Exchange Review

How to buy Ripple (XRP) Crypto in Australia

Summary: The fastest and most affordable way to buy the cryptocurrency, Ripple (XRP) in Australia is by going through a secure and regulated cryptocurrency exchange. We recommend using CoinSpot as it offers free and instant AUD deposits and trading fees from 0.1%.

By 
Austin Barwick
 on  
August 13, 2022

Ripple (XRP) is a decentralised cryptocurrency that enables near-instant, low-cost international payments. Ripple was launched in 2012 and is currently the fourth largest cryptocurrency by market capitalisation. It is built on a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.

Table of Contents

Where to buy the Ripple (XRP) Crypto

To purchase cryptocurrencies in Australia you will need to use a crypto exchange. You can buy the cryptocurrency Ripple on most cryptocurrency exchanges as it's the fourth largest token by market cap globally. However, the fee to buy Ripple vary on every exchange. For example, to buy Ripple on eToro will cost a 1% fee of your deposit but on CoinSpot it's only a 0.1% fee of your Deposit.

CoinSpot is considered the best cryptocurrency investing platform in Australia. It offers competitively low fees, a large selection of cryptocurrencies, a myriad of features and the best security. If you are interested in learning more about the CoinSpot exchange, you should visit our CoinSpot Review to read about staking, NFTs and more.

CoinSpot NFT Marketplace.
CoinSpot NFT Marketplace.

How to buy Ripple (XRP) in Australia

In this guide, we show Aussies how to buy the cryptocurrency Ripple (XRP) on CoinSpot via its market buy feature. If this guide is too complicated, you can use the Instant Buy feature on CoinSpot which instantly buys your token at a lower price but the fee is 1% to use this feature. However, it is straightforward and easy to use, simply click the 'Buy/Sell' tab and buy Ripple there.

Follow the below steps to buy Ripple with Australian dollars via the Market Buy feature on CoinSpot.

  1. Create an account on CoinSpot and complete the onboarding process.
  2. Select 'Deposit Funds' and choose the payment method you prefer and deposit AUD.
Deposit Funds Page on CoinSpot
  1. Click the ‘Markets’ tab and find the ‘XRP/AUD’ market.
Markets page on CoinSpot
  1. Enter the amount of AUD you want to spend and fill in the rate (price) of the token you wish to buy at (we recommend doing the highest buy price to immediately fill your order) and press ‘Buy XRP’.
How to Buy Ripple (XRP) in Australia.
How to Buy Ripple (XRP) in Australia.

About XRP

Ripple's consensus ledger (the "XRP Ledger") is a decentralised cryptographic ledger powered by a network of peer-to-peer servers. The native digital asset on the XRP Ledger is called XRP. XRP can be used to purchase goods and services, or sent to another user on the network. Transactions on the XRP Ledger settle in 4 seconds.

Ripple is unique in that it doesn't require mining like other Proof-of-Work cryptocurrencies. Rather, all 100 billion XRP were created at Ripple's inception, and no more can be created. This means that transaction fees on the Ripple network are very low, or even non-existent.

The main use case for Ripple is as a "bridge currency" to facilitate global payments. For example, if someone wants to send money from Japan to the United States, they can convert their Japanese Yen into XRP, and then send the XRP to a US-based exchange where it can be converted back into USD.  This process is much faster and cheaper than traditional methods such as wire transfers. Ripple has partnerships with several major financial institutions, including American Express, Santander, UBS, and others.

Ripple (XRP) Live Price in AUD

Below you can find the live price and chart of the cryptocurrency, Ripple (XRP).

Buy Ripple

Author Bio

Austin is a NFT and Metaverse maniac - with over 20% of his portfolio invested into the space. He is our resident multi-chain NFT expert.

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