How to Buy Ripple (XRP) in South Africa: A Simple Guide
Besides Bitcoin, the choice to buy Ripple (XRP) here, in South Africa is a great decision too. Ripple (XRP) is one of the altcoins that has the potential to compete Bitcoin in the cryptocurrency market. That’s why if you’ve heard of Bitcoin, you’ve likely heard of Ripple (XRP) as well.
Now, if you’re getting confused about Ripple (XRP), stay calm. Today, let us guide you through and we’ll tell you everything about this altcoin. From the story of its origin to how easy it is to buy Ripple (XRP) in South Africa. Just remember to take some notes.
Okay, let’s start with the basic.
What is Ripple (XRP)?
To start a discussion about Ripple (XRP), it is important to make a distinction from the start. Ripple is sometimes interchangeably known as ‘XRP’. Ripple is a separate company to the XRP token. Ripple is a real-time gross settlement ecosystem that also promotes XRP. So, when you buy Ripple (XRP), it means you are buying the XRP token, not Ripple.
XRP is a cryptocurrency that was started by Ripple Labs in 2012, making it one of the longest standing cryptocurrencies to date. Ripple aims to help financial institutions settle payments by using their different payment networks, one of them being the XRP network.
Ripple aims to make its payment networks and XRP fully compliant with international laws and regulations.
What are the advantages of Ripple (XRP)?
The main selling points of Ripple (XRP) is its speed, its low transaction fees, and its scalability. Here are some details of its benefits:
- Transactions made on the XRP network are settled within 4 seconds.
- The average Ripple (XRP) transaction fee is $0.00001.
- The XRP network is capable of processing 1500 transactions per second and can be scaled to handle even more in the future.
Those numbers are quite significant when you compare them to other cryptocurrencies:
BTC’s main chain can handle about 4 – 7 transactions per second. With an average fee of about $2 – $5.
The ETH network can handle about 15 transactions per second. With an average fee of $0.62.
LTC can handle about 56 transactions per second. With an average fee of $0.56.
The XRP network is also capable of helping banks and financial institutions to settle transactions in traditional fiat currencies such as the South African Rand, the US Dollar, or even other cryptocurrencies such as Bitcoin.
Is Ripple (XRP) legal in South Africa?
Yes, Ripple (XRP) and other cryptocurrencies in South Africa are 100% legal! Our government, along with governments of other countries, has realised that cryptocurrencies are here to stay, so we should be embracing them rather than trying to ban or fight them. South Africa has been said to be ‘leading the crypto revolution in Africa!‘, so it is highly likely that cryptocurrencies, including Ripple (XRP), will not be made illegal in South Africa anytime soon :).
How to buy Ripple (XRP) in South Africa?
To buy Ripple (XRP) in South Africa you’ll need to sign up with a local exchange or broker. Luckily, here at Easy Crypto, we make it extremely easy for anyone in South Africa to buy Ripple (XRP) or over 70 other altcoins!
Follow these easy steps below to get started with Easy Crypto and buy your first Ripple (XRP) tokens in South Africa.
- Sign up
Head over to our sign up page and create an account. You can make an account with your email address, Google account, Facebook account or Twitter account.
- Verify your account
Once you’ve created an account you’ll need to get it verified. This should only take a few minutes. Feel free to check out our guide on how to get your account verified if you need any assistance.
- Start buy Ripple (XRP) and other cryptocurrencies
Now you can buy Ripple (XRP) or any cryptocurrency of your choice. Just enter the amount you’d like to buy, provide us with an address (and a tag if needed), and then pay for your order. Most orders are delivered within a few minutes!
So, how was it? Are you interested in trying Ripple (XRP) for the first time? Do not hesitate to contact Easy Crypto if you want to buy this altcoin today or any other cryptocurrencies in South Africa.
We’d always happy to help 🙂