Would you like to buy Ripple from the UK or from another country? Would you like to know where PayPal, Neteller and other payment methods are accepted? Will you be paying with Euros or dollars? If you are interested in investing in Ripple, you are sure to have many doubts, and we are here to help you resolve them. If you would like to take the fast track, we can tell you right away that in our opinion, the best online broker for buying and selling Ripple is Plus500. This is one of the safest CFD brokers and it does not charge any commissions. But, before we speak more about brokers, we must first explain a few things about Ripple (CFD service, remember that CFDs are a leverage product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved).
The growth of virtual currencies in recent years has been tremendous, and the value of these cryptocurrencies has increased as fast as their rate of adoption. This has led many investors to take an interest in cryptocurrencies such as Ripple, since many experts are predicting that they have a promising future ahead of them. In any case, it should always be remembered that things can turn out differently than expected. That having been said, we would now like to explain more about Ripple – which also goes by the acronym XRP.
How is Ripple’s value determined?
As you can imagine, nobody is able to know with certainty why the price of XRP goes up or down. If there was an obvious reason all of the time, we would all be able to predict its variation and make money buying and selling Ripple. That said, what usually determines the variation in price is supply and demand. For example, if there are many people who want to buy Ripple, but only a few people who want to sell it, it is only normal that its price increases. If the opposite happens, and most people want to sell, the price will decrease. The point is to try to predict what will happen in the future, to determine whether the price will be bullish or bearish.
How is it possible to know what the supply and demand is at any given time? As in the previous point, predicting this is not an exact science, but there is available data from which we can attempt to draw some conclusions. Possibly the best approach is to begin by looking at supply, since it is the most straightforward part of the equation.
If you already have experience using other cryptocurrencies such as Ethereum, Dash, Nem, Zcash, Bitcoin Cash, Monero, Litecoin or Bitcoin, you will surely be aware of the fact that these currencies are available in a limited quantity. Every day more coins are created, but the total number of coins is limited to a maximum value that will never be surpassed. Interestingly, Ripple’s case is similar, but follows an inverse process. The total Ripple supply is limited to 100 billion, but this number decreases at times. The reason for this is that when Ripple was launched, it was done with the maximum available supply, which decreases over time. Therefore, the XRP supply will continue to decrease, and as we discussed earlier, this should result, at least in theory, in an increase in its price – since the fewer the available coins, the more each one will be worth. Why are Messi and Cristiano Ronaldo paid so much? Because they are unique. If there were many players just like them, their respective value would decrease.
We have just looked at the “easy” part of the equation: supply. Now we need to look at the other aspect of the equation, which is more difficult to comprehend: demand. How many people will want to use and to buy Ripple in the future? This is something that you will have to decide for yourself. However, we can analyze and investigate the signals and clues that the market provides us with. On the one hand, the use of cryptocurrencies is becoming more widespread. If this trend continues, it may even be possible that cryptocurrencies will one day become the standard and be used by everyone. Another point to consider is that Ripple is known as what is referred to as a bridge currency because it is quoted against other currencies such as the Euro, the dollar and even against Bitcoin. In any case, the usual thing these days is to measure the price of Ripple as well as other currencies against the dollar, since it is the most widely used currency in the world at the moment.
Other factors to take into account in the potential demand for XRP are its ease of use, its structure and its degree of security – which is high. All of these indicators seem to be positive, but you should not forget that the world is an unpredictable place and that there could potentially be risks involved that are currently unforeseeable. Therefore, you should always be cautious and careful in your analysis and evaluation and always remember that you run the risk of losing money.
Brokers that accept PayPal and other payment methods
Generally speaking, in order to trade with cryptocurrencies, you will need to open an account with a broker. This is an important consideration since there are some unreliable brokers that should not be trusted because they do not comply with regulations and are not overseen by prestigious regulatory bodies. In this particular case, let’s take a look at what we should look for in a CFD broker for the purposes of trading with Ripple, and in order to have some guarantee as to its legitimacy. Of course, our broker of choice allows you to use PayPal as well as many other payment methods.
The first and most important consideration when choosing a broker is to make sure that it is overseen by a regulatory body within the European Union. Although there have been several new companies to emerge in the last few years that are making very appealing offers, many of them are scams and cannot be trusted. The main reason why we make this claim is that they are not overseen by regulatory bodies, meaning that their security is low and that their likelihood of being scams is high. As far as we are concerned, for us to consider a broker reliable, we require that it be overseen by a European regulatory body, and if possible, by a body from a reputable country.
At the beginning of this article, we mentioned the online broker Plus500, and at the end of this article, we will give you more information about this particular broker so that you can find out how to buy Ripple through it. But, for the moment, let’s take a closer look at Plus500’s reliability. Plus500 meets our two requirements: it is overseen by a European regulator – CySEC – and in addition it is licensed in the UK by the FCA and in Australia by the AFSL.
Furthermore, it should be noted that this company is listed on the stock exchange – the AIM market of the London exchange to be more precise. We consider this to be good a good sign since it implies that this company will also be regulated by stock exchange organizations. In addition, publicly traded companies are required to make their accounts and performance results public; and, as a result of being a publicly listed company, Plus500’s accounts will also necessarily be audited. All of these factors combine to make us regard this broker as being trustworthy. Also, the fact that this broker accepts payments by PayPal, credit and debit cards as well as by wire transfers, leads us to consider Plus500 as the best possible choice.
How and where to buy Ripple in the UK and other countries
Now that we have explained the main issues surrounding Ripple, it is time to look at how to trade with this cryptocurrency. We have already mentioned that we consider Plus500 to be one of the best currently available CFD brokers, furthermore, it is one of the few that allows trading with XRP. One of its advantages, in addition to its security, is that it does not charge any commissions – although it does apply small spreads. As a final point, we would like to clarify that this broker allows you to deposit the amount of money that you would like to invest at any given time, but that the minimum initial deposit is 100 Euros/dollars. Therefore, you can deposit any amount that you would like, provided that it is equal to or more than 100 Euros/dollars. Click here to go directly to the section regarding purchasing and selling Ripple at Plus500 without paying any commissions (CFD service, remember that CFDs are a leverage product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved).