Below, we highlight a step-by-step guide on how you can use Uphold to purchase your first XRP coins. Despite XRP’s popular reputation within the cryptocurrency space, it’s surprising that few US-based exchanges support it thanks to its ongoing legal battle with the SEC. And the company’s particular legal issues add another set of factors for potential investors to consider. That said, XRP, created in 2012, is one of the most established digital assets, and it has one of the highest market capitalizations in the crypto world — around $40 billion in mid-July.
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- XRP can be purchased from centralized cryptocurrency exchanges, peer-to-peer (P2P) services, decentralized finance (DeFi) platforms, cryptocurrency ATMs, payment processors, and mobile wallets.
- XRP, also known as Ripple, is a digital asset and technology created by Ripple Labs.
- Always make sure to do your due diligence before deciding on any particular platform.
- In the next section of this guide, we will discuss the process of completing identity verification to comply with KYC and AML regulations when buying XRP in New York.
- Technically speaking, then, XRP isn’t Ripple, though the terms are often used interchangeably.
If you are fairly new to cryptocurrencies you might still be struggling with the concept of private key and why it’s so important. Perhaps you just get into cryptocurrency by purchasing coins on an exchange platform but didn’t even realize that they hold the private keys to your cryptocurrency. News and World Report, covering personal finance, financial advisors, credit cards, retirement, investing, health and wellness and more. She founded The Detroit Writing Room and New York Writing Room to offer writing coaching and workshops for entrepreneurs, professionals and writers of all experience levels. Her work has been published in The New York Times, USA TODAY, Boston Globe, CNN.com, Huffington Post, and Detroit publications.
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- A XRP wallet helps you protect your private key, not just storing your XRP.
- XRP is an open-source cryptocurrency project created by the private firm Ripple.
- The box highlighted below the credit card box shows the available crypto networks from which you can transfer digital assets to Uphold.
- On the top banner of the platform, click the ‘Buy Crypto’ button, and select a payment currency and payment method.
- Nvidia (NVDA), for example, is a manufacturer of graphics processing units that cryptocurrency miners use.
- Blueprint does not include all companies, products or offers that may be available to you within the market.
Investors can also buy, sell or trade the asset for a profit (i.e., speculate on its value). Next, click the [To] field to specify which asset you intend to purchase. You can use the search box to search for XRP or click the [Cryptocurrencies] filter just below the search box, then select XRP from the list. An investment strategy is essential for every investor, whether you are investing in precious metals, stocks, early-stage companies, or even crypto. An investment plan helps you decide what you will buy, how often, and the quantity of that asset to buy.
What Is XRP and How Does It Differ From Ripple?
The XRP Ledger is decentralized, with a global network of 100+ validators. Use XRP as a more accessible alternative to traditional banking and to move different currencies around the world. “Despite a positive legal ruling within the U.S., the combination of a bear market and wider crypto regulatory uncertainty still looms large over the sector. The price of XRP will likely continue to move as BTC does for the foreseeable future,” Stadelmann said.
Why Ripple uses XRP and XRP Ledger
During this period, its market cap surged to $33.6 billion, reflecting strong recovery and growth amid a broader market rally. Investors are eagerly awaiting definitive news about XRP’s regulatory status. The upcoming how to buy xrp closed meeting on July 25 has sparked significant speculation within the crypto community. However, Marc Fagel has clarified that such meetings are routine and not necessarily indicative of settlement discussions.
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KuCoin is a Singapore-based, highly regulated crypto exchange with operations covering close to 200 countries. The exchange offers trading, brokerage, staking, hot storage, lending, and early-stage project investment to its more than ten million users, and one of its supported digital assets is XRP. Uphold is a New York-based multi-asset company with cryptocurrency as one of its supported products. There are more than seventy cryptocurrencies available for purchase on its platform, and XRP is one of them.
