KCN: Bitstamp trades Ripple's XRP tokens
Let us preface this by saying that this is not an endorsement for any cryptocurrency,
or otherwise. The markets for these largely untested, unproven digital assets are extremely young and fickle—as evidenced by the
has managed to avoid some of the wilder downward swings afflicting other cryptocurrencies, like Bitcoin. In fact, XRP, as Ripple’s token is technically called, broke the $1 mark for the first time last Thursday, and quintupled its market cap to more than $50 billion between Wednesday and Friday of that week, according to data from
Exactly why Ripple’s XRP has rallied is not obvious. Recent
, or quirks of the coin itself, as well as its supply, may contribute to the phenomenon.
In seeking an explanation for the uptick, some people have pointed to unverifiable rumors circulating in online forums that
, one of the biggest U.S. cryptocurrency exchanges, may add add support for it, thus allowing retail investors to purchase it on its website or app. Who knows. We certainly have no evidence that that’s true.
However, given the search interest, we put together a quick guide on how to purchase the stuff. If you were interested in acquiring some Ripple’s XRP, here’s how you might go about doing so.
First off, note that you cannot buy XRP on Coinbase. The site, which has soared to become one of the iPhone’s most popular in recent weeks, recently added support for
, a controversial “fork,” or spin-off, of Bitcoin. Coinbase already let’s you buy other cryptocurrencies such as
lists all of the exchanges where XRP is available for purchase. Some of the top exchanges include
From here, it’s pretty simple. You create an account at your exchange of choice, enter some personal information, and navigate to make your purchase. For detailed instructions, Ripple’s website provides step-by-step instructions with screenshots for each exchange. Here are the guides for
Trading in cryptocurrencies is an inherently risky business. You could lose everything—or not. We don’t know. Just don’t say we didn’t warn you. Bitstamp Xrp Wallet
(This story was corrected on 12/27 to note the market cap of Ripple is $50 billion not $5 billion)
Sign up now to receive FORTUNE's best content, special offers, and much more.
Sign up now to receive FORTUNE's best content, special offers, Sign up now to receive FORTUNE's best content Bitstamp Xrp Wallet
0 Reviews:
Post Your Review