📈 Pricewise Vaido Veek

Crypto Market Analysis: October 12, 2018

Pricewise
Bitcoin has found some sort of support, NEO can start to approach the 2018 low level, TRON is the strongest coin on the market
Crypto Market Analysis: October 12,  2018
Contents

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Looks like Bitcoin has found some sort of support

After yesterday's downwards movement the market has been silent. There were some movements downwards in the night (UTC+3) but nothing remarkable, and now, the prices are the same as they were in yesterday's evening.

Looks like Bitcoin has found some sort of support

Currently, BTC has found a support area from $6,250. It made several attempts to go through this but only 15-minute candles are closed below the mentioned level. Higher and important time frames are all rejected upwards from $6,250. So, the chart has collected some data and the support is confirmed.

The last four-hour candle was very bullish and we can see a bullish candlestick pattern which is called "Engulfing". The Engulfing pattern consists of two candles and the last bullish candle 'eats' the previous low candle completely. Those candlestick patterns are usually very good when they are on the strong support or resistance area. Currently, it is a confirmed support area and let's see how it plays out.

To see a bullish BTC we need to witness a Bart move — a quick move downwards, a little consolidation and a quick move upwards. On the other hand, in order to confirm a bear trap, we need to see an upward movement today. Postponement to the weekend will bring a low percentage due to very low volume on weekends.

At the moment the price has formed a Bullish Engulfing pattern and the reason to go higher is solid. However, if we get a one-hour or a four-hour candle close below the $6,235-$6,250 then it is a bearish confirmation and we could see another 'leg' downwards.

NEO (NEO/USD) could start to approach the 2018 low level

Almost all the altcoins have made a breakout below the major counter-trendline which indicates bearishness and at the moment NEO is 13 percent down from the yesterday's crash and it trades below the mentioned trendline and below the support levels.

NEO (NEO/USD) could start to approach the 2018 low level

It has broken all the important support levels and the only one that is left is an August low level which is also 2018 lowest point at $13.68. If the market doesn't show us a power which will guide us to the higher prices then NEO will start approaching the 2018 low level.

Around this area are also Fibonacci extension levels, at $14.27 there is a 141 percent extension and at $13.33 there is a 161 percent extension.

To invest into the NEO is a bit risky because the current bounce came from nowhere and we don't have a clear picture of what it could do next and currently NEO price movement depends very strongly on Bitcoin movement.

TRON (TRX/USD) is the strongest coin on the market

One of the strongest coins on the market is TRON. Yes, it also came down pretty sharply as all altcoins did but the price action is wise and technically Tron has a very good shape. Some altcoins printed new 2018 low (ETC) and some of them are approaching the 2018 low levels, but not TRON. It is far from the 2018 low point and it has multiple strong supports before that level.

TRON (TRX/USD) is the strongest coin on the market

It can sound unbelievable but the current bounce came from the new higher low (HL) area. This is a big statement and shows that Tron is 'healthy'. Besides that the bounce came from the new HL area, there is also other criteria: the golden Fibonacci retracement level 62 percent and the trendline since June 19, which worked nicely as a support after a breakout above the trendline on Oct. 4. We can say that this was a retest.

If the bounce momentum continues then the next resistance is the March low, the counter-trendline and the 200 EMA crossing area at $0.0228. If the price manages to push through from the mentioned levels then it is out of the danger zone and back above the 200 EMA and above the major counter-trendline which will indicate that the momentum will continue and we go and retest the green area above the current price.

Here are dangers also, the resistance — crossing area — is pretty strong and if the market doesn't show the power to go upwards then it can mean that we go and test the lower levels and the major supports which are marked with red boxes.

📈 Pricewise
views
👓 Recommended articles
Alexander Goborov

Starting a Blockchain Business: DLT 101

While some bemoan the pains of the bear market, some see it as a big opportunity: here is our short guide on what to consider when starting a Blockchain business
Starting a Blockchain Business: DLT 101
Contents

With the market still down, some less experienced crypto folks may see it as a sign to pack up and head home. We’re done here, they say... In fact, nothing could be further from the truth. To reuse one of John D. Rockefeller’s most famous quotes:

“The way to make money is to buy when blood is running in the streets.”

