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Many investors are eyeing Ripple (XRP) as a potential lucrative investment due to its growth potential. However, Ripple cannot be mined, making purchasing it the primary method for acquiring this cryptocurrency. This article will explore a specific option: buying Ripple with Sberbank, a well-known bank in Russia. While the focus is on Sberbank, similar methods apply to other Russian banks like Tinkoff, VTB, and Alfa Bank, as the cryptocurrency market supports multiple bank cards for purchases. Given the ever-evolving landscape of cryptocurrency exchanges, it's essential to stay updated on available exchange directions.
Before delving into purchasing Ripple, it's crucial to determine where you intend to store your XRP, depending on your investment goals. The storage location plays a significant role in your strategy, so read more about Ripple storage options.
Method 1: Buying on a Cryptocurrency Exchange
If your goal is to trade Ripple (XRP), the most logical approach is to buy it on a cryptocurrency exchange. Globally recognized exchanges for trading Ripple at the beginning of 2020 include Binance, EXMO, Bithumb, Bitfinex, and Bittrex, with Russian language support. Notably, EXMO and Binance are popular Russian-language trading platforms. The registration process on these exchanges is relatively straightforward.
Binance, currently the world's leading cryptocurrency exchange, offers the convenience of trading cryptocurrencies paired with the Russian Ruble (XRP/RUB). Funding your exchange balance via a bank card is easy, and you can also withdraw funds to your bank card. Keep in mind that these conveniences require a verification process.
Binance's verification process is one of the simplest among cryptocurrency exchanges. They are not overly stringent about document quality, and verification typically takes just a few hours from document submission to verified status.
For detailed instructions on how to buy XRP on the EXMO exchange, visit [link]. EXMO supports transactions using Visa and Mastercard payment systems, as well as bank transfers. However, you'll need to complete a verification procedure to connect these payment methods. Without verification, you can still top up your balance using the most convenient available method and then purchase XRP directly on the exchange. Storing your assets on an exchange is convenient for quick trading but comes with lower security compared to other storage options.
Method 2: Purchasing Through Online Exchangers
Buying cryptocurrency through online exchange offices offers two primary advantages: some exchangers do not require verification (or sometimes registration), and you can choose a bank or electronic system that suits your convenience for purchasing cryptocurrency.
Exchanges offer a wider range of currencies and tokens, while exchange offices provide more funding and exchanging options. When choosing this method, it's essential to decide where you'll store your XRP since you cannot leave your currency on exchange sites. After purchase, you can store your coins in an online wallet or a Ripple hardware wallet, which is safer for long-term investing.
To select an exchange office, consider using the popular monitoring system, Bestchange.ru.
- On the site's main page, in the green table on the left side, choose the exchange direction: select Sberbank under “Give” and Ripple (XRP) under “Receive.”
- The right side of the screen will display a list of available exchangers offering the most favorable rates at that moment, updated every 5-10 seconds. The list of exchange offices is extensive. When selecting an exchanger, take note of several factors, including the exchange office's rating based on the number of reviews (typically advised to choose an exchange office with at least 500 reviews), any additional requirements, minimum exchange amounts, and the exchange fee.
Select the most suitable option from the list, either based on price per coin or familiarity, and proceed with the exchange. It's essential to have an XRP wallet address ready, as you cannot store your currency on exchange sites.
Purchasing Ripple (XRP) with Rubles is a straightforward process, with options ranging from cryptocurrency exchanges to online exchange offices. Choose the method that aligns with your investment goals and consider your storage strategy to ensure the safety and accessibility of your XRP holdings. Stay informed about changes in the cryptocurrency market to make the most of your investment in Ripple.
