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A step by step guide on how to buy & store the Ripple (XRP) cryptocurrency

What is Ripple?

Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.

What are XRP coins?

XRP coins power the Ripple network.

Important note

This guide is not, and should not be regarded as 'investment advice' or as a 'recommendation' regarding a course of action.

How to buy Ripple
Important: The links in this guide are correct as to the best of our knowledge. It is your own responsibility to double check that clicked links look correct in your browser bar, and that any wallet you install on your computer is from a legitimate source.

Note: Images can be clicked to see a larger version. If you're confused by any terms used, a glossary can be found here.

There are two ways to buy Ripple.

1) Buy Ripple directly using a credit/debit card. This is easy and quick, but you can get less coins for your money.

2) Buy the cryptocurrency Ethereum and exchange it for Ripple. This is more time consuming and complicated, but you can get more coins for your money.

Choose which method you'd like to use and the guide will continue:

#
Use an exchange
#
Buy direct with a credit/debit card
1

First we need to install a wallet on your computer to store your Ripple coins.

We recommend the Toast wallet downloaded here. Pick the appropriate file for your computer and click the link to download (For an easy install experience, Windows users can pick the 'Portable Executable' listed under Windows).

Once the file has downloaded, open it.

Setting up Ripple wallet
2

Read the warnings the wallet gives you. Make sure you understand them.

When you're ready to continue, press 'Create a new wallet'.

Setting up Ripple wallet
3

Enter a six digit security code to secure your new wallet. And then do it again, to confirm you've entered it correctly.

Note: Make sure you remember this code- if you lose it you could lose access to your coins.

Setting up Ripple wallet
4

Now enter a complicated passphrase. This will be used to encrypt your wallet.

Note: Make sure you remember this passphrase- if you lose it you could lose access to your coins. Think about backing it up somewhere safe and secure incase you do forget it.

Setting up Ripple wallet

Important Note: We all hear of computers and phones being hacked. Websites running illicit code to steal passwords. Phishers tricking people into clicking links that steal information from their computers.

Another line of defence to keep our coins from being siphoned out of our wallets is essential.

And that's a hardware wallet.

Hardware wallets plug into your computer like a USB stick, and they have one job- to be a firewall between your Ripple and the outside world.

To do this, they encrypt the private keys to your cryptocurrency wallets so that no-one- not even you- can know them. That way only someone with physical access to your hardware wallet- and who also knows its password- has a chance to access and move your coins.

Which hardware wallets support Ripple?

Hardware wallets made by Ledger support the storage and sending of Ripple.

Where do I get a hardware wallet?

Our recommendation is to get a Ledger Nano S from their official website or Amazon.

Their Nano S makes it easy to manage your coins- it's compact and discreet, and wallet management is achieved through a small LCD screen and two buttons.

Ledger Nano S

Once you have your Ledger, here's a step by step guide to setting it up.

5

The wallet will now give you a warning. Read it. Understand it.

Copy the six word recovery phrase down and store is somewhere safe and secure.

Note: If you lose this phrase you can lose access to your coins.

Click the two slide boxes when you understand the warning they represent then press 'Finish setup'.

If you want to donate to the Toast project you can at this stage. Or press 'Not at this time' if you don't want to.

Setting up Ripple wallet
6

Press 'Add account'.

Press 'Generate address'.

Enter your passphrase and click 'Import this address'.

Setting up Ripple wallet
7

You will be informed it's time to create a backup of your wallet. Press 'Create a backup now'.

You will be shown a big chunk of code. This if an encrypted copy of your wallet. Press the 'Copy' button.

Paste this backup code somewhere safe, such as in a text file that's backed up on a USB stick that's kept somewhere safe and private.

Note: If your computer is lost/stolen/corrupted you can use this backup to restore your wallet.

Setting up Ripple wallet
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Once you're done backing up, press the 'Home' button (marked with a house icon) along the bottom menu.

Press the wallet address you just set up- it will say '(not activated)' but don't worry about that yet.

Press the clipboard button beside your wallet address. This will copy it to your computer's memory.

Paste this wallet address into an email or text file so you have it easy to hand as you'll need it soon.

Setting up Ripple wallet
9

Click here to go to Cex.io

Click the 'Register' button along the top menu.

Cex.io
10

Enter your email address and a secure password. Click the check box to agree to the terms.

Click 'Register'.

