How to Buy Ripple in the UK

If you’re living in the UK and you want to get your hands on some Ripple (XRP), but you don’t know how to do it, you’ve come to the right place. We’re here to tell you how to buy Ripple in the UK. Before we get started, let’s do a quick rundown of what buying cryptocurrency really means.

You buy cryptocurrency through a cryptocurrency exchange. Exchanges are places where people go online to buy or trade currency. It requires that you create an account for security, just like most banking sites.

After you sign up, you can deposit your first GBP or EUR funds and then use them to buy Ripple coin. In this case, we’re talking specifically about XRP, but you can use exchanges for other cryptocurrencies, too.

There are several options in the United Kingdom for buying Ripple on a cryptocurrency exchange. The drawback is that most of these exchanges only support a few coins each, and they’re usually the popular coins like Bitcoin and Ethereum.

Plus500 and CoinMama are two of the preferred UK exchanges for buying cryptocurrency. Both platforms offer a quick and painless setup process and are easy to use once you get started. You can buy Ripple (XRP) on both exchanges.

Here’s a quick walkthrough for how to get started with buying Ripple.

 

  • 📈 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 the UK

Ripple XRP coin

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Contract for Difference

Contract for Difference is a product that gives you the ability to get exposure to a cryptocurrency or stock without actually owning it. You enter into a CDF at a certain price, then when you close your position, you get the difference in cash. This is where the term ‘Contract for Difference’ originates.

Plus500 is our favorite CFD site for those in the UK. With this site, you’ll have a way to learn more about the price of Ripple. You’ll have plenty of deposit options and won’t have to worry about storing your crypto. Plus, the site is well regulated.

You’ll get a reliable and innovate platform where you can “buy” Ripple with Plus500. These great features make Plus500 our favorite way to gain exposure to Ripple.

Standard Cryptocurrency Exchange

A standard cryptocurrency exchange allows you to buy, sell, and trade Ripple in the UK. You can purchase other cryptocurrencies as well if you want to try your hand at owning more than just Ripple.

CoinMama is a standard cryptocurrency exchange that’s easy to use, especially for beginners. With CoinMama, you can set up a wallet to hold your coins and the platform is also simple to understand when you want to buy, sell, or trade your crypto.


How To Buy Ripple with Plus500

Buy Ripple XRP in UK with Plus500

If you’re interested in buying Ripple in the UK, Plus500 is a CFD site that will allow you to purchase your cryptocurrency without owning it or storing it in your wallet. Our best way of buying Ripple is through Plus500. To give it a try, go to the Plus500 site and set up your account.

Click the blue “Start Trading Now” button on the main page.

How to create UK Plus500 account

One cool feature of the Plus500 site is being able to choose between Demo Mode and Real Money. You don’t have to use your own money to get a feel for how the site works and get comfortable with these contracts. You can also download the mobile app from these pages so you can use Plus500 on your smartphone.

How to create real money account on Plus500

For our walkthrough, we’ll use Real Money so you can see what happens in a live CFD situation.

You’ll be prompted to register for Plus500 and fill out the form. It requires your email address and password creation. You can also register an account using your Google or Facebook information if you prefer. When you’re done entering this information, click on the “Create Account” button.

How to create account on Plus500?

Plus500 requires that you submit some personal information and documents to verify your identity. Most exchanges require this information, so there’s no need to panic or question its credibility. Your account will be secure.

How to verify on Plus500

Depositing Funds and Buying Ripple

After activating your account, you can deposit your GBP into your Plus500 account. You will have the option to use your credit or debit card, PayPal, Skrill, or a wire transfer.

How to deposit on Plus500

When your GBP populates in your account, you’re ready to go. Click “Trade” on the left and choose “Cryptocurrencies.” You will be able to see a list of all of the CFD cryptocurrencies available.

Plus500 gives you an excellent way to buy Ripple in the UK with simple processes and easy interfaces. You can purchase many different types of crypto CFDs from the same account all at once.

Now all you have to do is click “Buy” next to the Ripple you want. Plus500 will prompt you to enter the parameters you want for your CFD. You can enter the amount of Ripple you want to purchase and choose how you want the contract to close. Most people want to close at a gain, but you can also choose to close at a loss.

As you become comfortable with the platform, you can explore advanced options for buying and closing. Once you’re done entering these preferences, click “Buy.”

How to buy Ripple XRP on Plus500

You will receive an alert when your order has been filled that shows your position including your profit or loss, funds you still have available to trade, and your margin. When you’re comfortable closing your contract, simply click the “Close” button.

How to sell Ripple XRP on Plus500


How to Buy Ripple with Coinmama

Currently, Coinmama is only available via the web as it does not offer a mobile option. To get started using Coinmama to buy Ripple in the UK, head on over to the site. In the top right of the Coinmama homepage is a button that says “Sign Up.” Click on that to begin registration.

How to signup to Coinmama

On the next screen is a form you’ll need to fill out to create your account. Fill in your email address, choose a password, and fill in the rest of the form. Once you’re done, submit your information and wait for the confirmation email from Coinmama.

How to create a Coinmama account

To continue, fill out the personal information Coinmama wants. This is some basic data the exchange wants to have to protect its site. This is nothing to worry about as most sites request this type of information about their customers.

