How to Buy XRP in the UK – Buy Ripple (XRP) In Under 5 Minutes
If you’re based in the UK and want to invest in Ripple – all you need to do is find a suitable online broker that offers a market on XRP. You’ll want to select a provider that is regulated, supports your preferred payment method, and offers low fees.
If this is your first time purchasing cryptocurrency online, this guide will show you how to buy Ripple in the UK and which XRP brokers you should consider for the job.
#1 Broker to Buy Ripple (XRP) – eToro
How To Buy Ripple (XRP) – Choose a Broker
If you want to buy Ripple in the UK – you might want to consider one of the brokers listed below. All five have a great reputation in the cryptocurrency trading arena and allow you to invest in XRP in a low-cost manner.
- eToro – Overall Best Broker to Buy Ripple UK
- Coinbase – Best Broker to Buy XRP for Beginners
- OKEx – Best Low-Cost Broker to Buy Ripple UK via a Crypto Deposit
- Binance – Best Broker to Buy Ripple for Asset Diversity
- Coinjar – Best Broker to Buy XRP UK for Those on a Budget
If you want more information on any of the brokers listed above – you’ll find a full review of each provider further down in this guide on how to buy Ripple UK.
Based in the UK and looking to buy Ripple instantly with a top-rated brokerage site? If so, the walkthrough below will show you how to buy XRP with the FCA-regulated platform, eToro.
How to Buy Ripple in the UK – A Quick Guide For 2022
- Step 1: Open an Account with eToro – You’ll need to first register an account with eToro by entering your personal details.
- Step 2: Upload Your ID – This top-rated trading platform is FCA-regulated – so you’ll need to upload a copy of your driver’s license or passport.
- Step 3: Deposit Funds – Choose your supported payment method (e-wallet, credit/debit card, bank transfer) and proceed to deposit funds.
- Step 4: Buy Ripple – Enter ‘XRP’ into the search box at the top of the page. After clicking on the ‘Trade’ button, enter the amount of XRP tokens you wish to buy. Finally, click on the ‘Open Trade’ button to complete your purchase.
Where to Buy Ripple in the UK
When searching how to buy Ripple in the UK – you will be presented with hundreds of cryptocurrency exchanges and brokers. This can make it super-difficult to know which platform is right for you. For example, you need to look at everything from regulation and payment methods to fees and customer service.
Strapped for time and looking at where to buy Ripple in the UK right now? If so, below you will find a selection of brokers that allow you to buy XRP in the UK.
1. eToro – Overall Best Broker to Buy Ripple UK
We spent countless hours testing the ins and outs of dozens of online cryptocurrency platforms and found that all in all – eToro is the best broker to buy Ripple in the UK. The first thing that stood out for us is that eToro appears to be one of the very few brokerage sites in the UK that is authorized and regulated by the Financial Conduct Authorty (FCA).
Crucially, this means that you can be 100% sure you are using a top-rated and secure broker. After all, this is why eToro has since attracted over 20 million clients and is planning to go public later this year. On top of offering a safe and secure ecosystem, eToro also allows you to buy XRP in a low-cost manner.
This is because you will only need to cover the spread – as opposed to paying a variable commission. The minimum investment threshold is low too – eToro allows you to purchase cryptocurrency from just $25 per trade – which is about £18. When it comes to getting money into and out of your account – eToro supports Visa, MasterCard, Paypal, Skrill, bank transfers, and more. The deposit fee on all supported payment types is just 0.5% – which is arguably the cheapest in the cryptocurrency industry.
A number of passive investment and trading options are also offered by this popular broker. First, you have the CryptoPortfolio – which is managed by the eToro team. This consists of a basket of digital currencies – which is weighted based on market capitalization. This is good for diversification purposes as well as ensuring that you are not overexposed to Ripple. Second, you have the eToro copy trading tool.
This allows you to select a successful eToro trader – of which there are thousands to choose from. Once you have picked an investor, you will then copy all of their future trades like-for-like. If you are also thinking about diversifying into other financial instruments, eToro has you covered. On top of CFD markets that track indices, forex, and commodities – you can also buy shares and ETFs in thousands of companies from multiple UK and international exchanges.
