How to Buy XRP (Ripple) in South Africa: A Simple Guide
Looking to buy Ripple (XRP) in South Africa? We'll show you just how easy it is with Easy Crypto!
Besides Bitcoin, the choice to buy Ripple (XRP) here, in South Africa is a great decision too. Ripple (XRP) is one of the altcoins that has the potential to compete Bitcoin in the cryptocurrency market. That’s why if you’ve heard of Bitcoin, you’ve likely heard of Ripple (XRP) as well.
Now, if you’re getting confused about Ripple (XRP), stay calm. Today, let us guide you through and we’ll tell you everything about this altcoin. From the story of its origin to how easy it is to buy Ripple (XRP) in South Africa. Just remember to take some notes. .
What is Ripple (XRP)?
To start a discussion about Ripple (XRP), it is important to make a distinction from the start. Ripple is sometimes interchangeably known as ‘XRP’. Ripple is a separate company to the XRP token.
Ripple is a real-time gross settlement ecosystem that also promotes XRP. So, when you buy Ripple (XRP), it means you are buying the XRP token, not Ripple.
Ripple aims to help financial institutions settle payments by using their different payment networks, one of them being the XRP network.
Ripple aims to make its payment networks and XRP fully compliant with international laws and regulations.
Learn more about XRP: Read our complete guide on Ripple (XRP)?
What are the advantages of XRP (Ripple)?
The main selling points of Ripple (XRP) is its speed, its low transaction fees, and its scalability. Here are some details of its benefits:
- Transactions made on the XRP network are settled within 4 seconds.
- The average Ripple (XRP) transaction fee is $0.00001.
- The XRP network is capable of processing 1500 transactions per second and can be scaled to handle even more in the future.
Those numbers are quite significant when you compare them to other cryptocurrencies:
BTC’s main chain can handle about 4 – 7 transactions per second. With an average fee of about $2 – $5.
The ETH network can handle about 15 transactions per second. With an average fee of $0.62.
LTC can handle about 56 transactions per second. With an average fee of $0.56.
The XRP network is also capable of helping banks and financial institutions to settle transactions in traditional fiat currencies such as the South African Rand, the US Dollar, or even other cryptocurrencies such as Bitcoin.
Is XRP (Ripple) legal in South Africa?
Yes, Ripple (XRP) and other cryptocurrencies in South Africa are 100% legal.
Our government, along with governments of other countries, has realised that cryptocurrencies are here to stay, so we should be embracing them rather than trying to ban or fight them.
South Africa has been said to be ‘leading the crypto revolution in Africa!‘, so it is highly likely that cryptocurrencies, including Ripple (XRP), will not be made illegal in South Africa anytime soon :).
How to buy XRP (Ripple) in South Africa?
To buy Ripple (XRP) in South Africa you’ll need to sign up with a local exchange or broker. Luckily, here at Easy Crypto, we make it extremely easy for anyone in South Africa to buy Ripple (XRP) or over 100 other altcoins!
Step-by-step guide to buy Ripple (XRP) in South Africa
- Sign up
Head over to our sign up page and create an account. You can make an account with your email address, Google account, Facebook account or Twitter account.
- Verify your account
Once you’ve created an account you’ll need to get it verified.
This should only take a few minutes. Feel free to check out our guide on how to get your account verified if you need any assistance.
- Start buy XRP (Ripple)
Now you can buy Ripple (XRP) or any cryptocurrency of your choice.
Just enter the amount you’d like to buy, provide us with an address (and a tag if needed), and then pay for your order. Most orders are delivered within a few minutes!
You can currently choose between 3 different payment methods when buying cryptocurrency on Easy Crypto.
These include Stitch, Ozow and manual bank deposits. (Based on testing, we found that Stitch tend to be the faster payment method).
Note: Blockchain transaction times may add up to 1 hour until your coins are delivered (depending on network congestion) – which is beyond our control.
And that’s it! Based on our testing, the fastest possible delivery times are made using Stitch. We can have it delivered within 2-3 minutes (time subject to change depending on network congestion).
Buy XRP today: Click here to buy Ripple (XRP) in South Africa.
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Disclaimer: 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 May 24, 2022