Yes. The first step is to open an account with the exchange. The good news is that this is a fairly simple and straightforward process. Identity verification can take up to three days at most. Then, you can buy Ripple or anything else you wish. All they ask for is your email address and a username and password. You’ll be asked about your financial means and trading experience too. All of your information remains confidential.
Like on any exchange or platform, you’ll be asked to upload a copy of your driver’s license, passport, or another national ID. You must provide a copy of a utility bill or bank statement.
Before you commit to a real account, you can practice with virtual funds using eToro’s demo account. You must make a deposit when you’re ready to start trading live. The minimum deposit required is $100 or equivalent in another currency. However, this varies in different countries so you better navigate to eToro website and check the minimum deposit for your country.
You can deposit funds via bank wire, e-wallet, or debit card. The first method takes the longest – up to a week. You can buy Ripple as soon as the funds have been credited to your account.
To buy Ripple, do a search of XRP or Ripple in the search bar. You can trade it for USD, EUR, AUD, GBP, and CHF. You’ll be taken to the Ripple XRP instrument page, where you can probe it using information provided by other exchange members. There are also charts, statistics, and research. Press “Buy” whenever you are ready to buy an amount of Ripple. The site will pull up an order form. In this form, enter the respective amount you’re willing to spend on the coin. Then, click on the Open Trade button.
In spite of the controversy surrounding the XRP token and the high profile SEC lawsuit against the company, Ripple remains among the biggest and most interesting crypto projects in the world.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This communication is intended for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as a basis for investment decisions.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