- Invest in cryptocurrencies on a spread-only basis
- Buy thousands of UK and international stocks at 0% commission
- Minimum investment per trade from just $25
- Supports debit/credit cards, e-wallets, and local bank transfers
- Regulated by the FCA, CySEC, and ASIC
- Used by over 20 million people
- Perfect for beginners
- Social and copy trading tools
- Perhaps too basic for technical traders
- No support for MT4 or MT5
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 68% of retail investor accounts lose money when trading CFDs with this provider.
2. Coinbase – Best Broker to Buy XRP for Beginners
Coinbase is a US-based cryptocurrency broker that also has a strong presence in the UK. Launched in 2012 – this makes the platform one of the most established in the UK. As per its latest filing – Coinbase claims to now be home to over 35 million active traders.
In particular, Coinbase is suited for those of you that want to gain exposure to cryptocurrencies – but in a simple and burden-free way. The broker allows you to buy XRP in less than 10-15 minutes from start to finish – which includes the process of opening an account and uploading a copy of your passport or driver’s license. Coinbase also supports debit card payments – meaning that you can buy XRP in the UK instantly.
The key problem with Coinbase is that it does charge hefty fees – at least in comparison to other brokers in this space. For example, you will pay a standard commission of 3.99% to buy Ripple with a debit card. If you deposit funds via a UK bank transfer, you won’t pay a transaction fee. You will, however, need to pay a trading commission of 1.49% when you buy Ripple and again when you cash out.
On the flip side, whilst Coinbase is a bit pricey, the broker does ensure that your investment funds remain safe at all times. For example, it is mandatory to set up two-factor authentication. This means that on each login attempt – you will need to confirm a code that is sent to your mobile device. You then have device whitelisting – which requires an additional security step should you try to sign in with a different laptop or phone.
Coinbase is the original platform that beginners use to buy and sell cryptocurrencies. It’s simple and easy to use, but Coinbase Pro offers more features for advanced users. You can access Coinbase Pro if you have a Coinbase account, and it has low fees and more trade types. For more experienced traders, Coinbase Pro offers access to limit and stop orders for more sophisticated trading.
Furthermore, Coinbase also keeps at least 98% of client-owned digital assets in cold storage – meaning the funds are kept offline and away from servers. You might also be interested in the Coinbase debit card – which is issued by Visa. This allows you to spend your cryptocurrency holdings in the real world – online, in-person, or at an ATM. Finally, Coinbase also offers a trusted mobile wallet – which allows you to store your XRP tokens securely.
- One of the most popular cryptocurrency exchanges
- More than 35 million users
- Supports instant debit card purchases
- Dozens of digital currencies to choose from
- Institutional-grade security practices
- Debit card deposits are expensive at 3.99%
- You will pay a standard trading commission of 1.49%
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 68% of retail investor accounts lose money when trading CFDs with this provider.
3. OKEx – Best Low-Cost Broker to Buy Ripple UK via a Crypto Deposit
Next up is OKEx – which is one of the best brokers to buy Ripple in the UK in exchange for another digital asset. For example, if you are currently holding Bitcoin or Ethereum, there is no need to deposit funds with a debit/credit card to buy XRP. Instead, you can simply head over to OKEx, transfer the digital currency into your account, and then exchange the coin for Ripple.
This option offers a number of benefits – such as extremely low trading fees. In fact, other than the small blockchain fee that you need to pay when depositing coins into OKEx, you will only pay a commission of 0.10%. This is even lower if you trade large volumes. In terms of what digital currencies you can swap for XRP at OKEx – this includes Bitcoin, Ethereum, Tether, and more. OKEx is used by over 20 million traders – so there will be no issues finding sufficient liquidity.
Although OKEx is one of the best platforms for crypto-to-crypto exchanges, the provider also has the legal remit to accept fiat currency deposits. This includes debit and credit cards issued by Visa and MasterCard. Additionally, you can also transfer funds from your UK bank account. In addition to its core trading and brokerage services, OKEx is involved in a number of innovative products that might interest you.
