BanklessTimes.com is dedicated to helping customers learn more about trading, investing and the future of finance. We accept commission from some of the providers on our site, and this may affect where they are positioned on our lists. This affiliate advertising model allows us to continue providing content to our readers for free. Our reviews are not influenced by this and are impartial. You can find out more about our business model here.
How to Buy Ripple in 2024
Ripple (XRP) is a popular payment cryptocurrency that allows cheap and fast transactions across the globe. This guide will cover everything you need to know about Ripple. From exploring the most popular platforms for buying Ripple to investigating the best wallets to store your Ripple holdings, we have covered it all in this guide. You’ll also learn some interesting facts and information to help you decide if XRP is worth your investment or not.
Best Exchanges to Buy Ripple in Australia
Best Platforms to Buy and Trade Ripple in Australia
This part of the guide uncovers the best platforms for trading, buying, and storing Ripple.
Buy Ripple Using Cryptocurrency Brokers in Australia – The Easiest Way
The most straightforward way to acquire Ripple is via a cryptocurrency broker. These are platforms that facilitate trades between users for a fee. They have simple interfaces and often have an educational section for traders to help them level up their game.
Provider | Fee (AUD 1000) | Get Started |
🥇 eToro | $10 | Start with eToro now |
🥈 Binance | $0.2 to $1 | Start with Binance now |
🥉 KuCoin | $0.05 to $1 | Start with KuCoin now |
eToro
eToro is amazing for its simplistic design principles, which make trading easy for beginners. In addition, the platform features a demo account and in-depth courses to help get started.
Binance
Binance provides a premium user experience with an intuitive trading interface, multiple deposit options, and swap pairs for XRP. Also, they have a built-in wallet where you can securely store your assets after you buy cryptocurrency.
KuCoin
KuCoin is one of the cheapest and easiest cryptocurrency exchanges to use because of its many trading tools. Moreover, they focus on providing excellent security, and all users can choose to have a trading interface password with 2-step authentication.
Buy Ripple on eToro: Step-By-Step Guide
Step 1: Open eToro
Go to the official eToro website and press the “Start Investing” button at the centre of the screen. Now type in your username, email, and password, and accept the terms & conditions. Next, access your dashboard and verify your email.
Step 2: Verify Your Identity
Provide eToro with your personal information like your name, surname, and physical address. Then verify your identity by uploading a picture of your passport, driver’s license, or ID card.
Step 3: Deposit
Using one of the deposit methods available, deposit funds into eToro. The platform accepts bank transfers, debit cards, PayPal, and various online banking apps.
Step 4: Buy Ripple
Head to the cryptocurrency section and select Ripple. Click “Trade” and input how much money you want to convert to XRP. Finally, press “Open Trade” to acquire the token.
Step 5: Send Ripple to a Wallet
To send Ripple to your wallet, go to the cryptocurrency tab and choose XRP. Then click “Transfer to Wallet” and the specified amount to send.
Buy Ripple On eToro Now
Best Wallet to Buy and Store Ripple in Australia – XRP Wallet Comparison
It is recommended to store your Ripple in a cryptocurrency wallet, especially a cold wallet, rather than an exchange. This is important to shield your funds from different kinds of online attacks. Exchanges are often targeted by hackers, risking the security of your funds. Below you’ll find the best hardware and software wallets for storing XRP short or long-term in Australia.
Provider | Wallet Type | Get Started |
🥇 Ledger Nano X | Hardware | Start with Ledger now |
🥈 Trezor Model T | Hardware | Start with Trezor now |
🥉 Trust Wallet | Software | Start with Trust Wallet now |
How to Sell Ripple in 2023 Using eToro?
Selling coins like XRP is a smooth process with eToro. Here’s a simple guideline for cashing out your investment:
Step 1: Sign in to eToro and head over to the cryptocurrencies tab. Select XRP to open the trading interface.
Step 2: At the top of the page, select the sell option and input the amount of XRP to exchange. Review the order and press “Open Trade” to finish.
