If you are getting into new cryptocurrencies, like ripple (XRP), you might be wondering how to change your BTC to XRP, or ETH to XRP. And with ripple increasing in popularity, as well as worth recently, this might just be the investment opportunity you’ve been looking for.
Although Ripple is making its way around the world as it rises in value and popularity and has made some hefty profits for investors in the past years. It’s still not a hugely popular currency when compared to the likes of BTC, or ETH. So, why would you want to trade your bitcoin for XRP? Read on to find out some ways you can exchange your BTC or ETH to XRP as well as why on earth you would want to.
What is Ripple
Ripple has been changing the way money is transferred as well as the ways we receive money. Some people, believers in the currency, have even claimed that ripple will totally transform how we conduct business and banking, in general, all over the world. But why is Ripple so revolutionary?
Ripple Labs are the company behind Ripple Transaction Protocol (RTXP) and Ripple coin (XRP). What’s so great about the RXTP is the fact that it is a real-time transaction, allowing people to exchange funds despite their location or banks. XRP funds and runs the whole ripple network.
If you have tried to transfer money out of the country or across banks it can be a painful process, taking a ridiculous amount of time, with high fees. Ripple is a useful tool for people wanting to transfer money to people who don’t belong to their bank or even countries.
But, since banks aren’t going anywhere, despite how much hardcore Bitcoin believers wish they would, the best way to start making faster and cheaper transactions is in collaboration with banks. This is where Ripple comes in. Dozens of banks have already adopted Ripple into their system, including MUFG, SEB, Yes Bank, Cambridge Global Payments, and even more. Ripple is actually the first digital currency to be accepted by mainstream banks.
How to exchange BTC to XRP
In order to change your Bitcoin into Ripple, you’ll need a good crypto exchange, and a digital wallet to hold your cryptocurrencies. Since most of the following suggestions require little verifications by their users, it’s advised that once you have completed your exchange, that you immediately transfer your Ripple into a secure crypto wallet (preferably a hardware wallet) for safekeeping. It is considered risky by the community to store coins in any exchange wallet as you face the risk of having your coins stolen.
There are a few different exchanges available to change your bitcoin into a ripple, however, keep in mind you’ll already need to have bitcoin in a wallet for these methods. If you don’t have Bitcoin already, you’ll need to change your fiat currency (USD, Euro) to Bitcoin first.
If you want an instant exchange, you might want to consider Changelly. This is a highly popular crypto swapping platform that gives fast access to dozens of different types of digital currencies in exchange for your Bitcoin. No long registration processes and no ID required, simply sign up using a pre-existing email address and you’re good to go. With the competitive exchange rate and extensive transaction histories for good tracking, Changelly is a great go-to that’s fast and easy to get started with. All you’ll need to get started is some Bitcoin to exchange and an XRP wallet.
Another great BTC to the XRP converter is Binance. Originating in China, the company has been growing exponentially since 2017, benefiting both the investors and the founders. Binance is also considered the number 1 crypto exchange out there and offers 140 altcoins on its platform. You’ll need to transfer your BTC in order to exchange it for XRP. Binance offers a mobile app for crypto traders seeking convenience.
Hubio Pro is yet another world leader in digital currency exchanges. An offshoot for Hubio Global, this exchange has a great reputation and boasts over 250 currency pairs. With 3 different pairs for XRP available including XRP/BTC, XRP/HT, XRP/USDT. Again, you won’t need to provide any identification to Hubio before getting started on the platform, unless you want to unlock the right to higher withdrawal limits.
Among the top three exchanges for volume is Bitfinex, another great exchange for anyone looking to swap their BTC for XTP. Ideally, it is also among the top three for providing the XRP/BTC pair liquidity, making it the perfect place for trading Ripple. Bitfinex also has both IOS and Android apps for ease of use and convenience. If your priority is security and not haste, this might just be the exchange for you. As long as you’re willing to sacrifice up to 15-20 business days to Bitfinex’s extensive verification process. You’ll have to register and provide ample identification before you can start trading on this platform.
Ripple has increased in value and popularity in the past few years. Many are looking at this fairly new coin as a great investment opportunity. With a revolutionary transaction protocol, and as the first cryptocurrency to be accepted by the mainstream, established financial institutions, Ripple Labs are certainly changing the game.
Efficiency, convenience, and exchange rates are the most important factors to consider when looking into an exchange for a particular cryptocurrency pair. If you’re concerned about getting the best rate, it might pay to compare with an XRP calculator before choosing your exchange. Hopefully, this article will give you enough info to choose the right exchange for you. Good luck and happy trading!