With the New York Court’s decision on the 13th of July, XRP IS NOT A SECURITY. Now that the court has ruled this in the Ripple vs SEC case, XRP has become the most traded token around the world. With the green light from the judicial system and looking at the growing popularity of XRP, Coinbase has also decided to relist it for trading.
Since the last three years, Ripple has been surrounded by controversies after the Gary Gensler led Securities and Exchange Commission (SEC) decided to strong arm the Securities tag on the decentralized XRP token.
If you want to join the bandwagon and buy XRP and add it to your portfolio, this how to buy XRP guide will help you do just that with simple steps.
Step 1: Create a Coinbase Account
You can create a Coinbase account by visiting the Coinbase website or downloading the Coinbase app. You will need to provide your name, email address, and phone number. You will also need to verify your identity by providing a government-issued ID.
Step 2: Add a Payment Method
Tap on the payment method box and link a bank account or payment method to your Coinbase account before you can buy XRP. You can link a debit card, credit card, bank account, or initiate a wire.
Step 3: Start a Trade
Once you have linked a bank account or payment method, you can buy XRP by following these steps:
- Go to the Buy/Sell page on Coinbase.
- Select XRP from the list of cryptocurrencies.
- Enter the amount of XRP you want to buy.
- Click Buy.
Step 4: Finalize your Purchase of XRP
Once you Tap “Preview Buy,” you’ll be shown the details of your purchase. Make sure everything looks good, and then confirm your purchase by clicking “Buy now”.
Step 5: DONE
You’ll be directed to the confirmation screen after the order has been processed. You have successfully purchased XRP.
Also Read: Ripple (XRP) Price Soars Nearly 100% Amid SEC Victory
FAQs
1. Can I buy XRP on Coinbase?
Yes, XRP is currently available to buy on Coinbase’s centralized exchange. It was delisted due to a case against Ripple Labs by the SEC, but the court has favored the ruling on XRP’s side, stating it’s not a security.
2. Can I buy XRP with cash?
No, but you can buy XRP on Coinbase with an approved payment method, including a bank account, a debit card, or a wire transfer.
3. How do I buy XRP with a gift card?
You can use digital gift cards purchased from online merchants to redeem them on Coinbase accounts to buy XRP. Gift Cards are available only in the United States.
4. How much is the fee to buy XRP?
Coinbase charges minimal fees to buy XRP. Fees are variable, as they are calculated at the time you place your order. Fees for buying XRP will be listed in the trade preview screen before you submit your transaction and may differ for similar transactions.
5. How are Fees to Buy XRP calculated?
Fees on Coinbase are determined by a combination of factors, including but not limited to your location, the selected payment, the size of the order, and market conditions such as volatility and liquidity.