Buy Ripple Using CFDs in Australia- Best for Trading
An alternative way to invest in Ripple is with CFDs (Contract For Differences) issued by brokers. These are derivative products, so you won’t own the underlying asset while still investing in the coin. This also means you cannot withdraw, transfer, or spend your Ripple. However, crypto brokers often have easy investing methods, perfect for beginners. Here you can find the top three options:
Provider | Fee (AUD 1000) | Get Started |
🥇 eToro | $10 buying or selling crypto | Start with eToro now |
🥈 Eightcap | The Market Spread | Start with Eightcap now |
🥉 TickMill | The Market Spread | Start with TickMillnow |
eToro
The ideal choice for beginners to trade XRP is eToro because it features easy to understand graphs and an intuitive interface for investing. The platform is well-known for having a quick-response customer support team and a resourceful FAQ section that is updated from time to time.
Eightcap
Eightcap is an international CFD broker that offers many exciting features like direct trading from TradingView charts, premium liquidity, personal customer support, global market opportunities, and more. The tutorials are accurate, and familiarising yourself with the platform is fast.
TickMill
TickMill is perfect for expert traders due to its multiple trading apps (MT5, MT4, and CQG), tools, and graphs. Also, you can access educational resources like webinars, seminars, ebooks, infographics, and courses to strengthen your trading knowledge.
Best Apps to Buy Ripple in Australia- Most Convenient
Exchange smartphone apps are the most convenient way to invest if you can’t physically access a desktop device. They allow you to trade, stake, withdraw, and deposit coins as long as you have an internet connection. Take a look at the top three options:
Provider | Fee (AUD 1000) | Get Started |
🥇 Crypto.com | $0 to $0.75 | Download now |
🥈 Kraken | $0 to $0.5 | Download now |
🥉 Binance | $0.2 to $1 | Download now |
Buy Ripple on eToro App: Step-By-Step Guide
Step 1: Create an Account
Sign up for a new account with eToro and provide your personal details.
Step 2: Verification
Next, verify your information so you can begin trading XRP.
Step 3: Deposit Money
Then deposit money into your account using one of the multiple payment methods.
Step 4: Buy XRP
Open the cryptocurrency section and find XRP. Click on the crypto, and a buy page will prompt up. Now input the amount you want to purchase and click “Open Trade” to finish.
Apart from the information mentioned above, we created a complete step-by-step guide on the best Bitcoin apps where you can easily learn how to use these crypto apps to buy Bitcoin and other cryptocurrencies.
Buy Ripple With Exchanges in Australia- The Cheapest Way
You can experience affordable trading with cryptocurrency exchanges because these platforms follow a low fee structure. Also, having a high 30-day trading volume will place you in a different fee bracket with better terms regarding the trading fee. These options were selected for providing a premium service along with low platform costs.
Provider | Fee (AUD 1000) | Get Started |
🥇 Binance | $0.2 to $1 | Start with Binance now |
🥈 KuCoin | $0.05 to $1 | Start with KuCoin now |
🥉 Kraken | $0 to $0.5 | Start with Kraken now |
Buy Ripple on Binance: Step-by-Step Guide
Step 1: Open Binance and Register
Go to the Binance homepage and press the register button at the top. Then provide your email and a password. Next, verify your email address and provide Binance with information about yourself. Then verify your identity by uploading a picture of your government-issued document.
Step 2: Deposit
Now, deposit funds into Binance using your preferred payment method.
Step 3: Open the Trading Interface
Next, open the trading interface and search for XRP. Then click the relevant trading pair to the currency you’ve deposited.
Step 4: Complete the Trade
Finally, fill out the box at the of the screen. Choose the order type and the amount of money you want to exchange, then click the “Buy” button to complete the transaction.
Step 5: Confirm the Transaction Using the Blockchain Explorer
Blockchain technology is exceptionally transparent, and you can view all historical transactions executed on the network. Simply navigate to the blockchain explorer to view the record of the transactions. For example, you can use BTCScan to track Bitcoin transactions, Etherscan to track Ethereum transactions, and XRPSCAN to track XRP transactions.
Buy Ripple On Binance
Buy Ripple Using Decentralized Exchanges (DEX) in Australia- The New Way
DEXs (Decentralized exchanges) are dApps built on top of a blockchain network and facilitate trade orders using a liquidity pool system. You can start using a DEX by connecting your decentralised wallet like MetaMask to the Dapp. Also, DEXs are unregulated and allow you to purchase coins anonymously.
Provider | Fee (AUD 1000) | Get Started |
🥇 Sologenic | Varies | Get started now |
🥈 onXRP | Varies | Get started now |
Can You Buy Ripple Using P2P Services in Australia?