Signing up to Cex.io
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You will now be asked to set up 2-factor authentication for your new account. It is strongly advised not to skip this step, as 2-factor authentication makes your account far more secure.

We recommend using the 'Smartphone App' option.

Signing up to Cex.io
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Once your security has been set up, you'll be taken to your account dashboard.

Before we do anything else, head on over to your personal email account- there will be an email from Cex.io asking you to click a link to verify your account. Click it.

You will be taken to a page telling you your email has been confirmed. Click 'Go back to the site'.

Signing up to Cex.io
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Look for your user ID in the top menu, hover your mouse over it and in the drop down menu click 'Verification'.

Signing up to Cex.io
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Every exchange that lets your buy cryptocurrencies for cash require you to verify your identification before doing so.

Complete the Cex.io verification process by supplying your personal information and uploading your ID.

Signing up to Cex.io
15

Once you're verified, click the 'Deposit' button along the top menu.

You now get to choose how you'd like to deposit money:

Via credit/debit card

If you choose credit/debit card you can buy instantly, but you pay commission on the money you deposit.

Via bank transfer

This option takes a few days for the transfer to arrive but has no commission fees.

Choose the method you prefer and follow the instructions to deposit your money.

Signing up to Cex.io
16

Once your money is in your account, click 'BUY/SELL' on the top menu.

Choose 'XRP' and the currency you'd like to buy it in (Dollars, Euros, Pounds or Rubles).

You will be offered some precalculated amounts of Ripple, or you can scroll to the bottom of the page and input the amount of Ripple you'd like to buy in the 'Custom amount' box.

Once you've decided, click 'Buy'.

Signing up to Cex.io
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You'll be asked to confirm your buy.

Check everything looks correct and click 'Confirm the order'.

Signing up to Cex.io
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Congratulations- you now own some Ripple!

Press 'Ok'.

Signing up to Cex.io
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Press 'Withdraw' on the top menu.

Under 'Select currency and amount' click 'USD' and select '' in the drop down menu.

Input the amount of Ripple you're withdrawing to your personal wallet.

In the box labelled 'Enter the recipient's address below' paste the Ripple wallet address we saved earlier from Ripple wallet in step 8.

Once you've looked everything over, click the check box to confirm you've double checked everything is correct.

Press 'Withdraw'.

Signing up to Cex.io
20

You will be asked for a 2-factor authentication number.

Use your selected method of authentication to generate the number and write it in the box. Press 'Confirm'.

Signing up to Cex.io
21

You will be sent an email to confirm the withdrawal.

Go to your personal email and click the link Cex.io has sent you. This will send the coins on their way.

Signing up to Cex.io
9

Now we'll purchase the popular cryptocurrency Ethereum, so that we can exchange it for Ripple (if you already own Ethereum you can skip ahead).

Choose which Ethereum exchange you'd like to use (by clicking on the logo), and the guide will continue:

Choose your exchange
#
Coinbase
  • Operates in 32 countries.
  • Accepts debit & credit cards and bank transfers.
  • Can have low buy limits at first, increases with use.
  • ID verification required.
#
Cex.io
  • Worldwide coverage, 99% of countries.
  • Accepts debit/credit cards and bank transfers.
  • High initial buy limits compared to other exchanges.
  • ID verification required.
There are also some other exchanges (but without step by step guides) listed here.
10

If you use this link to sign up to Coinbase we'll both receive ten dollars of free coins when you spend over $100 (or the equivalent in your currency).

Coinbase
11

Press the 'sign up' button and fill out your name (make sure this is exactly how it's written on your photo ID), email, password and location.

Just like a US bank, Coinbase is regulated by the US government, and has to follow strict financial rules. So they take verifying your identity very seriously. It's a pain, but it does give Coinbase a reputation for being the most trusted way to convert fiat currency to cryptocurrency.

To verify your account you must supply a phone number, upload an image of your photo ID and verify a credit/debit card or bank account before you can buy.

Note: If you have problems verifiying your ID using your computer, try downloading the Coinbase app (on Iphone or Android), signing into your Coinbase account and verifying your ID using your phone camera.

Signing up to Coinbase
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Using a credit/debit card on Coinbase means higher fees but offers instant purchasing. Using a bank transfer is cheaper but slower (taking up to a week to get your coins).

Once your payment details are verified, click 'buy/sell' on the top menu.