For example, the OKEx Earn feature allows you to earn passive income on cryptocurrencies you currently own. This is because OKEx will lend the funds to margin traders – which in turn, comes with interest for as long as the position remains open. In this sense, the risk of loss on your crypto assets is minimal. Finally, OKEx is also a good option if you want to improve your knowledge of cryptocurrency investing – as the platform is home to an extensive education suite.
- Trusted crypto exchange with over 20 million users
- More than 400+ digital currency pairs
- Buy and sell cryptocurrencies with a debit/credit card or bank transfer
- Low commissions that start from 0.1%
- Fully-fledged mobile app on Android and iOS
- Great reputation and highly secure
- Debit/credit card fees could be more competitive
- Derivative products too complex for beginners
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 68% of retail investor accounts lose money when trading CFDs with this provider.
4. Binance – Best Broker to Buy Ripple for Asset Diversity
Binance is now the largest cryptocurrency exchange globally – with billions of dollars changing hands on this platform each and every day. According to the exchange itself, Binance is now home to over 100 million active trading accounts. This top-rated provider allows you to buy XRP in the UK instantly with a debit or credit card.
First, you will need to open an account and upload your government-issued ID. In the vast majority of cases, Binance will be able to verify your document instantly. Then, you can proceed to enter your card details, select XRP from the drop-down list, and choose the amount you wish to buy.
This will cost you 1.8% of the total transaction amount – which is reasonable. With that said, eToro offers the same service at just 0.5% – which is much cheaper. Nevertheless, Binance also supports payments via the Faster Payments Network – which are both free and near-instant. Then, you would simply need to find the GBP/XRP market to complete the purchase. This would result in a super-low commission of just 0.10%.
Binance offers hundreds of other digital currencies of all shapes and sizes – including a significant number of ERC-20 tokens. As such, this platform is ideal if you want to build a highly diverse cryptocurrency portfolio in a low-cost manner. Binance also offers savings accounts, which allow you to earn interest on your crypto assets. You can choose between a flexible or locked account, with the latter offering higher rates of interest.
- Facilitates billions of dollars in daily trading volume
- Supports hundreds of digital asset pairs
- Near-instant deposits via debit/credit cards and local bank transfers
- Trading commission starts at just 0.1% per slide
- Offers crypto savings accounts
- Ideal for both beginners and experienced traders alike
- Not all supported cryptocurrencies can be purchased with a debit/credit card
- No e-wallet deposits or withdrawals
5. CoinJar – Best Broker to Buy XRP UK for Those on a Budget
If you’re looking to buy Ripple in the UK but you don’t want to risk a lot of money – you’ll need to find a broker that accepts small deposits. At the forefront of this is CoinJar – which allows you to get started with an inconsequential investment of just £5. You can get money into your CoinJar account by transferring funds from your UK bank account.
Much like Binance, this is processed via the Faster Payments Network – so there are no fees involved and the funds should arrive in a few minutes. Once the money does land in your CoinJar account, you can buy Ripple at a commission rate of 1%. The other option you have is to do an instant purchase via your UK debit/credit card.
This will attract a higher commission of 2%. Much like the other platforms we have reviewed today, CoinJar gives you access to a great selection of other digital assets. This includes everything from Bitcoin, Stellar, and Ethereum to EOS, Litecoin, and Tether. In fact, you also buy a number of promising DeFi coins – such as Uniswap, Yearn.finance, and Balancer. Coinjar also offers a mobile app – which allows you to buy and sell, set up price alerts, and store your digital tokens.
- Has been active in the crypto brokerage arena since 2013
- Very user-friendly platform – so is perfect for beginners
- Mininmum deposit of just £5
- No fees to deposit funds via Faster Payments
- Debit/credit cards also supported
- Top-rated mobile app
- Too basic for experienced cryptocurrency traders
6. AvaTrade — Reliable MT4 & MT5 Broker to Buy XRP
AvaTrade’s web trading platform is both intuitive and accessible, resulting in a seamless user experience. It provides users with a detailed graph/chart to analyze the price movements of various assets. AvaTrade also offers advanced trading platforms such as MetaTrader 4, MetaTrader 5, and automated trading platforms like DupliTrade and ZuluTrade.
