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How to Buy Ripple with a Credit Card

Ripple (XRP) is an altcoin initially developed as a way for banks, lenders and other financial institutions to quickly send money across country lines without excess fees or waiting times. Here’s how you can buy it with a credit card.

Ripple: a quick overview

The currency used by companies like Santander and UniCredit, Ripple is the third-most popular cryptocurrency available on the market, trailing only Bitcoin and Ethereum in total holdings.

Ripple has consistently appreciated in value, rising from USD $0.00864 in mid-2015 to approximately USD $0.474 in October of 2018. If you’re a cryptocurrency enthusiast, Ripple can add an excellent level of centralized diversification to your wallet.

Watch this video to see how it works.

Benefits of buying Ripple

Ripple currently offers a number of benefits over Bitcoin and competing altcoins:

A practical (and legal) use

There is a persistent public stigma against cryptocurrencies as a legitimate form of currency thanks to the anonymous nature of transactions. JP Morgan CEO Jamie Dimon once famously called Bitcoin a “fraud” used only by drug dealers and North Koreans.

Unlike Bitcoin, Ripple already has an implemented and legal usage—the cryptocurrency is currently being used by companies like Seagate, CME Ventures, and Core Innovation Capital as an instant way to transfer money between currencies and fund payments on demand.

A blockchain network that isn’t decentralized

Unlike Bitcoin, Ripple is not a decentralized network—it uses a central network of nodes to deliver payments. This makes payments easier to track, thus decreasing the possibility of losing money to a scam or hacked wallet.

A board of directors focused on expanding

Though Ripple’s central office is headquartered in San Francisco, the company has offices in New York, London, and Sydney. Ripple recently unveiled its new partnership with SBI Ripple Asia to serve Asian customers, and the company continues to focus on expanding to financial institutions around the world.

How to buy Ripple

Step 1: Create a Ripple wallet

Though there’s nothing stopping you from holding your Ripple in your cryptocurrency exchange account if you typically using Binance or EXMO, this is generally considered to be a less-safe option than storing Ripple in an encoded wallet.

You can download an offline wallet like Exarpy Wallet or a mobile wallet like Toast Wallet to store your coins when you are not trading. This will protect your Ripple holdings in the event that your exchange service of choice suffers a data breach.

Step 2: Create an account with Changelly

One of the easiest ways to buy Ripple using a credit card is through Changelly, a popular cryptocurrency exchange site. To start on Changelly, create an account by visiting its website and click on the “Sign Up” button on the top right-hand corner of the screen. You’ll need a valid email address to create an account. There is no fee or minimum balance needed to maintain an account with Changelly.

Step 3: Initiate a buy

After you’ve successfully logged into your Changelly account, you can visit the homepage of Changelly to initiate a buy. Click on the dropdown menu labeled “BTC” as a default and select “USD.” Then, under the tab titled “You Get,” click on the dropdown menu and select the ticker for Ripple, XRP.

Changelly will instantly show you the number of Ripple you’ll receive in your wallet following the completion of the transaction. Double-check that the information you’ve entered is correct and click on the green arrow labeled “Exchange!” If you’re already logged in, you’ll be directly transferred to the next step in the transfer. If you’re not logged in, you will first be redirected to a Changelly login page.

Step 4: Enter your Ripple wallet address

Next, you’ll be asked to specify your wallet’s address so Changelly can send the Ripple to the right person. Open your wallet and search for your address—this should be a long string of randomized numbers and letters. Copy your wallet address and paste it into the slot labeled “XRP Address” on the Changelly exchange page.

You may also see a slot beneath the address line asking for a “Destination tag.” Some wallets include a destination tag for an added layer of protection. Double-check your wallet’s address and include your destination tag if relevant. If you do not have a destination tag, simply click “Remove destination tag” and click the green arrow labeled “Next.”

Step 5: Enter your credit card information

After you’ve confirmed your transaction, you’ll be asked to enter your credit card information to complete the buy. Changelly currently accepts Visa and Mastercard as payment methods.

Click on the green arrow labeled “Pay with Visa/Mastercard” and enter your card details. Remember to always complete your transactions using only secured wifi. When you’re finished, click “Next.”

Step 6: Confirm your payment via phone

Next, you’ll be asked to enter your phone number. The phone number supplied must be associated with the Visa or Mastercard you used to purchase the Ripple in step 5.

Enter your phone number, and you’ll receive an automated phone call shortly reciting a 4-digit code you’ll need to enter to confirm your payment. If you do not receive the call, you can also verify your payment using your passport. Contact Changelly customer support if you’d like to use this method of verification.

Step 7: Check your Ripple wallet to ensure you’ve received the funds

After you’ve confirmed your phone number and verified your purchase, Changelly will issue your Ripple and send your purchase to the wallet address indicated in step 4. Depending on the number of users currently buying through Changelly, it can take anywhere from a few seconds to a full hour for your Ripple to appear in your wallet. Check back in on your wallet to ensure that your Ripple have been delivered safely.

Final thoughts

Despite the appeal of Ripple’s centralized platform, the value of all cryptocurrencies can change at a moment’s notice. Keeping up to date on Ripple movements and news can help cryptocurrency investors make the most out of the coins held in their wallets.

Check out Benzinga’s Ripple newsfeed for the latest in Ripple happenings, or consider adding another coin to your collection with Benzinga’s list of other cryptocurrencies currently poised for appreciation in the coming year.

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