Select 'Ethereum', and at the bottom of the page choose how much to spend in your local currency / how many coins you want to buy.

Once you're happy with the amount, click the big 'Buy' button.

Buying Ethereum on Coinbase
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You'll be asked to confirm your purchase.

Press the 'Confirm Buy' button.

Congratulations! You now own some Ethereum. But don't close Coinbase yet, we're going to need it again in a few minutes.

Confirm buying Ethereum on Coinbase
10

Click here to go to Cex.io

Click the 'Register' button along the top menu.

Cex.io
11

Enter your email address and a secure password. Click the checkbox to agree to the terms.

Click 'Register'.

Signing up to Cex.io
12

You will now be asked to set up 2-factor authentication for your new account. It is strongly advised not to skip this step, as 2-factor authentication makes your account far more secure.

We recommend using the 'Smartphone App' option.

Signing up to Cex.io
13

Once your security has been set up, you'll be taken to your account dashboard.

Before we do anything else, head on over to your personal email account- there will be an email from Cex.io asking you to click a link to verify your account. Click it.

You will be taken to a page telling you your email has been confirmed. Click 'Go back to the site'.

Signing up to Cex.io
14

Look for your user ID in the top menu, hover your mouse over it and in the drop down menu click 'Verification'.

Signing up to Cex.io
15

Every exchange that lets your buy cryptocurrencies for cash require you to verify your identification before doing so.

Complete the Cex.io verification process by supplying your personal information and uploading your ID.

Signing up to Cex.io
16

Once you're verified, click the 'Deposit' button along the top menu.

You now get to choose how you'd like to deposit money:

Via credit/debit card

If you choose credit/debit card you can buy instantly, but you pay commission on the money you deposit.

Via bank transfer

This option takes a few days for the transfer to arrive but has no commission fees.

Choose the method you prefer and follow the instructions to deposit your money.

Signing up to Cex.io
17

Once your money is in your account, click 'BUY/SELL' on the top menu.

Choose 'ETH' and the currency you'd like to buy it in (Dollars, Euros, Pounds or Rubles).

You will be offered some precalculated amounts of Ethereum, or you can scroll to the bottom of the page and input the amount of Ethereum you'd like to buy in the 'Custom amount' box.

Once you've decided, click 'Buy'.

Signing up to Cex.io
18

You'll be asked to confirm your buy.

Check everything looks correct and click 'Confirm the order'.

Signing up to Cex.io
19

Congratulations- you now own some Ripple!

Press 'Ok'.

Signing up to Cex.io
14
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1

We'll use the site Binance to exchange your Ethereum for Ripple.

Click here to go to Binance, and click 'Register' on the top right menu.

Binance exchange
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2

Enter your email and a strong password (that you won't forget!).

Click 'Register'.

Setting up a Binance account
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3

You will be sent an email to confirm your email address.

Click the link in the email.

Setting up a Binance account
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4

You will be taken back to Binance as your email is confirmed.

Press 'Login'.

On the login form, enter the email and password you just used to sign up, then press 'Login'.

Setting up a Binance account
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5

A pop-up will advise you to set up 2FA (two factor authentication) on your account.

We strongly advise you to do this- in the event a hacker manages to get hold of your password, this second level of security makes it very unlikely they will be able to get into your Binance account.

We recommend using the Authy app on your mobile phone or web browser.

Setting up a Binance account
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6

Hover your mouse over 'FUNDS' on the top menu and click on 'Deposits Withdrawals'.

This screen displays any coins you have stored on Binance- obviously none at the moment.

Type 'Ethereum' in the search box.

This will narrow the wallets displayed to just a few- in those, find Ethereum.

Press 'Deposit'

You will be given a Ethereum deposit address (a long string of numbers and letters).

Copy this address and keep it somewhere safe as we're going to need it soon.

Note: Double check you've actually selected Ethereum (ETH)- if you send your coins to the wrong wallet you will lose them.

Setting up a Binance account
20

Now, return to Coinbase.

Click 'Accounts' from the top menu, then find your Ethereum wallet listed on the left.

Click 'Send'.

Sending Ethereum on Coinbase
21

In the 'Recipient' box, paste the Ethereum wallet address we just copied from Binance.

In amount, type how much Ethereum you wish to send (there is a 'use max' option if you wish to send it all).

Click 'Continue'.

