Page Summary
XRP is the native cryptocurrency of Ripple, Inc and runs on a centralized blockchain. It is an excellent asset for payment settlement, digital coins exchange, and remittance systems. Ripple XRP is pre-mined on a Ripple trading platform and used by banks for forex transfers.
The best trading platforms for Ripple are eToro, Binance, Coinbase, and Coinmama. This article discusses the strengths and weaknesses of the leading trading platforms for Ripple.
Best Trading Platforms For Ripple:
- eToro – is the leading user-friendly platform for trading Ripple
- Binance – is the best trading platform with transparent fees and excellent support
- Coinbase – is the top choice for advanced traders
- Coinmama – is the top choice for traders at all levels who want access to Ripple, Ethereum, and Bitcoin
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|---|
| #1 | eToro | Competitive fees | 4,9/5 | Leading user-friendly platform | Official website |
| #2 | Binance | Excellent support | 3,1/5 | Best tplatform with transparent fees | Official website |
| #3 | Coinbase | Offers custodial wallets | 2,6/5 | Top choice for advanced traders | Official website |
| #4 | Coinmama | Excellent safety measures | 0,0/5 | For traders at all levels | Official website |
Best Trading Platforms For Ripple In Overview:
1. eToro – Best User-Friendly Ripple Trading Platform
Min Deposit: $200
Fees: 4.8
Assets available: 4.8
Total Fees:
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD
eToro is the leading Ripple trading platform with competitive fees and user-friendly platforms. It offers a dedicated eToro wallet and a unique minimum withdrawal fee for each asset. eToro account holders receive access to popular coins, including Ripple and Bitcoin. It is a good choice for traders looking for professional tools for trading CFDs.
eToro is a social trading broker with 16 different crypto coins. Social trading with digital assets at eToro works the same as social forex trading. Users search for a trader’s portfolio they want to follow and click “Copy.” We recommend eToro for traders at all levels who wish to access professional Ripple services.
2. Binance – Best Customer Support For Ripple Trading
Binance is a popular crypto exchange worldwide. It provides access to many digital assets, including Ripple. Binance has 100+ different trading pairs, including fiat currency pairs. This exchange offers premium account features, including staking rewards.
Binance is a top choice for professional XRP trading enthusiasts. Account holders get access to instant buy features with a debit card. Customer support at Binance is excellent and offers knowledgeable answers to most queries. Binance doesn’t provide a native hot wallet. It has limited learning tools and some research features. We recommend Binance to advanced traders who want access to lower trading fees.
Related: Binance review
3. Coinbase – Best Ripple Trading Platform For Professional Traders
Coinbase is a trustworthy crypto trading platform with access to many coins. It has a versatile portfolio and a competitive fee structure. Coinbase Pro is a top choice for professionals with access to a lower fee structure.
Coinbase offers custodial wallets to help account holders secure their assets. The Pro platform is free and offers professional tools. This exchange provides many investment solutions for all its clients. Coinbase Earn is an interesting staking reward system with excellent incentives. Coinbase offers 80+ digital coins, including Ripple, Bitcoin, and Litecoin. We recommend it for professional traders.
Related: Coinbase review
4. Coinmama – Best Ripple Trading Platform For Traders At All Levels
Coinmama is a leading Bitcoin exchange with access to many coins, including Ripple. It offers excellent safety measures for all Coinmama account holders. This exchange has the best experience for credit/debit card transactions. Coinmama has a high spending limit for deposits.
Coinmama is available in most countries. It offers fast account verification and lets traders invest in Ripple immediately. This exchange’s fees might get expensive. We recommend Coinmama for traders at all levels.
How We Choose The Best Trading Platforms For Ripple?
At Business24, we help savy investors make the best decisions with their money. We know that the word “best” is subjective, which is why we focus on sharing both strengths and weaknesses of crypto exchanges. We use 105 criteria to review exchanges and digital assets to help you make an informed decision.
We review popular exchanges with real accounts and money. The main criteria for selection include fees, assets, trading tools, and safety.