AvaTrade, like most trading platforms, allows users to trade on the go with its mobile/smartwatch app, which is available for both iOS and Android devices. Furthermore, AvaTrade provides a free demo account (valid for three weeks) that allows users to test their trading skills without the risk of losing money.
- You can use MT4 and MT5 trading terminals.
- Competitive crypto spreads.
- High-class educational materials for beginners.
- The platform is regulated and accredited.
- An abundance of trading & financial tools.
- Funds withdrawal might take extra time on weekends
- Some investors claim pushy managers.
68% of all retail investor accounts lose money when trading CFDs with this provider.
7. Coinmama – Great Platform to Buy XRP
Coinmama is one of the oldest crypto exchanges in the world. It has been selling Bitcoins for fiat currency much longer than most other platforms, and it is also one of the safest platforms around. This is because, unlike other trading platforms, Coinamama doesn’t store your purchased cryptocurrency on its servers – rather, it transfers the cryptocurrency to your own wallet, so there are no incentives for hackers to attack it. You can buy XRP on Coinmama with your credit or debit card, via a bank account, and others.
Buy Bitcoin and other cryptocurrencies now, faster, and easier than ever with the Coinmama Android mobile app! Sign up quickly and easily, get verified in minutes, and start buying your favorite cryptos today – it’s that simple! With a sleek design and selection of cryptocurrencies to buy, including Bitcoin, Ethereum, Cardano, Bitcoin Cash, and Litecoin, Coinmama’s mobile app is perfect for managing your wealth on the go.
Unlike other competitors such as eToro, Coinmama does not have an iOS mobile app. It is only currently available via the Android mobile app. You can buy up to $100,000 worth of cryptocurrency, but you need to fully verify your identity. Apart from uploading your government-issued ID and proof of address, you also need to contact the team directly via email to fill out a form.
- Easy to use
- Sends XRP to your own wallet, which is safer
- It takes one hour to receive the crypto to your wallet
- Multiple payment methods are available
- Very easy to buy cryptocurrency
- High fees
- No mobile app
8. Kraken – Reputable Platform to Buy XRP
Kraken is one of the oldest cryptocurrency exchanges and it was founded as early as 2011 in San Francisco, California. Since Kraken is available globally. Furthermore, Kraken has a “pro financial freedom” and “inclusive” mission statement which makes it a tad bit more special.
Kraken has a really nice and user-friendly UI design. Through this broker’s interface, you can instantly buy crypto through the “Buy Crypto” button but you will need to have a verified account first to do that. Fiat deposits can be conveniently made through the “Funding” section on the website or you can also use state-of-art iOS or Android Kraken mobile apps.
- Ease of use and sleek user-interface
- Support for all major coins and many altcoins
- Convenient payment methods
- Friendly interface for beginners
- Fee structure varies a lot and can be a bit confusing to stay on top of
- KYC verification is required upfront before any purchase can be made
- No phone calls. Customer Service is limited to chatting
9. Crypto.com – Earn Daily Interest on your XRP
Crypto.com offers a simple, secure way to buy and sell cryptocurrencies. With more than 150 different currencies supported, Crypto.com is a one-stop shop for all your cryptocurrency needs! Plus, discounts are offered for those who hold a significant stake in Crypto.com Coin (CRO).
With the Crypto.com mobile app, buy and sell Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) in seconds. The Crypto.com app allows you to check the value of your portfolio in both your local currency and cryptocurrency at a glance and transfer funds from one wallet to another seamlessly without unreasonable rates. In addition, users can stake CRO on the Crypto.com App to receive a premium metal Crypto.com Visa debit card along with better APR in Crypto Earn and Crypto Credit!
Crypto.com offers you the perfect platform for trading without any hefty fees. With a low 0.40% fee on trades with a monthly volume of less than $25,000, Crypto.com is definitely your best bet for trading cryptocurrencies. Plus, Crypto.com’s platform is easy to use and navigate, so you’ll be able to trade with confidence. Trading has always been risky, but with Crypto.com, you’ll have everything you need to manage risk the best way possible.