Coinbase may ask you to confirm with your password/phone. Follow the instructions until it confirms the Ethereum are sent.

Sending Ethereum on Coinbase
26

Go back to Cex.io

Press 'Withdraw' on the top menu.

Under 'Select currency and amount' click 'USD' and select 'ETH' in the drop down menu.

Input the amount of Ethereum you're sending.

In the box labelled 'Enter the recipient's address below' paste the Ethereum wallet address we just copied from Binance.

Once you've looked everything over, click the check box to confirm you've double checked everything is correct.

Press 'Withdraw'.

Signing up to Cex.io
27

You will be asked for a 2-factor authentication number.

Use your selected method of authentication to generate the number and write it in the box. Press 'Confirm'.

Signing up to Cex.io
28

You will be sent an email to confirm the withdrawal.

Go to your personal email and click the link Cex.io has sent you. This will send the coins on their way.

Signing up to Cex.io
7

Go back to LocalBitcoins.

You should still be in your wallet page.

In the box labelled 'Receiving Bitcoin address' paste the Ethereum wallet address we just copied from Binance.

Enter the amount of Bitcoin you're sending.

Press 'Continue'.

Signing up to LocalBitcoins
8

You will be asked to enter your password to confirm the send.

Once entered, press 'Send from wallet'.

Signing up to LocalBitcoins
9

You will be taken back to your wallet and a message will appear to confirm the Bitcoin has been sent.

Signing up to LocalBitcoins
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10

Now we've got to wait a few minutes for the coins to move across the network.

Unless there's an unusually large network backlog, the coins will take between 20 and 60 minutes to appear in your Binance wallet.

Binance will update automatically so there's no need to refresh the page.

While you're waiting, consider sharing this guide with your friends and followers to spread the word about Ripple, encouraging its popularity and value to grow.

Here's some share buttons to make it easy:

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11

Once the Ethereum shows in your 'available balance' we're ready to trade for Ripple.

Click here to jump straight to the XRP/ETH exchange market on Binance.

Setting up a Binance account
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12

The exchange page can look overwhelming at first, but don't worry, we're only going to use a small part of it.

There are two ways of buying coins:

A 'Limit' order, which lets you manually set the price at which you want to buy XRP.

A 'Market' buy, which fills your order automatically at the best price available.

As market buy is the simpler of the two options we'll go with that.

Look for the big green 'Buy XRP' button.

Above it, click the 'Market' option.

In the input box marked 'Amount' you now need to fill in how many XRP you'd like to buy. It may be easier to use the percentage buttons below the input box- for example, press 50% if you'd like to exchange 50% of your Ethereum for XRP.

When you're happy with the amount, press the buy button.

Your order will be filled immediately.

Setting up a Binance account
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13

Press 'Funds' along the top menu, then 'Deposits Withdrawals'.

In the search box, type XRP. You will now see your new XRP in your XRP wallet.

Setting up a Binance account
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If you're comfortable with it, you could just leave your coins on Binance and they would probably be safe. However, exchanges have been hacked in the past, and people have lost coins, so we do recommend you keep them in a personal wallet. Here's how:

Click the 'Withdrawal' button.

In the boxes that appear, fill in this information:

Label: Write 'My wallet'

Address: Put the wallet address that you copied from Ripple wallet (in step 8).

XRP Withdrawals Tag: Click the checkbox labelled 'No Tag'.

Amount: Press the 'Max' button to send all your XRP.

Once you're sure all this information is correct (double check you've inputted the correct wallet address!), press 'Submit'.

If you've set up two-factor authentication, you will be asked for a code from your phone. Enter it and press 'Submit'.

You will be sent an email to confirm the withdrawal.

Go to your email and click the link that has been sent to you.

Setting up a Binance account
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15

Go back to your wallet. Click the 'Home' button along the bottom menu.

After a few minutes you should now see the Ripple (abbreviated to XRP) in your wallet.

Setting up Ripple wallet
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What about when you're ready to sell your Ripple?

You simply reverse the order of tasks you performed in this guide.

For example, you send your Ripple to Binance, exchange it for Ethereum, send that Ethereum to Coinbase Cex.io Local Bitcoins and sell it for your preferred currency.
Links

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Other coin guides
Further reading
The Age of CryptocurrencyThe Age of Cryptocurrency
The Internet Of MoneyThe Internet of Money

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