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A Complete Guide • Benzinga


After the initial success of Bitcoin, a private American technology company called Ripple Labs, Inc. decided to create its own trading, foreign exchange, and cryptocurrency protocol.

The name “Ripple” refers to three things: the Ripple network based on the Ripple Transaction Protocol, a cryptocurrency (XRP) and the company responsible for its creation. Unlike Bitcoin, which consists of a decentralized cryptocurrency, the Ripple remittance network is a centralized real-time gross settlement system. Its blockchain ledger uses the XRP cryptocurrency for payment networks and banks to settle transactions.

Ripple (XRP) ranks second in terms of market capitalization among digital currencies about a billion after Bitcoin, which currently has a market capitalization of 0.2 billion.

Overview: How to buy Ripple in the UK

As with other cryptocurrencies, purchasing XRP in the UK involves access to a cryptocurrency source, such as an exchange, broker or peer-to-peer network. Once you have made the decision to buy XRP, you must a single XRP-specific or multi-asset crypto wallet to store your currency.

On the other hand, if you prefer to speculate on XRP price movements without taking ownership of the currency, then you can open an account with a spread betting company or an online broker specializing in crypto contracts for difference (CFDs) like XTB, for example. In the UK, taxes favor profits from gambling and trading rather than long-term investment, because IInvestment profits are subject to capital gains tax.

Ripple’s XRP is also appealing to many people in the UK due to its low price compared to most other top coins. (XRP was trading at just £0.244411 at the time of writing.) Additionally, the XRP cryptocurrency is readily available on many UK exchanges and peer-to-peer groups. You will need a wallet specifically designed to hold XRP or a multi-coin wallet to withdraw your currency from its source. Check out our step-by-step guide to buying XRP in the UK:

How to buy Ripple in the UK

  1. Get an account on a cryptocurrency exchange

    To buy Ripple XRP in the UK, you first need to find a cryptocurrency source. The most common way to buy XRP is to open an account on a cryptocurrency exchange. The UK is lagging somewhat behind other, more active crypto markets, but the number of available exchanges and peer-to-peer groups specializing in XRP continues to grow.

  2. Get a cryptocurrency wallet (XRP)

    In order to maintain full control over your XRP purchases and holdings, you will want to withdraw the cryptocurrency you buy from the exchange or other source to a unique personal crypto wallet. A cryptocurrency wallet comes in several different forms and informs the network that you want to send and receive transactions.

    You can install a wallet on your desktop and laptop, as well as on an Android or iOS smartphone or tablet. Alternatively, you can use a web wallet that doesn’t require a download and allows you to access your cryptocurrencies anywhere with an internet connection. If you plan to trade XRP, you should either get a multi-currency wallet or one specifically for Ripple.

    Another type of wallet you can opt for is a hardware wallet, which consists of a device that plugs into a computer like a USB key. This type of wallet offers increased security.

  3. Withdraw XRP to your wallet

    Once you purchase XRP on an exchange or other source, you can withdraw the currency to your personal XRP or multi-currency wallet with a QR code. If you leave your XRP on an exchange, you are at risk of theft since you do not have control of your private keys and exchanges can be hacked.

    If you don’t have your XRP in your personal possession, you could lose your entire investment if the exchange you left it on is hacked. Withdrawing your XRP to a wallet is usually the most logical solution.

    Keep in mind that Ripple Labs charges a small reserve amount of 20 units of XRP to keep currency in a personal wallet. Once you have withdrawn your XRP from the exchange or other source, you have successfully purchased the XRP cryptocurrency from Ripple and can now use it for purchases, as a tradable asset, or as an investment.

List of Best Crypto Exchanges

You can view a partial list of exchanges that support Ripple’s XRP and are available to UK residents:


An international “instant” cryptocurrency exchange, Changelly allows its customers to purchase Bitcoin (BTC aka XBT), Bitcoin Cash (BCH), Ripple (XRP) and Ethereum (ETH) with USD or EUR. According to their website, Changelly offers the best crypto-to-crypto exchange rates in the industry. The company’s trading algorithm integrates with the largest cryptocurrency exchanges including Bittrex, Binance and Poloniex, among others and publishes the best deals and offers on its site. Deposits are charged a 5% Simplex Card Processing Fee with a $10 minimum and can be done with a Visa or Mastercard.

Popular wallets commonly used to trade XRP in the UK are:

Ledger Nano S

This popular hardware wallet supports over 40 cryptocurrencies, including Bitcoin (BTC aka XBT), Ethereum (ETH), and Ripple (XRP). The wallet chip provides a high level of security and has been designed to be similar to the chips used in passports and credit cards. The Ledger Nano S wallet protects your assets with a PIN.


This cross-platform XRP-specific wallet works on Windows, Mac, and Linux desktops and laptops, and it has a mobile version for iOS and Android smartphones and tablets. The open source software is distributed free of charge by StarStone Limited, based in New Zealand.


A universal multi-asset desktop wallet, Atomic allows you to purchase XRP with EUR or USD, as well as with your credit card. In addition to XRP, the wallet supports Bitcoin (BTC aka XBT), Ethereum (ETH), Litecoin (LTC) and over 300 other coins and tokens using a single interface. Transactions carry a limit of $20,000 per transaction.


A wireless hardware wallet, Bitfi wallet comes in a smartphone-like device and supports unlimited cryptocurrencies and crypto assets. The wallet allows you to manage all your cryptocurrencies on a single dashboard and provides complete security against online and offline security threats.


Coinomi wallet offers a single platform that supports many different cryptocurrency wallets and tokens. The wallet natively supports up to 125 blockchains plus 382 tokens for a total of 507 digital assets. Coinomi offers a mobile app for iOS and Android devices as well as a desktop version. The main advantage of this wallet is its ability to trade cryptocurrencies without fees.


This platform was designed for merchants who want to accept cryptocurrencies as payment and for anyone doing business online. It currently accepts 65 altcoins and serves over 230,000 providers in 182 countries. Additionally, Coinpayments.net supports popular shopping carts used by e-commerce stores, such as Opencart, Magento, and WooCommerce.

Final Thoughts

Buying Ripple’s XRP cryptocurrency in the UK is rather simple, but the exchange or broker you select matters the most. Knowing whether you plan to speculate in XRP or enter the market as an investor or spender will determine your best option.

The latter two will usually involve purchasing a wallet and opening an account on a crypto exchange, while players can open an account with a spread betting company like Money.co.uk. If you prefer to actively trade Ripple’s XRP price using leverage, then you can open an account with one of the many online brokers that offer cryptocurrencies on trading platforms such as XTB, e.g. example.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
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