Have you ever heard about the ripple payment protocol? It is a real-time gross system, remittance network, and currency exchange. Ripple Labs Inc, a technology company based in the US developed this payment protocol.
However, they did not stop there. They have also created their Ripple coin. This cryptocurrency became popular because of the very fast transfer rate. The entire transfer lasts for around a few seconds. Many people call Ripple coin XRP. We will use that name through the text as well.
When you look closer, the easiest way is to exchange your XRP to Ethereum or Bitcoin. When you do that, you can easily exchange those two cryptocurrencies into cash.
However, people usually struggle to exchange it with “real” money. For instance, many people have complained that they cannot exchange their coins to dollars. So, what to do? Where is the best place to exchange your ripple?
Fortunately, there are a few exchanges that offer this option. We will highlight those that the safest ones.
1. Hit BTC
There are many advantages that this exchange has. The main one is – affordability and low fees. First of all, this platform offers an affiliate program to its users. If you bring new people/clients, you will get different sorts of rewards.
Other features of this platform are high liquidity and cutting-edge matching engine technologies. Besides that, we should mention that fees are low. The exchange has strong security measures. You won’t have to worry if the hack attack happens. Your funds will be secured.
Note – Platform does not require registration.
Kraken is located in San Francisco, and it offers services all across North America. There is a small exception; they do not offer their services in New York. The reason is simple. The State Department of Financial Services requires them to have BitLicense.
Additionally, they also operate in the European Union, Great Britain, and Japan. Users that have a bank account in the EU can use the SEPA payment system.
You will be able to make a basic and advanced account. For a basic account, you will need to provide
- Full name
- Date of Birth
- Current Address
- Phone Number.
Making an advanced account is logically a more complex process. You will have to go through a stringent verification process to finish registration.
Currently, this platform offers three sorts of exchanges
- XRP – USD
- XRP – EUR
- XRP – BTC
You will have the opportunity to deposit American dollars or Euros to the exchange. This company is based in the UK, but it offers services to worldwide users. It has 2 crucial features important for your safety – 2-Factor Authentication and Offline Cold Storage.
Besides that, the platform is mobile-friendly. You can exchange your coins via mobile and computer devices as well.
There is one disadvantage that we need to mention. CEX is a famous brand among cryptocurrency users. So, their fees are a bit more expensive. The basic fee is just 0.2%. This pair is actually quite cheap. Yet, if you use a debit/credit card to make withdrawals to a bank account, you will have to pay an additional 3.5% + $0.25/0.20 euros.
Here is another exchange that allows users to transfer Ripple into USD dollars. Logically, you can also transfer your coins to some other cryptocurrencies.
Something that is required from you is to have a Ripple wallet. This platform does not hold your coins. So, you can use the Binance wallet with at least Ripples and you will solve this problem. 20 is minimum that Ripple requires so that they can reduce the number of unused Ripple coins.
It doesn’t matter how much coins or money you want to exchange. The fee is fixed and it is always 0.5% of the total amount. The entire process of exchanging won’t take you more than 10 seconds.
This crypto exchanger has a good reputation among users. It is one of the oldest platforms and it has an office in dozens of different locations. They are doing business in almost all parts of the world.
The good thing is that you can exchange your XRP in BTC, Euro, and US dollars. There are three different ways of purchasing that you can use on this platform
- Debit/Credit Card
- International Wife Transfer
It is good to mention that they offer affordable fees. This especially counts if you are exchanging larger amounts. The fee goes down in those situations.
We will move to Mexico for a moment. Bitso is not a world-wide platform because it is only offering only one service. You can exchange your XRP only to Mexican Pesos. Studies have shown that Mexico has the highest trading/exchanging volume among other South Africa countries. Logically, the exchanging value is a lot lower comparing to the US.
The exchanging fee varies. It depends on how many transaction users completed in a 30-day period. Those that are the less active users will probably pay 1% of the entire amount because that is the maximum. The most active ones will have the chance to reduce the value of the fee to only 0.1%. This is the lowest fee that you can find.
Additionally, this platform is also mobile-friendly. You can download it in iOS and Android store and easily exchange, sell, or buy your ripples.
Ripple is the main priority of this exchange. They use this digital coin and move it to Ripple Network. The good thing about this platform is that it uses 2FA (two-factor authentication). Still, identity verification is optional. Finally, the biggest advantage of Gatehub is that you can exchange your digital coins directly for cash. They support 4 different fiat currencies, euro, dollar, CNY and JPY. The fees are always between 0.2 and 0.3 percentages.
The point of this article is to inform you about the best ripple exchanges. We do believe that there are the ones that will satisfy your needs. Still, that doesn’t mean that you should not do your research. Research the entire Internet, read the conditions carefully and decide whether you will exchange your digital coins or not. Don’t forget one thing. The crypto industry is a complex industry. Gather enough pieces of information before you pick the best option you have.