Unless you’ve been living in cave, you’ve probably heard about all of the recent craze around cryptocurrencies such as Bitcoin. One of the hottest new currencies on the market is called Ripple (XRP). In the past month, it has skyrocketed from around $0.20 to $3.50+ and those returns are hard to ignore. Unfortunately, getting your hands on some Ripple is not quite as easy as Bitcoin, Litecoin, or Ethereum as it is not yet available for purchase or trade in leading apps like Coinbase. We’ll walk you through the process here:
Step 1: Covert some Dollars to Bitcoin (or Litecoin/Ethereum)
The first thing you need to do is get into the cryptocurrency market. Start by creating an account with Coinbase and linking a credit/debit card or bank account. The process is easy and takes just a few minutes. Once your account is linked, buy some bitcoin – don’t worry you don’t have to buy a full coin, just purchase a little more than the end amount of Ripple that you’d like to invest in.
Step 2: Create an Account on a Ripple Exchange
Now, you can’t buy Ripple directly on Coinbase… yet. (Just wait to see the price jump once you can) So you will need to move some of that Bitcoin you just bought over to an exchange that supports Ripple. Two popular options are Bitsane and Binance. Once you have your account created, move on to Step 3.
Step 3: Transfer from Coinbase to Bitsane/Binance
Locate your wallet for whichever cryptocurrency you purchased on Coinbase, and find the Deposit button. In this case we used Bitcoin. Copy the long address (it will look like a long hash code) and then go to your Coinbase account. Once in Coinbase, go to Accounts > The Wallet of your currency > Send. Enter the amount you want to send and paste your address from Bitsane/Binance. NOTE: Make sure you are sending the right cryptocurrency from Coinbase to the same wallet on the new exchange.
Step 4: Buy Some Ripple!
Now back in Bitsane/Binance, locate the Ripple (XRP) market and put in a buy order using the Bitcoin you have transferred into this exchange. You will then see your new Ripple balance show up.
Step 5: Get Rich and Buy a Yacht
Invite SportSmasher.com to join your yacht party
Note: As of publication, exchanges are overloaded by demand and experiencing some delays. Get in while the gettin is good!