Ripple (XRP) is one of the most popular cryptocurrencies that uses blockchain to facilitate fast and cheap transactions for users globally. It falls among the top 10 crypto assets by market capitalisation, making it an attractive asset for many investors. If you want to invest in Ripple, this guide takes you through everything you need to know. Remember, losses are inevitable in any investment. Therefore, ensure you fully understand the information below to maximise your chances of earning profits in Ripple investments.
In this guide
Brokers for Buying Ripple Shares
Ripple is a private company, meaning its shares are not publicly traded. However, you can have access to the company’s shares through private investors on the secondary market. If you want to buy the shares of Ripple through private investors, you need a stock broker that allows access to the exchanges listing those Ripple shares. It is also crucial to find a broker allowing you to purchase XRP cryptocurrency and take full ownership or trade the asset as CFDs.
Note that there are numerous stock brokers in the UK that also allow cryptocurrency purchases and trading. To ensure you find the best that meets your investment or trading needs, you must conduct a thorough research by testing and comparing as many brokers as possible. Since the research process can be lengthy, we simplify things by listing below the top brokers based on our experts’ recommendations.
1. eToro
Whether you are a beginner or an experienced cryptocurrency investor looking to invest in Ripple, eToro is an excellent stock broker to consider. Not only is it user-friendly, but it also hosts adequate resources to give users the best experience. In addition, eToro has plenty of learning resources to boost your skill level with. All you need is a minimum deposit of $100 after registering for an investment account to get started. Regarding fees, stock investment is commission free but expect to pay a relatively high spread when trading the asset as CFD.
Besides allowing you to invest in Ripple shares, users can benefit from eToro by purchasing and taking full ownership of the asset. In addition, investors can explore additional cryptocurrencies the broker hosts, including Bitcoin, Ethereum, Litecoin, etc., to identify the best options for portfolio diversification.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
✔Low minimum to fund an account and begin investing
2. IG Markets
IG Markets is a pioneer broker that continues to adjust with the advancing technology to ensure users get the best experience. Unfortunately, you cannot use IG Markets to purchase XRP and take complete ownership since the broker only allows CFD trading. This means you can still take CFD positions on Ripple shares and the asset to make profits. Moreover, IG Markets offers additional cryptocurrencies and assets for portfolio diversification. Simply test it via its virtually funded demo account to ensure it suits your CFD trading requirements.
Keep in mind that IG Markets has relatively high CFD trading fees and a minimum deposit requirement, making it unsuitable for budget-conscious traders. For experienced traders, rest assured of quality resources and advanced platforms, including MT4, ProRealTime, and L-2 Dealer. On top of that, IG Markets hosts an IG Academy platform loaded with learning resources for newbies. You can also explore its social trading platform to meet like-minded traders who might help in acquiring different trading ideas.
✔ Leading broker with low fees
How to Buy Ripple Shares With eToro
Now that you are familiar with the top brokers for investing in the shares of Ripple, we will take you through the procedures for buying the company’s shares. Note that all our recommended stock brokers above are regulated by the Financial Conduct Authority (FCA), and the process involved is the same. We will use eToro as an example for better understanding.
You need an investment account with eToro to access Ripple shares for purchase. In this regard, visit the broker’s website to complete the account registration process. Note that you can click any of the eToro’s links on this page for quick access or simply google the broker and visit its website. Remember, eToro has terms and conditions that you must read and accept before signing up for an investment account. In addition, it has a reliable mobile app that operates seamlessly on all mobile devices. Therefore, ensure you install it on your mobile device to be able to invest on the go.
In this procedure, you will provide your personal details as required by the broker to sign up for an investment account. These include your name, email address, phone number, location, source of income, etc. In addition, you will have to create a username and password to secure your investment account.
It is a standard procedure for all FCA-regulated brokers to verify investors’ identities to have their accounts fully approved. In this regard, eToro will require you to verify your identity and location. The protocol helps safeguard trading platforms and keep fraudulent investors away. As a result, you get to enjoy the best investment environment under favourable conditions. During this procedure, eToro will request you to share a copy of your ID card, passport, or driving license and a utility bill or bank statement, respectively.
After your investment account has been approved, you will receive an email notification. You are now free to make a deposit and start your investment ventures. As mentioned earlier, eToro has a minimum deposit requirement of $100, so you should make this deposit to access Ripple. The good news is that there are no deposit fees*, and you can make the deposit using various payment methods, including debit cards, bank transfers, etc.
*A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Now that you have made your deposit, eToro will give you access to Ripple. Regardless of how you want to invest in the cryptocurrency, ensure you understand the trading method for maximum profit potential. For instance, if you want to invest in Ripple shares, conduct the necessary due diligence and create the best strategy.
Tips on How to Choose the Best Stock Broker to Buy Ripple Shares
Our recommended stock brokers above for investing in Ripple in the UK will help you get started on a good note. However, should you decide to overlook our recommendations and conduct research on your own, various factors must be considered in your research. Below are the essential tips we also look into during our research for the best brokers in the UK.
