Ripple-to buy or not to buy

Joseph asked 4 months ago

Last updated on April 9th, 2018 at 04:43 pm

What is the best way to buy ripple with USD and were should I place my purchase after I acquire ripple? Which exchange is best to use for the purchase?

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1 Answers
Steven Hay answered 4 months ago

Hi Joseph,
Well, I’m going to recommend Kraken exchange. Kraken accepts at least 3 types of fiat and multiple cryptos. They’re also fairly long-running and (as far as any outsider can tell) well-financed and reliable. The site does experience the occasional CloudFlare error but apparently they’re working on improving their service in that regard.
The best place to store your XRP is on the Ledger Nano S hardware wallet. It’s both secure and convenient, even for new users.
I would say that you should study Ripple… It’s highly centralised and the company owns between 20 and 60% of all XRP. It seems to me that the Ripple network may be of value to banks but I’m not convinced the coin will be of value to individual users (apart from speculation purposes). Just my 2c on XRP.

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