The cryptocurrency of Ripple Labs., XRP, can be purchased on many crypto exchanges. Today we will show you step by step how to trade XRP on Binance, currently the largest crypto exchange.
First, open an account on the platform. To do this, click on Register on the main page. Now, enter your e-mail address and set the password. After that you will receive a confirmation email on the email account. After confirmation, it will ask you to take care of the security settings of your account before you buy ripple.
We strongly recommend setting up a two-factor authentication. Best suited for this is the Google Authenticator. This is an app that you can download in Playstore and Appstore.
Now, click on the box framed in red on the page with the settings. On the next page the code for the authenticator will be provided.
Now, either use the app to scan the QR code or enter the code to the right of it manually. The code should be stored and backed up so that it can be restored in case your phone is lost
The Google Authenticator app now generates a new six-digit number code every 30 seconds, which is queried for certain actions. The Authenticator app can store multiple accounts, so you can also use other exchanges in parallel.
Different identification levels
Binance authorized to withdraw cryptos worth 2 Bitcoin every 24 hours only with the submitted email. If you want to increase the limit, you have to verify with photo ID.
Buy ripple with credit card
Binance currently only supports cash deposits via credit card, the limit is $ 20,000. Otherwise, you can send all supported crypto currencies to action on the platform.
To buy Ripple by credit card, click on “middle” in the top center and select “deposits”.
Right next to the Visa Mastercard field click on “Buy Now”, you will get to the following page:
Here is how many XRP you want to buy or for what amount (Euro or USD can be selected). Then one arrives at a typical input field for credit card data. After the purchase is completed, you can see XRP under “Medium” -> “Balance”. You can transfer them to your wallet or exchange them with other cryptocurrencies.
If you want to send XRP to Binance, you can set the “Medium” -> “Deposits” XRP ripple and then get the deposit data (XRP address of Binance) displayed below.
If you want to exchange XRP in other cryptocurrencies, go to “Exchange” -> “Basic” in the trading portal.
In the red box on the top right you can set against what you want to swap XRP (in the picture Bitcoin against XRP). In the field below you can see the last trades. In the middle above is the chart image. This can be resolved as desired (15 minutes in the example). On the left is the order book with the purchase offers (green below) and the sales offers (red above).
Outlined in green you can configure buy or sell bid. And the price for which you would like to buy or sell. The functions are available on all crypto exchanges.
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.