How to Buy Ripple and Place a Bet – Beginner’s Guide
On this page, Bookmaker Ratings tells you how to buy Ripple cryptocurrency. You will also learn which methods are more convenient for players when purchasing XRP, which tools can be used to store Ripple safely, transfers between wallets, betting on XRP, and other useful nuances.
Ways to Acquire Ripple
Today, crypto holders can buy XRP currency in the following ways:
- through a crypto exchange,
- in OTC markets or in P2P trading,
- through the exchanges.
The very first method is characterized by a less favorable rate but rather high reliability – if you use the services of top exchangers, such as Bestchange. Transactions are carried out quite quickly; choosing an exchange option for yourself with many positive reviews is important.
The OTC market offers an even lower rate than exchangers. The probability of falling into the hands of a scammer is also high. So when conducting transactions, use the services of a guarantor for a symbolic commission.
P2P trading is a symbiosis of an exchanger and OTC. A slightly less pleasant course than on the stock exchange, but the high reliability of the transaction is the key basis for operations in this way.
It is safer and more profitable to buy Ripple on an exchange since the rate here is the highest and most relevant. And below, we will tell you how the transaction for acquiring XRP in this way goes.
How to Buy on the Exchange?
To buy Ripple on the exchange, you need to do the following (for this example, we are using the Bybit exchange):
Step 1: Go to the Bybit website and click the “Register” button.
Step 2: Enter the required data and confirm the creation of an account.
Step 3: Verify and then log in.
Step 4: Click the “Buy Cryptocurrency” button, and choose the most convenient way (for example, via P2P or one-click purchase).
Step 5: Confirm the purchase by entering the required codes and wait for crediting!
Where to Store Ripple?
Ripple holders can keep their assets in different ways. The most common among them are:
- Hardware wallets,
- Cold wallet,
- Exchange accounts.
A hardware wallet is one of the most secure options out there. It is a small adapter that stores private keys in electronic format. A cold wallet is usually presented as a PC that has never been connected to the internet. This method is not inferior to a hardware wallet in terms of security.
You can also store funds on the exchange, but it is worth remembering that with this storage method, your assets formally belong not to you but the exchange. There have also been cases in which exchange accounts have been hacked – not the safest option.
Browser wallets are less secure on this list, but they are quite suitable for small amounts of assets. The browser wallet has protection in the form of a seed phrase or a private key. You can also connect two-factor authentication or unlock the profile with biometrics (fingerprint, for example).
Download and Install Metamask
Metamask is the most popular wallet for storing cryptocurrency among browser counterparts. You can download it on the official Metamask.io website. First, you will need to select the browser version, after which the download will begin.
After downloading, the downloaded file will be automatically unpacked, after which a new icon will appear in the top toolbar of the browser – the muzzle of a red fox. By clicking it, you can create a wallet in Metamask, write down a seed phrase, assign a password, and then open and close your wallet with one click on this icon.
Transferring Funds to a Wallet
So, you have now bought tokens on the exchange and opened a Metamask wallet. Now it remains to understand how to transfer these funds from the exchange. To do this, do the following:
Step 1: Go to the exchange website, log in to the system, click the “Assets” button, and select “Spot”.
Step 2: Next, find the Ripple coin (XRP) and click “Withdraw”.
Step 3: In Metamask, copy your wallet address. Pay attention to the wallet network.
Step 4: Now, on the exchange, insert the wallet address and specify the type of network (the same as in Metamask). Then it remains to specify the amount and continue the operation.
Step 5: Confirm the transfer by entering codes and wait for credit to appear on your account.
How to Place a Bet?
Nowadays, there are many sportsbooks that accept Ripple. How to find these sportsbooks? We have already done that. We have compiled all TOP online bookmakers that accept XRP. Go to our “5 Best XRP Sportsbooks & Crypto Betting Sites 2022” to learn more.
Ripple cryptocurrency can be purchased on an exchange, through exchangers, on the OTC market, or using P2P. You can store assets on hardware, cold, browser, or exchange wallets. Each investor has the opportunity to transfer funds from one of his wallets to another. To place a bet, it is important for you to first register with a bookmaker that accepts cryptocurrency, then make a deposit and place a bet on the desired pre-match or live event.
Is it possible to buy Ripple in small amounts?
Yes, exchangers and exchanges do not limit users in the amount of purchase of Ripple – you can buy both large and small amounts.
Where can you store Ripple?
The XRP crypto asset can be stored in browser wallets, cold wallets, and hardware wallets and on a verified account in a crypto exchange.
Where to buy Ripple?
You can buy XRP through OTC markets, P2P trading, and exchanges and exchangers.
What is the safest way to store Ripple?
The most reliable way to store Ripple tokens is to use a hardware or cold wallet.
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