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How to buy Ripple Coin (XRP) in South Africa

How to buy Ripple Coin (XRP) in South Africa

There has been a lot of talk recently around Ripple coin which has seen massive growth over the last couple of weeks. At the time of posting it is sitting around $2.57. It has been sitting around $0.20 for the last couple of months!

So what is Ripple? Best summed up answer I have found is from Wikipedia:

Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.

Essentially Ripple could become the way of the future for Banks to exchange and settle funds instantly. There are already banks talking to Ripple Network around the world, so I don’t think it will be long!

Yesterday I had a friend ask me how could he get on the Ripple train and buy Ripple Coin in South Africa.

There are a couple of options including from local exchanges (but this does come at a premium) or you can buy through a platform like Changelly

BUT, my preferred method is to buy through the Binance exchange. (I am really loving Binance at the moment if you haven’t noticed)
The exchange volume is increasing, and there are loads of people buying and selling, and the pricing is in line with all the other exchanges.

To get started you need to buy Bitcoin or Ethereum on Luno and then transfer it to your Binance Wallet. I prefer sending Ethereum as it is a lot cheaper and much faster to send.

Once you have your BTC or ETH in your Binance Wallet you can then use the XRP/BTC or XRP/ETH exchange to get your Ripple.

If you do buy Ripple, I would suggest just Hodling it and keeping it for a cash out in the future, I suspect it’s going to go big (NB. This is not financial advice)

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