How To Buy Ripple in The UK

A beginner's guide to buying and trading Ripple XRP in the UK.

Last Updated October 11th 2021
14 Min Read

Based in the UK and looking to buy Ripple? If so, there are several regulated crypto exchange in the UK to choose from. most of which give you access to the top crypto coins including Ripple. But how do you know whether Ripple is a good investment, and which Exchange is best for you?

Ripple is one of the most famous cryptocurrencies among investors and the mainstream media, as its values soared by nearly 350% from the start of the year. This cryptocurrency project, which was launched in 2012, became viral in recent years and is the 6th-largest digital asset in the world in terms of market capitalization.

However, in 2020 December, the US SEC blamed Ripple lab and two other executives for selling Ripple coins as an unregistered asset. It resulted in Ripple price decreasing while some of the exchanges even de-listed the coin from their platforms.

But Ripple has increasingly recovered ever since and is still considered one of the best crypto projects out there. Many cryptocurrency experts regard Ripple as an advanced crypto project with all the potential for further growth, which means that the coin is still worth investing in despite the allegations by the SEC.

So, how to buy Ripple and what are the best brokers to buy Ripple in the UK: in this guide, we will cover everything to help you answer these questions. 

If you want to buy Ripple quickly and easily, with 0% Commission, check out eToro Exchange!

Contents:

 

QUICK GUIDE: HOW TO BUY RIPPLE (XRP) IN THE UK

  1. Open an account with a UK cryptocurrency exchange.
  2. Verify your account.
  3. Go to the deposit section
  4. Go to the platform and select Ripple XRP.
  5. Enter how many Ripple XRP tokens you want to buy.
  6. Check the details and confirm your purchase.

Where to buy Ripple XRP in the UK

Are you searching for how to buy Ripple XRP in the UK? Well there are hundreds of crypto exchanges and brokers in the UK. This can make it hard to know which platform is right for you. 

List of the best Exchanges to buy Ripple XRP in the UK:

Looking where to buy Ripple XRP in the UK right now? Below you will find 4 of the best brokers that allow you to buy XRP in the UK. 

  • eToro - Best broker to buy Ripple (XRP) in the UK
  • Binance - Best exchange to buy Ripple XRP UK for asset diversity
  • Coinbase - Best exchange to buy XRP Ripple for beginners
  • OKEx - Best broker to buy Ripple (XRP) UK for low -cost

 

What is Ripple (XRP)?

The first thing you need to know is that Ripple is not the name of the cryptocurrency; it's used to refer to a real-time gross settlement system released by Ripple Labs Inc. and has its own native cryptocurrency called XRP. The project aims to provide quick, safe, and almost free financial transactions in any part of the world. 

Ripple supports various types of assets: from fiat currencies, cryptocurrencies, and commodities, to even mobile minutes and frequent flier miles. It uses an identical blockchain like Bitcoin, but it boasts of releasing such improvements that help it conduct transactions faster and more securely than in the case of other cryptocurrencies. Plus, Ripple differentiates itself from Bitcoin, Ethereum, and other cryptos, considering itself a bridge between fiat money and digital assets. 

Sometimes to describe Ripple, the word "freeish" instead of "free" is used. The problem is that Ripple does not charge any transactional fees like money transfer services do, such as credit cards, e-wallet, Paypal, etc. Instead, Ripple charges a small amount of XRP, which is just burnt but not transferred to any other account. 

Another advantage of this cryptocurrency is that it uses the escrow system to ensure user's stability in any marketplace. The company also managed to co-operate with many banks that use Ripple's products to improve their services.

With all of this, Ripple still has one significant disadvantage compared to most other crypto projects. Unlike the decentralized nature of cryptocurrencies, Ripple is centralized. To be precise, it belongs to the privately-owned company that possesses the largest amount of XRP. The whole amount of XRP Ripple released when launching the project is equal to 100 billion, of which only 50 billion is in escrow, and users can buy.

Read More: A Beginners Guide To Ripple

Should You Buy Ripple (XRP)?

Ripple is one of the oldest cryptocurrency projects, and it has had lots of price fluctuations from the time it launched. Looking at the Ripple price history charts, we can see two significant ups and downs of its value. The first one took place at the end of 2017, and XRP reached its all-time maximum in January 2018. At that time, XRP was trading at $2.96.

