How to Buy Ripple Stock Before Its IPO

Moving crypto assets into a private wallet, especially a hardware wallet, enables investors to adopt security best practices and the self-custody ethos strongly advocated among experienced hands. Enter and confirm the amount of XRP, you would like to purchase and pay using your preferred method. Coinbase accepts debit cards, ACH deposits, wire transfers, Apple Pay and Google Pay, allowing you to buy cryptocurrency easily.

These companies can range from crypto exchanges to Bitcoin mining operations to companies involved in the tech behind digital assets. After deciding what platform you want to trade on and if you wish to use a cryptocurrency wallet, you are ready to purchase XRP. If using a CEX like Coinbase or Robinhood, type in the ticker XRP or Ripple in the trade or search menu and select it. After confirming the amount of XRP you would like to purchase, you can transfer funds in a few ways. Popular payment methods that CEXs support include debit card or credit card, wire transfers, ACH deposits, Apple Pay and more.

Where to Invest $1,000 Right Now?

Plus, DEXes typically only support crypto-to-crypto trades meaning you have to use another asset to acquire XRP, and you will have to buy it from a centralized platform anyway. However, it can still be bought and traded on other exchanges, such as Binance, as well as via several stock brokers such as eToro. Since buying Ripple Labs stock is a no-go for now, the best way to capture some of the company’s anticipated growth is through their product – in this case, the Ripple crypto token, XRP. When it does go public, the Ripple stock symbol might be something like RLAB, RIPL, or XRP. When it does finally have a ticker, you’ll need a brokerage account to buy shares. Keep in mind that cryptocurrencies are extremely risky and that an investment in XRP is not an investment in Ripple Labs.

1. If you have access to Binance.com, you can buy, sell, trade, store and lend XRP within the exchange.
2. However, it’s worth noting that not all IPOs are available through these brokers.
3. In this way, XRP is one of the more ambitious cryptocurrencies aimed at revolutionizing global payment systems and the digital economy.
4. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers.
5. Ripple is a technology company that utilises XRP in its solutions whereas XRP is an independent digital asset that operates on the XRP Ledger.
6. Liquidity pools provide liquidity to a basket of XRP and other cryptocurrencies, allowing traders to swap between those currencies.

Should you invest in XRP?

Investors can accept a seller’s asking price as listed or place bids and negotiate with sellers. They can also add companies to their watchlist and get notified of any new transactions or listings. In 2020, the SEC accused Ripple and its founders of violating securities laws by selling $1.3 billion of XRP before registering it. The company argued it was a commodity, not a security, and didn’t need to be registered. It’s important to note that Ripple is the company behind creating XRP cryptocurrency. Please note that this is just a general overview, and you should always consult with a financial advisor before making any investment decisions.

How to Buy Ripple Stock in 2024

While Bitcoin transactions can take minutes or more than an hour, the advantage of XRP is that its transactions are confirmed every three to five seconds. Ripple stock is owned by previous CEO and co-founder Chris Larsen (17%), current CEO Brad Garlinghouse (6.3%) – the rest of the company’s ownership structure is unclear. Remember – as of right now, you still cannot buy Ripple stock, and it does not have a ticker symbol – but keep an eye out for news regarding the company’s IPO. Register here and get the chance for exclusive access to Ripple stock before its 7 project planning activities to make things easier IPO. However, Ripple’s leadership has been clear in their intentions to take the company public – and since odds are that the SEC court case will be concluded in 2023, that can happen sooner than you would expect. The first came in January 2022, when it repurchased the $200 million it had raised in its Series C at a valuation of $15 billion.

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You have to provide personal information to verify your identity and connect a payment method. After providing the necessary documents and information, Coinbase can take up beginner’s guide to buying and selling cryptocurrency to 48 hours to complete the verification process. This includes your date of birth, a photo of your driver’s license, and your home address. After your account is verified, it is essential to store your login information securely. Here are some crypto exchange and app options that allow you to purchase XRP. This section assumes that you are using Uphold and that you have created an account, verified your identity, and funded it.

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However, the safest platform will also depend on your specific needs and circumstances. Always make sure to do your due diligence before deciding on any particular platform. Ripple’s payments system aims to create an efficient and cost-effective alternative to the existing SWIFT banking system by using blockchain technology for value transfer. However, the company is currently entangled in a legal battle with the US Securities and Exchange Commission (SEC), which has impacted the price of XRP for several years.

As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers. Then, navigate to the trade or search section and type in XRP or Ripple. After selecting the token, confirm the amount you want to purchase and pay using your preferred payment method. Some wallets also facilitate buying XRP directly, but the fees might be higher using them.