How to Buy Ripple in South Africa

Even though it is one of the more popular cryptocurrencies around, it’s not always easy to know where to buy Ripple in South Africa. Fortunately for you, we’re here to help with that. However, before we get too far into things, let’s discuss what buying cryptocurrency entails.

When you buy cryptocurrency, you’re more than likely going to go through an exchange. This is a platform which lets you buy, sell, or trade your favorite digital currencies. However, most exchanges require that you register for security purchases, just like you do with your banking website.

You can deposit funds into the exchange after you register, which you can use to purchase your Ripple in South Africa. Right now we’re specifically discussing Ripple, however, you can buy other cryptocurrencies through exchanges as well.

When it comes to buying Ripple in South Africa, there are a pair of platfoms that we really like: Plus500 and Coinmama. These two exchanges are great if you want to buy cryptocurrency. Each platform is hassle-free and offers a simple, straightforward way to buy Ripple. It’s also easy to register and get going on both platforms.

Here’s our guide on how to buy Ripple in South Africa.

 

  • 📈 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, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ 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. 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.

Where to Buy Ripple in South Africa

Contract for Difference

Contract for Difference, or CFD, is a great way to gain exposure to cryptocurrencies without holding the coin itself. Instead, you “trade” Ripple at a set position. When it reaches the price you want, you close out your position. The difference between the two points is given to you in cash. Thus the phrase Contract for Difference.

Our preferred CFD site for buying Ripple in South Africa is Plus500. You can view the price of Ripple and gain experience and exposure without ever holding XRP. Plus500 offers a wide range of options for depositing funds and since you’re not actually buying Ripple, you don’t have to worry about having an offline wallet in which to store it.

Plus500 is a solid, reliable, and regulated CFD broker through which you can “buy or sell” Ripple in South Africa. These great features and many others make Plus500 an excellent way to learn more about Ripple.

Standard Cryptocurrency Exchange

When you use a standard cryptocurrency exchange, you’re buying, selling, and trading, the actual coin. In this case, you’re buying Ripple. Standard exchanges also allow you to purchase other cryptocurrencies if you feel so inclined.

The standard exchange we like most is Coinmama This is a great option if you’re new to the world of cryptocurrency. Coinmama’s platform is simple and easy to use, so you won’t have to wonder what exactly is going on. It’s the perfect exchange to use to buy Ripple in South Africa.


Buy or Sell Ripple with Plus500 in South Africa

How to buy Ripple XRP in South Africa with plus500

Plus500 is an excellent site if you want to trade Ripple in South Africa. With Plus500, you can gain exposure to Ripple without storing it in a digital wallet. If this sounds like something for you, find your way to Plus500 to get started.

On the home page, you’ll see a button labeled “Start Trading Now.” Click on that to begin

Hot to get started on Plus500 in South Africa

Plus500 lets you choose to trade in either Demo Mode or Real Money. With Demo Mode, you can learn more about the platform and become more comfortable making trades before you start using your own funds. For the purposes of our guide, we’re going to use Real Money.

You’ll also notice download links for your Android and Apple devices. If you want to use Plus500 on the go, you can get the app for your smartphone or tablet here.

How to create real money account on Plus500Plus500 will ask that you fill in a valid email address, along with a password, so that the site can create an account for you. If you don’t want to have to remember another username and password, you can choose to use your Google or Facebook accounts to register. Once you’ve made your choice, select “Create Account” to move on to the next step.

How to create account on Plus500

Next, Plus500 will request personal information from you. This will include documentation for identity verification. Most secure exchange request this type of information to protect their sites. It’s so they know exactly who is using the platform.

Depositing Funds to Buy Ripple

Plus500 will send you a notification when your account is activated. At this time, you can load your account with funds. You can choose between wire transfer, Paypal, Skrill, or using a debit or credit card.

How to deposit on Plus500

Once your funds show in your account, you’re ready to “buy” Ripple. Select the “Trade” button located on the left side menu. Then, find and click on “Cryptocurrencies.” This will open a list of cryptocurrencies that Plus500 supports.

Buying Ripple in South Africa is quick and easy when you use Plus500. Plus, you can purchase various crypto CFDs from the same account.

Find Ripple in the list of cryptocurrencies, then click on the “Buy” button listed to the right. A box will show up on the side asking you to put in the amount of Ripple you want. Additionally, Plus500 lets you explore advanced features and options as well. When you’re happy with your entries, go ahead and press on the “Buy” button to submit your order.

How to buy Ripple XRP in South Africa on plus500

Plus500 will process your order, then send you a notification when it’s complete. At this point, you can see your position, funds available, margin, and profit and loss information. Once Ripple reaches a point where you’re ready to close out your CFD, click on the “Close” link.

How to sell Ripple XRP on Plus500


How to Use Coinmama to Buy Ripple

Coinmama is another great exchange when you want to buy Ripple in South Africa. Unfortunately, at this time, the only way to use Coinmama is through its website platform. It does not offer a mobile option, however, it is still an excellent exchange through which you can buy Ripple.

When you’re ready to get started, visit the Coinmama site and look in the top right corner. You’ll see a button labeled “Sign Up.” Select that link to start the registration process.

