🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

Video Courses
Video Courses
Scale your career with online video courses. Dive into your learning adventure!
Where to Buy Ripple and What Is Ripple - A Full Ripple Review

In this guide, we’re going to be looking at the Ripple payment protocol, as well as the digital currency that’s native to the network, XRP. So time to find out, where to buy Ripple.

The guide will cover a range of topics. These will include what Ripple actually is, a little bit of its history, and how Ripple is used. I will also explain how XRP is used, and how Ripple and XRP work together. I’ll briefly introduce you to the team behind the project and give you some things to think about when deciding whether to invest in Ripple or not.

By the end of the guide, you’ll know: what Ripple can do today, where it started, and who is behind the project. You’ll also know some of the advantages and limitations of the Ripple platform, as well as where to buy Ripple.

There’s an awful lot to cover this time. So, let’s get started already!

What is Litecoin? LTC Easily Explained (ANIMATED)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Litecoin? LTC Easily Explained (ANIMATED)

What is Litecoin? LTC Easily Explained (ANIMATED) What is Litecoin? LTC Easily Explained (ANIMATED)

Learning About Ripple

Where to Buy RippleRipple causes a lot of confusion in the cryptocurrency space. The name is often used to describe the platform itself, as well as the currency that is native to the network. However, they do have their differences.

Latest Deal Active Right Now:

So prior to finding out where to buy Ripple, let's find out what Ripple actually is. Ripple, the payment protocol, is often confused with the currency — XRP. To avoid this confusion during this guide, I’ll be using the term Ripple to refer to the payments protocol and XRP to refer to the coin (currency) that runs on the network.

Ripple is a global system of payments, settlements, and exchange. It aims to improve on current banking systems. The two issues with banks today that Ripple hopes to improve are:

  • Slow transaction times
  • Expensive cross-border payments

Ripple is very different to truly decentralized cryptocurrencies like Bitcoin. It has been designed to work with banks, rather than to replace them. You can think of the Ripple protocol as the internet for banks — it allows all banks to communicate with each other in a common language.


Tom Channick, an employee of Facebook, stated, he will be leaving Facebook to take over comms @Ripple. This already shows where Ripple can move already.

Tom Channick twitter post on Ripple

A Bit of History on Ripple

Ripple has a long history and started life as Ripplepay in 2004.

The version of Ripple we know today was released in 2012 though. Since 2013, many banks have started using Ripple to help with money transfers and exchange. It’s estimated that 80% of Japanese banks are currently using the payments protocol.

After several team member changes, today XRP (the Ripple network’s native coin) is the third largest digital coin in terms of market cap. It has grown into a tool to help banks exchange currencies with one another and to allow their clients to make very quick payments to each other. Using Ripple, you can pay a colleague or associate on the other side of the world in seconds in their local currency.

How is Ripple Used

Ripple is used as a global settlement network. It lets banks (and other retail users) make cross-border payments and exchange currencies with one another. It gives all the banks using it one common language. This means they can communicate much more easily with each other.

How ripple is used

Today, many banks still use services like SWIFT. SWIFT was designed in the 1970s. It lets banks send money from one bank to another. However, it is very slow and expensive. Transactions can take days or weeks using SWIFT. They can also cost a large percentage of the total amount transferred.

Ripple hopes to change that. Like the internet helped people communicate across countries, Ripple aims to give banks a way to communicate value across countries. Doing it as fast and cheaply (or nearly as fast and cheaply) as data can travel on the internet. So now you have even more reasons to find out where to buy Ripple.

Think about sending an instant message to a friend; It arrives quicker than you could speak the message itself. Ripple hope to provide this kind of speed and efficiency to the world of finance.

The Ripple payments protocol is often referred to as “currency agnostic”. This means that you can put any currency into the system and get any currency out. This built-in exchange feature makes Ripple very useful for global financial institutions to communicate with each other.

That’s not all though. What’s sent and what is received doesn’t have to be currency at all. It can be air miles, assets, gold, silver, and more.

For example, you could put gold into the Ripple payment protocol, and receive dollars, euros, or pounds on the other side of the world in seconds. So, you can see why the banks like it!

How XRP Is Used

XRP is a digital coin. It exists on the Ripple network. XRP is intended to be used as a “currency of last resort”. This means that if there is no line of trust available between two parties, the transaction can be settled using the common currency XRP.

XRP can be transferred very quickly. It only takes a few seconds to travel between sender and receiver. When you'll know where to buy Ripple and will have some, you'll see it for yourself!

How XRP is used

XRP is also used as a transaction fee and stops unwanted transactions appearing on the network. All parties wanting to make updates to the Ripple protocol ledger must pay XRP. This is usually a very small amount, such as 0.0001 XRP. This fee goes to no one and is burned, which causes a constant decrease in the amount of XRP’s to exist.


Ripple has a very experienced team behind it. It’s led by CEO Brad Garlinghouse. Before joining Ripple, Garlinghouse worked at a document and file sharing service called Hightail. He has also held important positions at AOL and Yahoo!

