Recently when Ripple aka XRP toppled Ethereum as number 2 cryptocurrency regarding market cap, falling just behind Bitcoin, it raised quite a few eyebrows. But the ones who have closely followed the rise of XRP wouldn't be much surprised by its see its incredible jump. Despite the quantum increase in fortune, buying Ripple from iPhone/iPad (or from any device) is a bit complicated, unlike Bitcoin.
First and foremost, you have to create two accounts. And you need to first buy Ethereum to be able to buy Ripple. But don't be disheartened. We have made a complete guide to let you walk through the process.
How to Buy Ripple (XRP) From Your iPhone and iPad
We have found Binance and Coinbase more reliable than other services. While the former hasn't yet rolled out its app (which is in beta), the latter's app has been making a lot of headlines recently. The best thing about them is that you can easily set them up.
While setting up your account, you have to choose between the bank account and your credit card. If you select the former, you will have to wait for a week for the verification to be completed. But with it, you will have the more weekly limit as compared to credit card.
Setup Your Binance and Coinbase Accounts
Create Binance Account
- Open App Store on your iOS device and search Binance app and download it.
- Then, launch the app and sign up. Tap on Account tab at the bottom and then select Register.
- You have to enter your email address, and password. (you can also enter referral ID which is optional). Next, agree to the terms and conditions and select register. Account code will be sent to your email. Enter it in the provided field.
Setup Your Coinbase Account
- Likewise, download coinbase iOS app from the App Store and create your account.
- Enter your email address and password. Then, you need to verify your account.
- Next, you need to select your state from a drop down and verify your phone number.
- You will receive a verification text message with the 7-digit code. Enter it to verify your mobile phone and complete the process of setting up your account. Now, tap Add a payment method.
- You can select your bank account or use your credit card to verify.
- Bank account verification will take about a week, while the credit card will be done instantly. However, the credit card has the lower weekly limit as compared to bank count.
- Once you have selected the preferred option, enter the requested information.
- If you use your bank account, you will have to enter your login info.
Note: The bank account transfers will take about a week. Hence, if you don't want to wait for that longer select it. But if you wish the process to be quick, select Credit Card as your payment method.
After you have added a payment method, tap Invest now.
Buy some Ethereum (ETH), to buy Ripple, you will have to first buy Ethereum (ETH)
To do so, first off enter the dollar value in USD of the amount of ETH you want to purchase and tap Buy Ethereum.
Next, you have to confirm your order. Tap Confirm to buy.
Send Your ETH to Your Binance Account
- As cryptocurrency transfers take place from wallet to wallet, you need to send your ETH to your Binance account.
- You have to select Deposits Withdrawals from the menu.
- Simply, tap on the stacked bar icon at the top right and select Deposit.
- Next, you have to choose ETH. When your wallet address shows up, tap Copy address to copy the wallet address to your clipboard.
- Now, in Coinbase, you have to tap on Accounts on the bottom of the screen and then select your ETH Wallet.
- Up next, send your ETH from Coinbase to Binance.
- From the ETH account screen, you have to tap the paper airplane icon located at the top right to send ETH to your Binance wallet.
- Now, you need to enter the amount of ETH, which you want to send to your Binance ETH wallet and tap Send at the bottom of the screen.
- Next, you have to correctly paste the wallet address you just copied from Binance.
- In the end, tap on confirm and send your ETH to Binance.
- Generally, transfers on the ETH network take about 5-10 minutes.
- When the ETH is available in your Binance account, use it to buy XRP.
- To do that, you need to tap on Exchange from the menu.
- Just tap on the stacked bar icon at the top right and then select Exchange.
- Be sure, ETH is selected at the top. Scroll down and select XRP/ETH.
- Then, you need to tap Buy XRP and then enter the amount of ETH you wish to trade.
That's all there is to it!
After you have made your purchase, you can store your XRP at Binance or transfer it to your XRP wallet.
I wish the process of buying XRP became a bit easier sooner than later. What's your take on it? Shoot your thoughts in the comments below.
You might want to take a peek at these posts as well:
- Best Cryptocurrency Apps for iPhone and iPad
- Best Cryptocurrency Trading Apps for iPhone and iPad
- Best Bitcoin Wallet Apps for iPhone and iPad
- Best Bitcoin Hardware Wallets