Ripple price history, source: cointelegraph.com

In 2020, when most other cryptocurrencies were experiencing significant growth, Ripple suffered massively from the lawsuit with the U.S. Securities and Exchange Commission. SEC blamed Ripple for illegally selling $1.3 billion XRP and considered that those XRPs were sold as "securities" rather than a cryptocurrency. Though the lawsuit significantly affected Ripple's value, the company succeeded to recover from it. 

Ripple experienced another growth recently when all the cryptocurrencies were in the bull market following the massive increase of Bitcoin's value. In April 2021, it hit its maximum of the year and was traded at $1.9. Soon, again following the crypto market crash, it started to decrease. Now, it makes some recovery attempts, and at the moment of writing, XRP is traded at $1.16.

So, how risky is it to invest in Ripple? In fact, investing in all sorts of cryptocurrencies involves higher risks because of their volatility. Still, unlike those hundreds of crypto projects that copy each other, Ripple relies on some of its unique technologies. In the first place, it offers solutions to one of the biggest problems in the market. Next, it's one of the largest cryptocurrencies by its market cap and so far has gained lots of partnerships and investors. 

In contrast to this, Ripple has some striking disadvantages, predominantly its centralized nature and the case with SEC. In short, Ripple involves risks, but this is always the case when you invest in cryptocurrencies or in crypto-related projects. Plus, Ripple has room for growth, as it has a limited amount of XRPs, which gradually decreases, and the scarcity means that its value can increase. 

Check Out: 23 Reasons Why You Should Invest in Ripple XRP Today

How to Buy Ripple (XRP) online in the UK - A Step by Step Guide

You can buy Ripple in the UK through a cryptocurrency exchange platform, which is the quickest and simplest way of investing in Ripple. In this part of our guide, we will explain step-by-step how to do it - from finding the best exchange platforms to storing your XRP safely. 

1. Find a UK Crypto Exchange that Supports Ripple (XRP)

You may find several cryptocurrency exchange platforms operating in the UK that support trading XRP. But these exchanges usually differ in their services. Some offer above-average trading fees; others have poor customer service, some are not regulated, etc. It means that before selecting the best exchange, you need to browse a little bit on the internet and research about the most suitable platform for your needs. 

We have already conducted research and introduced below one of the most reputable cryptocurrency brokers to buy Ripple in the UK with low fees. 

eToro: Founded in 2006, this broker is one of the most popular and largest trading platforms with millions of users worldwide. eToro supports various cryptocurrencies, including Ripple, which you can buy with zero commission. Instead, the platform charges only a buy-and-sell spread when you buy cryptocurrencies outright. 

What makes eToro unique is its social trading platform with its fascinating tools that allow you to follow and copy the trades of experts. The platform is also licensed and heavily regulated by top-tier authorities, including FCA in the UK. 

To allow you to trade on its platform, eToro requires a minimum deposit of $200 that you can deposit through multiple payment methods. You will also need to pay small conversion fees if you make non-USD contracts.

2. Register for an Online Account and Deposit Funds

To buy Ripple on the exchange platform, you must open an account and deposit funds on it. The registration process is a matter of minutes on most of the popular brokerage platforms. You need to fill in your name, surname, contacts, address, after which the verification process is required. Verification is essential for keeping your trades safe and away from being hacked. As long as your account is verified, you can deposit the amount of money you want to invest, obviously taking fees and deposits into the account. 

3. Buy Ripple (XRP)

Now, you can buy XRP, for which you need to search it on the chosen platform and fill in the amount of Ripple you want to get. If you see the amount of XRP on your account, your buy order is completed successfully. 

4. Transfer Your XRP Coins Funds to a Cold Storage Wallet

Caring for the safety of your coins is a must as long as they are more vulnerable to fraud if you leave them on your exchange account. You can consider transferring those coins to a cold or hot wallet. In this case, you get private keys and have access to your XRP through these keys.

​​If you buy XRP as a long-term investment while having other coins to store, you can consider buying a cold storage wallet. The latter is a physical device that helps to keep your coins offline like you keep your cash in the wallet. Hot wallets are also secure, but not as much as cold wallets. They are software apps that you download and install on your device. Later, you can transfer your coins between your hot wallet and exchange account quickly and easily. 

How to Trade Ripple (XRP) in the UK - A Step by Step Guide

If you want to trade Ripple and don't know where to start, here is a complete guide explaining step-by-step how to trade Ripple in the UK.

