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How to buy Ripple?

The enormous price growth of the past few months and the latest price corrections makes Ripple interesting for investors. Learn here how to buy Ripple

Der Beitrag How to buy Ripple? erschien zuerst auf ETHBLOG.

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The enormous price growth of the past few months and the latest price corrections makes Ripple interesting for investors. Learn here how to buy Ripple (XRP) with Euro or US-Dollar.

In a sense, Ripple can be understood as the “Bitcoin of the banks”. It is massively supported by them to exchange digital values between different currency systems. Ripple also uses a kind of ledger with a decentralized structure, but it is managed by a centralized, profit-oriented organization.

These points lead to the fact that Ripple is seen in the crypto community as the outsider and is treated with suspicion. Above all, the fact that it is centrally organised and supported by banks goes too far for many people.

Nevertheless, it is traded on all common crypto exchanges. We want to show how to buy Ripple, because the value of this currency has risen sharply in recent months and we are constantly being asked for it.

In November 2017, the value of a Ripple (XRP) was only USD 0.2. In January 2018, the price then rose massively to over USD 3 per Ripple. Considerable growth. In terms of market capitalization, it even replaced Ethereum at that time, which was ranked second among cryptocurrencies. At the beginning of 2018 there was then a sharp price correction, which is why many investors are currently thinking of investing at the reduced price.

Ripple price
Price of Ripple. Source: coingecko.com

The fact that Ripple is supported by many large companies and is even in active use there in some cases suggests that the price could rise even further.

There are two different ways to participate in the potential price increase of Ripple: Either via a cryptocurrency and a crypto exchange or via a CFD. The first case is relatively complicated if you don’t have already a cryptocurrency like Bitcoin. The way via CFDs is easier, but has the disadvantage that you only have Ripple virtually. However, the possible profit increases are identical in both cases and can even be leveraged many times by using CFDs.

Trade Ripple with a CFD Broker

To buy Ripple CFDs, first register at any CFD broker who offers these tokens, deposit the desired amount in Euro or US-Dollar and buy the planned amount of Ripple CFDs. A platform that offers Ripple CFDs is Plus500². The CFD Broker offers a very user-friendly platform and does not charge any commissions for trading CFDs. Financing takes place via the Spread, i. e. the difference between the purchase price and the selling price of the contracts.

²Affiliate link. 80.5 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). CFDs are complex instruments and are associated with the high risk of losing money quickly due to the leverage effect. Between 74 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

If you would like to go even deeper into trading Ethereum CFDs, we have an article for you to read on: How to increase profit with Ethereum CFD?

Buy Ripple via Crypto Exchange

In order to buy Ripple via a crypto exchange, you need an account at one of the providers who trades these tokens. One such provider is the online broker Binance¹. This is a relatively well-known broker.

Basically, only 3 steps are necessary to buy Ripple: open an account at Binance, deposit money in the form of other cryptocurrency like e. g. Bitcoin or Ethereum into your account and then exchange it for the desired amount of Ripple. The Ripples can then be left with the vendor or can be transferred to a separate wallet at a later date. In case you don’t have any cryptocurrencies yet, we will also explain how to buy them.

Step 1: Open an account at Binance

Click on this link¹ to create a new Binance account.

Binance registration

Enter your email address and password and click on “Register”. After a confirmation prompt you have successfully created your personal Binance account. Congratulations!

Step 2: Transfer money to your Binance account

To buy Ripple from your Binance account, you need to deposit crypto money into your Binance account. Unfortunately, online brokers such as Binance do not currently accept Fiat money such as US Dollar or Euro. Instead, you have to go the detour and buy a cryptocurrency like Bitcoin or Ethereum and then deposit it on Binance. If you do not already have another cryptocurrency and the associated wallet.

Buy crypto money

For the purchase of cryptocurrency we recommend the provider Coinbase¹, as it is extremely easy to use due to its online wallet and is one of the most trustworthy providers worldwide. First register at Coinbase and buy the desired amount of Bitcoin (BTC) or Ethereum (ETH) you want to exchange for Ripple.

Considering that the transaction fees at Bitcoin are currently extremely high, we recommend the purchase of Ethereum.

Transfer crypto money to Binance account

After you have successfully completed your registration at Coinbase¹ and purchased the desired amount of Bitcoin (BTC) or Ethereum (ETH) there, you must now charge your Binance account with the purchased Bitcoins (BTC) or Ethers (ETH). You can do that by transferring them from Coinbase to Binance. The following instructions show this procedure as an example for Bitcoin. For Ethereum, this works analogously.

