Investing in cryptocurrency has become a must for people who want a rapidly developing source of profitable money. In recent months, Ripple has almost gone up by a record 900% and is becoming a competitive equivalent of famous currencies like Bitcoins and Ethereum.
In such times, it comes as no surprise that willing investors are looking for the best Ripple Wallet to safely secure their currency and wait for it to turn profitable. This article will explain how Ripple can be purchased and stored for different purposes.
Buying Ripple
- Buying Through Institutions
Financial institutions and exchanges offer ripple for currency, most Euros and Dollars. These exchanges include Coinbase, Gatehub and Kraken, where you can simply sign up and start your exchanges with a minimal deposit. These institutions also act as wallets for your currency so you can be assured that your purchases are safe and easy to reimburse as real money when you want it. The benefit of using this way of buying currency is the assurance that it is backed by a legal organization.
- Buying from Brokers
As of yet there is no way to buy Ripple using a traditional brokerage account, which means that you will always need to go through heavy checks and balances. However, there is a way you can bring brokers into the image using your Poloniex account. All you need to do is buy Bitcoins from a broker and store them up in your Poloniex account, and then you can get it exchanged to Ripple within the account without any external transfers. The benefit of using this indirect route is that there is no need for you to keep a deposit in the official institution based account you make.
- Buying from Other Countries
If Ripple is not legally recognized in your country yet you are interested in buying it, you will have to register your account through a foreign country where it is a bit more official. The procedure might sound quite difficult, but it is worth it because Ripple is on the rise these days.
Storing Ripple
Buying ripple or getting it exchanged is not where your investment prospect ends. You need to have a storage medium that is reliable and easily accessible, and for that you need to have knowledge about Ripple wallets which can be registered and can even be brought as peripheral devices.
Before you register an account for all purposes, you need to be aware of how to withdraw real cash after converting it. In addition, you will also need to be aware of the online places where you can use the Ripple as a medium of exchange, but considering how cryptocurrency has not become a perfect substitute for real cash till now, you might not be able to use it directly.
All in all, you need to look for a Ripple wallet which offers complete protection and security using advanced security measures, so that any cases of theft can be avoided.