There are no worthwhile platforms to use that offer P2P services for buying Ripple. Instead, you can search for local crypto forum groups and facilitate trades in person. However, when trading in person, wait until the transfer is complete to avoid getting scammed.
Can You Buy Ripple Using Other Trading Platforms in Australia?
Due to Ripple’s SEC lawsuit controversy, a few crypto platforms have de-listed the token. Here you can examine which exchanges or brokers still offer buying opportunities in XRP.
Cryptocurrency Platform | Can You Buy XRP? | Fee (AUD 1000) | Review |
Binance | Yes | $0.2 to $1 | Binance review |
Bitstamp | Yes | $0 to $4. | Bitstamp review |
Bittrex | Yes | $0 to $3.5 | Bittrex review |
Coinbase | Yes | $0 to $6 | Coinbase review |
Poloniex | Yes | $0 to $1.55 | Poloniex review |
BitMart | No | $0.6 to $2.5 | N/A |
Bitrue | Yes | $0.98 to $2.0 | Bitrue review |
BlockFi | No | NIL | N/A |
Crypto.com | Yes | $0 to $0.75 | N/A |
Fidelity | No | $0 commissions | N/A |
Gate.io | No | $0.55 to $2 | N/A |
Hotbit | Yes | Upto $2 | N/A |
Kraken | Yes | $0 to $0.5 | Kraken review |
KuCoin | Yes | $0.05 to $1 | KuCoin review |
Swyftx | Yes | $6 | N/A |
Digital Surge | Yes | $1 to $5 | N/A |
CoinSpot | Yes | $1 to $10 | N/A |
Coinstash | Yes | $8.5 | N/A |
What Is the Difference Between Buying Ripple and CFDs?
Cryptocurrency brokers issue CFDs (Contract For Differences), which are derivative products. This means you will not own the underlying asset while speculating its future value. Also, with Ripple CFDs, you cannot transfer them from the broker and spend them. Below you can learn about some advantages and negatives of investing in CFDs.
- Contract For Differences are issued by regulated brokers.
- Most brokers have no commission and deposit fees.
- CFDs have easy buying processes for beginners.
- Great for those who are less tech-savvy as you don’t need to set up a crypto wallet for storing XRP.
- Cannot utilise the coin as you are buying a derivative product.
- CFD brokers (apart from eToro) do not let you withdraw to a private crypto wallet.
- No option to receive airdrops.
- Cannot lend XRP to earn passive income.
Best Ways to Buy Ripple in Australia
Here are the top crypto platforms for buying Ripple using different payment methods and what they’re best for.
Buy Ripple Instantly With Online Banking in Australia- The Fastest Way
Binance is one of the best platforms that accept online banking as a deposit method with a fast transfer. Also, the exchange will remember your information, making future deposits convenient.
Buy Ripple With PayPal in Australia- The Safest Way
You can buy Ripple with PayPal by using it as a deposit method on eToro. Afterwards, use the trading interface to purchase XRP. Please note that you cannot buy Ripple directly from PayPal.
Buy Ripple Using a Debit Card in Australia – The Cheapest Way
Use your debit card to deposit funds on Binance and navigate to the spot trading tab to purchase Ripple.
Buy Ripple Using a Credit Card in Australia
Investors can top up their accounts on Binance via credit card. This platform is brilliant for its educational resources, multiple Ripple trading pairs, and low fees.
Best Platforms to Buy Ripple in Other Countries
The best providers vary between nations due to licenses, laws, and crypto regulations. Below you can analyse the top cryptocurrency platforms in each country for buying Ripple.
Country to Buy XRP in | Best Provider | Provider Type | Fee |
UK | Coinbase | Exchange | $0 to $6 |
Bangladesh | eToro | Broker | $10 |
Canada | Binance | Exchange | $0.2 to $1 |
Hawaii | CEX.io | Exchange | $0 to $2.5 |
India | WazirX | Exchange | $2 |
Japan | BitFlyer | Exchange | $0.1 to $1.5 |
Nepal | Kraken | Exchange | $0 to $0.5 |
New Zealand | Binance | Exchange | $0.2 to $1 |
Pakistan | Coinbase | Exchange | $0 to $6 |
Philippines | Binance | Exchange | $0.2 to $1 |
Singapore | Crypto.com | Exchange | $0 to $0.75 |
South Africa | eToro | Exchange | $10 |
UAE | Binance | Exchange | $0.2 to $1 |
What Are the Fees When Buying Ripple in Australia?
