How to Buy XRP: A Step-by-Step Guide

Follow this helpful guide to buy XRP for the first time.

Guy about to embark on a journey to XRP.
Created by Kornelija Poderskytė from DailyCoin

How to buy XRP is one of the first questions new crypto enthusiasts ask themselves after diving down the blockchain rabbit hole. In most cases, digital assets like Ethereum (ETH) and Ripple (XRP) are the next coins people think about buying after Bitcoin (BTC).

Fortunately, buying XRP for the first time is getting easier and easier as crypto exchanges improve their user interfaces and adopt more fiat currency on-ramps.


But before jumping straight into the crypto market, it’s important that we learn a bit about what we’re buying. What is Ripple and what makes the XRP cryptocurrency important?

What is Ripple (XRP)?

Ripple (XRP) is a digital currency designed to reimagine how traditional financial institutions move money. Ripple Labs was founded in 2012 by Jed McCaleb, Chris Larsen, and Arthur Britto and has since become one of the largest and most influential cryptocurrencies in the blockchain industry.

XRP logo.
Source: Ripple

One of the first alternatives to Bitcoin, Ripple makes it easier for financial institutions, like banks, to transfer funds internationally. While traditional currency transfer methods suffer from lengthy transactions and high fees, Ripple’s underlying technology streamlines the process and makes it far more affordable.

What Makes XRP Interesting?

If you’ve ever tried sending money internationally, you’ll know how frustrating it can be. You’ll begin the process on a Tuesday, but the funds might not arrive with the receiver until next week.


On top of that, the outrageous fees dig into your transfer, meaning that you could lose significant amounts of money and value, especially if you need to make regular transfers.

Ripple and the XRP Ledger (XRPL) fix this. Transfers on the XRPL are executed within 3-5 seconds, making it easy to transfer money across the globe quickly. Moreover, the average transaction cost will only set you back $0.0002 USD. 

How to Buy XRP on a Crypto Exchange

If you think XRP has a bright future and you’re ready to take your first steps into the altcoin market, the easiest place to get started is on a trusted cryptocurrency exchange. Here’s a step-by-step guide on how to buy XRP.

1. Register on a Cryptocurrency Exchange

The first thing you’ll need to do is choose a crypto exchange to register with. Cryptocurrency exchanges are trading platforms where you can exchange normal money for crypto and trade hundreds of digital currencies.

Popular cryptocurrency exchanges like Binance and Coinbase are known for their beginner-friendly platforms and simplistic design, so they make a great first exchange for beginners.

Bear in mind that different crypto exchanges charge different fees, so it’s worth doing some research to find a platform that will give you good value for your money.

We’ll use Binance, the world’s largest cryptocurrency exchange, in this example. Head to Binance’s official website, then follow the prompts to create your account. Depending on where you live, you might need to complete KYC verification.

2. Buy XRP with a Credit Card or Debit Card

Once your account has been created and verified, you’ll need to fund your account with fiat currency, which is crypto-speak for real money. 

The easiest way to do this is to head to the ‘Buy Crypto’ tab in the top left-hand corner of the page. Hover over the ‘Buy Crypto’ button, then click the ‘Buy Crypto via Bank Card’ option.

Instructions on how to buy XRP on Binance.
Source: Binance

On this page, you’ll see a simple panel on the right-hand side featuring dozens of different fiat currencies and crypto assets.

Using the fields provided, select XRP and your local currency, then input the amount of money you’re willing to buy. Your chosen crypto exchange will automatically quote you the best available price based on market conditions.

Instructions on how to buy XRP on Binance with a credit or debit card.
Source: Binance

If you’re happy with the quoted amount of XRP you’ll receive, go ahead and click ‘Add New Card. Fill in your credit/ debit card details and click ‘Confirm,’ and your purchase will automatically be processed.

3. Check Your Balance

Congratulations! You’ve successfully bought XRP. Suppose you want to confirm that your tokens are safely secured in your account. Click the Profile button in the top right-hand corner of the page.

This will bring you to your Dashboard, where you can track the value of your portfolio. Double-check that XRP is listed amongst your holdings to confirm that your order was processed correctly.

What Are the Risks Associated with Buying XRP?

Cryptocurrencies are deemed a high-risk asset class that is notorious for extreme volatility. Investing in crypto assets like XRP is considered risky investments due to the fact that the value of your holdings could fluctuate enormously without warning.

Beyond that, there are also the additional risks of crypto exchange failure. Unfortunately, crypto history is filled with stories of cryptocurrency exchanges going insolvent and bankrupt, with users losing everything.

If you’re concerned about the reliability of centralized exchange platforms, you should consider withdrawing your XRP to a self-custodial Ripple wallet.

On the Flipside

  • XRP is only one cryptocurrency amongst thousands of different altcoins, and it’s arguably outdated and outclassed by newer blockchains.

Why This Matters

XRP is one of the first cryptocurrencies that crypto newbies are interested in buying after Bitcoin. Learning how to buy XRP safely is an important step in your crypto journey.


Which exchange is best for buying XRP?

The best exchange for buying XRP is an exchange you feel safe and comfortable using. Preferably, it will also have high trading volume and low trading fees.

How can I purchase XRP?

You can purchase XRP by registering an account with leading cryptocurrency exchanges and trading your fiat currency for XRP.

Can I buy XRP on Coinbase?

Yes, XRP is listed and available to be traded on Coinbase.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Finn Miller

Finn Miller is a New Zealand-based blockchain writer for DailyCoin who specializes in simplifying complex blockchain topics. He is experienced in crafting whitepapers, researching on-chain data, and advising emerging crypto projects, and uses his unconventional approach to learning and passion for knowledge to provide cornerstone educational content for readers of all levels. When not exploring the depths of DeFi, Finn can be found exploring his other passion, the great outdoors.