Ripples XRP is the largest cryptocurrency by market cap. You can buy XRP on many cryptocurrency exchanges. One of them is Kraken. In this article we show a step by step instructions of how to buy XRP on Kraken.
Open an account
The first step is to open an account. For this. visit the website kraken.com and click on “Create Account” in the upper right corner. In the following form fill your information. Important: If you want to trade with FIAT currencies, such as USD or Euro, you will need to verify yourself with photo ID and residence confirmation.
To do this, just click on the red framed box “Get verified” and follow the instructions. An “intermediate” verification makes it possible to deposit and withdraw even higher amount.
Now, transfer money to octopus. Kraken supports bank transfers. We click on “Funding” and then on Euro or USD on “Deposit”.
On the following page, select in the menu Fidor Bank (SEPA).
Now the bank details appear. Now, transfer the money. Transfers are valid only from the Kraken Account holder. It may take a few days for the money to be on the Kraken account.
On the main page, enter the trading pair XRP / USD or XRP/EUR on the top right.
Then click on “Trade” in the upper right corner. One line below shows “New Order” as a choice. Now click on it and it will open the following window.
Here we set how many XRPs we want to buy for which price. If our asking price is below the current market price, we have to hope that the market will come in our direction to serve the order.
Professional Hadels environment
If you already have some experience trading assets, you can use Kraken’s advanced trading tool. Click on “Overview” at the top and then on the field framed in red in the upper picture on the right.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.