How to signup to Coinmama

Next is a short form that Coinmama wants you to fill in. Enter a valid email address, type in a password, then fill in the remaining fields. When you’re done, send your info off to Coinmama. You’ll get a confirmation email almost immediately.

How to create a Coinmama account

Find the email in your inbox, then click on the verification link. At this point, Coinmama will request more personal data about you. This is how Coinmama validates users on its site, so there’s nothing to worry about. This is something nearly all cryptocurrency exchanges request from their users.

Coinmama registration form

Once you’re provided Coinmama with the necessary information, the exchange will ask for documentation to verify you are who you say you are. You can use your driver’s license, passport, or other forms of identification issued by the government. This is part of the site’s Know-Your-Customer process and provides an additional layer of security for both the exchange and its users.

It usually only takes a few hours for Coinmama to process your documents. You shouldn’t have to wait too long before you’re ready to start purchasing Ripple.

Buying Ripple

When buying RIpple on Coinmama, something to keep in mind is that the platform does not store your financial information locally. That means when you’re ready to buy, all you have to do is enter your debit or credit card info. However, some people aren’t too keen on this since they have to enter their information every time they’re ready to buy.

When you’re ready, click on the button labeled “Buy” located in the top right corner. Next, you’ll see a list of cryptocurrency options. Ripple is XRP, so select that. At this point, you can also see the rate of exchange for USD and EUR. Choose the currency that makes the most sense for you.

Tell Coinmama how much XRP you want, or if you prefer to use EUR or USD, Coinmama has a field for that which will automatically convert to Ripple for you.

Coinmama will also want your Ripple wallet address. The site does not hold a wallet for you, so you’ll need to create an office wallet to send your Ripple to once you buy it. Provide your wallet info, then type in your method of payment to finish out the transaction.

 

How to buy Ripple XRP using Coinmama

 

When your payment goes through, Coinmama will deposit your Ripple into your wallet. Another item to bear in mind as you purchase Ripple through Coinmama is that the site has a minimum amount you have to purchase. Be sure you’re entering at least that much so you can buy Ripple without problems.


Let’s Talk about Ripple

While Ripple is the name of the coin you’re buying, it’s also the name given to its payment network. Ripple wants to provide an easy method to make payments using its decentralized platform, which focuses on using the coin’s network for payments.

Ripple Leadership

Ripple is a worldwide company with offices located all over the globe. These include locations such as San Francisco, Singapore, London, India, New York, and Luxembourg. Plus, the leadership team itself has plenty of experience in several markets, including technology, compliance, and finance.

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

Who Is Ripple For?

Many people are surprised to learn that Ripple does not view itself as a direct competitor of Bitcoin. Ripple considers itself as the ideal platform for those new to crypto who want to learn more about the ins and outs of the community. The coin believes it is the ideal complement to a newer portfolio.

How Does it Work?

Ripple is designed to provide its users with a way to transfer currency of any kind through a decentralized ledger. For example, you can perform transactions for USD, EUR, Bitcoin, and Litecoin through the Ripple system. Their goal is to be the main source of moving or exchanging all currencies.

The network can also handle big financial institutions and banks if need be. It is a reliable method through which companies and individuals can move money around the world. This can be done at any time and for a fee that is a fraction of what current banks charge.

Additionally, those who use Ripple will see faster speeds and quicker transfers. The average transaction time is less than four seconds, which means you’re getting money quicker than ever before.

Pros and Cons of Ripple XRP

 

Ripple XRP logo

 

Pros
  • Steering banking away from financial institutions and toward blockchain technology
  • Offers an elegant solution to a stagnating industry
  • Continues to see growth and adoption
  • Quick transaction confirmations
  • Consistently ranks in the top 3-5 cryptocurrencies from a market capitalization perspective
Cons
  • Owns a large percentage of its own coin which means it does not have majority ownership by the public
  • Early focus on banks caused some on crypto community to move to other options
  • Not truly decentralized since there are only a few active nodes on the network itself
  • Requires validation from financial institutions, which is something crypto wants to get away from
  • As a cryptocurrency, Ripple is susceptible to volatility and sudden peaks and valleys

Is Ripple a Good Investment?

We can’t tell you how well Ripple will do in the future, so we can’t tell you without a doubt it’s a good investment. Still, there are some points to consider as you make your decision:

  • Ripple is not as risky as some other cryptocurrencies since it ranks in the top 5 cryptocurrencies on a consistent basis
  • The project has relationships with many payment providers and financial institutions
  • Ripplenet is used by people from all over the world
  • Available to purchase, sell, or buy on many cryptocurrency exchanges
  • Starting to feel pressure to perform from other finance coins such as Stellar

Another item to remember is that as a cryptocurrency, Ripple is inherently volatile. It can be prone to highs and lows without warning, so be sure you only invest as much as you’re okay with losing. To learn more about how Ripple has performed in the past, or view analytics on it, head over to CoinMarketCap or Trading View.

 

  • 📈 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, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ 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 other popular cryptocurrencies such as Bitcoin and Ethereum in South Africa.

Further Reading At TotalCrypto.io
1) Learn Even More About Ripple XRP In Our Extensive Guide.

2) Heard About Altcoins & wondered how To Get Them? Our Extensive Altcoin Buying Guide Shows you How.

3) People Like To Talk About Crypto Portfolios. We Show You Our Top Tips On How To Make One.

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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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