Can Ripple be bought with Ethereum
Buy Ripple - these are your options when buying Ripple
Ripple is one of the top cryptocurrencies and is a particularly promising digital currency alongside Bitcoin, Bitcoin Cash and Ethereum. For you, we've taken a closer look at the different ways you can buy Ripple. You can also read what makes Ripple different from other cryptocurrencies.
Ripple - potential for banks and investors
Ripple is one of the largest cryptocurrencies in terms of market capitalization. Unlike Bitcoin and Co., Ripple also aims to work with banks. Ripple thus takes on a special role in the group of digital currencies and is therefore also referred to as bank crypto currency.
The heads behind Ripple
From a technical point of view, Ripple is an open source protocol and is an international payment network. It was launched in 2012 by Ripple Labs. The idea for the Ripple network came from Ryan Fugger, Chris Larsen and Jed McCaleb. Their idea: Ripple should make the peer-to-peer principle (P2P) accessible to large financial institutions. In addition, a foreign exchange market for all currencies (for example crypto and fiat) is to be created with Ripple. Here it should be possible to act efficiently and cheaply.
What is the difference between Ripple and Bitcoin, Ethereum and Co.?
Ripple can join the success story of Bitcoin and Co., the high market capitalization speaks for the demand for the digital currency. A unique selling point of Ripple is that, unlike Bitcoin, for example, the crypto currency is not based on the blockchain. Unlike other crypto currencies, Ripple does not want to revolutionize the financial market, but rather make existing processes more efficient and cheaper.
Buy Ripple - these are your options
In order to benefit from Ripple's performance, you as an investor can choose between various options. For example, you can buy real Ripple or benefit from the performance of the crypto currency with different financial instruments. In the following, we will explain the advantages and disadvantages of the respective purchase options for you.
Buy Ripple (XRP) quickly and easily as a CFD
A particularly simple way to participate in the performance of Ripple is a Ripple CFD. The abbreviation CFD stands for Contracts For Difference. A CFD is basically nothing more than a derivative. This means that the value of a Ripple CFD depends on the performance of the underlying asset. One advantage of Ripple CFDs: You can participate directly in the development of the Ripple course and do not have to physically own Ripple.
To trade crypto CFDs, you need to open an account with a CFD broker. For example, if you want to buy or sell Ripple as a CFD Plus500 to use it. With this provider you can, for example, deposit your money by credit card or PayPal and open the account in just 15 minutes. This CFD and crypto broker comparison will help you to find a suitable provider for your trading with Ripple CFDs.
Our recommendation: Trading Ripple CFDs is particularly suitable for investors who want to speculate on the price of the digital currency in the short or medium term. While a direct purchase from Ripple is suitable for investors who invest long-term or who want to pay with digital currency, CFDs are suitable for those who want to speculate on the price of digital currencies. Also possible: You can use Ripple CFDs to bet on both rising and falling prices of an underlying asset and, depending on your investment preferences, even apply leverage. If, on the other hand, you want to benefit from the performance of the digital currency in the long term, you should consider buying Ripple physically.
Important: Always trade with the money that you can manage to lose - CFDs, like Ripple, are speculative instruments.
Buy Ripple Certificates
Another way to participate in Ripple's performance is through Ripple certificates. Here, too, investors do not acquire "real" Ripple Coins, rather the certificate only reproduces Ripple's performance.
As an investor, you can choose between different certificates, and structured products in other crypto currencies can also be traded. A tradable Ripple certificate is the Ripple Open-End Participation Certificate (ISIN DE000VF7R1P / WKN VF7R1P) from Vontobel. Alternatively, you have the option of purchasing various mini-futures on Ripple, for example also from the provider Vontobel. Our recommendation: With certificates you can easily participate in the performance of Ripple and use the usual way on the stock exchange. All you need is a securities account and you can start trading with certificates. Be aware of the issuer risk and, if necessary, consider a currency risk.
How can I buy Ripple?
Of course, in addition to participating in Ripple's performance, you also have the option of buying real Ripple. Then you physically own Ripple. You can store the real coins in a Ripple wallet, which is something like the digital crypto wallet. It is important that you need a strong password for your wallet.
The Ripple providers themselves recommend the online wallet Gatehub for storing Ripple coins. The decision how and where to store your Ripple Coins is up to you. Often all you need to open your digital crypto wallet is an email address and a password. Once you have opened a wallet, you have various options for trading Ripple.
How to Buy Ripple on Trading Places
To buy Ripple, for example, you can use various cryptocurrency trading venues. Bitfinex, bitstamp and Kraken, for example, are very popular. The offers and purchase prices vary depending on the trading venue. It is therefore best to compare different trading locations before making a purchase and look for the offer that is best for you. Once you have decided on an offer, you can open an account with the provider of your choice. Before you can start trading, you should deposit money into your account - on many platforms this can be done easily by bank transfer or credit card. If you have discovered a good purchase offer and hit it, you will soon be holding your Ripple Coins in your hands.
Our recommendation: If you want to hold real Ripple in your hands, you will find individual purchase offers on Ripple platforms. Please note, however, that buying via a crypto platform can take a few days. The purchase prices can also vary.
Conclusion: your options with Ripple
As a decentralized transaction network, Ripple offers you as an investor a particularly wide range of opportunities. To trade Ripple, you should first consider how you would like to own the cryptocurrency based on your investment preferences. Be aware that cryptocurrencies are volatile financial products and only trade with money that can be lost. Buying Ripple CFDs or Ripple Certificates is particularly easy. If you want to buy real Ripple, you need a Ripple wallet and can, for example, get hold of Ripple at trading centers.
Start trading Ripple now
Note: Our advice articles are objectively researched and independently created. Clicks on links are sometimes paid for so that you can read our information free of charge.
Note on Plus500: Your capital is at risk. Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909). 72% of retail investor accounts lose money when trading CFDs with this provider.
Note: CFDs are complex instruments and because of the leverage they have, they carry a high risk of losing money quickly. Between 72% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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