A few days ago a mate of mine reached out asking me the following question: Can you buy ripple on Coinbase? The answer is no and yes. You cannot (currently) buy XRP on Coinbase, but you can, however, buy another cryptocurrency on Coinbase, transfer it to an exchange and trade the cryptocurrency for Ripple.
The interest in Ripple has grown tremendously during the year due to the price increase as well as that banks seem to love Ripple (read more on why banks love XRP here). In this article, however, we will not focus on what makes Ripple so good and why you should invest in it, rather we will show you how to use your Coinbase account to buy Ripple.
This method would definitely cost you more because you’d have to buy a base crypto like USDT on coinbase, send it to an exchange which lists XRP and then exchange USDT with XRP, you can rather directly buy XRP from exchanges like Binance or Gemini.
How To Buy XRP on Coinbase: Step by Setp Guide
1. Sign up to Coinbase (with our link you’ll get a $10 bonus when you spend over $100 with them)
2. Sign up to Kraken, Bittrex, Bitstamp or Binance (cryptocurrency exchanges supporting Ripple)
First, you deposit money into Coinbase in EUR or USD. If you already have some cryptos on Coinbase, this won’t be needed. Then, grab the Bitcoin public address from your cryptocurrency exchange, this is the address you will use to receive Bitcoins in the future as well.
Make sure that you don’t change the address in the slightest since sending Bitcoin is non-refundable and if you have 1 error in the code it might send to someone else’s wallet, and not yours. It’s advised to send a test amount of $1 to make sure it is working properly.
Once you have tested and sent over the amount to the exchange of your choice, it’s time to exchange that with XRP, best bet would be to buy UDST or USDC and then exchange it with XRP on Binance. And voilá, you have bought Ripple on Coinbase (sort of)!
Coinbase has suspended XRP listing due the ongoing SEC XRP case, as things are uncretain, it is not clear when Coinbase would enable buying XRP on their platform. I will keep update the article once some clarity emerges on this issue.
Why We Prefer Coinbase to Buy XRP?
High Trust Factor: Coinbase is among the first few exchanges which made it easy to buy and sell cryptocurrencies. They have a healthy user base of over 25 million worldwide. The interface is simple and buying XRP is simplified to the greatest extent possible.
Low Limit: While other exchanges have a minimum amount of XRP which has to be bought, the limit on Coinbase is quite low. This makes it Ideal for beginners to test the waters of cryptocurrencies without having to spend a lot of money.
Multiple Payment Methods: How many times have we abandoned an exchange because of payment issues? (I have quite a few times). Payment is not a problem here as there multiple ways to load your wallet. You can use a credit card, debit card or a bank account. One of those should get through, right?
Highly Secure Insured: Coinbase has the highest standards of security which safeguards your personal information and investments. In case anything goes wrong, they are even backed by insurance.
Having a Hard time Picking a Ripple exchange?
Read this tutorial on the best XRP exchanges so that you easily can find the best exchange for your needs (payment methods offered, fees, and good customer support for example).
Also, make sure to not keep all your capital on an exchange since it has a higher risk of being hacked than for example hardware wallets. Here you can find the best wallet for Ripple.
Have a good one!
Frequently Asked Questions
When will XRP be back on Coinbase?
There is no timeline as to when XRP will be back on Coinbase, as it depends on the SEC case, no one can provide a definite date. However, there are enough exchanges that allow you to buy XRP in the US, you can check our guide to know more.
Will Coinbase support Ripple?
Coinbase did support both buying and selling of Ripple (XRP) until the recent SEC case. The trading, buying, and selling is currently suspended on Coinbase. If you had purchased XRP on Coinbase earlier, you can still store it in their wallet.
Does Coinbase sell Ripple?
No, at the time of writing, Coinbase doesn’t sell or allow users to buy Ripple. It is uncertain as to when this will become active again.
Hektor was first introduced to Bitcoin back in 2017 when one of his clients paid him in Bitcoin. This got him curious and he started exploring services and products related to Blockchain and Cryptocurrencies. He started Bitcongress so that he could share his findings through in-depth guides on the platforms.