Of course you can also transfer Bitcoins from an offline wallet or another online provider. In these cases, the procedure is always similar to that of Coinbase.

Log in to Binance¹ and click on “Funds” at the top of the page and then “Deposits”.

Binance - Funds

Now you will get a list of all currencies that Binance supports. Choose BTC from the list and press enter. Afterwards a kind of “account number”, the deposit address, is generated for you. To this account you can transfer your Bitcoins from Coinbase to Binance. First copy this address.

BTC Address

Log in to Coinbase and click on “Accounts” and then click on “Send” in the “BTC Wallet” section.

Send BTC

In the “Recipient” field, enter the address you copied from Binance. Then you specify how much of the previously purchased Bitcoins you want to transfer to Binance. Note: Each transfer costs a fee. Therefore, you should make as few transfers as possible. Then click on “Continue”.

Choose BTC ammount

After confirmation, the amount will be transferred to your Binance account. This can take from a few minutes to an hour. You can see if the transfer was successful by clicking on “Funds” in your Binance account and then on “Transaction History”. Under the item “Deposit” your transfer should appear as a new entry after a while.  As soon as this is the case, the transfer is completed and you can now use the Bitcoins to buy Ripple.

Step 3: Buy Ripple

Once you have charged your Binance¹ account with the desired amount of Bitcoins or Ethers, you can finally buy Ripples with them. It’s pretty simple. Log into Binance and click on “Exchange” in the upper left corner and then “Basic”. The user interface for trading in cryptocurrencies appears. A search field appears in the right area. Enter “XRP” there. This is the official registration number of Ripple on the stock exchanges. The pair XRP/BTC appears below. Click on it to select it.

Binance XRP

To buy Ripple with Ethereum instead, make sure that ETH is selected in the upper area (see cursor arrow). In the “Amount” field, enter the amount of Ripple you want to buy for your Bitcoins or Ethereum. The current market price is proposed to you. At this price it is very likely that your purchase will be successful.

Buy Ripple

After you have clicked on “Buy XRP” the order will be executed and shortly afterwards you will be the owner of Ripple. You can check whether the order was successful by clicking on “Orders” in the upper area and then on “Order History”. Your order is displayed here. If the status is set to “Filled”, the order was successfully executed.

You can also see your Ripples in your wallet. To do so, click on “Funds” at the top and then “Deposits”. Then navigate to the wallet “Ripple” and click on it.

Congratulations on your Ripples!

Tip: If you do not make a transaction with Binance for more than one year, fees are due. For this reason, it is advisable to transfer the Ripples to your own wallet within one year. We recommend the free wallet software Rippex.

¹Affiliate link
Note: The content on ethblog.de is for information purposes only and does not constitute investment advice or any other recommendation within the meaning of the Securities Trading Act.

²Affiliate link. 80.5 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). CFDs are complex instruments and are associated with the high risk of losing money quickly due to the leverage effect. Between 74 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Stephan Niedermeier

Stephan is member and co-founder of Coinauten, a network of experts on cryptocurrency and blockchain technology. He has already founded several successful technology companies and is a Blockchain investor from the very beginning. Stephan advises investors and companies on strategic and technological issues.
TwitterLinkedInhttp://niedermeier.io

Latest posts by Stephan Niedermeier (see all)

Source: https://ethblog.de/en/how-to-buy-ripple/

Blockchain

Coinbase Targets Direct Nasdaq Listing of its Class A Common Stock

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After the confidential submission of a draft registration statement to become a publicly-traded company announced last year, Coinbase has taken a major step to be listed on the giant US stock exchange – Nasdaq.

  • CryptoPotato reported earlier that Coinbase had submitted a confidential draft registration statement to the US Securities and Exchange Commission (SEC) to go public via a direct listing instead of an IPO. Initial estimations suggested that the potential valuation was at about $28 billion. 
  • Earlier today, the company announced that it had filed a registration statement on Form S-1 with the Commission “relating to a proposed public direct listing of its Class A common stock.” 
  • This signifies a vital step towards becoming a publicly-traded company. Coinbase plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “COIN.” 
  • It’s worth noting, though, that while the registration statement has been filed, it has yet to become effective. As the company explained it:  
  • “These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.” 

  • Furthermore, Coinbase asserted that its filing doesn’t “constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.” 
  • The company reported that its net revenue results for 2020 were substantially larger than the 2019 numbers – $1.1 billion against $483 million. The expenses had also increased from $580 million in 2019 to nearly $870 million last year. 
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Source: https://cryptopotato.com/coinbase-targets-direct-nasdaq-listing-of-its-class-a-common-stock/

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Blockchain

Polkadot, Ethereum Classic, IOST Price Analysis: 25 February

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Polkadot saw a bounce to $36 after touching $28 over the past few days, but it has once again sunk beneath the $34 mark. Ethereum Classic also found some resistance at the $12 mark, and IOST showed rising bearish pressure.