Looking to add some serious growth potential to your Ripple and other cryptocurrency assets? Crypto.com is here to assist you! By depositing your favorite cryptos into the incredible Crypto Earn feature, you can begin passively accruing interest on a daily basis. This is a fantastic way to watch your portfolio value steadily increase over time. So why wait? Sign up today and get started on your path to riches!
Are you looking for ways to make some extra money from the crypto world? Check out our list of best crypto staking platforms! Staking is a great way to earn rewards from your favorite cryptos, and with so many platforms available, there’s sure to be one perfect for you. So what are you waiting for? Start staking today!
What could be more fitting for a company called Crypto.com than to have their name on the world-famous Staples Center? That’s right, in a massive $700 million deal, Crypto.com has rebranded the stadium as the Crypto.com Arena! So whether you’re into sports or not, this is definitely one site you’ll want to check out for all your cryptocurrency needs!
Cryptocurrency has never been easier to use than with Crypto.com. With features like low-fee trading and your very own Crypto.com Visa debit card, you’ll be able to use your cryptocurrency in any way you please. So get started today and see the power of crypto for yourself!
- Buy and sell a wide variety of cryptocurrencies with low fees
- Earn cashback rewards and enjoy numerous privileges
- Invest in a portfolio of coins and tokens with just one click
- Earn interest on your crypto holdings
- Safe and Secure Transactions
- Fees are higher unless you own and utilize CRO
- Navigating can be difficult for beginners
- Inadequate client service
- Discounted trading fees can be difficult to understand
- Insufficient educational resources
10. Uphold – Invest in the Future of Ripple
What’s the best way to buy Ripple? With Uphold, of course! Uphold is committed to giving you the easiest way to buy Ripple. Upholds accept credit cards, debit cards, and bank transfers, allowing you to invest in Ripple when and how you wish. Plus, Uphold’s low fees make it easy to get started. So why wait? Sign up today! Buy now and be on the cutting edge of the digital currency revolution!
Uphold is the perfect way to get started with investments. With one account, you have access to stocks, commodities, and cryptocurrencies from all over the world. Uphold makes it easy to get started, and its powerful selection provides all the options you need. Furthermore, Uphold’s platform is secure and easy to use, so you can get the most out of your investment.
Looking for a safe and secure way to buy precious metals or conduct crypto-to-crypto trading? Look no further than Uphold. Uphold offers dedicated customer support, an intuitive platform, and competitive rates.
Uphold users can purchase an assortment of assets without incurring fees using an ACH withdrawal or bank account. Nevertheless, like Coinbase, Uphold imposes a 3.99% transaction fee on credit card transactions. Nonetheless, Uphold’s spread is significantly wider and more variable.
The exchange rate is dependent on the nature of the asset being converted. In terms of cryptocurrencies, the spread varies between 0.80% and 1.20% for users in the U.S. and Europe and is roughly 1.80% in other countries.
Uphold is your personal financial freedom fighter. With no fees for bank deposits or withdrawals, Uphold gives you the freedom to do what you want with your money. With fast, easy transactions, you can invest in Ripple easily. Whether you’re looking to save, spend, or invest, Uphold has a solution tailored specifically for you, So why wait? Sign up now and join the Uphold revolution!
Uphold makes it simple and easy to manage your money so that you can focus on the things that matter. So log in online or via the Uphold mobile app and get started today!
Looking for the best Ripple (XRP) wallets in the UK? Look no further! Our top picks are packed with features and offer incredible security and convenience. Plus, they’re easy to use – so you can send and receive XRP at the click of a button. In addition, many of our top-rated XRP wallets also support other digital currencies, making them perfect for multi-currency holders. So what are you waiting for? Start comparing today and find your perfect Ripple wallet!
- Provides trading in precious metals, equities, and cryptocurrencies
- Without any hidden fees or spreads, you’ll always know what you’re going to get
- Eliminate the fear of making costly mistakes when managing digital assets
- You can begin using Uphold in minutes
- Compared to competitors, it has fewer educational resources
How to Buy Ripple (XRP) in the UK – Detailed & Explained in Full
If you are looking to buy Ripple in the UK – but this is your first time investing in the crypto arena, we are now going to walk you through the process. For our detailed tutorial, we explain the required steps with eToro. Not only is this because eToro is authorized and regulated by the FCA – but it offers some of the lowest trading fees in the cryptocurrency space.
CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.
CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.
CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.
Mobile App Rating
Number of Coins
Step 1: Open a Crypto Broker Account
To get started with eToro, you will first need to register. This should only take a few minutes and the broker simply needs to collect some personal information from you. Think along the lines of your first and last name, date of birth, and home address.
On top of choosing a username and strong password, you’ll need to confirm your UK mobile number. This can be achieved by entering the unique code that eToro sends to your phone via SMS.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Step 2: Upload ID
You will be buying XRP at eToro with pounds and pence -so the broker will first need to verify your identity. This is also a burden-free process, as you simply need to upload some ID and a proof of address.
- ID: This can be a passport or driver’s license
- Proof of Address: This can be a utility bill or bank account statement (issued within the last three months)
In most cases, your document will be verified automatically. With that said, eToro allows you to buy XRP in the UK up to a value of $2,250 (about £1,600) without completing the verification process. You will need to do this to make a withdrawal though – so it’s best to get this out of the way now.
Step 3: Deposit Fund
eToro will now guide you through the deposit process. First, you need to select the payment type that you wish to use. To recap, supported payment methods at eToro include debit and credit cards, e-wallets (including Paypal), and a bank transfer.
The deposit fee amounts to just 0.5% and the minimum stands at $200 – or about £160.
Step 4: Search for XRP
On top of cryptocurrencies, eToro is home to thousands of other financial instruments. As such, the easiest way to buy Ripple on the platform is to search for ‘XRP’ and click on the result that loads.
In doing so, you will then need to click on the blue ‘Trade’ button – which you will find on the next page.
Step 5: Buy Ripple UK
The final step is to create a buy order – which lets eToro know that you wish to invest in Ripple. By default, you will be placing a market order, which ensures that your investment is processed instantly. If, however, you want to buy XRP at a specific entry price, you can do this via a limit order.
Either way, you also need to enter your stake into the ‘Amount’ box. Much like the global cryptocurrency market – eToro operates exclusively in US dollars. As such, enter your investment amount in USD – ensuring you meet the minimum trade size of $25.
Once you are happy with the specifics you have entered – click on the ‘Open Trade’ button to complete your XRP investment!
Buy Ripple – Best Place to Buy XRP in the UK
Ripple has held its status as a multi-billion dollar crypto asset for many years. With this in mind, there are hundreds of platforms that allow you to buy Ripple from the comfort of your home. Other options exist too – such as cryptocurrency ATMs.
To help you choose the right method for you, below we discuss the best place to buy XRP in the UK.
Online Cryptocurrency Broker
Cryptocurrency brokers are not too dissimilar to a conventional stock trading site. This is because the broker must hold a regulatory license with the relevant financial authorities.
- For example, eToro is not only licensed in the UK by the FCA, but with bodies in Australia and Cyprus.
- This means that you can be sure you are using a credible platform that takes investor protection and client fund segregation seriously.
- Additionally, by using a regulated online broker, you will likely have the option of being able to buy Ripple in the UK with a debit or credit card.
Platforms like eToro also support bank transfers and e-wallets. This makes the investment process simple and convenient – especially if you are looking to buy XRP for the first time.
There are hundreds of cryptocurrency exchanges active in the online arena – most of which are unlicensed. This is because they do not support fiat currency deposits or withdrawals. On the contrary, these platforms can only accept payments in the form of digital currency.
With that said, some unregulated cryptocurrency exchanges get around this by processing fiat deposits via a third party. Although perhaps not illegal, this still means that you will be entrusting your hard-earned money with an unregulated entity. Proceed at your own risk when using an unlicensed cryptocurrency exchange – as you can never truly be sure you are using a legitimate provider.
There are several hundred Ripple ATMs scattered around the world – but only 10 are currently situated in the UK.
