How To Buy Ripple In Australia

Okay, so you live in Australia and you want to lay your hands on some Ripple (XRP). Excellent. We’re here to help you do that. Before we get too far ahead of ourselves, let’s run through what it means to buy cryptocurrency.

Cryptocurrencies are purchased through a crypto exchange or CFD broker. If you’re not familiar with these then, they are simply platforms that you create an account for, just like you would for any other site that requires a login. After you’ve signed up, you’ll deposit funds (most likely AUD) to your account. At this point, you can now use your AUD to purchase your favorite digital currency, or in this case, Ripple.

There are a few options in Australia when it comes to choosing a cryptocurrency platform. Unfortunately, the vast majority only offer support for a few coins. These are typically the more popular coins like Bitcoin and Ethereum.

That being said, our preferred Australian cryptocurrency platforms are Plus500 and CoinSpot. Both of these are easy to use and signing up is quick and painless. With either of these options, you can trade Ripple.  

Here is our walkthrough on how to get started.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, LTC, DODGE, ETH, NEO, GAS, POWR, XRP, TRX, EOS
  • 💰 Deposit Methods: Bank or Newsagent Cash Deposit
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form
  • ❌ Mobile App For iOS & Android

 

Note: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Ripple In Australia: Where To Get It?

Contract for Difference

When you go the Contract for Difference (CFD) route, you’re using a product that provides all the advantages of having a Stock, Option, Commodity, or Coin, without requiring you to actually own it. Users enter a Contract for Difference at a price they set. When the position the user wants is reached, the contract closes. The difference between them is then paid out to the user.

Plus500 is our favorite way for Australians to ride the ups and downs of the Ripple XRP price. When using this CFD broker, you have a way to easily learn about the current Ripple price. With CFD sites, you don’t have to worry about learning how to set up an XRP wallet. Plus, the site well-regulated and has an excellent Android and iOS app for trading on the move. Plus500 offers users a reliable, simple, and innovative way to get exposure to Ripple XRP in Australia.

Standard Cryptocurrency Exchange

A standard cryptocurrency exchange is a platform on which you can buy, sell, and trade Ripple in Australia. You can also purchase other cryptocurrencies if you’re interested in more than Ripple.

CoinSpot is one of our favorite exchanges to buy Ripple. The site easy for beginners and gives you a wallet in which you can store your Ripple. With CoinSpot, users have a simple platform on which they can buy, sell, and trade their favorite cryptocurrencies. Additionally, the site is constantly updating with new digital currencies.


Sell or Buy Ripple (XRP) with Plus500

Buy and sell Ripple XRP in Australia with Plus500

Those interested in selling or buying Ripple in Australia can use Plus500. This is a CFD site that allows you to purchase crypto without having to actually own it. To start trading Ripple on the Plus500 platform, you’ll have to head over to the site and create an account (80.6% of retail CFD accounts lose money).

To do so, select the blue “Start Trading Now” option on the site’s main page.

How to create Australian Plus500 account

Next, you’ll see a page that lets you choose between Real Money and Demo Mode. If you’re not comfortable using your own money, choose Demo Mode and familiarize yourself with the platform. For the purposes of our walkthrough, we’re going to use Real Money.

Also on this page are a few links to download the mobile app to your iPhone or Android smartphone or tablet.

How to create real money account on Plus500

The next screen has a form which you’ll need to fill out to register for Plus500. Enter your email address along with a password. If you prefer, you can choose to register your account with your Facebook or Google information. When you’re finished entering your info, click on the blue “Create Account” button to move on.

How to create account on Plus500

Now you’ll have to give Plus500 some personal information and documentation to verify you are who you say you are. This is standard for exchanges, so don’t worry about the security of your information. When you’ve provided everything, your account will be activated.

How to verify on Plus500

Depositing Funds and Buying Ripple

Once you have verification that your account is active, you can start depositing your AUD into your account. Plus500 gives you the option to deposit AUD using credit cards, debit cards, Skrill, Paypal, and wire transfers.

How to deposit on Plus500

When you see your AUD hit your account, you’re all set to start buying Ripple. Click on the “Trade” selection on the left of your screen, then choose “Cryptocurrencies.” You should now be able to see a list of CFD available cryptocurrencies.

