I will explain to you in a quick and easy way how to buy Ripple (XRP) in 2 quick steps. The first time I bought Ripple (XRP) was about six months ago. So, I will share my experience of buying this cryptocurrency with you.
See I told you, quick and easy. Now, if you need more details on which exchanges you can buy ripple and the wallets that you can store the coin in, lets go ahead.
Buy Ripple (XRP) from an Exchange
There are multiple exchanges that currently support buying Ripple. On their official site, Ripple lists down these following exchanges:
Ripple can be bought using either Fiat currency, such as USD, GBP or KRW, or using other cryptocurrencies.
How to Buy Ripple using other Cryptocurrencies
The most favoured way to purchase XRP is by first buying Bitcoin (XBT). Then XBT can be transferred to the different exchanges listed above and traded for Ripple.
This is how I bought my Ripple. I purchased XBT from a different exchange and transferred it to Kraken. On Kraken, I placed an order to transfer XBT to Ripple. I waited for my order to hit and boom, I was the proud owner of some Ripple.
Once you have either XBT or ETH, you can use the convertors such Shapeshift or Changelly to convert them to Ripple.
How to Buy Ripple using Fiat Currency
A cheaper way to buy Ripple is to buy it direct using a fiat currency, such as USD, GBP, EUR or INR.
All the exchanges listed above, let you buy XRP with fiat currency. The fiat currency that they support is typically native to their country of operations. For example, if you are in India, you can buy XRP at BTCXIndia using Indian Rupees (INR). If you are in South Korea, you can use KRW to buy XRP at Korbit.
One thing that you may need to note is that the exchanges will have stringent Know Your Customer (KYC) procedure or verifications that you will need to clear. You will then be able to transfer funds using a SEPA transfer (for example at Gatehub, Kraken or Bitstamp) or USD by a bank transfer. This process typically takes some time. Once the funds are available in your exchange account, you can trade your local currency for XRP. This will help you save Bitcoin transfer charges. However, you may still incur charges on your bank transfers. If you wish to transfer funds using a credit card, then Bitstamp let you do that.
Transfer Ripple (XRP) to your Wallet
The manner in which you purchased or bought the crypto coins does not matter. Its always recommended to transfer Ripple to your own wallet. While Gatehub is one defined wallet for XRP, you should also consider some other wallets. A slight difference from other cryptocurrency wallets is that a Ripple wallet needs to be initialised with 20 XRP to begin with.
Rippex is a desktop wallet that supports Mac, Windows, and Linux. If you are using some other operating system, you are out of luck. The Rippex wallet is open source.
Another option is the Minimalist client that is also truly open-source. It is a browser-based client for interacting with the Ripple network and storing your XRP.
As always, it is best to store your cryptocurrency in a hardware wallet. The Ledger Nano S, is my favourite hardware wallet and thankfully it supports XRP. You will need to install a separate Chrome app.
Hopefully, you see how easy and quick it is to buy Ripple (XRP). The same steps can be followed for any other cryptocurrency. In summary, the way that I did it was buy XBT on a different exchange and transferred it to Kraken. There I traded XBT to XRP. Then I moved it to my Ledger Nano S hardware wallet. Good luck in buying your XRP.