Now is as good a time as any, or perhaps even better, to invest. And bear in mind (no pun intended) that Blockchain and DLT are not the same as cryptocurrencies. Granted, digital coins are based on the Blockchain technology, but that is not to say you must become a crypto trader in order to become a Blockchain/DLT business owner. One can have a lot to do with the Blockchain and have virtually nothing to do with Bitcoin.

Understand the Technology

The importance of this initial step on one’s journey to success cannot be underestimated. The very first rule of investment is not to invest into anything you don’t know, so before leaping ahead make sure you fully understand what you are getting yourself, your partners, and your customers into.

And remember, just because you happen to own some digital cash, which your friends probably talked you into buying, does not mean you understand the actual technology behind it. One needs to be diligent and do their homework first, only then will there be a feasible chance of success.

Here are some basics to get you started:

Centralized vs. Decentralized network

The image above published in 1964 by American engineer Paul Baran in a research paper which examined distributed communications is probably the first depiction of the decentralized nature of Blockchain/DLT networks. Incidentally, also note that, while some computer scientists may disagree, here we are treating Blockchain and DLT (Distributed Ledger Technology) as being interchangeable terms for simplicity purposes.

In a nutshell, Blockchain/DLT is basically the storing of data in a block which is then linked or “chained” to another block, thereby forming a chain, which becomes almost like a digital conga line. The key feature of this type of technology is that there is no one center as such, and, hence, the network is ”scattered” or “distributed”.

What we have in Blockchain today is the result of three pivotal concepts with their original authors listed in parenthesis:

  1. Public-key, i.e. asymmetric, cryptography (James Ellis, 1970)

  2. Cryptographic hash function, i.e. data mapping (Ralph Merkle, 1979)

  3. Proof-of-work protocol (Cynthia Dwork and Moni Naor, 1993)

All three were synthesized by Satoshi Nakamoto in his groundbreaking 2008 paper, which paved way to Bitcoin. The new payment system proposed to use a digital ledger of records arranged into chunks, i.e. blocks, which would be verified by those involved through proof of work and linked together using crypto validation. And since hash functions are used, any input of data can be represented via an arbitrary 256 character output.

This may be puzzling to a non-computer scientist. But if there is one lesson that should be learnt by everyone here is that Blockchain is not a business model but rather a pioneering method of exchanging and storing data, nothing more.

Recognize What It Can and Cannot Do

What Blockchain/DLT has is this: data are not stored in any one place since there is no network center as such. The whole mechanism thus becomes arguably more transparent and efficient. While some are claiming that Blockchain/DLT is the future of mankind, which in some ways it might be, it is certainly not a universal answer to all of today’s technological obstacles, let alone commercial ones. Nevertheless, surely this technology can be useful in the following ways:

  1. Storage, ease of exchange, and protection of data:

Vast amounts of data can be stored securely, in pretty much any format, and shared only when necessary, only with selected parties, whether a company or individual. Applications can range from filling out and notarizing forms to setting up user accounts. Digital signatures and public/private keys are used to access this information. As a user, you get protection. As a business, you get that, plus you save a great deal of time.

If, for example, some important document gets misplaced along the way, say in an international cargo transportation scenario, it can delay the whole process enormously in a traditional commercial setting. In contrast, this would not pose a problem in a Blockchain setting, as every transaction and contract would have a permanent record, instantly accessible by everyone concerned. Furthermore, because of the aforementioned hashing, the fact that a document has not been tampered with in any way can also be easily verified.  

    2. Payment systems and financial management:

While obviously they have a lot to do with the first notion as well, this is where crypto coins really come in. Paying bills, making exchanges, buying, selling, investing, saving for retirement, you name it, all of that is possible through a tokenized system of altcoins (made by the network itself, with their own value) or stablecoins (which are a pegged in value against fiat currencies, e.g. USD).

