Ripple’s XRP is the hot new cryptocurrency — here’s how you buy it

The logo of blockchain company Ripple is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren

Following bitcoin‘s booming 2017, cryptocurrencies have become the hot new investment play.

One of the most talked-about cryptos is Ripple‘s XRP, which had grown by more than 3,000% since mid-2017. Its market cap of $ 7.6 billion makes it the third-largest cryptocurrency behind bitcoin and Ethereum.

Unlike those two other giants, if you want to buy Ripple it takes a bit more finagling than just taking a trip over to the popular exchange Coinbase (although it’s still important).

Here’s how to buy your first batch of Ripple’s XRP coins.

There are several exchanges for Ripple’s XRP, many of which are overloaded with requests at the moment. For the sake of convenience, I used Bitsane.

Bitsane is unique in that people in the US can’t buy cryptos directly with their credit card, which is how Coinbase works. You have to exchange other cryptocurrencies like bitcoin or Ethereum for XRP.

For most people, this means using Coinbase to first buy some Ethereum, bitcoin, or bitcoin cash.

(Here’s a walk-thru of how I bought bitcoin using Coinbase back in early 2017.)

Once you set up your Bitsane account, go to the Balances tab at the top. Then you can locate the crypto you’d like to exchange for your XRP. I chose Bitcoin Cash.

To buy XRP, you first want to deposit your other crypto in Bitsane. Click the Deposit button to display your unique wallet address.

This is the address you’ll plug into Coinbase so it knows where to send the other cryptocurrency.

I decided to exchange 0.15 bitcoin cash for the equivalent amount in XRP. The fee was a few pennies.

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