This table discloses the fees you’ll pay for buying 1000 AUD worth of Ripple and holding 30-days.
Platform | eToro Broker | Kraken Exchange | Binance Exchange |
Deposit Fees | $0 | $0 | $0 |
Purchase Fees | $10 | $0 to $0.5 | $0.2 to $1 |
Holding Fees | $0 | $0 | $0 |
Selling Fees | $10 | $0 to $0.5 | $0.2 to $1 |
Payout Fees | $5 | 0.02 XRP | 0.2 XRP |
Total Fees | $25 | $4.20 | $0.6 to $2 |
Cheapest Way to Buy XRP in Australia
Binance, KuCoin, and Kraken Pro have adopted a tier system for calculating fees. Based on your trading volume amount, you can potentially enter a different bracket with better fee rates. The listed options have great liquidity for XRP and the cheapest trading fee structure.
Provider | Fee (AUD 1000) | Get Started |
🥇 Binance | $0.2 to $1 | Download now |
🥈 KuCoin | $0.05 to $1 | Download now |
🥉 Kraken | $0 to $0.5 | Download now |
Fastest Way to Buy XRP in Australia
These crypto platforms were selected for their quick sign-up processes and instant deposit methods. Also, they all offer excellent trading tools and order types for buying XRP.
Provider | Fee (AUD 1000) | Get Started |
🥇 eToro | $10 | Get started now |
🥈 Crypto.com | $0 to $0.75 | Get started now |
🥉 Kraken | $0 to $0.5 | Get started now |
How to Buy Ripple Anonymously in Australia?
The following section covers how to buy Ripple without revealing your identity.
How to Buy Ripple Without Registration or KYC in Australia?
You can avoid the registration and KYC process if you use a decentralised exchange. These applications require connecting a crypto wallet, allowing you to remain anonymous.
How to Buy Ripple Without Verification in Australia?
Most cryptocurrency exchanges (centralised) require the users to complete the KYC verification to start trading cryptocurrencies like Ripple, depositing fiat currency, and executing withdrawals. However, some exchanges like Kucoin allow P2P crypto trading without KYC verification. Alternatively, you can use a Ripple DEX.
Can You Buy Ripple Offline in Australia?
Ripple cannot be bought offline as you need an internet connection to use brokers, exchanges, and P2P platforms.
Should You Buy or Sell Ripple?
Ripple might be a risky investment as it’s in the final stages of a lawsuit with the SEC. Nevertheless, the coin is being utilised by hundreds of financial institutions, including UBS, Bank of America, and Santander Group, giving it value and utility. Here are some pros and cons if you want to learn more about the coin:
Why should you buy Ripple? | Why should you sell Ripple? |
Transactions are fast and cheap. | Ripple has gained negative attention due to the SEC lawsuit. |
Ripple’s payment network is already being utilised by financial institutions. | Centralised. |
Ripple can be used by individuals and business owners for secure transfers. | XRP’s value is volatile and heavily depends on how the overall market is doing. |
Ripple has been one of the top-performing cryptocurrencies. | Disliked by the community for being centralised. |
Supported on most crypto wallet apps. | Ripple’s huge market cap means there is little chance for significant profits. |
Do You Need to Pay Tax on Ripple in Australia?
Australian Taxation Office (ATO) requires individuals to pay tax on net capital gains from selling, trading, spending or gifting cryptocurrencies like Bitcoin and Ripple. It is to be noted that the amount of tax is calculated based on your tax bracket and how long you hold. For more information, you should check the official website of ATO.
Ripple Price Prediction: What Is the Future of XRP?
No matter what experts say, predicting Ripple’s future value is near impossible due to the ongoing legal battle with the SEC. This part of the guide will analyse what can impact XRP’s value.
What Impacts Ripple Price?
The five main factors impacting Ripple’s value are
Adoption: Ripple is doing a great job of getting more banks on board with their payment system. Currently, they have over 100 financial institutions and are increasing that number every quarter.