Because of the nature of the chain, i.e. each block numerically referencing a previous one, all of the transactions are set in stone with records kept all throughout the network, so the same unit of digital cash can never be spent repeatedly. In other words, you can never send or receive the same digital dollar twice, which makes transactions both fast and secure, and, crucially, without any intermediary looking on, e.g. a bank.

    3. Smart contracts:

These are basically automated business processes, which are currently being developed and fine-tuned. Rather than having to follow through every step by hand, as it were, you let the process run itself completely.

For example, you as a business want to buy 10 tons of blood oranges from Spain. The other party claims that they can find the product and deliver it. You agree on the sum, which has been reserved on the Blockchain, and on the conditions that have to be met in order for them to receive the payment, e.g. exact species of fruit, the weight of each one, form of delivery, due date, etc. The rest is pretty much code. Now the contract does the work. If the conditions are met, the payment is sent; if not, the contract is void.

This is, no doubt, a more efficient way of doing business, which becomes yet more apparent when you consider that many companies have to deal with thousands of such contracts simultaneously.

Find the Right Team

This may come as a surprise to you, but according to one fintech executive:

“The number one issue facing the Blockchain industry today is a lack of talent.”

While salaries offered to developers are going up as these individuals are much sought after, the professionalism of output does not always follow. The reason being is that businesses, especially smaller ones, often hire freelancers or sometimes simply friends of friends to write code for them. So, whereas lucrative offers and individuals willing to take them up are in abundance, at the same time, the number of those who can execute Blockchain type programming truly well is, in fact, comparatively low.

If your business, for example, wants to develop a smart contract to be run on Ethereum or perhaps a dApp (decentralized app), then your programmer must be Solidity literate. While this programming language is syntactically similar to the now ubiquitous JavaScript (i.e. in terms of symbols and commands), it differs from the latter in important ways, in that the architecture of the system itself is different, and the programmers need to be well familiar and experienced with what that difference entails.

According to some experts, in order to get a solid dApp ready―clean, dependable, and fool-proof―a business would need to hire at least two teams (or more) of at least five programmers in each one (or more). That’s already 10 individuals, as an absolute minimum, who must know a whole lot not just about programming but about the Blockchain technology. Finding those can often be a huge challenge, especially on a limited budget.

Take Your Time

If you’ve done a substantial amount of thinking and are now ready to start your Blockchain business, you should not rush. The first thing to do now is to go back and double check that you actually have a clear picture in your mind of what you are going to do, how, and, importantly, why. Another concurrent thing is staying up-to-date: this field is modern and not at all static, so you constantly need to keep your eyes peeled for where the latest developments are being assembled.

At the same time, remember that not everyone in your camp, be they partners or customers, may be on the same page with you, which is especially true of incorporating DLT into existing businesses. What you should absolutely not do is pressurize people. They will come around soon enough, once the picture in their heads is as clear as it is in yours. And if they don’t, perhaps they have their reasons; after all, not every business needs this type of technology. You should be honest with yourself and those around you about your goals and intentions.

Tenacity and patience are also crucial when it comes to executing your goals technologically. Not only should you not trust any third-party software whose origin or indeed true function you can’t distinctly verify, but also, if you are building something of your own, you need to test and retest many a time before proceeding with a launch. And of course, even before that, the team itself has to be put together first, as mentioned earlier, which can take a while. Haste makes waste, no doubt about it. And the repercussions of rushing to drive an underbuilt, three-wheeled car can be very serious.

Conclusion

If you want to start a Blockchain business or re-frame an existing one, you need to understand which processes exactly you want to position onto the Blockchain. This understanding can only come as a result of your understanding of the underlying technology itself. Once you’ve understood what this technology is capable of and which of your business processes can be DLT-based, you need to work out precisely what benefits will be supposedly brought to your business, new or old, in the aftermath of this decision, as opposed to having the whole thing run “traditionally”.

