How do I Invest in Ripple? – Easy Crypto Ripple XRP Essentials
Asking how do I invest in Ripple? If so, it is likely that you are new to the cryptocurrency market. In this case, it is.
Asking how do I invest in Ripple? If so, it is likely that you are new to the cryptocurrency market. In this case, it is important not to jump straight into investing. Buying Ripple XRP in New Zealand is easy. However, it is also necessary to learn how to store coins safely and decide how long to invest for.
Everything You Need to Know About Ripple XRP
Like Bitcoin, Ripple is a payment coin and payment network. However, unlike Bitcoin, Ripple is a payment network designed to be used by existing financial institutions. Ripple is, therefore, fully compliant with international payment regulations stipulated by the likes of the U.S. and EU.
By being designed to be used by major financial institutions, Ripple is also blazingly fast.
- Ripple payments settle in 4-seconds.
- XRP payment fees average $0.00001.
- The Ripple Network is capable of processing 1,500 transactions per second.
The biggest hurdle for Bitcoin is adoption among mainstream payment processors. Banks do not like Bitcoin. Bitcoin is also slow, and Bitcoin fees mean that using Bitcoin for small purchases is not practical. Ripple solves all of these problems. For this reason, some believe that Ripple is the coin which will eventually dominate where Bitcoin can’t.
How do I Invest in Ripple?
At Easy Crypto, it is easy for New Zealanders to buy Ripple in under 2-minutes.
- Sign up at Easy Crypto using your email address or a verified Google or Facebook account.
- Complete your Easy Crypto profile and verify your identity by uploading your NZ issue driving license.
In most cases, it is possible for Easy Crypto to verify new user accounts within minutes.
Once verification is complete, it is possible to buy Ripple via bank transfer and POLi instant pay. All new users need to do is enter the amount of Ripple they would like to purchase in New Zealand Dollars and enter a valid XRP wallet address.
What Ripple Wallet Options are There?
App wallets like Toast are free. However, it is worth considering using a dedicated hardware wallet like a Nano Ledger S. This way, it is impossible for stored XRP to ever be hacked, lost, or stolen. (Providing a hardware wallet is backed up and kept in a secure location.)
The most important thing to remember when investing in Ripple in large amounts or for the long-term, is that you should consider storing XRP inside your own wallet. Having an institution store the XRP coins for you is great for trading and day-to-day transactions.
But this would defeat the purpose of a global decentralised payments network. With all cryptocurrency, you are in control, and with that comes the responsibility to ensure that your assets are safe and accessible only to you.
Read more: How to sell Ripple (XRP) in New Zealand
Also, don’t forget to subscribe to our monthly newsletter to have the latest crypto insights, news, and updates delivered to our inbox.
Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated October 7, 2022