What is Ripple?
Ever Thought How to Buy ripple from binance ? With the fact of cryptocurrency being in full swing, a ripple is yet another type of it. Initially, it came into existence in 2012 and is known to be a network of remittance and currency exchange. Ripple, like others, is not dependent on the proof-of-work used by Bitcoin, but it is based on a database which is publicly shared and makes use of a consensus process. This process is between the validating servers just to ensure security. Some even compare Bitcoin with Ripple.
After knowing about ripple, one should also be aware of how to buy ripple from binance. The simple yet effective way to make your buying of ripple easy is provided here.
How to buy ripple from binance?
There are a number of ways to buy ripple, but the most preferred one is through binance. One cannot directly buy ripple through binance, but through buying bitcoin first and then transfer those to binance. Here are the steps to buy ripple from binance-
- The foremost step is to create an account on binance site which will be just as other accounts
creations, entering your email and password.
- Then transfer your bitcoin currency to your binance account. To do so look for the option of funds in your account page and click on deposit withdrawals.
- Choose the coin you are exchanging from and then choose the deposit button.
- Now you need to copy the money exchanging address provided.
- After this, you need to log in to the exchange you used to buy the Bitcoins, then go to the option of accounts. You can even buy these bitcoins from your accounts directly.
- After this go to your bitcoin wallet and click send.
- Then paste the bitcoin address that you used on Binance into the recipient box and enter the amount you wish to transfer.
- Then log in the Binance account and under the funds' section go to the deposit withdrawal option and check the total amount or balance.
- Now to change bitcoin to Ripple click on the option of exchange on the top of the page and then look for the option of basic and choose it.
- Look for XRP option and choose from Bitcoin.
- Click on the amount of bitcoins you wish to transfer to Ripple. Click on the option of buy XRP.
- The transfer is then done, check your transfer.
This is the simplest way to buy ripple from Binance.
Benefits of buying ripple
Among the huge ocean of types of cryptocurrencies, Ripple proves to one of the best ones. It has quickly grown in popularity because of its low fees and minimal transfer. One of the reasons to make the users opt for ripple is the process of buying ripple from different sites. The most preferred one is to buy ripple from binance. The process has been explained above and is the simplest one. It is different from others in a way that is connected to the banks and companies. It is used by renowned companies due to their best services and features.