Finally, remember that Blockchain isn't going to solve all your business problems. Some (or even many) issues this technology simply cannot tackle. DLT isn’t some sort of digital magic serum that cures all. At the same time, this technology also has its drawbacks. In certain cases, cyber attacks are actually more likely to penetrate decentralized systems with its smaller digital fortresses compared to one giant fortress of a centralized system with its thicker and taller walls. So, while some types of security are definitely there with the DLT, this technology is not immune to breaches and violations either. Nothing is ever absolute.  

Be that as it may, DLT/Blockchain can certainly be a giant game changer for some businesses and even whole industries, so if you are up to the task, find the right people and the right tools, and go for it.

💼 Related Article
Bureaucracy as an Indicator of Unsustainable Vertical Complexity
🔥 Hot
1 month 2 weeks
256
Bureaucracy as an Indicator of Unsustainable Vertical Complexity

views
👓 Recommended articles
🤷 Opinions Alexander Goborov

The Market's Down, but No Need to Panic: Consider Both Sides of the Crypto Coin

Opinions
Many claim we’re in a pretty pickle, but there’s no reason to scream Mayday yet: the big picture remains reassuring
The Market's Down, but No Need to Panic: Consider Both Sides of the Crypto Coin
Contents

Some of the present market’s indices appear rather alarming: the bear does tend to roar and stomp. But exceedingly more alarmingly, some experts view it as the green light to peddle pessimism and panic to all around. While, for aught we know, this is but a phase, and must be taken as such. Traders should probably be less reckless, newcomers more vigilant, but the market isn’t going anywhere: it shall recover soon enough. Don’t sweat it.

Signs of the Supposed Crypto Armageddon

Bitcoin is down to around 5 500 USD, the lowest figure in over a year. To make matters worse, Bitcoin’s market cap figure has dropped below 100 billion USD, also for the first time in over 12 months. The past 24 hours have seen a decrease in total crypto market capitalization numbers by more than 30 billion USD.

Tether, being a stablecoin pegged to USD, saw a drop in its price on Kraken, where it trades for fiat. In addition to other factors, because of this compromised parity, crypto exchanges that trade against Tether, e.g. the Hong-Kong based Bitfinex, have seen the price of Bitcoin move down against the USD in return.

The fork-riddled Bitcoin Cash, which is about to be split into two separate altcoins (core/ABC and Satoshi’s Vision), Ethereum, and Ripple are all seeing declines of up to 12% a day in their values on the market. As a by-product of this freneticism, Ripple (18.7 billion USD) is now in second place by market cap after Bitcoin having recently surpassed Ethereum (18.35 billion USD).

The Bright(er) Side of the Coin

It’s important to understand that any industry, any financial sector, any economy will go through a period of stagnation and recession. There have been numerous examples of it from the Revolutionary War to the Great Depression. Heck, the Blockchain technology itself emerged in the aftermath of the 2008 global crisis. Lows give way to highs and improve the nature of the market in the process. It’s inevitable.

At the same time, even in today’s dire crypto-economic conditions, many vital indicators tell a positive story nonetheless. While there may be problems with diminishing cryptocurrency market cap values and falling prices on exchanges, the big picture is not solely a grey one. The Blockchain market itself is growing regardless, and it is projected to continue doing so in the future.

The Blockchain market

One of the very reliable sub-indicators of the fact that it is happening is the number of crypto wallets, which is growing by the day. Too promising a figure for those trapped in quicksand, surely.

 the number of crypto wallets

Furthermore, the ICOs are not vanishing, quite on the contrary. In spite of the Chinese government’s ban on this type of fundraising, the global figures are going up, which has been corroborated by numerous independent publications.

the ICO

Concurrently, some of the economic trends, however fragmental, are still bullish; Bitcoin, for one, until very recently, has been demonstrating a great deal of stability, and where longitudinal volatility is low, the whining voices should perhaps be tactfully sidelined.

All in all, despite the pressure and the stress, there is little time for poor-me-ness right now, when the overall crypto aura is that of vigor and, as mundane as it sounds, hope: after all, right this very second, whole crypto communities are working on new and yet newer ways to crypto-revolutionize the world and change the very nature of modern economy, from payment methods to employment.

