First of all, let’s have a brief introduction to ripple. Ripple is said to be both currency and a platform. Ripple platform is widely used for cheap transactions. Also, the ripple is fast and an open source. It has been predicted that ripple is going to be used for international transactions all over the world. The currency of ripple platform is called XRP which is a method to get information about the money transfer across the network of ripple. There are a lot of uses of ripple.
Uses of ripple
- Due to ripple, the currency exchange will become low. As the banks can’t convert any currency to other so they need some mediator in which the given currency is converted and after that, the mediator is converted into another currency. For example, banks use USD as a mediator and some money is required to convert any currency to USD and money is again needed to convert USD to other currency. Though ripple is used as a mediator it is somehow cheaper than USD.
- It takes comparatively less time than other options available for international transactions.
- Users can transact fast and cheaply by issuing their own currency.
How to buy ripple with USD?
There are two ways to buy ripple which are either directly or indirectly. The method of buying ripple directly involved buying it using debit or credit card or by simply buying it from a bank or through an exchange. However, buy ripple with USD is the best and easiest way. Other exchanges are not as good as it is.
Here are the processes to buy ripple with USD:
- Firstly, an account is needed to be created in Bitstamp by providing relevant information.
- The username and password will be sent to email.
- Log in to the account.
- Change the password when prompted.
- Verification of account done by filling relevant information.
- Upload the documents and click the hit button.
- Once verified, enter the account and click the deposit button on which the selection of the bank transfer method is possible.
- Fill the information needed by selecting “international wire transfer”.
- Use Bitstamp’s details to transfer funds from the bank account.
- After the transfer of funds, click the USD market.
- Go to “buy XRP” under “instant order” in “buy/sell” section.
- Go to “I want to spend” box and enter the amount needed to buy.
- Click “buy XRP’.
The whole process to buy ripple with USD is given.