Beneath Garlinghouse is Ripple’s Senior Vice President (SVP) of Product, Asheesh Birla. Birla joined the team in 2013. Before that he was a Silicon Valley entrepreneur. He is thought of as an expert in the blockchain industry.

Patrick Griffin is Ripple’s SVP of Strategic Growth. He’s an ex-employee of online payment firm Jumio. He also has a background in equity trading.

Ripple’s Chief Market Strategist is Cory Johnson. He worked as a hedge fund portfolio manager at Kingsford Capital Management before joining Ripple. He has also been a technology writer for CNBC and Bloomberg.

Kanaan is Ripple’s SVP of Engineering. He has previously managed teams at Yelp and Quantcast.

Where to Buy Ripple

Unfortunately, we can’t tell you where to buy Ripple. Ripple isn’t for sale, and if it was, you couldn’t afford it!

What we can tell you is the best place to buy Ripple’s native coin, XRP!

There are many cryptocurrency exchanges that let you buy XRP. However, to the best of my knowledge, there are no ways to buy XRP directly with fiat currency. The easiest way to get some XRP is to first buy some Bitcoin or Ethereum.

Buying Bitcoin is easy. There are lots of different exchanges that will sell it for local currency. The most popular is a website called Coinbase. Other methods include buying peer-to-peer with a service like LocalBitcoins, or through an exchange like Bitstamp. After buying Bitcoin, you can send it to one of the various altcoin exchanges, where you can exchange it for XRP. Examples of these are Binance, Bittrex, or Poloniex.

Note: Fiat currency refers to money issued by a central bank. Dollars, euros, pounds, and yen are all fiat currencies.

We’ve listed the steps for buying Bitcoin and exchanging it for XRP below. In this example, we’re using Coinbase and Bittrex:

Where to Buy Ripple: Coinbase

  • Head to Coinbase and click sign up.
  • Fill in the registration page.

Create an account section on Coinbase

  • When registered, you need to add your bank account details.
  • Then, to buy Bitcoin, click the “Buy/Sell” tab as shown below.Where to Buy Ripple
  • You then need to enter the amount of Bitcoin you would like to buy.
  • Choose your payment method and enter your details to complete the sale.
  • Click on the “Accounts” tab and you should see the amount of Bitcoin you just bought in your Bitcoin wallet.

If you want a more in-depth guide on how to do this, visit our guide here: The Complete Guide on How to Buy Bitcoin and Where to do it

  • Then you need to head over to Bittrex.

Where to buy Ripple: Bittrex

  • Fill in your details on the standard registration page.
  • Once registered, click “wallet” on the top menu.
  • Click the small + sign next to Bitcoin. This gives you your Bitcoin receiving address.

Bittrex deposit address

  • Copy this address and head back to Coinbase.
  • When you have logged in to Coinbase, click on the “Accounts” tab.

Accounts section on coinbase

  • Under “Your Accounts” you will see your Bitcoin wallet. This is where you will see the amount of Bitcoin you purchased on Coinbase. You need to click “Send” as shown below. (For this example, we didn’t purchase any Bitcoin. That is why the “Send” option is grey. If you have Bitcoin here, you should be able to click it.)

Coinbase account BTC wallet

  • Once you have clicked “Send” you should see the following box

how to send cryptocurrency on coinbase

  • In the Recipient box, you need to paste the Bittrex address you copied earlier.
  • Enter the amount of Bitcoin you want to transfer to your Bittrex wallet.
  • Click “Send funds”
  • In a few minutes, you should receive your BTC at Bittrex.
  • Go back to Bittrex and click the button at the top of the page that has a Bitcoin logo with the word “market” next to it.
  • Type “XRP” in the box that appears and clicks the link.
  • On the left of the screen, you’ll see the buying options. Enter the amount of Bitcoin you wish to spend on Ripple and click the “Price” link.
  • Then, click “Ask”. This is the fastest way to fill an order on an exchange. Using “Ask” isn’t recommended for huge orders but for lesser amounts and for the purposes of this example, it’s fine.

Where to Buy Ripple

  • It might take a few minutes to complete your order. When it’s done, your XRP will appear in the wallet section.
  • You should then transfer your XRP from Bittrex and store it in a secure wallet. The type of wallet I’d recommend for Ripple is a hardware wallet. You can find out more about our two favorite hardware wallets here: Trezor vs Ledger - Things to Know Before Buying

And now you know where to buy Ripple (XRP).

Where to Hold Ripple (XRP)

So you eventually made a decision and, by following the guidelines provided above, purchased some Ripple coins. Congratulations! Now, the question is... Where should I hold my Ripple coins?

Of course, you can keep it on the same exchange you purchased Ripple coins from, but this is not the recommended way. Cryptocurrency exchanges tend to be insecure in terms of cryptocurrency storage as there have been many instances when exchanges were hacked and all cryptocurrency holdings were stolen.

