How to Buy XRP on Coinbase in 2023: The Ultimate Guide

Hey there! So you‘re interested in purchasing some XRP coins, but found out Coinbase no longer supports trading or storing Ripple‘s native cryptocurrency. Bummer!

Not to worry my friend – buying XRP is still very much possible through some great alternative platforms. This comprehensive guide will walk you through everything you need to know, from the basics of XRP to step-by-step instructions for buying, securing, and selling XRP tokens in 2023 and beyond.

Stick with me, and you‘ll be an XRP expert by the end!

A Quick Intro to XRP – The Digital Asset Powering Ripple

Before jumping into the nuts and bolts of buying XRP, let‘s start with a quick overview of exactly what it is and its purpose.

XRP is the native cryptocurrency that operates on the XRP Ledger – a decentralized, open-source blockchain created in 2012 by the fintech company Ripple Labs. So while Ripple and XRP are often used interchangeably, they refer to two different (but related) things:

Ripple – The company building payment solutions on top of the XRP Ledger and promoting XRP adoption.
XRP – The digital asset and cryptocurrency that powers transactions on the XRP Ledger.

Now here are some key facts about XRP itself:

Created by Ripple Labs, with 100 billion XRP tokens created at inception.
Currently has a circulation of 48.3 billion XRP tokens and a market cap ranking consistently in the top 10 cryptocurrencies.
Transactions settle in 3-5 seconds on average, making XRP one of the fastest major cryptos.
Tiny transaction fees – each XRP transaction costs just a fraction of a penny.
Limited supply – Unlike Bitcoin, the supply of XRP is fixed with no mining, keeping it inexpensive and accessible.
Main use case is providing liquidity for cross-border payments and currency transfers, though it has other applications in DeFi and NFTs.

Hopefully that gives you a better understanding of exactly what XRP is! Now let‘s look at the key question…

Can You Actually Buy XRP on Coinbase Though?

I‘m sure you already know the sad answer here – no, XRP is not currently available to purchase or trade on Coinbase following its delisting in January 2021.

This was in response to the SEC lawsuit filed against Ripple Labs alleging that XRP sales over the years amounted to the sale of unregistered securities.

As a regulated US exchange, Coinbase determined they must suspend XRP trading and custody until the lawsuit reached a clear conclusion. Over two years later now, the case remains ongoing with no definite timeline for resolution.

Many anticipate that Coinbase may eventually relist XRP once the lawsuit concludes if no concrete violations by Ripple are found. But for now, buying XRP directly through Coinbase remains off the table for US customers.

So what are the best alternatives? Let‘s explore some of the leading platforms for accessing XRP markets without Coinbase:

Top Exchanges for Buying XRP

Exchange	Deposit Methods	Supported Pairs	Fees
Binance	Credit/Debit Card, P2P, Wire Transfer	XRP/BTC, XRP/ETH, XRP/BUSD, XRP/USDT	0.1% Spot Trading Fee
Kraken	Wire Transfer, Electronic Funds Transfer	XRP/USD, XRP/EUR, XRP/GBP	0.16% – 0.26% Maker/Taker Fee
CEX.IO	Credit/Debit Card, Wire Transfer	XRP/USD, XRP/EUR, XRP/GBP	0.16% – 0.25% Maker/Taker Fee
Bitstamp	Credit/Debit Card, SEPA Transfer	XRP/USD, XRP/EUR, XRP/BTC	0.1% – 0.25% Trading Fee
Gate.io	Credit/Debit Card, Bank Transfer, Crypto	XRP/USDT, XRP/BTC, XRP/ETH	0.2% Trading Fee

As you can see, every major exchange offers multiple XRP trading pairs, deposits with fiat or crypto, and competitive trading fees.

Binance in particular stands out – they have by far the deepest liquidity and most XRP trading volume, which helps reduce spreads. Their 0.1% flat trading fee is among the lowest.

Kraken is great if you‘re in Europe or want to stake XRP to earn rewards. But overall, I‘d recommend Binance or CEX.IO as the best platforms to start purchasing and trading XRP.

Most exchanges follow standard KYC procedures, so you‘ll need to verify your identity before accessing XRP purchases and withdrawals. I‘ll walk you through the full process soon. First, some tips on…

How to Choose the Right XRP Wallet

Once you‘ve bought your stack of XRP on an exchange, you probably don‘t want to leave it there permanently. Instead, withdraw it to a secure XRP-compatible wallet to give you full ownership.

Here are some top XRP wallet options to consider:

Hardware wallets like Ledger and Trezor offer offline storage and top-notch security. Their dedicated apps allow you to store, send, and receive XRP.
Mobile wallets like Exodus, Atomic Wallet, Edge are convenient for everyday transactions and payments using your smartphone.
The XRP Toolkit browser extension by Ripple Labs provides a desktop wallet to manage your XRP holdings.
Leading cryptocurrency exchanges also offer integrated XRP software wallets alongside trading. Fine for short-term holds.