Afterthought

“Abandon your posts! Flee, flee for your lives!”

image

A memorable line borrowed from Denethor, the infamous character from The Lord of the Rings trilogy. And we all know how that strategy worked out for him. Not too well really...

Instead, perhaps we should follow Gandalf’s orders and prepare for battle, the crypto battle that never ceases, be the market bear or bull. And yes, right now we are indeed in a bear market. The prices are plummeting, the grip is becoming weak: this is the very definition of it.

In actuality, all this means nothing more than the fact that the bull market has got to be on the way, its eager horns already glaring through thick mist somewhere in the distance. It’s coming. Despite the rocky road ahead, sooner or later, it is. In the meantime, keep your head above water and do not overdramatize. Be Zen. It’s going to be fine.

🤷 Opinions
views
👓 Recommended articles
Wikicoin George Shnurenko

Hot Wallet vs. Cold Wallet: What the Different Storage Methods Do

📚 Wikicoin
As we utilize cryptocurrency more, it is expected that we devise a more effective means of storing currencies
Hot Wallet vs. Cold Wallet: What the Different Storage Methods Do
Contents

The traditional system of banking has taught us one crucial lesson- the business of securing your money is an important one. That’s why banks have bullet-proof doors, security guards, ultra-protected safes, sophisticated biometric scanners and sensors, etc. Thankfully, the major drawback of financial systems, human interference, has been eliminated by Blockchain decentralized systems.

Now, you can operate a financial model which eliminates dubious middlemen, exorbitant transfer fees and super-fast transaction speed. Cryptocurrency made all these possible. How do you store these cryptocurrencies? A cryptocurrency wallet!

What are cryptocurrency wallets?

Just like a conventional wallet where you keep your cash, a cryptocurrency wallet is a means by which you store your digital coins. There are two different types of wallet. We have the hot wallet vs. the cold wallet. Each wallet has its advantages and Achilles heel and choosing the best wallet is only a matter of getting adequate information on each. Let’s begin.

Hot/cold wallets

Hot wallets

Hot wallets or soft wallets are likened to checking accounts- where individuals can readily access their funds, make payments, and make instant transactions. It is always connected to the internet and this ensures accessibility. However, this particular feature can be a harbinger of misfortune.

A hot wallet is always connected to the internet and this gives some individuals with malicious intent ample time to perpetrate their fraudulent activities. Occurrences like phishing and hacking are now becoming increasingly prevalent, hence, it is advised that crypto-users limit the amount of funds they store on a hot wallet.

There are three main features of a soft wallet.

  1. It is mostly free

  2. It is easily accessible

  3. A soft wallet is highly intuitive and easy to use

  4. A soft wallet is always connected to the internet

Cold wallets

Cold wallets, on the other hand, are more secure. This is partly because it is not used as often as a hot wallet. Also, the security can be attributed to the fact internet connection is not direct (it is an offline storage). If you like, you can access the funds only once a year- it remains intact. Cold wallets can either be paper wallets or hardware wallets.

Paper wallet

Storing your coins in a paper wallet is likened to storing your coins on a computer which has never been connected to the Internet. These are extremely secure due to the fact that the computer used to generate the private keys are not prone to cyber-attack. It is as good as free and it gives you confidence that your funds will remain safe for a very long time.

Hardware wallets

When you compare cold wallets vs. hot wallets, the former might probably come out superior because of the security features of hardware wallets. They are powerful, convenient, and equally expensive. Although they are not as ubiquitous as their hot counterparts, these wallets are an excellent choice.

Comparison of hot and cold wallets

Now, let’s go through the different features of hot and cold wallets. Both wallets were built for different purposes, hence, this comparison will be as objective as possible.

Safety

When we talk about safety, a hot wallet is not totally the best choice. This is because it is always connected to the internet and this makes it vulnerable to hacking, phishing, etc.

Speed of transactions

Hot wallets are specifically made for instant payments, fast transactions, and flexible operations. Cold wallets, on the other hand, are made to hold large amounts of coins for a long period of time. When we compare cold wallets vs. hot wallets, the latter offers faster transaction times.

