Mariela is a former investment banking analyst and has been a cryptocurrency writer with LeapRate and Asktraders for the past two years
For the best UK exchanges for ripple – where to sell / buy in UK or how to go about it, top traders and investors need to engage in crypto broker comparison and make their choice. It’s not enough to know crypto trading strategies. Choosing the best crypto broker is equally important. Registering for an account with exchanges like IG, eToro, Plus500, Coinbase or Coindirect among others, Ripple traders need to be aware that XRP is profitable yet volatile. Ripple is listed on a wide range of exchanges. You need to find an exchange that offers desired XRP pairings.
When it comes to Ripple – where to sell / buy in UK, while some exchanges permit trading straight away, others insist on a KYC. The latter is preferable, even though it is time consuming because increased security is very important while trading Ripple.
Most cryptocurrency exchanges don’t permit the exchange of fiat currencies like GBP for XRP. GBP is, therefore, used to acquire a cryptocurrency listed as part of a currency pairing with Ripple like BTC or ETH and then exchange these for XRP.
While XRP was launched in 2012 by Ripple Labs, it sought to provide an enterprise-level blockchain solution for global payments. For example, RippleNet connects banks, payment providers, corporate entities and digital-asset exchanges for payments in real time. Cryptocurrencies like XRP are known for being speculative and complex. So, choosing the right exchange is important.
Coinbase is one of the easiest and fastest exchanges for trading Ripple. Coinbase permits credit card purchases of Ripple with USD. Coinbase is available in the US, EU, UK, Canada, Singapore and Australia. Once there are bitcoins or ETH in your possession, you can even use exchanges like Binance to convert BTC to XRP in under 10 minutes. Binance is a great exchange for Ripple since it offers excellent volumes. Austria-based BitPanda is another good option. This crypto brokerage service permits UK traders and investors to buy Ripple directly through Skrill, Neteller, bank accounts or credit cards.
BitPanda supports the direct purchase of Ripple, which means that ETH or BTC does not have to be sent to another exchange to buy Ripple. Another good choice is CoinMama. It allows buyers to purchase BTC, ETH or Litecoin with credit cards from any nation. Once bitcoins or Ethereum are in possession, these can be converted to XRP using exchanges like Binance. For some UK buyers, buying bitcoins or Ethereum with a bank account using Coinbase or another service can be a good first step to buy XRP. If you want to buy Ripple directly with a bank account, BitPanda permits UK buyers to make the purchase directly using SOFORT, NETELLER or SEPA transfer.
ETX Capital is among the best CFD exchanges for the cryptocurrency. Its tight spreads can reduce trading costs.
Guaranteed stops help in reducing risk while trailing stops are in place for profits to be locked in. Commission-free spread betting with tax benefits, experienced dealers, a wide range of order types, quality platforms, hedging facilities, automated trading and API access, event-based analysis and demo accounts are some of the other benefits of this broker. One of the oldest cryptocurrency brokers in the UK, ETX was founded as Monecor in the 1960s. Plus500 Ltd is listed on the Main Market of the London Stock Exchange. ETX was also the first of the brokers to offer Bitcoin, but relaunched as CME futures, making it easy and safe for cryptocurrency brokers for hedging exposure.
At Plus500, an investor can trade CFDs on Ripple. Plus500 Ltd is listed on the Main Market of the London Stock Exchange. Market cap is over 1 billion USD from 2017 onwards. A trader with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Commodities, Options, Indices and different crypto currencies.
For a social trading network exchange, look no further than eToro. It offers CFDs, is FCA registered and trades in not just Ripple, but also ETH and BTC. This exchange spans 15000+ markets. One of the most rapidly expanding cryptocurrency brokers, this social trading network was known as Retail FX when it was founded in 2006. There are millions of traders ranking in leagues around the world. The eToro site has over 4,500 thousand registered traders. Apart from being a leading CFD broker for forex and equities, bitcoin and Ripple are also on offer.
A social trading network makes it possible to earn cash by copy-trading. There are, therefore, multiple ways to buy Ripple. From purchasing Ripple directly at an XRP exchange to trading it with derivatives like CFD or spread betting brokers, there are many options. Buying Ripple directly means that the risk is higher. If Ripple reaches nil value, you lose the entire amount. Speculating with brokers like ETX is safer. Derivatives crypto brokers permit you to speculate on whether the price goes up or down without actually owning it. If Ripple is traded through the spread bet, capital gains on profits don’t have to be paid. Trading on leverage requires strategies because if you lose cash, it cannot be offset against investment profits.
