After selecting the token, confirm the amount you want to purchase and pay using your preferred payment method. Different trading platforms will support various payment methods according to their user’s needs. One platform may allow its users to deposit and withdraw using a particular channel, while another will not support that channel altogether.
Decentralized Finance (DeFi) Platforms
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Equitybee gives accredited investors access to hundreds of private, VC-backed startups before they IPO. Securities and Exchange Commission (SEC) alleged that XRP was a security and charged XRP’s parent company — Ripple — with violating securities laws. Finder’s panel expects the XRP price to trade as high as $0.90 by the end of December 2022 from the current price of $0.53.
It is easy to purchase a variety of cryptocurrencies, making it a top choice among all investors. That said, the pending lawsuit against Ripple has made it more difficult to buy XRP, as several U.S.-based exchanges have delisted the cryptocurrency (most notably Coinbase). You can still buy it on Binance and several other brokerages, like eToro.
How to buy Ripple stock as an accredited investor
There is currently no way for retail investors to invest directly in Ripple Labs. On Hiive, investors can buy shares directly from employees, venture capital or hedge funds, angel investors, or anybody else with shares to sell. Its solutions are faster, more transparent, and more cost-effective than traditional financial services. Next, click the [To] field to specify which asset you intend to purchase. You can use the search box to search for XRP or click the [Cryptocurrencies] filter just below the search box, then select XRP from the list. Plus, DEXes typically only support crypto-to-crypto trades meaning you have to use another asset to acquire XRP, and you will have to buy it from a centralized platform anyway.
Step 4 – Fund your online account
It’s important to note that Ripple has been called a «Bitcoin-killer» since at least 2014, but it’s only in the last several years has gained real traction and momentum among crypto-currency enthusiasts. Our team is diligently working to keep up with trends in the crypto markets. The company’s CEO, Brad Garlinghouse, mentioned an IPO back in 2020, though the SEC lawsuit has delayed those plans.
- In this way, XRP is one of the more ambitious cryptocurrencies aimed at revolutionizing global payment systems and the digital economy.
- In the traditional sense of staking, XRP staking is not possible, where users lock up their tokens to validate transactions and earn rewards.
- Ripple (XRP) is the 7th-largest cryptocurrency by market cap, trading at $0.49 per token on April 16, 2024.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. Mijusko Sibalic is a content writer and copywriter that wandered into the financial space from a background in political science. Ever since then, his professional sights have been set on the same goal – communicating important topics regarding investing and the journey to financial independence to the wider public. Ripple Labs is a private company, so it isn’t required to publicly disclose its exact ownership structure. Be prepared to pay a markup on XRP’s market rate in exchange for the convenience.
You’ll find the spot market under a «Trade» or «Spot» heading on the site or app menu of the platform you’ve chosen to use. If you see colorful charts with a range of prices, you’re probably in the spot market. Most exchanges let you buy as little as $5 worth of XRP, if not less. Just type in how much you want to spend in USD and let the exchange work out the rest.
Ripple Labs is still a private company, meaning that retail investors cannot yet purchase stock in the company. Its shares are not publicly traded on exchanges, there is no Ripple stock price, or Ripple stock symbol. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site.
XRP has a loyal following which helped it reach an all-time-high price of $3.40 in January 2018. Ripple is different than it’s major competitors Bitcoin and Litecoin in that it was created by a private, for-profit company. When it was created, 100 billion XRP were released into the market, with 20 billion being held by the creators and the rest being given to Ripple Labs. Ripple Labs has since placed 55 billion XRP in an escrow account to ensure users stability in the marketplace. In January 2022, while the lawsuit was in full swing, Ripple Labs bought out its Series C investors at a valuation of $15 billion after its payments business doubled in 2021.
Decide how to pay for XRP
Uphold is a New York-based multi-asset company with cryptocurrency as one of its supported products. There are more than seventy cryptocurrencies available for purchase on its platform, and XRP is one of them. Below, we highlight a step-by-step guide on how you can use Uphold to purchase your first XRP coins. The P2P economy facilitates the direct exchange of cryptocurrencies between individuals, eliminating the need for intermediaries like centralized exchanges and financial institutions. Some cryptocurrency exchanges offer rewards programs for XRP holders.
Note the terminology of “trading pairs,” such as Bitcoin (BTC) to Tether (USDT). In the case of BTC/USDT, bitcoins can be converted into Tether, a stablecoin whose value is pegged to the U.S. dollar. While Bitcoin transactions can take minutes or more than an hour, the advantage of XRP is that its transactions are confirmed every three to five seconds. If you’re buying XRP, consider how you think an adverse legal decision might affect its value — and whether that’s a risk you’re willing to take. The SEC lawsuit is ongoing, despite the recent decision by the judge that its sales to consumers were not securities violations. Ripple stock is owned by previous CEO and co-founder Chris Larsen (17%), current CEO Brad Garlinghouse (6.3%) – the rest of the company’s ownership structure is unclear.
Keeping your tokens on the exchange is a good idea if you want to trade XRP over the short term. However, if you had a long-term outlook, migrating your assets to a software or hardware wallet would be ideal to provide increased security and control over your tokens. Hiive is a secondary marketplace where accredited investors can free money flow buy shares of private companies before they go public.
The charges were dropped – a massive win for the crypto community, causing XRP to jump over 50% shortly after. Binance is the leading cryptocurrency exchange by daily trading volume with a global appeal. The worldwide version, which happens to support XRP trades, is not available to US-based residents.
