Posts Tagged ‘How to Buy XRP’

How to Buy Ripple (XRP) With Coinbase

Posted on: December 30th, 2017 by jms No Comments

Ripple (XRP) has been on a hot streak recently and it is now claimed the number 2 spot for total cryptocurrency market capitalization, right under Bitcoin.

 

With all the hype and high growth surrounding XRP I’ve been trying to get in on the action but it hasn’t been smooth due to all of the identity verification requirements for the top exchanges that offer XRP. While identity verification is obviously a legitimate requirement, I’ve been waiting for both Kraken and Bitstamp to process my verification documents for over 2 weeks. I understand that there’s some lag time to be expected, but 2 weeks seems very long.

 

With the recent rumors about Coinbase potentially offering XRP in 2018, and with the news about a few big Japanese credit card companies signing up with Ripple, I decided I can’t wait around while XRP continues to rise. If Coinbase does decide to offer XRP, it’s price will likely jump, but by that time it’ll probably be priced high and the opportunity to get in early will be gone. So I started looking for other ways to get my hands on XRP without putting my investment at risk through shady or less secure alternatives to a reputable exchange, and I finally figured it out.

 

It is possible to transfer various cryptocurrencies between wallets using an app/service called Evercoin. This app basically acts as an instant escrow service for transferring altcoins and they support XRP as long as you have a wallet to transfer to, and setting up a free and secure XRP wallet is easy using an app called Toast Wallet.

 

Here are the steps necessary to acquire XRP using Coinbase, Evercoin, and Toast Wallet…

 

1) If you don’t already have an account with Coinbase, create one. Make sure you fund the account or have a balance of either Bitcoin, Ethereum, or Litecoin. Note: you can use any other exchange or Bitcoin wallet, it doesn’t have to be Coinbase, but Coinbase is what I would recommend for simplicity and efficiency.

 

2) Download the Toast Wallet app and set up a free XRP wallet. Note: all XRP wallets require a minimum of 20 XRP to become active, so you will see your Toast Wallet show your new XRP wallet as inactive until it’s funded with at least 20 XRP. This is a Ripple platform requirement.

 

3) Download the Evercoin app and follow the steps to transfer either Bitcoin, Ethereum, or Litecoin to your XRP wallet. Note: due to the recent high valume of XRP trading you may have to wait for Evercoin to have enough XRP in reserve. I had to wait about an hour before I saw XRP appear as an option on Evercoin.

 

4) Sit back and watch your new XRP grow, and if/when it does become available on Coinbase, I’m sure you’ll be able to transfer your XRP to Coinbase at that time.

 

Heres a good step-by-step tutorial provided by Evercoin… https://blog.evercoin.com/how-coinbase-users-can-buy-ripple-xrp-on-your-phone-b217766d2973