Plus500 is a great way to buy Ripple in Australia. It offers users a simple and easy method through which they can purchase crypto CFDs right at their fingertips.

Everything is ready to go now to purchase Ripple. All you have to do is click the “Buy” button. When you do, a window will pop up, allowing you to set the parameters you want to use for your CFD.

Enter the amount of Ripple you want to purchase. You can also choose whether you want to close at a profit or close at a loss. There are also more advanced options if you’re comfortable with them. When you’re satisfied with your entries, select the “Buy” button.

How to buy Ripple XRP on Plus500

Once your order is filled, you’ll receive an alert that shows your position. This includes your current profit or loss, funds you have available to trade, and your margin. When your Ripple reaches a point where you’re ready to close the contract, just click on the “Close” button under the Sell and Buy option.

How to sell Ripple XRP on Plus500


Buy Ripple (XRP) with CoinSpot

Coinspot logo

Another one of our favorite cryptocurrency exchanges in Australia is CoinSpot. As a more traditional exchange, CoinSpot lets you buy, sell, and trade digital currencies that you hold. Those who use the exchange usually get a fantastic user experience. The platform is accessible via multiple devices and is easy to navigate.

When you’re ready to start buying Ripple through CoinSpot, you’ll want to go to the site and register. In the upper right corner of the home page, you’ll see an option to register. Click on that button to get going.

Register account on Coinspot

Next, you’ll have to fill out the registration form so you can create an account with CoinSpot. All you have to do is provide your email address, select your password, and put in your referral code if you happen to have one available. Tell the site you’re human, then select the “Create Account” link below the form.

How to create an account on Coinspot Exchange

Almost immediately after you complete your CoinSpot form you’ll get an email from the exchange. Confirm your email address by clicking on the link in the message. It will redirect you to CoinSpot, which will then request additional information so you can validate your identity.

Choose the “Account” link in the upper right of the screen, then choose “Verification.” You’ll validate all your personal info with documentation which CoinSpot requests. Like with Plus500, there’s nothing to worry about as many cryptocurrency platforms ask for this type of information.

How to verify account on Coinspot

At this point, we’d suggest you enable two-factor authentication as well. Using 2FA gives you an added security layer to protect your funds. On CoinSpot you can do this through SMS or through Google Authenticator, which you can download from an app store.

Depositing Funds and Buying Ripple

After CoinSpot confirms your identity, you can start funding your account with AUD. Simply head over to the Dashboard and choose the “Deposit AUD” option. Now you can choose which payment method you’ll use to deposit AUD into your CoinSpot account.

Depending on which payment method you choose, you may have to wait a few days before your funds are available. CoinSpot will show you how long you can expect to wait for each payment option.

When you AUD shows up in your account, you’re all set to buy some Ripple. Select the “Buy/Sell” link in the banner at the top of the platform.  Now move down the screen until Ripple shows up. Click on “Buy XRP” to continue with the buying process.

How To Buy Ripple XRP On Coinspot exchange

The following screen lets you enter the amount of Ripple you want to buy. CoinSpot shows you the amount in both AUD and XRP so you don’t have to do the conversion yourself. Once you’ve entered an amount, select the “Buy” button under the amount.

Buying XRP Ripple on Coinspot exchange

Next, you’ll get a popup that will want you to confirm your Ripple purchase. Take a minute to review everything, then when you’re ready, select “Confirm Buy.”

Once everything completes, you’ll receive your Ethereum in your wallet. Navigate to the “Wallets” option located at the top of the exchange to view your balance.


More About Ripple

There are two primary purposes the name Ripple serves: First, it is the name of the cryptocurrency and second, it is the name of the payment network. Ripple aims to establish a platform which has the ability to be easily distributed. This platform will primarily focus on Ripple’s payment platform.

Ripple Leadership

With offices throughout the globe, Ripple is considered a worldwide company. The cryptocurrency has offices in Singapore, Inda, Sydney, London, New York, Luxembourg, and San Francisco. Leadership within the company offers strong experience in the technology, financial, and compliance industries.