Since its inception in 1999, SpreadX specialises in BTC, ETH, Litecoin, Dash and, of course, Ripple. This FCA registered CFD spread betting broker covers over 15,000 markets. Then, there is IG which also specialises in Bitcoin, Bitcoin Cash, ETH, and Ripple. Spread betting, CFDs, registration with the FCA are some of the benefits. Founded in the 1970s by S. Wheeler, IG is a publicly-listed brokerage firm in London. As of 2017, IG had a market cap of 2.4 billion pounds and an active client base of 185,000 users.
IG has offices in several European and Asian countries as well as the Middle East. It covers over 15000+ markets.
But if you are looking for a wider range of altcoins, know that there are many exchanges that specialise only in cryptocurrencies and have moved beyond bitcoins and Ethereum. Launched in the year 2017, Coindirect is a trading platform that permits users in UK to purchase, sell or convert over 42 altcoins, including Ripple. Coindirect also allows accounts to automatically start with a BTC and ETH wallet that they have access to 24/7. Coindirect hosts wallets for free and permits the creation of separate wallets for each currency one is buying, trading or selling with. For purchasing altcoins over a value of 800 GBP, Coindirect requests proof of identity. The verification process follows local and international compliance standards. Coindirect is a peer-to-peer marketplace with bank-grade security measures in place.
Markets for cryptocurrencies like Ripple are undergoing high levels of growth. These are impacted by speculation, so a fair amount of volatility is there. This can also work to your advantage. Diversifying the cryptocurrency portfolio is essential. This is why you should consider buying more than one cryptocurrency. Research the different options before you. For a diversified cryptocurrency trading strategy, Coindirect gives the ability to purchase, sell or convert over 34 altcoins instantly and effectively. There are unique alternative options that can take over several days.
A cumbersome process can be averted by choosing the right cryptocurrency exchange. Withdrawing XRP to an offline wallet like Ledger Nano S or any other wallet that can be controlled is advisable for ensuring maximal security. This is why an exchange like Coindirect is a good choice. The wallet creation facility offered at this exchange offers a secure and easy way to transact business online.
Buying Ripple with PayPal or cash is not possible through an exchange. There is no direct way to buy Ripple with PayPal, but Binance is an exchange that permits purchase of BTC with PayPal and conversion of the same to XRP. Some cryptocurrency ATMs support Ripple, amounting to less than 1 percent. Buying Ripple with cash, therefore, requires buying BTC with cash and converting this to XRP using an exchange like Binance.
Binance is used to easily exchange bitcoins for Ripple. BitPanda permits EU citizens to purchase bitcoins or ETH with Skrill. Once there is ETH or BTC available, Binance and other such exchanges can be used to convert coins to Ripple. Swap your bitcoins or ETH for XRP at Binance and you’ll benefit from the most liquidity as compared to any other exchange. Binance permits trading within minutes of signing up. ShapeShift is another useful exchange for converting any coin to Ripple. Shapeshift.io makes it so easy that you don’t even need to open an account. Shapeshift further only holds funds for the duration of the trade.
Coinbase altcoins are, however, the easiest to buy. This is one of the largest cryptocurrencies in the world. For trading Ripple CFDs, forex broker AvaTrade is a good bet. AvaTrade offers CFD trades with 2:1 leverage. Trading Ripple starts from as little as 100 pounds. The broker offers round-the-clock Ripple trading for maximum convenience. Go short on Ripple and you’ll benefit even when the markets are down. Further, AvaTrade offers nil commissions on Ripple trading and does not charge bank fees on transactions either. Regulated on 5 different continents, AvaTrade orders can be executed in just under 3 clicks.
Several crypto exchanges handling the XRP token include the popular Bitstamp, Gatehub, Kraken and Coincheck.
Some of the basic steps vary but creating an account on any of these services requires identity checks. Kraken even has a two-factor verification process. Then, Gatehub has a system where a PIN code is received by SMS. Once the account has been set up and information has been verified, funds need to be deposited into the account and trading commences. For buying XRP, bitcoin needs to be purchased first and deposited into the account. Many exchanges accept USD as the preferred fiat currency, but others also accept GBP and the Euro. You can even trade cryptocurrencies for other digital currency. Depending on the Ripple exchange you choose, the time taken to clear order contracts vary. For example, while XRP transactions are instantaneous in most cases, other transactions require complex processing. To sum up:
But while considering the BTC versus XRP debate, Ripple would win hands down. With the fastest transaction and processing time, Ripple offers amazing value for those seeking anonymous, free and decentralised transactions. In light of this, buying Ripple is a sound financial move and the future of this altcoin is bright, indeed.