Do you want to buy Ripple (XRP) with PayPal?
Ripple (XRP) is currently the third largest digital currency with a market capitalization of $ 12.74 billion.
Ripple (XRP) is the native token used by the RippleNet payment network. It is being developed by a private company called Ripple Labs.
Ripple works within the existing financial system and works with banks and money transfer services like Moneygram. It wants to replace the global interbank payment service SWIFT.
What is ripple?
Ripple is a little different from other digital currencies like Bitcoin and Ethereum. Some people even debate whether Ripple is a “real” cryptocurrency.
Bitcoin runs on a public (also known as permissionless) blockchain, while Ripple runs on what is known as a permitted blockchain.
As a result, Ripple uses less energy than Bitcoin and Ethereum, and Ripple offers higher performance. Ripple transactions take four seconds and XRP can process 1500 transactions per second.
While Bitcoin and Ethereum are being mined, Ripple is not. Instead, Ripple transactions are confirmed by a network of 140 validation nodes.
The XRP peaked at $ 3.84 per coin in January 2018. At one point, Chris Larsen, one of the founders of Ripple, was worth $ 37.3 billion.
Can I buy Ripple with PayPal?
Buying digital currencies like Ripple with PayPal is difficult.
Major exchanges like Binance and Kraken don’t accept PayPal as a payment method.
PayPal transactions can easily be reversed. Transactions with digital currencies, on the other hand, are difficult to reverse. This increases the risk of fraudulent deposits.
However, you can buy Ripple with PayPal through a peer-to-peer Bitcoin exchange like LocalBitcoins.
Now let’s roll up our sleeves and buy Ripple with PayPal.
Step 1: First steps with LocalBitcoins
If you already have a LocalBitcoins account, you can simply log in.
If not, you’ll need to set up a LocalBitcoins account.
Go to this page, enter your email address and choose a username and password. Enter the password twice and click on the CAPTCHA box that says “I’m not a robot”.
Then click on “Register”.
Check your email for a confirmation email. You have to click on it before you begin.
For more information on how LocalBitcoins works, click here.
You can also check your phone number with LocalBitcoins and upload an ID card. Traders are more likely to trade with verified accounts.
Step 2: Buy Bitcoin with PayPal
Now you need to buy Bitcoin with PayPal.
Do you see “All online offers” in the box? Click on it.
A drop-down menu will appear. Select “PayPal”.
Now click on the orange “Search” button.
This page shows offers from merchants who are ready to sell you Bitcoin through PayPal.
The price of Bitcoin (at the time of writing) on CoinMarketCap was $ 5,724.07. These merchants will charge you more because PayPal is a riskier payment method.
Every trader has two numbers in brackets next to their username. The first is the number of completed transactions by the merchant and the second is the merchant’s feedback rating.
You should look for merchants with high feedback scores who have completed a high number of transactions.
You can also see the price each trader is offering and each trader’s limits (minimum and maximum deal value).
6ndguy offers a good price in this example. If you want to buy Bitcoin from this dealer, click the “Buy” button.
Now read the instructions. Then enter the dollar value of the amount of Bitcoin you want to buy and click “Submit Merchant Inquiry”.
Step 3: Sell Bitcoin for Ripple
Next, you need to sell Bitcoin for Ripple.
Click on “All Online Offers” again, but this time select “Ripple Altcoin”. Then click on “Search”.
Here are seven offers from retailers. Select an offer and click “Sell”.
Then follow the retailer’s instructions.
You will need to give your Ripple address to the merchant.
You may already have one if you have a Coinbase account (even if you don’t have an XRP).
Go to Coinbase.
Scroll down and tap “XRP”.
That brings you to this page. Tap on “XRP Wallet”.
Then tap the image of a QR code in the upper right corner.
There you will see your XRP address. It should look something like this:
If you don’t have a Coinbase account, you can make a paper wallet.
Give this address to the dealer.
LocalBitcoins will hold your Bitcoin in escrow until you receive XRP. Once you get XRP, release the bitcoin.
Step 4: Sign up for the Bitcoin Market Journal
After you own XRP you can subscribe to our free weekly newsletter.
Our publisher John Hargrave travels the world and meets people from the blockchain and digital currency sectors. Every week he shares some of his findings in this newsletter.
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