For large long-term XRP investments, I advocate using a hardware wallet like the Ledger Nano S. But mobile and software wallets work great if you follow best practices like enabling 2FA and backing up your recovery phrase.

Now, let‘s get to the fun part…

Step-by-Step Guide: How to Buy XRP in 4 Simple Steps

Here‘s a walkthrough of how to create an account on Binance, verify your identity, deposit funds, and buy XRP:

Step 1) Create A Binance Account

Visit Binance.com and click "Register" to create your account.
Enter your email and set a strong password. Agree to the terms and hit Register.
Check your email inbox for a confirmation link to activate your account. Then you‘re ready!

Step 2) Complete KYC Verification

Hover over your profile icon and click "Complete your KYC". Provide your personal info and photo ID.
Binance will review your application to verify your identity and eligibility. Once approved, you get full access.

Step 3) Fund Your Binance Account

From the Balances dashboard, click "Deposit" next to the currency you want to fund with.
Choose your preferred deposit method – credit card, P2P trading, wire transfer, etc.
Enter deposit amount, submit payment details, and send funds to your Binance wallet.

Step 4) Use Funds to Buy XRP

From the homepage click "Trade" then "Classic" and search for XRP/USD (or other XRP trading pair).
Enter the XRP amount you want to buy, preview the cost, and click "Buy XRP" to complete the order.
Newly purchased XRP will appear in your Binance Spot Wallet, ready to be used!

And that‘s seriously all there is to it! With those four simple steps you can gain exposure to XRP, one of the most utilized and game-changing assets in the crypto space.

Next let‘s examine some pro tips when it comes to storing, trading, and cashing out your XRP…

Storing, Trading, and Selling XRP Like a Pro

Owning cryptocurrencies like XRP comes with responsibility. You want to make sure you handle your new assets in a way that‘s secure, savvy, and ready to capitalize on price movements.

Here‘s my best advice for managing your XRP like a professional:

Use a hardware or mobile wallet and enable 2FA for optimal security. Never store all your crypto in one place.
Dollar cost average into XRP instead of dumping in your full investment at once to reduce risk over time.
Stake XRP on participating exchanges like Kraken to earn interest rewards through passive holding.
Set price alerts on your exchange to be notified if XRP hits key technical levels or your target exit price.
Use limit orders to lock in profits when selling XRP at your predetermined prices.
Record crypto transactions for tax reporting purposes. Know your cost basis and capital gains/losses.
Keep up with XRP developments by following Ripple and crypto news sites to analyze the ongoing utility and adoption of XRP.

Adopting strategies like these will make you a confident, savvy XRP investor with the tools to maximize your likelihood of success.

Now onto the big question: when will Coinbase relist XRP and resume trading?

The Potential Coinbase Relisting of XRP

Given Coinbase‘s dominance in the US crypto trading market, many are eagerly awaiting the day XRP gets relisted on the exchange. However, there is no definite timeline or guarantee if/when this might happen.

Coinbase has stated they will evaluate re-enabling XRP trading if and when the SEC lawsuit concludes without any finding that Ripple violated securities laws.

However, legal experts anticipate the case dragging on through 2023 at least. And the odds of Ripple walking away completely unscathed are low.

Based on these factors, I think it‘s unrealistic to expect Coinbase to relist XRP in the short term. But further down the road, say 12-18 months? The probability seems decent if Ripple reaches a favorable settlement with the SEC.

Until then, exchanges like Binance, Kraken, and Bittrex will continue serving the XRP trading demand from US customers. And I expect XRP‘s utility and adoption to steadily grow regardless of the lawsuit outcome.

So don‘t let the lack of XRP on Coinbase deter you! With so many great alternative platforms available, buying and selling XRP remains accessible to investors.

The Bottom Line

Despite the roadblock of being delisted from Coinbase, there are still numerous easy and mainstream options for purchasing, storing, and trading XRP – from using regulated exchanges to storing in trusted hardware wallets.

The SEC lawsuit has undoubtedly been a drag on Ripple and XRP‘s progress in dominating cross-border payments. But Ripple continues to ink deals with financial institutions across the globe, proving real-world demand for XRP‘s speed, cost, and scalability advantages.

Personally, I think the disruptive potential of RippleNet and proven use cases make XRP one of the most compelling crypto investments for the long run. I hope this guide gives you confidence in gaining exposure to this top digital asset and managing your XRP securely.

Let me know if you have any other questions! I‘m always happy to chat more about the wild world of crypto. Enjoy the journey!