Support and integrations

Because of the nature of hot wallets, they are made to support a variety of coins, work well with APIs and other third-party integrations required.

Amount of funds operable

We have adequately established that hot wallets shouldn’t contain more funds than necessary while cold wallets are able to hold as much cryptocurrency as possible. This makes cold wallets superior for storing in bulk.

Types of hot and cold wallets

Hot wallets

1. Exodus

There are many crypto-wallets in the market, especially hot wallets. One feature which allows Exodus to stand out is the highly intuitive and easy to use the platform. It also has an attractive graphic design and a readily-available customer service team.

2. Coinpayments

This hot wallet supports over 75 cryptocurrencies, an astounding feat by any measure. Like most hot wallets, it is free and not cumbersome to navigate. Another reason for this wallet’s widespread acceptance is the ability to use it for making purchases online.

3. Electrum

Electrum is one of the oldest brands known for storing cryptocurrencies. If age is anything to go by, you can trust Electrum with your life’s savings. It works as a desktop wallet and still provides the user with every functionality required. Also, if you plan to change the PC on which it was installed, you just need to reinstall the software on a new PC and then input the seed (a string of random words) generated at first.

4. Blockchain.info

Blockchain.info, with 100 million transactions completed and 15 million users, might just be the most popular cryptocurrency wallet available. Why is it this popular? Transparency! They give you a double layer of security and they are impervious to the generated seed used to access the account.

Cold wallets

1. Trezor

Trezor, in a short while, has become one of the safest and most reliable cold wallets we have around. For people who have plans to invest huge sums of money in cryptocurrency, the Trezor is advised. The best characteristic of the Trezor wallet is that it is not cumbersome to carry about. It takes the shape of a very small digital calculator and it has an in-built screen which displays the pin and other sensitive information.

2. Ledger S Nano

This is another major player in the cryptocurrency industry and they offer the same level of security with an increased level of sophistication. For example, it uses its own Ledger Chrome application- which authenticates and authorizes transfers. The hardware wallet also boasts a sleek, trendy design which, like Trezor, has the screen to view the pin.

The battle of cold wallets vs. hot wallets is one which is fiercely contested. Is there a clear-cut winner? Well, that depends on your choices and preference. If you need cryptocurrency on the go; for payments and shopping, then the hot wallet is perfect for you. On the other hand, if your business is to purchase cryptocurrencies for a long period and then sell later, you can spare a few coins to invest in a quality hardware wallet.

Wikicoin
views
👓 Recommended articles
Coins Guide George Shnurenko

How to buy Ripple (XRP) in USA: A Step-by-Step Guide

🎓 Coins Guide
One can’t still buy Ripple via credit card in the USA – no direct way exists.
How to buy Ripple (XRP) in USA: A Step-by-Step Guide
Contents

How many Ripple coins can we buy?

XRP - Ripple’s token, was issued in some kind of similar way like companies issue stocks. It isn't mined like other digital coins: Ethereum, Bitcoin and Litecoin. The company picked some number (100 billion) and many XRP coins were issued as a result.

Ripple own 61 billion of this 100. To win the investors’ trust, Ripple has blocked 55 billion of them via 55 smart contracts (1 billion is held by 1 contract). Every month as date of expiration comes, the corresponding amount releases.

The company spends about 300 million XRP per month to cover operating expenses. Such operational transparency should convince skeptics that Ripple does not plan to disappear, selling its stocks and thus destroying the XRP price.

How to Buy Ripple

One can’t still buy Ripple via credit card in the USA – no direct way exists.

Coinbase

Wherever you are located you need to purchase Ethereum or Bitcoins first and then convert them to the Ripple.

The easiest way for USA residents is Coinbase – use credit card with USD.

Having got ETH or BTC, you can also use Binance for converting them to Ripple. It will take you about 10 minutes. Due to its good volume, it is considered to be best place for Ripple to be exchanged.

If you are from Canada, USA or European countries as well as from Australia or Singapore – you can use Coinbase easily.

