Please keep in mind that cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. You could lose all the money you put into them. Capital gains tax may apply to profits from cryptocurrency sales.

How to Buy XRP in the UK

Updated On: Sep 23, 2022
How to Buy XRP UK

Contents:

How to Buy XRP

‍To buy XRP, you need to:‍

  1. Sign up to an exchange: You can buy XRP from crypto exchanges such as eToro, Uphold or Phemex. A crypto exchange allows you to buy, sell, hold, and gift many kinds of cryptocurrencies, including popular coins like XRP, Bitcoin, Ethereum, USD Coin, Solana and Dogecoin. Scroll down to see a list of crypto exchanges where you can buy and sell XRP in the UK. You’ll need a valid ID card and payment method to create an account with most of these exchanges.
  2. Add a payment method: Most crypto exchanges allow you to deposit funds using your GBP debit card, via a bank transfer or through Open Banking.
  3. ‍Choose and configure your wallet: Wallets are extremely important as they help you store your XRP and other crypto holdings. It is better to store your cryptocurrencies in a wallet instead of a crypto exchange because wallets are typically independent of exchanges. If the exchange goes bust, for example, you can rest assured that your money is safe on the blockchain and separated from the crypto exchange. Examples of crypto wallets include eToro Money Wallet and Uphold Wallet.
  4. Buy XRP: Once you’ve signed up to a crypto exchange and configured your wallet, you are now ready to buy XRP. Simply navigate to the trading section of your preferred crypto exchange and buy some XRP tokens.
  5. Transfer your XRP to a secure wallet: Once you’ve completed your purchase, transfer your XRP to a secure wallet for safekeeping. You can always transfer it back to the exchange when you are ready to convert your XRP to cash.

Where to Buy XRP

We’ve compiled a list of some of the best platforms to buy XRP in the UK. These are crypto exchanges, wallets, apps and websites where you can buy XRP, Bitcoin, Ethereum, Solana, Cardano and other cryptocurrencies in the UK.

Please remember that cryptoassets like XRP are highly volatile, unregulated investment products with no UK or EU investor protection. You could lose all the money you put into them. Additionally, capital gains tax may apply to profits from cryptocurrency sales.

Here are some of the best crypto exchanges to buy XRP in the UK:


eToro - Live prices; Wallet; Advanced trading tools; Popular coins

eToro Logo
Minimum Deposit
US$10 (£8)
Trading Fees
1%
Withdrawal Fees
Green check mark indicating yes
FX Fees
Green check mark indicating yes
FCA Registered
Green check mark indicating yes

eToro is a multi-asset trading platform that offers both investing in stocks and crypto assets, as well as trading CFDs. With eToro, you have over 120 cryptocurrencies to choose from, including popular coins like Bitcoin, Ethereum, Tether, XRP, Binance Coin (BNB) and Solana. It is entirely free to open an account with eToro, and all registered users receive a US$100,000 demo account for free, which you can use to practice buying crypto and other assets before committing to them. eToro does not charge a deposit fee but charges a 1% trading fee on all buy and sell orders. Trading on eToro occurs in USD, so a conversion fee will apply if you deposit or withdraw in a currency other than USD. Withdrawals incur a fee of US$5, and the minimum withdrawal amount is US$50.

For UK customers, eToro offers an eToro Money app which allows you to convert your GBP to USD free of charge, thereby reducing your foreign exchange costs. The app also functions as a wallet for storing your crypto holdings and allows for easy transfer of your cryptocurrency from one exchange or wallet to another. In addition to cryptocurrencies, eToro offers other products, including 0% commission stocks.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk. Additionally, 78% 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.

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Uphold - Good for beginners; Cheap Forex rates; Crypto wallet

Uphold Logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
1.25% - 0.85% / 1.25% -  1%
Withdrawal Fee
Red cross mark indicating no
FX Fees
Green check mark indicating yes
FCA Registered
Green check mark indicating yes

Uphold is a beginner-friendly cryptocurrency exchange that allows you to buy and sell over 90 cryptocurrencies and utility tokens, including majors, altcoins and emerging tokens. You can also buy and sell up to 3 national currencies, including GBP, EUR and USD. With Uphold, you can schedule regular transactions using AutoPilot, which allows you to set up recurring buy or sell orders and reduce the impact of price volatility. Uphold also lets users withdraw funds to bank accounts in 36 countries or to private wallets on five crypto networks - instantly and fee-free. Uphold currently has over 2 million customers worldwide.

There are multiple fees involved when trading crypto on Uphold. Fees are calculated at the time you place your order, so the price you see before your trade is the same price you pay when you trade. The most important fees to look out for are trading fees, FX fees, and market spreads.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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OKX - Beginner-friendly; Wallets, Advanced crypto trading tools

OKX Logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
0.08% - -0.005%/ 0.100% - 0.020%
Withdrawal Fees
Red cross mark indicating no
FX Fees
Red cross mark indicating no
FCA Registered
Red cross mark indicating no

OKX is one of the biggest crypto exchanges in the world, and it allows you to buy, sell and store hundreds of popular cryptocurrencies and altcoins. OKX users can trade Bitcoin, Ethereum, Tether, USD Coin, XRP, ADA, SOL, DOGE and many other popular cryptocurrencies. Users can also trade a wide range of DeFi cryptocurrencies such as Uniswap, AAVE, Maker, Synthetix and Compound, as well as NFT-related cryptocurrencies such as ApeCoin, FLOW, Chiliz and MANA (Decentraland). OKX allows you to buy crypto with GBP and over 30 other fiat currencies or with your existing cryptoassets. OKX has crypto trading tools for beginners, advanced traders and institutions. Users can also earn high yields, access new tokens early, join OKX’s mining pool, or use cryptoassets to take out low-interest loans.

