As investors investigate purchasing the Ripple network’s digital coin, “How to Buy XRP in the Coinbase” is trending on Google. XRP, on the other hand, isn’t as freely available as it formerly was.
Ripple has been adopted by financial institutions such as American Express (AXP), Bank of America (BAC), Citigroup (C), HSBC Holdings Plc (HSBC), JPMorgan Chase & Co (JPM), Royal Bank of Canada (RY), UBS Group AG (UBSG), Wells Fargo & Co (WFC), Western Union (WU), and others, according to the company’s website. It’s worth noting that most banks use XRP instead of fiat currency for cross-border payments.
Coinbase has removed XRP from its cryptocurrency portfolio in light of the Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs (the company behind XRP). You can’t buy XRP on Coinbase right now, but there is a legal workaround that will let you to do so.
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What is Ripple, Exactly?
In 2022, a number of digital currencies, such as Dogecoin and Ethereum, will provide investors with attractive returns. At the current time, Bitcoin is not the only cryptocurrency worth investing in.
Ripple, also known by its ticker code XRP, is a cryptocurrency that, in terms of privacy and decentralization, is the polar opposite of Bitcoin.
In 2022, Ripple Labs created XRP as a way for banks, FX investors, and other financial institutions to move money fast.
This Crypto, unlike others, works more like SWIFT, a currency designed for international fund transfers.
In 2022, Buying Xrp on Coinbase
- Coinbase is one of the most straightforward, secure, and straightforward ways to trade cryptocurrencies.
- Coinbase is available as a website and a mobile application.
- If you have an Android or iOS device, you may download Coinbase from the respective app stores.
- Before you can do anything else, you must first create a Coinbase account.
- You’re ready to trade cryptocurrencies after successful account creation.
- On the other hand, XRP cannot be traded on Coinbase.
- That means you can’t trade it for anything else.
- At this time, it is not possible.
- XRP is displayed on both Coinbase and Coinbase Pro, but you can only see the price chart.
- XRP trading has been suspended in the United States, New York, the European Union, the United Kingdom, and Canada/Singapore as a result of the SEC’s recent action against Ripple.
- This is true for both Coinbase and Coinbase pro.
- Additional information is accessible on the Coinbase support website.
On Coinbase, You Can Sell Xrp
- As a result of the SEC’s action against ripple, XRP trading has been prohibited as of January 19, 2021.
- Ripple cannot be traded on Coinbase.com, Coinbase.com Pro, or the Coinbase mobile app.
- Users with XRP on their accounts can still check their balances, make deposits, and send XRP to other users.
- You can transfer XRP to another wallet if you have a lot of opportunities to sell it for a profit or if you no longer want to keep it in your Coinbase account.
- Coinbase also grants XRP holders who meet the requirements an airdrop of sparks tokens.
When Will XRP Be Available on Coinbase Again?
Only one piece of information is available on the official Coinbase website: XRP trading has been halted until further notice.
It is uncertain when the lawsuit will be resolved and what the court’s decision will be at the time of writing this entry.
As a result, we have no idea when XRP will be available on Coinbase again, at least for the time being.
Coinbase does not sell XRP directly as of this writing. The SEC accused Ripple Labs of illegally raking in more than $1.3 billion in profits by issuing digital-asset securities that were not registered with the SEC, prompting Coinbase to ban XRP trading on January 19.
Every platform has its own approach to things. Some platforms are quite simple to use, while others are not.
In general, buying crypto with a fiat currency like the US dollar is easier than buying it with another cryptocurrency.
If you need to buy XRP with another cryptocurrency, you’ll need to first build an XRP-compatible crypto wallet, then buy the first currency and use it to buy XRP on the platform of your choice.
Most platforms have guides if you get stuck. If they don’t, there is a thriving community of crypto aficionados who have undoubtedly provided guides on YouTube, Twitter, and other social media platforms.