Polkadot [DOT]

Polkadot, Ethereum Classic, IOST Price Analysis: 25 February

Source: DOT/USDT on TradingView

The Supertrend indicator showed a sell signal for DOT after it slipped beneath the descending channel (cyan) and plunged to $28. However, since then it has made a recovery toward $34-but whether this is more of a bounce rather than a recovery is a pertinent question.

At the time of writing, trading volume did not really back the recent price rise, indicating that it was indeed a bounce. The Awesome Oscillator showed bearish momentum, but no real strength over the past few hours.

Key levels to watch out for are $34.5 and $36 above it. A rejection would indicate bearish strength, while a flip to support can be used to enter a long position on a retest.

Ethereum Classic [ETC]

Polkadot, Ethereum Classic, IOST Price Analysis: 25 February

Source: ETC/USDT on TradingView

Using the Fibonacci retracement tool for ETC’s drop from $18 to $9, some levels of importance are highlighted. The RSI showed bears were in control of the market over the past couple of days, as the RSI stayed beneath the neutral 50 value.

The Parabolic SAR climbed into overbought territory even as the price slipped beneath the 38.2% retracement level- which was not an encouraging sign for the bulls.

It is likely that ETC would continue to move lower, toward the $10.75 mark once more.

IOST

Polkadot, Ethereum Classic, IOST Price Analysis: 25 February

Source: IOST/USDT on TradingView

IOST was in a steady short-term decline. It attempted a recovery, on strong trading volume, to $0.059 from the depths of $0.039. However, bears were able to force the price lower once more.

An interesting aspect is a lack of buying strength when IOST began to slip after a rejection at $0.059. This showed that bears were in control. The levels that bulls would try to defend are the $0.044 and $0.039 levels.

A defense of either of these levels over the next couple of days would point toward weakening bearish pressure in the short-term, and another possible recovery back toward $0.059.


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Source: https://ambcrypto.com/polkadot-ethereum-classic-iost-price-analysis-25-february

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Inside the blockchain developer’s mind: Koinos approaches testnet

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Cointelegraph is following the development of an entirely new blockchain from inception to mainnet and beyond through its series, Inside the Blockchain Developer’s Mind. In Part Four, Andrew Levine of Koinos Group discusses some of the challenges the team has faced since identifying the key issues they intend to solve.

Earlier in this series I outlined three of the “crises” that are holding back blockchain adoption; upgradeability, scalability, and governance.

In this post I will summarize the solutions we’ve developed to these problems, which we will be showcasing in the upcoming Koinos testnet planned for the second quarter of 2021.

Since that series Koinos Group has successfully launched a token, KOIN, as a proof of work mineable token on Ethereum. By using proof of work to distribute the initial token supply we were able make the token accessible to early adopters and forgo an ICO.

Assessing the ICO model

ICOs and similar token sale tools, while not without their use cases, have created their own crisis within the space by misaligning incentives before development even begins. The issue is not with the ICO as a tool, but what happens when a team is financially rewarded before they have even shipped a product.

While so many projects have followed in the footsteps of Bitcoin, it’s surprising how few have replicated arguably the most successful aspect of its launch; a token distribution exclusively through proof of work.

The benefit of this approach is that it ensures with algorithmic certainty that the people behind the blockchain have no advantage in acquiring the token. In short, everyone, no matter who they are, has to make a financial sacrifice in order to acquire that token and the scale of that sacrifice is determined by some neutral third party. In the case of proof of work, that neutral third party is the manufacturer of hardware.

For Koinos Group, that means we had to spend money to acquire our token just like everyone else. In fact, because we have to spend most of our time developing the product, we are even at a disadvantage relative to professional miners. So we have to keep working to add value to the protocol if we’d like to get a return on our investment.

Proof of work algorithms are not without their problems, but we mitigated those in a few ways.

  • First, the mainnet will be governed by a totally different consensus algorithm that won’t be proof of work or proof of stake, so any attempt to develop an ASIC would be a waste of resources.
  • Second, we made the algorithm GPU resistant.
  • Third, we released this token long before releasing our mainnet. In fact, we released the token long before we had even completed development of our framework. Without a functional product, this token becomes a way for people who believe in our team and who share our vision for a fee-less smart contract platform to acquire the token at a reasonable cost.

