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How And Where To Buy Ripple (XRP) With Bitcoins, USD

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Ripple, an open source, peer-to-peer payment network is on it’s way to dominate the world of crypto currency. Ripple or “ XRP ” claims to have an advantage over bitcoin with having a decentralized network which has the twin benefits of not having to wait for confirmations and there being no central point of failure, which should provide stability. We already mentioned ripple as a killer or competitor in one of our previous article, read here.

OpenCoin, parent company behind ripple: has determined that the coins will be in total 100 billion. All ripples have already been generated and will be distributed later. The Bitcoin, however, have a fixed limit of 21 million units will be created gradually until 2140 to get it. In order to purchase ripple, first of all you need a ripple address, if you don’t have your ripple wallet then follow our previous guide to setup ripple wallet and address.

As of today, there are two ways to get initial deposit. First, OpenCoin is organizing free XRP giveaways, handing out generous quantities of XRP to as many people as it can reach. Currently they are giving away ripples on bitcointalk forums. Later on, giveaways will be organized on Facebook and Twitter accounts. If you want to stay updated with ripple giveaways, follow our Facebook Page for daily updates.

Second way is, purchasing at your own. Currently WeExchange and Bitstamp are the two gateways, selling XRP. Here we’ll use Bitstamp for demonstration.

Note : You must have 300 XRP in your ripple wallet to activate your account first.

Step 1. Sign up / log in your account at bitstamp

Step 2. If your account is empty then deposit some money or bitcoins into the Bitstamp account.

Step 3. First click on “Withdrawal” then select “Ripple” as the withdraw currency, enter the amount you want to transfer in your ripple wallet. In order to transfer ripple to your wallet, you’ll be asked to trust Bitstamp address first.

Ripple Bitstamp Purchase

Step 4. Login to your Ripple wallet, go to “Advanced” and “Trade“. If it’s not already selected, choose “BTC/XRP” from the dropdown menu.

Step 5. Now click “change issuer” next to BTC, and enter Bitstamp’s Ripple address. Add the address of Bitstamp ripple address, which you can find in your Bitstamp account. Simply go to the Bitstamp Dashboard >> Deposit >> Ripple and note down the ripple address.

Buy Ripple with Bitcoin

Step 6. Now set the amount of trust,and add it. You don’t need to give them big amounts of trust,  0.1 USD or 300 XRP is enough. In a few seconds you should receive the ok answer.

Step 7. And, there you go,Now you can transfer your balance from Bitstamp to Ripple wallet.

That’s it. If you still have any problem, ask us in comments section below.

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Comments ( 11 )

Have Something To Say ?

  1. Jonathan Morgan May 7, 2013 Reply

    How do I get a ripple address? I have some bitcoins to pay in but I do not have an address to pay them in to.

  2. Paul May 16, 2013 Reply

    Hi
    I’m registered with weexchange.com but I can’t find anything on their site about buying ripples, which is what I would like to do. Are they actually buying/selling ripples?
    Paul

  3. markt May 16, 2013 Reply

    Thank you for the step-by-step. I have transferred some BTC to bitstamp – worked fine. I am now trying to send the bitcoin in the bitstamp account to my new ripple wallet but it says that my destination address is invalid. Is there a minimum time that I must allow for the ripple wallet to validate?

    Thank you

    • Vinay Prashar May 17, 2013 Reply

      Did you trust Bitstamp in your Ripple Wallet ?

  4. Danny May 17, 2013 Reply

    Ripple, in every way, should be banned by those who support BTC!

    Ripple will try to undermine the meaning of BTC and abuse it in everyway.

    BTC just needs more input, understanding and support. Then it will grow even faster.

    A thing which would help aswell is stop making duplicate currency’s like Litecoin etc, greedy scums!

  5. Patrick Mahoney May 23, 2013 Reply

    I don’t understand how to buy Ripples because I don’t have any money in my Ripple wallet, so my Ripple wallet won’t let me trust anyone, so I can’t trust bitstamp, so I can’t buy Rippes. This seems like a chicken and egg problem…? You can’t buy them because you don’t have any…

  6. mmortal03 June 1, 2013 Reply

    These instructions don’t work anymore if you leave your destination tag as part of the base currency issuer address.

    • bill June 3, 2013 Reply

      i dont get it. can you explain why.?

  7. Jade November 20, 2013 Reply

    Ok, so XRP is created and given out by a central authority. There’s no mathematical structure limiting them from ever creating more. How is this better than a central bank?

  8. Lam January 16, 2014 Reply

    Please help me to activate the ripple wallet, many thanks,
    I had done the above steps, send 0.0007 bitcoin to bitstamp, and withdraw at ripple wallet, but when I paste the ripple address on bitstamp, it said that my ripple address is invalid, so that I cannot deposit bitcoin to ripple wallet. Please help me to do the first time transaction by using ripple wallet!

  9. Lam January 16, 2014 Reply

    I had done all the steps above already, the only things is ripple wallet address, it said that invalid, I am wondering I done above steps in China, is that different!

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