Your investment funds’ security should be paramount when looking for the best Ripple broker. In this regard, you must settle for a broker that is licensed and regulated by the FCA. Using such Ripple stock brokers is legal, and you can take legal actions against them in case of conflicts. Moreover, FCA-regulated brokers offer the best investment conditions for a worthwhile experience.
Another element to look for in a Ripple Broker is the availability of investment assets. Besides Ripple, ensure there are additional assets to try in case you want to explore a new market. These include other cryptocurrencies, forex, stocks, commodities, etc. You should also consider diversifying your investment portfolio to minimise losses.
You need to ask yourself how reliable a broker is regarding platform performance and availability of investment resources. Also, find a broker with a demo account so that you can test it out before investing your hard-earned money. On top of that, it should have a trading app and dedicated support service to help you manage investment challenges as they arise.
We usually advise investors to have an investment budget to avoid spending a lot of money. With a budget, you can easily find a Ripple broker that you can afford. Confirm the minimum deposit requirements and charges, including commissions, spreads, inactivity fees, overnight charges, transaction costs, etc.
Ripple investors should review user recommendations on Google Play, Trustpilot, and the App Store to fully understand a broker’s strengths and weaknesses. The last thing you want is to choose a broker and discover that some of its features inconvenience your activities.
Ripple (XRP) Shares Price Today
Ripple shares price fluctuates due to demand and supply. As an investor, it is crucial to stay abreast with the asset’s current value to easily strategise and identify the best entry and exit points. Since Ripple is a volatile asset, we simplify things for you by including a live chart below indicating Ripple’s current share price. Using this chart, you can also get the asset’s historical data to create solid strategies to maximise your profit potential.
About Ripple
Launched in 2012, Ripple is a blockchain technology company located in the US. The company serves the financial services industry by delivering transactions in seconds that are also cheaper. Ripple has its own token (XRP), which acts as a bridge currency and is expected to guarantee liquidity. So far, Ripple token’s popularity has grown exponentially and it is ranked among the top 10 cryptocurrencies by market capitalisation.
Based on information from Ripple’s official website, the company continues to assist many businesses globally in streamlining their transactions. By converting their funds into XRP, transactions have become faster regardless of where you send money globally. Simply put, businesses using the Ripple protocol can now save on transaction costs. Because of its quality services in the financial industry, the company continues to attract all types of investors willing to invest directly in Ripple or its native currency XRP.
Note that Ripple is a private company, and its shares are not publicly listed on stock exchanges for purchase. This only leaves you with the option of investing in companies (private investors) directly connected to Ripple. Furthermore, you can purchase the token XRP or trade it as CFD using a credible cryptocurrency broker like the ones listed in our mini reviews above.
FAQs
Yes. Ripple is one of the most popular cryptocurrencies to invest in today. However, predicting its future performance can be risky given the uncertainty around Ripple with the ongoing SEC lawsuit against the company. If vindicated, Ripple investment can earn investors huge profits, so we advise you to conduct additional research on the asset before making an investment.
Ripple is the company behind Ripple (XRP) cryptocurrency. It is a money transfer network tailored to streamline transactions in the financial industry globally. As an investor, you can invest in Ripple stock through secondary investors, purchase its native currency, or trade the asset as CFDs. All you need is a complete understanding of Ripple and a suitable broker with features ideal for your investment needs to get started.
Yes. Given Ripple’s benefits to the financial industry, investing in the asset in 2024 can be an excellent decision. Simply ensure you conduct further research on the asset to decide whether you want to purchase the asset, invest in its shares, or trade it as CFDs. You should also find the best stock or cryptocurrency broker like the ones we recommend above.
Ripple is not a publicly-traded company, and you can only access its shares via private investors in the secondary market. Before investing in a company connected to Ripple, conduct the necessary due diligence to select the one with growth potential. Also, find a stock broker with access to the exchange where the company’s stocks are listed for purchase.
No. Unfortunately, you cannot purchase Ripple in Robinhood since the broker does not list the asset for purchase. The good news is that there are numerous crypto exchanges and brokers listing the asset for purchase or trading. To help you get started, we list the top brokers above to consider.
The best way to buy Ripple is through a cryptocurrency broker or exchange listing the asset. With many crypto brokers in the UK, conduct thorough market research by considering our tips above. Alternatively, compare the features of our recommended stock brokers above to select the best.
Conclusion
Predicting Ripple’s future is challenging, especially now that the company is going through a lawsuit filed against it by SEC. However, this shouldn’t be a determining factor since investing in the company can be profitable in the long run. Since all investments are risky, we advise you to conduct research on Ripple before investing your money. Most importantly, learn how to analyse Ripple’s value and performance to create solid strategies. If you are a beginner, start small, and invest with money you are comfortable losing.