Rapid rate of improvement

Part of what makes this launch strategy work is the innovative property set of Koinos. We built Koinos totally from scratch, not around any single feature like transactions per second or sharding, but with the goal of creating a blockchain that would improve at a much more rapid rate than any other blockchain out there.

In our experience developing the Steem blockchain, the need to execute hard forks was the single biggest factor holding back progress. If we wanted to eliminate that bottleneck, we reasoned, moving as much of the system code as possible into smart contracts that could be upgraded in-band would do the trick.

That’s why the Koinos blockchain framework contains only the most basic blockchain features (called “thunks”) like contract input/input, getting parameters, and writing to the database. All of the more complex features that people are more familiar with (consensus algorithm, accounts, resource management, governance, etc.) have been moved into modular WASM smart contracts running in the virtual machine that can be upgraded without a hard fork.

Because all behaviors are now coded in distinct “modules” that can be individually “upgraded” we call this feature modular upgradeability.

As a result of modular upgradeability, any behavior can be added to the blockchain without a hard fork because individual upgrades can be distributed in blocks and transactions that are pushed to the network much like an operating system patch, but with the added benefit of an on-chain record of the entire upgrade path.

By moving nearly all of the system code of the blockchain to smart contract modules that can be upgraded without a hard fork we have made Koinos into a blockchain that derives its strength not from the features it is born with, but based on its ability to rapidly acquire new and better features faster than anything else out there.

This is why we call Koinos the first blockchain capable of evolution.

Microservices

Modular upgradeability was just the first major technical innovation that we developed to make Koinos less monolithic and an order of magnitude more upgradeable. Just like there is code that does not need to be implemented natively (in the blockchain itself) but that can be implemented as smart contracts (most of it in fact), there is plenty of code that does not need to be implemented either natively or as smart contracts and can instead be implemented as microservices.

Microservice architectures have many benefits which is why this has become the industry standard for modern software development, but one major benefit is scalability because individual services can be scaled up without having to scale up the entire system. This can dramatically reduce the cost of running a network while improving both the speed and quality of improvements to that network. As a result of historical accidents, blockchain stacks appear to be the last to adopt this new standard as Koinos will be the first blockchain built on a microservice architecture.

This creates amazing new opportunities for developers who will be able to build application specific microservices for Koinos that will help them run their nodes, and their applications, more efficiently; and as a consequence deliver better user experiences. Best of all, this will make Koinos node operation more accessible, thereby improving decentralization, and enabling the network as a whole to run more efficiently so that developers and their end-users can get more out of their decentralized applications.

Multi-language support

Another benefit of a microservice architecture is that individual microservices (basically small programs) can be written in the best (fastest, most secure, best libraries, etc.) programming language for the job, a capability we also wanted to offer for smart contract developers. But in order to take advantage of this trait we needed to develop a way for these small programs written in different languages to “talk” to one another in a way that conformed to the unique needs of a decentralized network. To solve this problem we created a cross-language serialization framework named Koinos Types.

Koinos Types is like the Rosetta Stone for blockchain data structures. It allows programs written in different languages to talk to one another in a simple and unified way by giving them access to the same objects (the “building blocks” of modern programming languages). Koinos Types allows for the interpretation of Koinos (i.e. blockchain) data structures in practically any programming language which will be extremely useful for the development of blockchain-related microservices, clients, and smart contracts.

Koinos Types solves a number of problems. It helps us add multi-language support to Koinos more generally (including for smart contracts), it enables microservices to communicate with one another, and it makes it far easier to develop and update client-libraries. While modular upgradeability and the microservices architecture alone make Koinos far more upgradeable than any other blockchain, Koinos Types takes that upgradeability to another level. That’s why we were so excited to make Koinos Types the first piece of Koinos that we open sourced.

As you can see, ensuring that Koinos can improve at a more rapid rate than any other blockchain isn’t about any one feature.

  • It’s about getting the incentives right from the beginning.
  • It’s about ensuring that the blockchain has modular upgradeability.
  • It’s about modularizing the very architecture itself as microservices.
  • And it’s about making sure that developers operating at every level of the stack (not just smart contracts) are able to use the programming languages they already know and love.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Andrew Levine is the CEO of Koinos Group, where he and the former development team behind the Steem blockchain build blockchain-based solutions that empower people to take ownership and control over their digital selves. Their foundational product is Koinos, a high-performance blockchain built on an entirely new framework architected to give developers the features they need in order to deliver the user experiences necessary to spread blockchain adoption to the masses.

Source: https://cointelegraph.com/news/inside-the-blockchain-developer-s-mind-koinos-approaches-testnet

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