How to buy Ripple (XRP)? This article shows how to buy Ripple (XRP) in the simplest and easiest way for beginners.
Ranked 3rd on Coinmarketcap with a total market capitalization of up to $27.5 billion, Ripple is an attractive name for both new and experienced investors.
In today’s article, I will guide you on how to buy Ripple with VND in the simplest and easiest way I can.
Let’s get started!
What is Ripple (XRP)?
Ripple (XRP) is a digital currency used in Ripple’s payment network.
With a transaction processing time of 3.3 seconds, low transaction fees of around $0.0004, and a scaling speed of 1500 transactions per second, more and more banks are applying Ripple’s technology to their transaction systems.
This aims to improve processing speed for extremely large transaction volumes and save costs.
Where to buy Ripple (XRP) safely and from a reputable source?
Currently, there are marketplaces in Vietnam to buy and sell Ripple using VND. However, in my personal opinion, the price of Ripple on these marketplaces is quite high compared to international exchanges.
Therefore, I will guide you on how to buy XRP on Binance using Bitcoin.
With Binance, you can buy and sell Ripple at a better price, and you can also store XRP directly on the exchange.
How to Buy Ripple with VND
Step 1: Create Accounts
In this step, you need to create two accounts: a Binance account and a Remitano account.
Creating a Remitano Account
Quick guide:
- Go to remitano.com/vn.
- Click “Register” in the top right corner of the screen.
- Enter your registration email.
- Check your email and confirm your registration.
Read more: Remitano Exchange: Guide to register and buy and sell Bitcoin on Remitano
Registering for a Binance Account
Similar to registering for Remitano, I will briefly explain the steps to register on Binance:
- Go to Binance.com.
- Click “Register” in the top right corner.
- Fill in your information and click “Register.”
After registering, you need to obtain a BTC wallet address on Binance to prepare for the next step.
Step 2: Buy Bitcoin on Remitano
Since the process of buying Bitcoin on Remitano is quite lengthy, I will briefly go over the steps to buy Bitcoin:
Log in to your Remitano account.
Deposit funds into your VND Wallet.
Choose a Bitcoin seller and click buy.
Enter the amount of BTC you want to buy and your BTC wallet address on Binance.
Click Buy BTC.
Step 3: Buy Ripple on Binance
Once the Bitcoin has arrived in your Binance account, you can now proceed to buy Ripple.
Below, I will guide you on how to buy Ripple on Binance!
First, log in to Binance and go to the XRP/BTC trading pair.
Next, select the Limit Buy option as shown below:
Next, you need to fill in the following:
The price you want to buy is in the Price box.
The quantity you want to buy is in the Amount box.
Then click Buy XRP to execute the buy order and you’re done.
For example:
I want to buy 50 XRP for 0.00007762 BTC, I need to fill in as shown below.
Then click the Buy XRP button and you’re done.
Important Notes When Transferring Ripple (XRP)
After a successful purchase, go back to the Deposits & Withdrawals section to check the amount of Ripple in your account.
You can store Ripple directly on the Binance exchange without transferring it to an external wallet.
However, if you transfer it to a cold wallet for storage, you must make sure to enter the correct TAG in the receiving wallet address.
If you do not enter the correct TAG, you will lose your XRP, and the exchange will not be responsible.
Conclusion
I hope that after reading this article, you can practice buying and selling Ripple with ease.
I wish you successful trading.
