Many of our users ask us how they can trade and buy XRP on our platform. While we do not list XRP, there are still ways you can use the iCE3X exchange to build up your XRP portfolio or any other altcoin for that matter. In this post, I will demonstrate how this can be done.
The name “Ripple” often refers to one of three things. This could be either: The company, the currency, or the network.
Ripple Labs is the creator of the Ripple Transactions Protocol (the Ripple Network) and the XRP cryptocurrency token. It is a privately funded company and they launched in 2012.
Ripple aims to provide:
“Secure, instant and nearly free global financial transactions of any size with no chargebacks”
They claim that their token transactions process is mere seconds. Currently, the Ripple network can handle up to 1000 transactions per second.
While all of these claims are reminiscent of Bitcoin, there are key differences. Bitcoin is a decentralized cryptocurrency token. It is a store of value and a means of payment. Ripple, on the other hand, focuses on a single use case. Sending money as fast as information.
Over the past few years, Ripple has been subject to some suspicion due to a few reasons. For one, Ripple is not a decentralized cryptocurrency. The ripple supply decreases over time, and their main focus is the banks and big companies, not consumers. Regardless, there are many ways consumers can buy XRP.
Below is a simple and quick step by step guide on how to buy XRP tokens.
Go to our cryptocurrency exchange and sign up for an account if you don’t have one already. Signing up for an account and verifying your identity will allow you to purchase Bitcoin with fiat currency.
CoinMarketCap has a great list of cryptocurrency exchanges if you’re looking to sell and buy XRP tokens. With this in mind, when searching for the best option, look for the BTC/XRP pair and sort the ranking by 24-hour volume.
Once you’ve found an exchange with the XRP price you’d like to pay for, send your bitcoin funds from your iCE3X wallet to the exchange you’re using. From there, you’ll be able to buy XRP tokens to your heart’s content.
The court case may take years. But if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too. It certainly doesn't look like a security to me, but that's just one person's opinion.
— CZ Binance (@cz_binance) December 12, 2018
Since the beginning, we have been keeping an eye on the progress XRP is making. We’ve been waiting for more use cases for XRP, and following its user adoption for a while now but until XRP proves itself as more than just a bubble, we will not be adding it to the exchange. If you want to buy XRP, you’re going to have to use another exchange until XRP proves itself to be a currency worth investing in as a consumer.
This article is intended to educate and should in no way be seen as investment advice or an enticement to use the ice3x.com platform. Bitcoin is highly volatile with big profit opportunities but you should also remember that you could lose part or all of your investment whenever you take part in any high risk investment. Bitcoin trading is not a regulated industry in South Africa, which in itself carries additional risks. IF YOU ARE NOT AN ASTUTE BITCOIN TRADER, SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING ANY INVESTMENTS.