Kindly get acquainted with Coinbase guide.

BitPanda

This resource features brokerage service based in Austria. From most European countries one can purchase Ripple on BitPanda via credit cards. See our review of this service. CoinMama

Kindly read our review of CoinMama. The portal eases the purchasing of Ethereum or Bitcoins via credit card. You can do it almost from any point of the world.

As you get ETH or BTC, you can convert them to XRP - Binance will help you.

Buy Ripple with Bank Account

For USA residents: if you use your bank account:

  1. Come back to Coinbase or similar one for buying BTC or ETH.
  2. Visit Binance to convert the received Ethereum or Bitcoins into XRPs.

For Europeans – you’d better use BitPanda. In case of your location in any other country, visit our home page in order to find a Bitcoin exchange suitable for your country with bank transfer support. After you purchased Bitcoins convert them to Ripple. It will take you less than ten minutes. Getting a Ripple Wallet

You should never store your XRP on an exchange – it is the way for your values to be stolen. Take control under withdrawal - your XRP needs to be got out to any secure offline wallet for example Ledger Nano S or similar. Kindly read our Ripple wallets’ guide. Buy Ripple with PayPal

Unfortunately there is no direct way to purchase buy Ripple with PayPal – you will be to buy Bitcoins first using PayPal and proceed converting them to XRP (Binance will help).

Buy XRP with Cash

There is also no way for direct buying XRP with cash. Less than 1% cryptocurrency ATMs support Ripple.

The algorithm is the same - buy BTC with cash and then convert them to XRP via Binance or some service like this. Buy Ripple with Bitcoin or Etheteum

If you need to exchange BTC or ETH for Ripple – go to Binance, this is the simplest way. Buy XRP with Skrill

Via BitPanda all those living in Europe can buy Bitcoins or Ethereum with Skrill. And after that they are to visit Binance to make exchange of the received digital coins into Ripple. Buy Ripple (XRP)

The Ripple creators aimed to create the "Machine" providing fast transfers of great money sums all over the world. Being claimed as great platform, Ripple focused on cooperating with banks and as a result their immediate global payments became more easy and effective. It is not too late to join us as the current Ripple price of 0.5$ allows it to be purchased for almost every of you. The price can change immediately - its recent level achieved 3.00$. The next big move is oncoming! How to Buy Ripple

You can buy XRPs only with BTC OR ETH - no more currency is suitable for it (we mean US dollars or Euros and others). You are to visit only cryptocurrency exchange to get some XRPs.

In case you don't have any idea how to start the process of converting fiat currency (dollars/euros/yen/etc.) to BTC or Ethereum, follow our guide - there will be explained how to buy Bitcoins or Ethereum. After that you are welcomed here to proceed.

In case you are skilled crypto expert, skip to next page of our tutorial to learn process in detail.

Here are the best addresses for buying Ripple:

  • Changelly
  • Binance
  • Bittrex
  • Bitstamp
  • Kraken

How to Buy Ripple on Changelly

This service also allows you to buy Ripple with Bitcoin or Ethereum. It is not actually possible to store your values here - get a Ripple wallet. The best secure option will be Ledger Nano S (kindly see review), nevertheless Binance exchange wallet with 20 Ripple will be rather suitable.

The system requirement is to store 20 or more Ripple in your each Ripple address: it is a preventive measure against huge amounts of unused addresses. You will be ok sending 20 or more Ripple within first transaction to your wallet.

The next step is to go to site and make a pick of input currency that you will send to address for Ripple provided by Changelly. This resource allows choosing any coin for this. Our recommendations still remain the same: use Bitcoin or Ethereum for Ripple purchase. For output you can use Ripple.

You will face with 2 fields:

  • XRP Address: (Your Ripple Address)
  • Destination Tag (Optional): (a tag for notes about the transaction)

The Next step of processing: send Bitcoin or other input currency to the deposit address. As soon as you launch it – the funds are sent to specified address.

