- Cryptocurrency Questions & Answers
- How to buy Ripple (XRP) on Binance?
How to buy Ripple (XRP) on Binance?
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Hey! I am new here, thanks for this awesome website I found here a lot of useful information. I've never used exchange services (all I have is 0.5 bitcoins on my computer that I've purchased about 3 years ago from my friend). I want to invest 50% of my 0.5 bitcoins to Ripple. I read here that this cruptcurrency is centralized, but I am not looking for fast return of my investments. I've registered an account on Binance and want to buy some XRP there and then withdraw coins to a hardware wallet. Could you please explain me step-by-step how I can buy ripple on Binance?
I will explain you how you can buy Ripple on Binance with some screenshots. The good thing is that Binance interface is really easy to use (in comparison with Kraken exchange for example).
So, how to buy Ripple on Binance with Bitcoin:
First of all you need to deposit your bitcoins to your Binance account.
To do that log in to your account and click «Deposits Withdrawals» under Funds navigation menu item.
On the Deposits & Withdrawals page find Bitcoin in the list of cryptocurrencies and click «Deposit»
You will see BTC Deposit Address — this is address where you need to send your Bitcoins from your wallet. Send bitcoins to this address and after 2 network confirmations Bitcoins will be funded on your Binance account.
Now it is time to buy Ripple with Bitcoins
Go to Basic exchange:
On the right side you will see the list of different trading pairs. In the search bar type «XRP» and then click on XRP/BTC trading pair:
On the page you will see all information about Ripple/Bitcoin trading pair. Scroll little bit down, and fill details in the Buy XRP section: if you know exact amount of Ripple that you are going to buy on Binance — specify it in the field «Amount». Or, you can select the percentage of your Bitcoin balance that you want to spend for Ripple. For example, if you deposited all your 0.5 bitcoins, and want to buy Ripple only for 50% of them (which will be 0.25 BTC), click on 50% button. And then click «Buy XRP» button.
That is it. The process is very simple and is applicable to other trading pairs.