Planning to buy Ripple? Well, cryptocurrency investment is essential to greater success. We’ve made it easy with our complete guide on how to buy Ripple in the UK.
If you're based in the UK and wish to buy Ripple – the process is now simple. All you need to do is to find a good online broker that offers competitive fees, deposit some funds with a debit/credit card, and decide how much you wish to invest in Ripple.
Ripple is one of the biggest cryptocurrencies. At the moment it is ranked as the seventh one in Coinmarketcap list. To begin, it’s important to understand that Ripple acts as both a platform and a currency.
The Ripple network is an open-source protocol that allows for quick and inexpensive transactions. Ripple’s goal is to replace current cross-border payment mechanisms and, in effect, help financial institutions transfer money faster and more efficiently.
The following guide will show you a step-by-step process of buying Ripple in the UK.
QUICK GUIDE: HOW TO BUY RIPPLE IN THE UK
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select Ripple.
- Enter how many Ripple tokens you want to buy.
- Check the details and confirm your purchase.
A Step-By-Step Guide To Buying Ripple in the UK
Are you wondering how to buy Ripple in the United Kingdom? Below we will show you step-by-step how to buy Ripple in the UK.
1. Find a trusted crypto exchange that offers Ripple in the UK
For UK traders and investors who want to buy Ripple, eToro is one of the top-rated investing platforms. With a fixed 2.45% spread, this exchange provides commission-free trading for XRP. The spread encompasses both the buying and selling of your trade, so it is one of the UK’s most affordable deals available today.
2. Sign up
Before looking to buy Ripple the very first thing you’ll need to do is sign up and open your eToro live account. This approach involves a verification process in which you’ll need to provide certain documents and information, and then patiently wait until your information is verified.
This can take between a day to a week to finish. However, it’s a reasonably easy way to complete it with only a few basic documents and in a short amount of time.
3. Deposit funds into your account
You’ll have one more step to complete after you’ve gone through the verification and sign up process and you’ll be ready to start buying Ripple.
Just before you buy XRP, the next thing you’ll have to do is to choose the method you’d like to use to deposit your GBP. One of the key advantages of eToro is that, in terms of payment mechanisms, you have a wide range of choices.
eToro facilitates bank transfers, credit cards such as Mastercard or Visa, along with mobile wallets, including PayPal, to process payments and help you deposit your funds in the simplest and easiest way possible and guarantee your money’s utmost security.
4. Buy Ripple
Having reviewed your eToro account and made a deposit, the last step is to buy your XRP. In order to do this, simply go to your eToro account and find “Crypto” under the “Markets” subsection.
You can pick Ripple from the list of choices in the drop-down menu while you’re on the Crypto section. Then click “Buy” and type the number of XRP you want to buy, and from there you’ll move on. You’ve now started your Ripple ride with eToro.
The eToro digital wallet is one of the most popular wallets in the field of cryptocurrency. Opening a Ripple wallet could not be simpler, particularly on eToro. All you need to do is launch an XRP transfer into your eToro wallet and instantly open the wallet. To open your wallet, you will need to make a deposit of 45 XRP.
Why Should You Invest In Ripple?
There are many reasons why to invest in Ripple’s XRP in the UK. The growing acceptance of Ripple in the UK by numerous companies and financial institutions is perhaps one of the biggest factors that might affect your decision. There are several UK businesses and organizations that have brought Ripple into their corporate activities outside their starting points.
For instance, Santander was the first UK bank to introduce Ripple’s blockchain technology to operate cross-border payments through a new app. Sigga Sigurdardottir, Santander’s former Head of Customer and Innovation, stressed how the technology behind Ripple helps banks overall best serve their customers.
Ripple CEO, Christ Larsen, believes that Ripple is redefining how value flows around the world. Ripple had also launched plans to expand its relationship with TransferGo, a UK-base money transfer app. In 2018, the two companies partnered up to bring cross-border blockchain remittance to India, and are now extending the program to emerging markets in Southeast Asia, Latin America, and Africa.
Another upside is that Ripple could move its headquarters from San Francisco to London, where authorities would not deem its XRP cryptocurrency as a security. This could be beneficial to Ripple as securities face far stricter rules.
In addition to the increase in adoption, it’s actually faster to make transactions with Ripple overall. Typically, Ripple transactions only take four seconds. Whereas it can be up to twenty minutes to make a transaction with Bitcoin. Furthermore, banks can take hours and in some cases days to complete a single transfer.
Ripple is trusted by a multitude of companies and financial bodies in the UK. And because many tokens are pre-mined there’s still nearly no inflation as a high volume of XRP tokens already exist.
Finally, if UK businesses and financial institutions continue to accept XRP, XRP’s value is likely to grow with it.
Is Ripple A Worthy Investment In The UK?
At the time of writing, XRP has a market cap of $53 billion, and as we’ve seen, this is increasing as the use of its payment protocols becomes more widespread.
If you intend to invest in Ripple in the UK, it’s evident that Ripple is continuously gaining traction across the crypto industry. This forward-thinking company will be able to consistently build its market niche for many years to come.
Numerous analysts say that 2021 may be a good year to invest in Ripple since its value sharply declined at the end of Q1 and it’s predicted to rise again.
Don't Miss: What Will Ripple Be Worth In 10 Years?
eToro – The Best Platform to Buy Ripple in The UK
eToro have proven themselves trustworthy within the industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.