For this reason, it is mostly recommended to hold XRP in a chosen Ripple wallet. In fact, there are tons of different cryptocurrency wallet types to choose from: you can store Ripple in a hardware wallet, desktop wallet, software wallet or mobile wallet. Each of these types has its own pros & cons, so it can sometimes get confusing. Hence, check out this Ripple wallet guide to learn more about different Ripple wallet types and discover which Ripple wallet would be the best choice for you.

Ripple Mining?

Unlike Bitcoin, all the XRP coins have already been created. Without new coins being created, we can’t tell you how to mine Ripple. A lot of people think that it’s possible to mine XRP. They’re wrong. So, if your Ripple mining or XRP mining, more appropriately, is impossible. If you're a miner, maybe you'll be more interested in finding out about how to mine Ripple instead of where to buy Ripple.

When Ripple was created, the team made 100,000,000,000 XRP tokens. They were shared out among various interests.

The Ripple team are responsible for holding billions of XRP. Some of these will eventually be released into the open market, but 20% of the total supply is kept by the creators of the protocol. Apart from various issues of centralization, this is one of the biggest problems with the Ripple project.

Like Bitcoin and other blockchain projects rely on “miners” to validate transactions on the network, the Ripple protocol uses validator nodes. These validator nodes prevent double spending of XRP.

Unlike Bitcoin’s miners, validator nodes in Ripple don’t receive a reward for validating transactions. However, they do earn voting rights on the network. These validator nodes are chosen by the company behind Ripple. Therefore, Ripple is thought to be more centralized than other blockchain projects.

Ripple does have a program to create further decentralization of these validators in the future though.

Potential of Ripple

Investors in the cryptocurrency space hear that Ripple is associated with banks and immediately they see dollar signs. After all, banks do have a lot of money to play with!

However, whether Ripple is actually a good investment is another matter.

There are a few things about it that should make you think twice before you go “all-in” on Ripple. Let’s have a look at them.

We’ll start with the things that make Ripple or XRP a potentially good investment:

thumbs up PROs
Banks are already using both the Ripple protocol and XRP.
XRP is burned when it’s used to pay for a transaction. This is only a tiny amount but the number of XRP in existence is shrinking. If there is a demand for XRP, the value of each coin should increase.
 It makes international payments and exchanges very easy. Ripple could potentially become the backbone of the global economy.

thumbs down CONs
Difficult to know exactly how much XRP is being used.
The fact that Ripple, the company, could suddenly drop the entire market by releasing the coins they held back should be a concern.
To make it government approved, Ripple allows balances to be frozen. This should scare all those who get excited by the permission-less nature of Bitcoin and all other cryptos.


If you’re thinking about making an investment in XRP, it’s very important that you completely understand how it works and what it is capable of. You must know that the Ripple payment protocol can exist and still work for inter-bank transfers without using its native currency XRP.

This could make an investment in the protocol itself a better move. However, you would need to be an accredited investor to do this.

The most important thing to remember is that digital currencies are very new. As such, they are by no means a safe investment. The whole space could come crashing down. If Ripple suddenly was made illegal in most of the world and banks could be stopped from using it. As unlikely as this sounds right now, it’s still the most likely thing to topple Ripple at present.

Alternatively, a better system might come out, or some system-breaking failure could permanently break the entire protocol.

As with all investments, you must understand exactly how Ripple and XRP work before buying into it. As a high risk, high reward investment, it’s also important that you don’t risk more than you can afford to lose. The market is finding a price for digital currencies right now and that price might be much lower than they are priced at today.

So, that’s our Ripple guide. Hopefully, you learned some more about one of the more misunderstood digital coins around. With all your new-found knowledge, will you be investing in Ripple or XRP?

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

About Article's Experts & Analysts

By Aaron S.


Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Latest Crypto Videos & News

TOP3 Most Popular Coupon Codes



Exclusive Binance Referral Code
Rating 5.0

UP TO $30,000 BONUS

Get Bybit Referral Code Reward
Rating 5.0


On Ledger Nano S Plus 3-Pack
Rating 5.0

Leave your honest feedback

Leave your genuine opinion & help thousands of people to choose the best crypto exchange. All feedback, either positive or negative, are accepted as long as they’re honest. We do not publish biased feedback or spam. So if you want to share your experience, opinion or give advice - the scene is yours!

Recent User Reviews


Apr 14, 2024

Thank you BitDegree


Great Cook

Jun 07, 2024

easy to understand

It is easy to understand


May 16, 2024

Too detailed

Detailed and extremely complete, easy to understand

Quiet Chip

Apr 20, 2024


General and complete article, million likes!!!!!!

Divorced Muffin

Jun 16, 2024

Pin and share

I've pinned and shared the post for those of you who are interested!

Marcie Bear

Jun 18, 2024

Somewhat confusing

Why do I find it difficult to understand? Does anyone look like me?


Apr 06, 2024

so great

complete guide

Callie Bate

Apr 26, 2024

I read it once and understood immediately

Easy to understand and immediately applicable

Anum Stanley

May 15, 2024


very logically divided into parts


May 15, 2024

BitDegree always do well

This guide is very complete


How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.



Earn Huge Exclusive Binance Learners Rewards