Following the ruling on July 13th by the New York Court, XRP is no longer considered a security. XRP is now the most traded token globally after the court’s decision in the Ripple v. SEC case. Coinbase has also made the decision to relist XRP for trading in light of the increasing popularity of the cryptocurrency and the court system’s approval.
Since the Securities and Exchange Commission (SEC), led by Gary Gensler, decided to strongly arm the Securities tag on the decentralized XRP token, Ripple has been engulfed in controversy for the past three years.
This how to buy XRP guide will assist you in taking the easy route to buying XRP and adding it to your portfolio if you want to jump on the bandwagon.
XRP (XRP), the native token of the Ripple network is available for purchase and trading on Coinbase one of the most trusted cryptocurrency exchanges in the United States. This guide will provide you with a comprehensive overview of XRP, its functionality within the Ripple network, and how to buy and trade XRP on Coinbase.
What is XRP?
XRP is a digital asset designed to facilitate efficient and cost-effective cross-border payments. It operates on the Ripple network, a blockchain-based platform that enables financial institutions to send and receive money globally. XRP serves as a bridge currency, facilitating the exchange of different currencies without the need for pre-funding accounts or intermediaries
Why Buy XRP?
There are several reasons why individuals and businesses might consider buying XRP:
- Fast and affordable transactions: XRP transactions are processed within seconds, making it a suitable option for time-sensitive payments. Additionally, transaction fees on the Ripple network are significantly lower compared to traditional cross-border payment methods.
- Global reach: The Ripple network connects financial institutions worldwide, enabling seamless cross-border payments. This eliminates the need for multiple intermediaries and reduces the associated costs and delays.
- Potential for growth: XRP has a strong track record of innovation and adoption within the financial industry. Its potential for further growth and integration into global payment systems makes it an attractive investment opportunity for many.
How to Buy XRP on Coinbase
Coinbase offers a user-friendly platform for buying and selling XRP. Here’s a step-by-step guide:
- Create a Coinbase account: If you haven’t already, create a Coinbase account by providing your email address and setting a strong password.
- Verify your identity: To comply with regulatory requirements, Coinbase requires you to verify your identity by providing government-issued identification and proof of residence.
- Add a payment method: Link your bank account or debit/credit card to your Coinbase account to facilitate the purchase of XRP.
- Navigate to the “Buy/Sell” page: Once your account is set up, navigate to the “Buy/Sell” page and select “XRP” from the list of available assets.
- Enter the amount of XRP you want to buy: Input the desired amount of XRP you wish to purchase. You can either enter the amount in USD or directly specify the quantity of XRP.
- Review and confirm your purchase: Review the details of your purchase, including the price, fees, and total cost. Once satisfied, confirm your purchase.
Trading XRP on Coinbase
Coinbase also offers a trading platform where you can buy and sell XRP at market price or set limit orders. Here’s how to trade XRP on Coinbase:
- Navigate to the “Trade” page: Access the “Trade” page from the main menu and select “XRP” from the list of available trading pairs.
- Choose your order type: Select the type of order you want to place. You can choose between market orders, limit orders, or stop orders.
- Enter your order details: Specify the quantity of XRP you want to buy or sell and the desired price (for limit orders).
- Review and confirm your order: Review the details of your order and confirm it once you are satisfied.
Additional Resources
- Coinbase XRP Price Page: https://www.coinbase.com/price/xrp
- Coinbase Help Center: https://support.coinbase.com/
- Coinbase Blog: https://blog.coinbase.com/
- Ripple Website: https://ripple.com/
Coinbase provides a secure and user-friendly platform for buying, selling, and trading XRP. Whether you’re looking to invest in XRP for its potential growth or utilize its functionality for cross-border payments, Coinbase offers a convenient and reliable solution. Remember to conduct thorough research and understand the risks involved before making any investment decisions.
Step 2: Add a Payment Method
Before you can purchase XRP, tap the payment method box and connect a bank account or other payment method to your Coinbase account. Debit cards, credit cards, bank accounts, and wire transfers can all be linked.
Step 1: Create a Coinbase Account
You can create a Coinbase account by visiting the Coinbase website or downloading the Coinbase app. You will need to provide your name, email address, and phone number. You will also need to verify your identity by providing a government-issued ID.
Ripple XRP Investors Need To Know What Happened With Coinbase!!!
FAQ
Can I now buy XRP on Coinbase?
Where can I buy XRP in the US?
How much is 1 XRP to 1 USD?
Will Coinbase re-enable trading for XRP (XRP)?
“Coinbase will re-enable trading for XRP (XRP) on the XRP network,” the exchange said in a tweet on Thursday. “Once sufficient supply of this asset is established trading on our XRP-USD, XRP-USDT and XRP-EUR trading pairs will launch in phases,” Coinbase added. Peer Gemini said that the exchange may also list the token following the court ruling.
Will Coinbase relist Ripple Labs’ XRP (XRP-USD)?
Coinbase Global ( NASDAQ: COIN) will relist Ripple Labs’ XRP ( XRP-USD) after a U.S. District Court judge ruled that the digital token is not a security in terms of sales to the general public, the crypto exchange said Thursday. “Coinbase will re-enable trading for XRP (XRP) on the XRP network.
How many people buy XRP on Coinbase?
Currently, 98% of Coinbase users are buying XRP. In other words, 98% of Coinbase customers have increased their net position in XRP over the past 24 hours through trading. Can I buy XRP on Coinbase?
Is Coinbase relisting XRP (XRP-USD)?
Coinbase ( COIN) isn’t the only crypto exchange relisting XRP ( XRP-USD ). Bitstamp, which Ripple owns a minority stake, has resumed trading for the digital asset for its U.S. customers, making XRP-USD, XRP-BTC and XRP-USDT pairs available to trade, according to a blog post. ( Added at 5:06 p.m. ET)