The Passive Dollar

Feed Your Wallet

How to Buy Ripple (XRP)

The cryptocurrency market is highly volatile and you should never invest more than you can afford to lose. 

Ripple (XRP) has seen an explosive amount of growth recently. The coin was valued at 25 cents each in early December and now the value roughly $1.51 according to coinmarketcap. It’s not too late to get in the game and for those of you who are wanting to jump in and ride the profits. This quick and easy guide is going to show you how to buy Ripple.

I’m going to assume you already have Bitcoin in Coinbase or another wallet. If you don’t, you will need to buy Bitcoin first. It’s cheaper and easier to buy Bitcoin and transfer it to Ripple than to buy Ripple with cash. Click HERE to learn how to buy Bitcoin.

If you already own Bitcoin, continue reading

This guide is going to be written on how to buy Ripple when you have Bitcoin in Coinbase. Most people have their Bitcoin in Coinbase and the platform is easier to navigate so that’s why I’m writing this guide for Coinbase users.

Coinbase is a wallet, not an exchange that’s why you can’t purchase Ripple from Coinbase so you will need to transfer your funds to GDAX

GDAX is an exchange for trading cryptocurrencies. GDAX is owned by Coinbase. So if you have a Coinbase account (you should if you’re using my guide) simply use your Coinbase credentials to log in to GDAX. No need to create a new account.

First, sign in to GDAX.

Once you log in to GDAX you see this:

Transfer Bitcoin

You’ll then click “Withdraw” 

After that, an option to choose where you withdraw your Bitcoin will pop up. Click “Coinbase Account”. Choose the amount you want to transfer from Coinbase to GDAX. The process may take a few minutes.

Once your funds clear and they are in your GDAX account, you can now trade your Bitcoin for other cryptocurrencies. Unfortunately, GDAX doesn’t allow the trading of Ripple, so we will need to transfer funds to Binance.

You can trade your funds directly from Coinbase to Binance but the transfer fees are very high. This is the only reason I suggest using GDAX first.

Go to Binance.com.

Click on “Funds” in the top right.

Click “Deposits” in the drop-down menu.

Depositing to Binance

 

Copy the BTC Deposit address. I posted mine here because it’s public, but never post your PRIVATE KEY.

Log back into GDAX.

Click on Withdraw on the left. The screen below will appear.

Then click “BTC Address” under Withdraw funds.

Enter the address from the Binance page you just copied under “Destination” and then enter the amount you want to transfer.

Click “Withdraw Funds“.

Transfer from GDAX

Now that you have Bitcoin in your Binance account, you can buy Ripple.

Click “Exchange” in the top left of the menu in Binance. Search for Ripple (XRP) and buy however much you want with the Bitcoin in your account by placing an order!

That’s it. Good luck and have fun!

How do you plan on investing in cryptocurrency? Comment below.

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