Fees: A transparent fee structure adds to a great trading experience. Some Ripple exchanges offer a simple fee structure, others do not. Check our in-depth reviews for details on fee structures for each cryptocurrency exchange.
Account: Each exchange has different account tiers. Some crypto exchanges request a minimum deposit fee. Others won’t request an initial deposit for opening new accounts. Read our in-depth reviews to learn more about account options and crypto exchanges.
Withdrawal and deposit: Funding your account needs to be straightforward. Depositing funds takes longer with some exchanges than with others. Learn about the policies at each exchange in our in-depth reviews.
Market and products: Each crypto exchange has its own markets, native currency, and digital asset coverage. You should choose a trading platform with a versatile portfolio. Check our in-depth reviews to discover more details on markets and exchanges.
Trading platforms and apps: A user-friendly platform contributes to an excellent trading experience. Choose an exchange with an easy-to-learn platform. The Ripple trading platforms in our review are reliable, but some might be challenging for inexperienced traders. This are the best apps for crypto trading.
Customer support: Customer support is vital for your cryptocurrency success. The best Ripple platforms offer live chat, email, and phone support.
Safety: A reliable trading platform has top-tier licenses from a regulatory body. It offers industry-leading safety measures for all account holders. Read our in-depth reviews to discover more details about online trading and safety.
How To Open A Trading Account With eToro?
eToro is the leading platform to trade Ripple. It offers excellent social trading services and trading platforms. Traders buy Ripple XRP with a minimum trade requirement of $10. The minimum deposit fee at eToro is $200. There are four simple steps to open a trading account with eToro.
Step 1: Access the eToro official website
Go to the eToro official website. Click on this link: https://www.business24-7.ae/etoro-crypto-start.
Step 2: Click on the Get Started button
Next, you have to click on Get Started. This button will redirect you to a new page for setting up new accounts.
Step 3: Create and verify your account
To buy Ripple through eToro, you have to sign up, verify your account and make a first-time deposit. The system will let you buy, hold, and sell Ripple and other cryptos.
Step 4: Buy Ripple (XRP)
eToro account holders buy, hold, and sell fractions of Ripple. To own Ripple XRP, you don’t need to buy a full XRP coin. A 0.000001 bit of XRP is referred to as a “drop” and is the smallest tradeable unit of Ripple XRP. Customers trade all cryptocurrencies available at eToro with fractional of the total coin.
Summary
eToro, Binance, Coinbase, and Coinmama are the best platforms for trading Ripple. All platforms have strengths and weaknesses depending on your trading skills and experience. We recommend eToro to traders at all levels who want access to a competitive fee structure and social trading services. Binance offers excellent support for XRP trading.
FAQ
Who Created Ripple?
Ryan Fugger is the software developer who founded the Ripple network in 2005. XRP is the native coin of Ripple. Traditional financial institutions prefer using Ripple XRP for settlement between currencies. It has increased in popularity, growing in adoption with the larger cryptocurrency networks. XRP trading is popular in 2022, especially with retail investor accounts.
Is Ripple Available In The U.S.?
U.S. traders have difficulties accessing Ripple trading platforms. An SEC lawsuit against Ripple trading makes it difficult to trade XRP in the U.S.
Is A Crypto Wallet Necessary For Trading Ripple?
Yes. Traders invest in XRP only via a wallet. An XRP wallet offers private and public keys to sign transactions and manage your funds. Read our in-depth reviews to learn more about crypto trading and wallets.
Which Is The Simplest Way To Create A XRP Wallet?
The best steps to take when creating a digital wallet are: – Select a Ripple exchange account to buy/sell cryptocurrency; – Choose a hot wallet to hold small to medium amounts of digital assets; – Choose a cold wallet for larger holdings and long-term investments.
Is There A Minimum Transaction Fee To Trade Ripple XRP?
Yes. The minimum transaction fee on the Ripple blockchain is 0.000010 XRP, also known as 10 “drops.” This fee is charged by the network, not by the banks or eToro.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.