1. Find an Online Trading Platform that Supports Ripple (XRP)

To start with, it's important to find a UK broker that supports XRP and offers good services with competitive fees. Depending on how many transactions you will conduct or the amount of XRP you want to trade, you need to consider the trading fees that the broker charges. Trading fees include either spreads or commissions, while many brokers charge both of them. 

eToro, for instance, is one of the most popular trading platforms, and it charges zero commissions, which means that you don't pay any percentage of your trade to the broker. Instead, you pay a buy and sell spread which is 2.45 % for XRP.

2. Fund Your Account

To trade XRP, obviously, you need to deposit some money into your brokerage account. It's essential to check beforehand if the trading platform offers such payment methods available for you. So, try to choose a broker with multiple payment methods so that if one does not work, you can use the other one. 

3. Develop a Trading Strategy 

One last step before you start trading XRP - select a trading strategy for you. A trading strategy is a good way of decreasing the risks and makes your trades organized. For this purpose, you will probably need to do market research and understand what trading strategy will best suit your needs. 

There are active trading strategies for those who have enough time to be actively involved in trading, do research, follow market news, etc. And there are also passive strategies if you are too busy and want to make some profit from trading.

4. Start Trading Ripple (XRP)

Finally, with a funded account and trading strategy, you can start trading XRP. In this phase, you are just required to search Ripple on the brokerage platform, fill in the amount of XRP you want to buy, and open a trade. 

Don't Miss: 5 Reasons Why Ripple Could Double Your Money

Ripple (XRP) Pros and Cons

If you still hesitate about buying Ripple or not, here are some good and bad things about the project that will probably help you make a better decision. 

Pros of Ripple

  • Ripple is the sixth-largest cryptocurrency by market cap.
  • It’s not a copy of another crypto project and offers problem-solving ideas.
  • Ripple has lots of partnerships, including several banks and investors. 
  • It's an inexpensive and affordable asset for beginners. 

Cons of Ripple

  • Unlike crypto’s decentralized nature, Ripple is centralized.
  • It got affected by the SEC lawsuit.
  • Ripple has intense competition with other payment systems.

Is Ripple (XRP) a Good Long-Term Investment?

In terms of the long-term goals that Ripple set for the project and its initial successes, we can say that Ripple is an excellent long-term investment. It introduces some problem-solving ideas that can help change the speed at which people make transactions in any part of the world. It means that Ripple is not just a trending cryptocurrency that will lose its value when people lose interest in it, but instead, it has tangible goals and works on establishing an improved payment system. 

Don't Miss: Will Ripple Make Me Rich in 10 Years?

What Will Ripple (XRP) Be Worth in 2025?

Price predicting algorithms give some contradictory predictions for Ripple's long-term predictions. From the three platforms that we looked at, the most optimistic predictions are those of the Digital Coin Price. According to their predictions, XRP will increase to $3.61 in 2025 and will be trading above $5.34 in 2028. 

The Wallet Investor algorithm also predicts growth for Ripple XRP.  According to their platform, Ripple's price will increase to $3.77 in five years. Long Forecast predictions are the most pessimistic - they forecast a drop in value: according to them, Ripple will be traded at below $0.5 and above $0.3. 

What’s The Purpose of Ripple (XRP)?

Generally, Ripple is a payment settlement system and currency exchange service that aims to bring transactions to a new level. These transactions can occur between fiat currencies, cryptocurrencies, and even commodities. By doing that, Ripple aims to make these transactions faster and safer. 

Is Ripple (XRP) Mining Profitable?

In contrast to Bitcoin and several other cryptocurrencies that you can mine, it's impossible to mine XRP. Initially, the Ripple Labs that manages the cryptocurrency project issued 100 billion XRP while almost half was sent to escrow so that users can buy it. If you see an XRP mining machine or hardware, it's probably a trap, as long as the only way of getting Ripple is purchasing it. 

Buying or Trading XRP in the UK - Things To Take Into Consideration

In short, Ripple is a cryptocurrency project that has gained a good reputation among crypto experts. Though investing in cryptocurrencies always involves risks, some cryptos are relatively less risky than others. Ripple is among those cryptos - it has excellent long-term goals, and if the project succeeds and prevails the SEC lawsuit, XRP can be a well-established cryptocurrency. 

Many experts think that XRP is undervalued right now and has room to grow. So, if you want to buy Ripple and believe that it can bring you a good return, we suggest you use one of the platforms in our list and also invest money you can afford to lose.

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.

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Why should you invest in Ripple in the UK?

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?

If you intend to invest in Ripple in the UK, it’s evident that XRP 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 it’s predicted to rise again.

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