Hi, I’m Nate Martin,
and we’re going to go over how to buy XRP in today’s 2...minute...tutorial.
XRP is the cryptocurrency that powers the Ripple network.
Buying XRP can be broken down into 3 simple steps:
Get a wallet, Locate your XRP address
and Find an exchange that sells XRP.
Depending on the amount of XRP you’re planning to buy,
you can choose to store it on either a hardware wallet
or a software wallet.
If you’re buying a small amount of XRP,
then a free software wallet that can be downloaded
to your mobile phone or computer will do.
Edge is a great software wallet that is easy to use for beginners.
If, on the other hand, you’re planning on accumulating larger amounts,
it’s safer to store it on a dedicated device known as a hardware wallet.
Our recommendation for a hardware wallet would be either the Ledger Nano X
or the TREZOR Model T,
both are reputable wallets which can store multiple cryptocurrencies alongside XRP.
One thing to keep in mind is that every XRP wallet
requires a non refundable 20 XRP deposit to prevent the creation of fake accounts.
Once you’ve set up your wallet, make sure to find your XRP address,
which will be used whenever you want to send XRP to your wallet.
Each XRP address is a string of 25-35 characters that starts with an “r”.
Finally it’s time to find a place to buy XRP.
Recently it’s been getting harder to find exchanges that list XRP
due to some regulatory issues,
however CEX and Binance are two exchanges that will allow you to buy XRP
with a variety of payment methods.
Both exchanges support many countries worldwide,
have a good reputation
and supply an instant buying option which is beginner friendly.
If you’re an advanced trader you can use the exchange’s trading platform
and save a little more on fees.
While exchanges will store coins for you on their site,
you’ll want to make sure to withdraw them to your own wallet
by sending them to the XRP address we talked about before.
This way you keep full control of your coins.
That’s today’s 2 minute tutorial,
for a complete list of recommended wallets and exchanges
and a more in-depth step by step guide,
make sure to check out the links in the description below.
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