryptocurrency exchange platform of your choice that supports XRP, your funded digital wallet, and any other digital currency that is paired with XRP on that exchange platform. Here are the steps to take while buying XRP:
2.1 Sign-Up On A cryptocurrency Exchange Platform
The first thing to do is to open an account with a crypto exchange platform of your choice that supports XRP-some of which have been listed above. You would need to provide some personal details while doing this. After signing up on this exchange platform, you can fund it- if it supports direct funding from your bank account.
2.2 Buy an Asset that is Paired with XRP
The next thing to do is to check for assets that can be paired with XRP on the exchange platform. You can check out ETH, BTC, USDT, XLM, and others. Buy the amount of any paired asset you have chosen that is equal to the amount of XRP you intend to buy.
2.3 Transfer the Purchased Paired-Token to your Crypto Wallet
After you have chosen and bought the token you would like to swap XRP with, transfer it to your cryptocurrency wallets- making sure that it is one of the XRP-supported wallets that we have mentioned above. Be sure to double-check all entries before clicking on the send option to avoid sending funds or tokens to the wrong address. This transaction usually takes some minutes before it is processed.
2.4 Swap your Asset for XRP
Now that you have the XRP-paired asset in your crypto wallet, the next thing to do is to exchange that token for XRP. Most exchange platform already has a designed tool that makes this process easy for you. All you have to do is just type in your entries of what token you intend to buy and in what quantity. Once you have done this, your XRP token automatically gets sent into your wallet.
3. Can XRP be Sold for Cash and How do I Sell It?
Yes, you can sell your XRP in exchange for cash and all you have to do is just follow those same steps involved in buying it. Again, make sure you verify all entries well and that you choose only trusted exchange platforms to avoid falling into the hands of scammers.
4. Is XRP worth investing in?
Every investment comes with its risks and so it is upon anyone seeking to invest in any stock whatsoever to make necessary research and weigh all benefits and risks involved before opting to invest in a token. Talking about XRP, the token is generally good and until Ripple started to deal with some legal charges against it, XRP caught the attention of interest of so many investors. Now that Ripple is still busy with the battle against those charges and XRP has got delisted on some exchange platforms that it had initially been listed on, you might want to give great consideration to the risk involved in holding it. You never can be sure, the court ruling might favour XRP-which would likely have a positive impact on the value of the asset, and it can be the other way round. Nobody can categorically say anything about its safety until the case is finally settled in court. Once again, do thorough research and weigh in all possible risks and benefits before making your decision.
5. Where to Buy XRP In USA
This crypto-exchange platform is a trusted one and is not complicated to use. The deposit methods available on the platform include Credit/Debit Card, Wire Transfers, PayPal, Cryptocurrency, and SEPA. There are up to 250 cryptocurrencies available on the site and over 50 fiat currencies that include USD, JPY, GBP, and others.
The deposit methods available on the platform include Credit/Debit Card, Bank transfers, SWIFT, and SEPA. There are up to 10 cryptocurrencies available on the site and the fiat currencies available on the platform include USD, JPY, GBP, CAD, EUR, and AUD.
It should be noted that these crypto exchange platforms have different policies and terms and so it is upon anyone choosing a crypto exchange to go through the features of each exchange and to choose the one with policies, terms, and conditions that best suits him.
XRP is a popular token in the crypto market and just until the time that Ripple Company face certain legal charges, XRP was listed on so many exchange platforms and it saw many investors jump at it. Even with the fact that it still has some unsettled cases at the court, XRP remain one of the mostly traded cryptos in the market today. You might not find RP on all crypto exchange platforms as certain platforms have delisted it, but you can still find them on any of the listed platforms above. If you are buying XRP fromthe USA, follow the above-discussed steps and note that you cannot buy XRP directly with your Fiat currency. The future of XRP still seems unknown, but at present, the asset is doing fine in the market.