OKX charges Maker-Taker fees for trades conducted on the exchange. These fees are different for regular and VIP users. Regular users are categorised into tiers by their total OKB holdings, whereas VIP users are categorised by 30-day trading volumes and daily asset balances. The trading tiers are updated daily.

Promo: Buy or deposit US$50 worth of crypto and get a Mystery Box.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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Phemex - Live prices, Advanced crypto trading tools, Crypto wallets

Phemex logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
0.025% / 0.075%
Withdrawal Fees
Green check mark indicating yes
FX Fees
Green check mark indicating yes
FCA Registered
Red cross mark indicating no

Phemex is a crypto trading platform with custom-built trading engines that process 300,000 transactions per second with order response times of less than one millisecond. The founding team consists of ex-Morgan Stanley executives who boast decades of practical Wall Street experience. With Phemex, you can buy Bitcoin, Ethereum, Tether, Dogecoin, Chainlink, Cardano, XRP, Litecoin, and other popular cryptocurrencies with your debit or credit card. The platform is suitable for both beginners and advanced crypto traders. However, advanced traders will find Phemex particularly appealing as you can trade BTC, ETH and over 224 Crypto Pairs with zero trading fees (Premium users only). Users can also boost their crypto knowledge by taking advantage of the 400+ articles on hot crypto projects available on the platform.

There are multiple fees involved when trading crypto on Phemex, including trading and withdrawal fees. These fees depend on whether you trade cryptocurrencies via the Phemex wallets, trading accounts, spot trading platforms or contract trading platforms. Click here to learn more.

Promo: Up to US$180 welcome bonus. Learn more here.

Please note: Cryptoassets are highly volatile unregulated investment products with no UK or EU investor protection. Your capital is at risk.

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What Is XRP?

XRP is the native cryptocurrency of Ripple, a blockchain payment system created in 2012 by Ripple Labs Inc. It facilitates cross-border transactions at a speed and throughput that is orders of magnitude faster than Bitcoin or Ethereum. For context, transaction speeds can be as fast as 60 minutes with Bitcoin, 10 minutes with Litecoin, 2 minutes with Ethereum and 0.07 minutes with XRP. 

XRP proposes a cheaper, more efficient alternative to SWIFT to process international transactions. 

The Society for Worldwide Interbank Financial Telecommunication or SWIFT is a global messaging network that banks and other financial institutions use to quickly, accurately, and securely send and receive information, such as money transfer instructions. SWIFT currently has more than 11,000 member institutions globally.

XRP proposes to do SWIFT’s job cheaper, more efficiently and in an eco-friendly manner. The XRP Ledger settles XRP transactions instantly without the energy costs associated with proof of work (or mining), as is the case with Bitcoin, Ethereum and many other cryptocurrency blockchains.

‍XRP currently has over 300 financial institutions on RippleNet and consistently handles 1,500 transactions per second, 24 hours a day, and can scale to handle the same throughput as Visa. It also recently won a lawsuit against the US Securities and Exchange Commission (SEC).

Who Created XRP?

XRP was created by Ripple Labs Inc.

Ripple Labs Inc. was founded in 2012 by Chris Larsen and Jed McCaleb and is based in San Francisco, California, USA.

What Is the XRP Blockchain?

The XRP blockchain, called the XRP ledger, is an open-source, permissionless and decentralised blockchain technology that can settle transactions in 3 - 5 seconds.

Unlike other blockchains that use proof of work or proof of stake verification mechanisms to settle transactions on the blockchain, the XRP ledger uses a protocol called Consensus, which is a more centralised and efficient solution to reduce transaction processing times and costs. The ledger reaches consensus on all outstanding transactions every 3 - 5 seconds, much faster than SWIFT, Bitcoin or Ethereum.

The XRP ledger is maintained by independent participants of a global “XRP Community,” of which Ripple is an active member.


Is XRP Safe?

All cryptocurrencies carry a certain amount of risk, and XRP is no different. Although XRP uses cryptographic technology, which makes it more secure than standard debit or credit card transactions, there are still some risks involved. For example, you could lose all your money if the value of XRP drops to zero, you lose access to your wallet, or you are a victim of a scam or fraud. Additionally, very few exchanges allow you to trade XRP, so it might be difficult to exchange or convert it to cash.

What Makes XRP Unique?

The following characteristics make XRP unique:

  1. Speed.
  2. Enterprise use cases.
  3. Sustainable and eco-friendly.

What Is the Price of XRP?

The current price of XRP is £0.28 (at the time of writing). At any time, you can find the live price of XRP here.


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