Ripple’s leadership staff includes CEO Brad Garlinghouse, Chief Compliance Officer Antoinette O’Groman, CTO Stefan Thomas, Chief Cryptographer David Schwartz, Global Head of Strategic Accounts Marcus Treacher, VP of Finance Cameron Kinloch, SVP of Global Sales John Mitchell, and SVP of Business Development Patrick Griffin.

Who Is Ripple For?

Ripple is perfect for those who already have a little experience in the world of cryptocurrency, however, it does not consider itself a Bitcoin competitor. Ripple see itself as a platform that complements the already existing system and the digital currencies within it.

The digital currency specifically designed their system to provide a way for users to seamlessly move any type of currency. It doesn’t matter what type of currency you’re using. It could be Pounds, Euros, Dollar, Bitcoin, or Ethereum. Ripple wants to be the lone system people turn to when they want to transfer or exchange various types of currencies.

Ripple’s platform is also meant to support bigger companies, businesses, and financial institutions. The system offers a reliable and simple way for both companies and individuals to make cross-border payments anytime they want.

Additionally, Ripple’s customers will like the payment processing system as it offers lower costs on exchanges and is much quicker than current payment methods. This is seen in the transaction speeds of less than four seconds that Ripple boasts on its platform.

Pros and Cons of Ripple XRP

Ripple XRP logo

 

Pros

Ripple is slowly turning the massive ship that is banking and moving it and other financial institutions in the direction of blockchain and cryptocurrency. They’ve done this by showing the industry a better and more efficient method of doing what they already do. As a result, the traffic and usage of XRP only continue to grow.

We’ve already mentioned that Ripple confirms transactions very quickly. In under four seconds, as a matter of fact. The Ripple platform can perform more than 10,000 transactions every second, which gives it a huge advantage over Bitcoin and various other cryptocurrencies.

XRP continues to gain adoption and traction in the market as Ripple shows why its appealing to larger institutions and banks. The Ripple network is continuously in the top 5 and almost always in the top three of all cryptocurrencies in regards to market cap.

Cons

In its early goings, Ripple focused primarily on banks, which turned off some early adopters in the crypto community. Additionally, the company itself holds a vast majority of XRP, keeping more than 60% for itself. Even if it has a huge sell-off, Ripple will still have the 51% advantage, which means they retain control of their blockchain.

Ripple is a pre-mined cryptocurrency, so there isn’t much of an incentive for nodes to be active on the network. This means corporations like financial institutions and banks have to provide validation for the network. As a result, there are only a few nodes on the network, which means it’s not truly decentralized.

Lastly, Ripple is a digital currency. That means even though it might look promising as a project, it’s still susceptible to all the risks which are inherent with cryptocurrencies. Only invest money you are okay with losing.

Is Ripple a Good Investment?

No one knows how Ripple is going to perform in the future, which means it’s impossible to know if it’s a solid investment choice. However, there are some things you can think about while you decide:

  • Ripplenet could be a very lucrative network and it is used by people from around the globe
  • XRP could be a less risky investment as it consistently ranks near the top of cryptocurrencies in regards to coin market capitalization
  • Available on most cryptocurrency platforms
  • Established partnerships with many financial institutions and payment providers
  • Buying, selling, and trading Ripple is quick and easy
  • Could continue to see pressure from other finance coins like Stellar

As an asset class, cryptocurrency has inherent risks with which it is associated. Remember that the crypto market is volatile and prone to sudden highs and lows. If you want to learn more about Ripple analytics and behavior, you can visit Trading View or CoinMarketCap.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, LTC, DODGE, ETH, NEO, GAS, POWR, XRP, TRX, EOS
  • 💰 Deposit Methods: Bank or Newsagent Cash Deposit
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. 

You can also buy Bitcoin, Ethereum and Litecoin in Australia using CoinSpot and/or Plus500.

Further Reading At TotalCrypto.io
1) Need More Information Before Making A Move? Read Our Comprehensive XRP Ripple Guide.

2) Want A Helping Hand Getting Started On Plus500? Our Plus500 Walkthrough Tells You Everything You Need To Know.

3) Don’t Have All Day To Be Trading? Learn About Scalping & How You Can Benefit From 30 Minute Trades.

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DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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