Ripple (XRP) holds the third position on Coinmarketcap with a total market capitalization of $27.5 billion. It remains an attractive option for both new and experienced investors.
In this guide, we will walk you through the process of purchasing Ripple (XRP) using VNĐ in a straightforward and easy-to-understand manner.
Let’s get started!
What Is Ripple (XRP)?
Ripple (XRP) is a digital currency used within the Ripple payment network. It processes transactions in just 3.3 seconds with a low fee of approximately $0.0004 per transaction and can handle up to 1500 transactions per second.
Due to its efficiency, an increasing number of banks are integrating Ripple’s technology into their payment systems. This helps enhance processing speeds for high transaction volumes while reducing costs.
Where to Buy Ripple (XRP) Safely?
In Vietnam, there are local platforms where you can buy Ripple using VNĐ. However, prices on these platforms are often higher compared to international exchanges.
Therefore, this guide will show you how to purchase XRP on Binance using Bitcoin. Binance offers competitive rates and allows you to store XRP directly on the exchange.
Steps to Buy Ripple Using VNĐ
Step 1: Create Your Accounts
You will need to create two accounts: one on Binance and another on Remitano.
Register on Remitano
Quick guide:
- Visit remitano.com/vn.
- Click the “Sign Up” button in the top-right corner.
- Enter your email address.
- Confirm your registration via the email sent to you.
Register on Binance
Follow these steps to create a Binance account:
- Go to Binance.com.
- Click “Register” in the top-right corner.
- Fill in your details and complete the registration.
After registering, obtain your Bitcoin (BTC) deposit address on Binance for the next step.
Step 2: Purchase Bitcoin on Remitano
The process of buying Bitcoin on Remitano is straightforward:
- Log in to your Remitano account.
- Deposit VNĐ into your VNĐ wallet.
- Select a Bitcoin seller and click “Buy.”
- Enter the amount of BTC you want to purchase and input your Binance BTC wallet address.
- Click “Buy BTC.”
Step 3: Buy Ripple on Binance
Once your Bitcoin is deposited into your Binance account, you can proceed to buy Ripple (XRP).
Here’s how to purchase XRP on Binance:
- Log in to your Binance account.
- Navigate to the XRP/BTC trading pair.
- Select the “Limit Buy” option.
- Enter your desired purchase price in the “Price” field.
- Enter the amount of XRP you want to buy in the “Amount” field.
- Click “Buy XRP” to execute the order.
Example:
If you wish to buy 50 XRP at a price of 0.00007762 BTC, enter these values and confirm the purchase.
Important Notes When Transferring Ripple (XRP)
After purchasing XRP, you can view your balance under “Deposits & Withdrawals.” You may store your XRP on Binance or transfer it to an external wallet.
If you decide to transfer XRP to a cold wallet, ensure you enter the correct destination tag. Failing to include the right tag may result in permanent loss of funds, for which the exchange will not be responsible.
Conclusion
By following this guide, you should be able to purchase and trade Ripple (XRP) with ease. We wish you successful and secure transactions.
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Frequently Asked Questions
What is Ripple (XRP)?
Ripple (XRP) is a digital currency designed for fast and low-cost international payments. It is used within the RippleNet ecosystem by financial institutions to improve cross-border transactions.
Can I buy XRP directly with VNĐ?
While some local platforms support direct VNĐ-to-XRP trades, using international exchanges like Binance often provides better rates. This guide recommends buying Bitcoin first with VNĐ and then exchanging it for XRP.
Is it safe to store XRP on Binance?
Binance is a reputable exchange with robust security measures. However, for large amounts, using a hardware wallet is advised for enhanced safety.
What is a destination tag?
A destination tag is an additional identifier required when receiving XRP. It ensures the funds are credited to the correct account on supported platforms.
How long does a transaction take?
XRP transactions are typically completed within 3–5 seconds, making it one of the fastest blockchain networks.
Are there transaction fees?
Yes, but they are minimal—usually around $0.0004 per transaction, regardless of the amount transferred.