Nevertheless, if you do have a crypto ATM nearby that supports XRP – the process works as follows:
- Enter the amount of Ripple you want to buy
- The ATM will tell you how much you will get for your stated amount
- Insert the cash into the machine
- Collect the receipt that is printed
The receipt will give you instructions on how to claim your XRP coins via cryptocurrency wallets.
Ways to Buy Ripple UK
As we have briefly covered throughout this guide – there are many ways to buy Ripple in the UK. More specifically, you have a variety of options when it comes to choosing your preferred payment method.
This includes the following:
Buy Ripple With Debit Card
The best way to buy XRP in the UK is to use your everyday debit card. Whether that’s issued by Visa or MasterCard – the best cryptocurrency brokers allow you to invest in Ripple in this manner. You will first need to open an account with your chosen provider and then go through a quick Know Your Customer (KYC) process.
This is because you are using fiat currency and thus -the broker is legally required to verify your identity. Once this is done, you can proceed to buy Ripple in the UK instantly. As we cover in more detail later, just be sure that you know how much the broker charges in fees. This is because we have come across platforms that charge in excess of 5%.
Buy Ripple With Credit Card
Several platforms also allow you to buy Ripple with a credit card. The process works much the same as using a debit card, albeit, you need to check whether additional fees apply. For example, you might need to pay a cash advance fee if your credit card issuer viewed brokerage payments as a cash advance.
Buy Ripple With Paypal
A select number of online brokers allow you to buy Ripple with Paypal. eToro, for example, will charge you just 0.5% to deposit funds with this payment method. The same broker supports other e-wallets too – such as Skrill and Neteller.
Buy Ripple With Bitcoin
If you want to buy Ripple with Bitcoin, you are best advised to use a cryptocurrency exchange. First, you will need to quickly register with the exchange provider – which should only take you 30 seconds.
This is because you are conducting a crypto-to-crypto transfer – so the exchange doesn’t need to collect any personal information from you – other than an email address. Then, you will need to search for XRP/BTC – before completing the exchange.
Why Buy Ripple UK?
So now that you know where to buy XRP in the UK and which brokers are worth considering – it’s now time to do a bit of research on Ripple itself. After all, you will be risking money by investing in this digital asset – so it’s best to spend some time assessing what the future holds for XRP.
Ripple is Looking to Revolutionize Cross-Border Payments
Unlike a lot of cryptocurrency projects in this industry – Ripple is behind technology that has the potential to revolutionize a major industry – cross-border payments. More specifically, the Ripple framework allows banks and large financial institutions to transfer funds in a fast and low-cost manner.
At present, the vast majority of interbank transactions are facilitated by SWIFT. For those unaware, SWIFT is a third-party intermediary that sits between the sender and receiver. In most cases, SWIFT requires several stakeholders to process the transaction when it is being conducted in competing currencies – which includes corresponding banks.
As a result, it often takes days for the funds to arrive and fees are often costly for both parties involved. This is where Ripple and its XRP come in. Put simply, the Ripple protocol can facilitate near-instant cross-border transactions that cost just a fraction of a penny.
The XRP token itself forms the crucial bridge between the sender and recipient, meaning that there are always sufficient levels of liquidity available – irrespective of which currencies are involved in the transaction. Ultimately, this gives XRP real-world usage, which is vital for the digital currency to grow over the course of time.
Ripple Tokens are Cheap
Another reason why people in the UK are interested in Ripple is that its XRP token is considered cheap. This is because, at the time of writing, you will pay just $1.19 per token – which is about £0.89. This means that for an investment of just £89 – you would get 100 XRP tokens. This allows you to build a sizable position with a small capital outlay.
Like a lot of digital currencies, Ripple has experienced a significant valuation increase since the token was launched in 2013. According to CoinMarketCap, XRP price was at just $0.005 per token back then. Fast forward to early 2018 and the same crypto-asset breached a price of $3.40.
Although the cryptocurrency has since retreated, at current levels of $1.19 per token this still represents a huge amount of profit for those investing back in 2013. In fact, this translates into gains of over 10,000%.
