In this article, we offer you a guide to buying Ripple step by step. This guide is divided into three parts: Prepare a Rippex, buy Ethereum, and then replace Ethereum with Ripple. this article on our site E-helper team.
How to Buy Ripple Step by Step
First: Preparing the Rippex Portfolio
1. First, you must install the Ripple Wallet on your computer to store the balance you will get from the Ripple. You can use the Rippex portfolio which can be downloaded here.
Once the file is downloaded, install and open the wallet.
2. You will be asked for your login details. If you do not yet have an account, click “create new account”.
3. In the menu that appears, click “create an empty account”. You will be asked to set a place to save your new portfolio file. Choose a safe place on your computer.
4. You will then be asked to encrypt your new wallet file. Enter a difficult password but do not forget it! Then click “encrypt account”.
5. Your account information will now be provided to you. Write down your wallet address. Example: (rwebTT8kyDtCJKf6QDPr6DP4JjSfDRARRq)
Keep the secret key as well For example: (sp8238t6RWBdMqfpeFxZG1k3qUYNR)
It is very important and anyone can access your wallet by them. From any computer. Which requires storing this key in a safe place from prying eyes.
After the key is activated, click “Yes, I saved my secret key”.
Second: Buy Ethereum
6. You will now buy Ethereum on Coinbase, so you can replace it with Ripple (you can skip this step if you have Ethereum).
Press “sign up” and fill in your data (make sure you type your name exactly as it says on your ID card).
To verify your account, you must provide a phone number. Upload a photo of your identity card. And verify your credit card or bank account before you can buy .
Note: If you are using the bank account for the buy of Ethereum. The process is done quickly with a higher rate of deduction than when the bank transfer is used forbuy. Which makes the buy process take longer.
After you’ve verified your payment details, click “buy / sell” in the top menu.
Choose “Ethereum” and at the bottom of the page choose how much you want to spend in the local currency and the number of coins you want to buy. Then click the “Buy” button.
7. You will be asked to confirm your buy.
Press the “Confirm Buy” button.
Thus, you have acquired some of Etherum. But do not close Coinbase yet, I still need it.
Third: Replace the Ethereum with the Ripple
We suggest using the Binance site to replace the Ethereum with the Ripple.
8. In the login portal, enter the email and password you just used to sign up, then click “Login.”
9. A window will appear showing you to create two factor authentication (2FA) on your account.
We highly recommend doing this, because if hackers can get your password, this second level of security makes it very unlikely that they can get your Binance account.
10. You can use the Authy app on your mobile phone or web browser.
11. Place your cursor over ‘FUNDS’ in the top menu and click ‘Deposits Withdrawals’.
- Type ‘Ethereum’ in the search box.
- Press “Deposit”
- You will be given an etherium deposit address (long string of numbers and letters).
- Copy this address and save it in a safe place where we’ll need it soon.
12. Now you have to wait a few minutes while the currency moves through the network.
Unless there is a large accumulation on the network, it takes between 20 and 60 minutes to appear in your Binance account.
Binance will be updated automatically so there is no need to update the page.
11. Once the etherium appears in the “available balance”, you can trade it for the Ripple.
Click here to go directly to the XRP / ETH exchange window on Binance.
There are two ways to buy a ripple:
- ‘Limit’, which lets you manually set the price you want to spend to buy Ripple.
- ‘Market’, which automatically fills your order with the best rates available.
Since the second option is simpler, it is preferable to rely on it. Look for the big green button “buy Ripple”. Above, click the “Market” option.
In the ‘Amount’ entry box, type the XRP number you want to buy. You may find it easier to use the percentage buttons below the input box
For example, press 50% if you want to replace 50% of the ethrium for XRP.
Then press the buy button. Your application will be filled out immediately.
How about selling Ripple XRP?
You can simply reverse the order of steps you have taken in this directory.
Send your balance from the ripple to Binance, replace it with etherium, send etherium to Coinbase and then sell it for the currency you want.