Market status: Ripple’s value closely follows how the overall market performs. For example, during bull runs, when all altcoins are rising, Ripple will spike in value. However, during bear markets, XRP will bottom out.
News: Bad news like SEC suing Ripple negatively affected its price as investors pulled out funds. Similar news can have the same impact.
Laws: Countries implying stricter laws can make cryptocurrencies less accessible, resulting in fewer people investing. Also, unfriendly-crypto laws can make it harder for Ripple to become more adopted by institutions.
Demand: As demand increases and fewer people sell, Ripple’s value grows. This is because investors are willing to pay more for each coin.
Historical Ripple Course: Major Milestones in the History of Ripple
Below, you can learn about a few major milestones Ripple went through since it was launched.
Current Price Prediction News
If you find price prediction content interesting, here are some news sources you may enjoy reading:
[related content – price prediction news]
Other Ways to Make Money With Ripple in 2023
Now, you’ll learn about alternative ways you can make money with XRP.
Stake Ripple Using DeFi or CeFi
Ripple cannot be staked because it uses a consensus protocol other than the POS (Proof-Of-Stake) system. Nevertheless, Binance has a flexible saving product for Ripple with approximately 0.45% APR. Therefore, you can still earn passive income, regardless if the coin does not support staking.
Buy Ripple Using ETPs (ETFs & ETNs) in Australia
You can purchase Ripple ETPs from CoinShares. These are Exchange-traded products sold on the stock exchange.
Buy and Sell NFTs Using XRP in Australia
NFTs (non-fungible tokens) are unique digital data stored in the blockchain that allows people to represent ownership over assets like tickets and art. Ripple has committed $250 million to the Creator’s Fund to bring artists’ NFTs to the XRP Ledger. However, currently, there is no marketplace for trading NFTs with XRP.
Buy Stocks and Shares in Companies Owning Ripple
Bank of America is one of the largest entities with investments in Ripple. Their stock is available to buy on eToro.
Ripple Mining
Ripple cannot be mined because it doesn’t use a POW (Proof-Of-Work) system.
Use Ripple Faucets
Some cryptocurrency exchanges offer faucets to clients, which are rewards for participating in courses and quizzes. Coinbase is the ideal option for this activity since they offer many promotions. Also, you can track specific courses, and Coinbase will email you when it’s available to complete for rewards.
What Cryptocurrencies Are Similar to Ripple?
Underneath, you’ll find similar payment cryptocurrencies that you may want to research.
Coin | Symbol | Learn How to Buy |
Stellar | XLM | Buy Stellar |
Tether | USDT | Buy Tether |
Bitcoin Cash | BCH | Buy Bitcoin Cash |
Ethereum | ETH | Buy Ethereum |
Monero | XMR | Buy Monero |
If you would like to know more about some of the cryptocurrencies we mentioned above, you can check out the following guide on how to buy Ethereum in Australia
Is It Still Worth Investing in Ripple or Not?
Ripple is not worth investing in right now, mainly because of the SEC lawsuit. This event has caused XRP to experience multiple price drops and negative news coverage. Moreover, Ripple is a centralised cryptocurrency, defeating the purpose of creating a decentralised economy. Note: Not a Financial Advice (NFA).
FAQs
What Is the Best Provider to Buy Ripple Australia
The most user-friendly platform in Australia for buying Ripple is Kraken. It has an interactive smartphone app so you can trade on the go, 2-step authentication, promotions, and more.
What Is the Cheapest Provider to Buy Ripple in Australia?
Binance is the cheapest provider in Australia, with trading fee rates in between 0% to 0.1%. In addition, you can receive a 25% discount on fees if you will use the native BNB token.
Is It Worth Investing in Ripple Right Now?
Ripple is not worth investing in right now because of the SEC lawsuit. XRP’s price is currently too volatile to be considered a good asset. NFA.
Is There a Limit to How Many XRP I Can Buy in Australia?
Established cryptocurrency exchanges have high liquidity, so limits should not be an issue.
Can You Buy Ripple on the Blockchain?
To buy Ripple, you must use a cryptocurrency platform like an exchange, broker, or P2P website. There is no option to purchase XRP directly from the blockchain.
What Can You Buy With Ripple in Australia?
Since Ripple is a payment currency that offers cheap and fast transactions, it is accepted across 1,500 + online stores. You can also buy computer parts from Newegg using Ripple.
Contributors