How to buy Ripple on Binance

Binance favorably differs from other exchanges with incredibly low fees of 0.05%. It starts working since 2017 and gained the great popularity among “cryptocommunity”. It also features serious great security system that adds "points" to Binance in the fight for the customers’ hearts. Algorithm

  1. What you need for start is to sign up on Binance for make your exchange. The system maximally eased this process; it doesn’t need any verification, it is fast and available for all users of the world.
  2. Already signed up? The next step is visiting the navigation bar. Every cryptocurrency offers deposit addresses. Move your mouse over funds and click Deposits.
  3. Depending on what currency you will use for buying Ripple (BTC or ETH) – you should locate that very currencies deposit address.
  4. As you locate your addresses, copy them for the next step, where will be explained how to make a transaction in cryptocurrency.
  5. If you need to send ETH or Bitcoin from Coinbase, go to the accounts tab and after that click “send”.
  6. When your cryptocurrency reaches Binance, choose the corresponding trading pair of the sent currency. For example in case of sending Bitcoin, go to the BTC/XRP trading pair.
  7. As you open this page, you will see a screen like this. For purchasing Ripple enter an order in middle of the bottom. Click the “Market” tab - here you can see current rate of Ripple and buy it.
  8. If prompted price doesn’t suit you, you can use a limit order. How many coins do you want to buy? Take the needed amount (you can choose 100% of your balance). You can also take advice about Ripple price - the chart or the order book is highlighted in red. When you have set the order’s conditions, click Buy Ripple and it will be filled – you need to wait a bit!
  9. Once your order is filled, you get the ability to put Ripple to a secure wallet. Get mouse over funds and click “withdrawals”.
  10. Type a Ripple address to send your coins. Before complete the first transaction to a new address, check if it contains at least 20 Ripple. We consider the Ledger Nano S to be one of the most secure wallets, despite this you can use another one – see our Ripple wallets’ review. How to buy XRP on Bitstamp

Take your pick of trading pairs provided by this service:

  • XRP/USD
  • XRP/EUR
  • XRP/BTC

If you’d like to purchase Ripple on Bitstamp, first of all you are to create and authenticate the Bitstamp account.

The front page of account contains the link ‘Deposit’, follow it and deposit the funds. After the funds appear at your account – go ahead and buy Ripple! How to buy XRP on Kraken

This is good choice of cryptocurrency exchange with high reputation for purchasing Ripple. Create the account first, confirm it, log in and make the funds’ deposit. This can be completed by following the deposit link, and further entering all needed information (card number, payment method and so on).

The main feature of service – here you can’t buy Ripple directly; first you need to buy XBT. Set the order to buy XBT, and skip to XRP/XBT pairing. You should enter an order at the current rate and be patient until it is filled. After deal is completed you become the owner of the Ripple! The reasons to choose Ripple

Actually when you buy Ripple tokens you make a great investment to the future. This train really has successful destination – that is not our guess, but the opinion of global financial institutions. As it has a great potential of investment’ returns, especially if it continues integration to banking sector. It has got unquestionable pros:

  1. Speedy processing, transactions are held in four seconds.
  2. You can purchase ordinary items with Ripple (when you are sure that it will be accepted by both trader and user)
  3. Ripple is highly scalable due to supporting of thousand transactions per second.
how to buy ripple

How to purchase Ripple tokens?

Due to state of the art technology of Ripple platform, many successful achievements within its functionality became truth. This caused Ripple to increase 3800% in value for less than a year. It sounds really fantastic and no wonder that many experts predict Ripple a brilliant serious future.

Ripple can be purchased on plenty of exchanges like other popular cryptocurrencies. In comparison with purchasing process of other major cryptocurrencies, we are glad to share with you some ways to purchase XRP token via those exchanges.

Coins Guide
views
👓 Recommended articles
Crypto Gags Heewon Jang

¡ Los Tres Amigos !

Crypto Gags
Check out our Spanish version !!
¡ Los Tres Amigos !

Share it with your friends and don't forget to subscribe!

Сheck daily our Instagram: cryptosharq,

Twitter: CryptoComes

Telegram: @cryptocomes

Crypto Gags
views
👓 Recommended articles