Coinmama registration form

 

When you have that info filled in, Coinmama will ask for documentation to validate your identity. The site will want government-issued identification for their Know-Your-Customer process. These are typically a driver’s license or passport.

Coinmama usually gets your documents processed in a few hours, so you don’t have to wait very long before you can start buying Ripple.

Purchasing Ripple

Coinmama doesn’t store your credit or debit card information on the site, so you don’t have to worry about waiting for funds to deposit when you’re ready to buy Ripple. Instead, you click on the “Buy” button in the banner at the top right, then select “XRP”, since you want to buy Ripple. You’ll also want to click on EUR since you’re buying Ripple in the UK.

Enter how much Ripple you want to buy, or how much EUR you want to pay. Next, Coinmama will want your wallet address. This is the address of an offsite cryptocurrency wallet where your Ripple will go once you purchase it. Enter your wallet information, then fill in your debit or credit card info to complete the transaction.

How to buy Ripple XRP on Coinmama

 

After the payment completes, the transaction goes through processing and soon you’ll see Ripple in your crypto wallet. Coinmama does have a minimum purchase amount, so you’ll have to make sure you enter at least that much before you can move forward with buying Ripple.

One drawback to Coinmama is that it doesn’t provide a wallet on its site as many other exchanges do. That means when you make your purchase, you’ll have to have a wallet already created to receive your Ripple. It’s an additional step that most exchanges don’t have, so keep that in mind when you get ready to buy Ripple on Coinmama.


More About Ripple XRP

Ripple XRP logo

Ripple is the name of the cryptocurrency, but it’s also the name of the payment network. Ripple cryptocurrency is decentralized and the goal is for it to be easily distributed using these platforms. These platforms focus on Ripple’s payment network.

Ripple Leadership

Ripple has offices all over the world, making it a worldwide company. Office locations include Sydney, India, London, Singapore, Luxembourg, San Francisco, and New York. Ripple leadership has strong experience in many industries including finance, technology, and compliance.

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

Who Is Ripple For?

You may be surprised to know that Ripple does not consider itself a competitor of Bitcoin. Instead, Ripple is a perfect platform for beginners who already know a little bit about cryptocurrency and want to complement their portfolio with additional digital currencies.

Ripple systems are designed to give users a way to move any type of currency via a decentralized ledger. You can move Bitcoin, Ethereum, GBP, USD, or EUR with Ripple. Their systems want to be the primary source of transferring and exchanging currencies.

The Ripple platform can also support large businesses and financial institutions. It’s a dependable way for individuals and companies to transfer money across borders at any time without the same transfer fees of traditional banks.

In addition, Ripple’s payment processing system can offer faster transfers and transaction speeds. At less than four seconds, you’ll not only pay less but see your money move more quickly.

Pros and Cons of Ripple

Pros

Ripple and other cryptocurrencies are doing what they can to steer a massive banking ship away from large financial institutions and into the blockchain. They offer a more efficient solution to an industry that has been lagging behind for a while. Usage of Ripple continues to grow for this reason.

Ripple can confirm your transaction quickly, which gives it an advantage over other cryptocurrencies like Bitcoin. It continues to grab hold of traction in the market and is gaining adoption steadily. In terms of market cap, Ripple is consistently in the top five, if not the top three of all cryptocurrencies.

Cons

Early on, Ripple focused on banks, which turned away some of the crypto community who were into crypto specifically to move away from traditional banking systems. The company also still owns a 60% stake in itself, meaning a large majority of it is not owned by the public. Even if you own a lot of Ripple, you won’t own any advantage in a sell-off situation.

Because Ripple is already pre-mined, there’s no reason for nodes on the network to be active, so it requires validation from banks and other financial institutions. Since there are only a few active nodes on the network, it’s not truly decentralized like other cryptocurrencies.

Many digital currencies look promising, but they’re all susceptible to risks, and Ripple is no different. You should only invest money in Ripple if you can afford to lose it.

Is Ripple a Good Investment?

We can’t predict Ripple’s future performance, so when it comes to deciding whether or not it’s a good investment, you’ll have to rely on the information currently available. Here are a few points to take under consideration as you make your decision:

  • XRP can be purchased on most cryptocurrency exchanges
  • Ripple is not as risky as smaller coins since it ranks in the top five of cryptocurrency coin market capitalization
  • Easy to buy, sell, and trade
  • Has the support of many payment providers and financial institutions
  • Ripplenet is used by people from around the world and has turned into a lucrative network
  • Coins like Stellar could provide pressure toward Ripple

Cryptocurrency is a volatile industry, and as an asset class comes with certain risks. As you weigh your options on investing in Ripple, remember that the market is capable of highs and lows at a moment’s notice. To see more about Ripple analytics, head on 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 in the UK such as Bitcoin and Ethereum.

Further Reading At TotalCrypto.io
1) Want To Learn More About Ripple Before Taking The Plunge? Read Our Ripple XRP Guide.

2) Having Issues Setting Up Plus500? Our Plus500 Guide Tells You Everything You Need To Know.

3) Things Are Busy In The UK. Learn About Scalping & How This Fast Trading Strategy Could Benefit You.

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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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