Less Volatile Than Many Other Cryptocurrencies
Based on current prices, Ripple and its XRP token are carrying a market capitalization of over $30 billion. Such a large valuation ensures that unlike many other digital currencies in this industry, XRP is a lot less volatile. This means that wild pricing swings won’t be as frequent when investing in Ripple – at least in comparison to the wider market.
Buy the Dip
Earlier this year, XRP was trading at $1.93. Since that time, XRP price has fallen back to $0.66 to rise again to its current price of $1.19.
While this does represent a rapid decline, if you believe in the long-term potential of Ripple then this does allow you to buy the digital asset at a reduced price. If XRP is able to recover its previous 2021 highs of $1.93 – this would require an upswing of over 50%.
The Cost of Buying Ripple
If you want to buy Ripple online in the UK – you will need to check what fees your chosen broker charges. The main fees to consider are discussed below.
When using fiat currency to deposit funds into the cryptocurrency broker – fees usually apply. For example, debit/credit card deposits are usually the most expensive – with Coinbase and Binance charging 3.99% and 1.8% respectively. Bank transfers via the Faster Payments Network are usually free.
We found that eToro is the most competitive in the payment fee department – as the platform charges 0.5% across all of the supported deposit types.
XRP Trading Fees
You often need to pay a commission to buy XRP in the UK. This will be charged against the value of your trade. For example, Coinjar charges a commission of 1% – so a £1,000 trade would cost you £10.
Then, if you sell your XRP tokens back to cash when they are worth £1,500 – your 1% commission will amount to £15. eToro, on the other hand, will only charge you the difference between the buy and sell price – otherwise known as the spread.
Ripple Wallet Fees
When storing your tokens in a private Ripple wallet – you need to lock away 20 XRP. This is to prevent the Ripple network from a global spam attack. You won’t be able to touch that 20 XRP for as long as you wish to keep the wallet active.
Risks of Buying Ripple in the UK
Before buying XRP in the UK – make sure you consider the risks involved.
The three main risks that we identified are discussed below:
Success is not Guaranteed
Although Ripple has formed partnerships with a significant number of banks and financial institutions, there is no guarantee that the underlying technology will revolutionize the cross-border payments industry.
In fact, there is every reason to believe that SWIFT – which currently holds the monopoly in this space, will eventually bring out a framework that operates in a similar nature to Ripple.
As of November 13th 2021, XRP price currently stands at $1.19 as hope for a positive outcome to the SEC vs. XRP lawsuit continues to grow.
XRP Liquidity is Only Needed for a Few Seconds
When XRP is used as a liquidity bridge to facilitate cross-border payments for competing currencies – it is only needed for a few seconds. This means that the upside potential on XRP could be somewhat limited.
Furthermore, the team at Ripple might be keen on the value of XRP modest – otherwise, this will result in transactions being too expensive for financial institutions using the technology.
54% of XRP Supply Held by Ripple
The total supply of XRP tokens is 100 billion. Of this figure, approximately 46 billion – or 46%, is already in circulation. This does, however, mean that the team at Ripple is in possession of 54% of the total supply of XRP. Many would argue that this means Ripple isn’t decentralized at all – not least because the majority of tokens are held by a centralized entity.
Selling Ripple: A Quick Overview
If you’re wondering how to sell Ripple – the process depends on where you are storing your XRP tokens. For example, if the tokens are currently being held in a Ripple wallet, you will need to transfer them to a cryptocurrency exchange that supports your preferred market. In other words, if you want to sell Ripple back to pounds and pence – the exchange needs to support XRP/GBP.
On the other hand, if you bought Ripple from a regulated online broker and decided to keep the tokens there – cashing out could not be easiesr. For instance, at eToro, you simply need to sell the XRP tokens from within your portfolio. The funds will then be added to your eToro account – ready to be withdrawn.
How to Buy Ripple UK – Conclusion
In summary, you should now know how to buy Ripple in the UK with your preferred payment method. The most important thing is that you only use a regulated broker that has a great reputation for safety and client protection.
We found that the best way to invest in XRP in the UK is through eToro – which is regulated by the FCA. Getting started with an account takes minutes and you can then buy Ripple instantly with a debit/credit card or e-wallet.