How to Buy XRP in the USA: The Ultimate 2024 Guide

Suchet Dhindsa Salvesen
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Suchet Salvesen
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Suchet is a Norwegian economist, entrepreneur, and investor, serving as the CFO and COO of Brainfund. With over a decade of experience in global expansion, venture capital, and emerging technologies, he earned his MBA from the NMBU School of Business & Economics. He held dual bachelor's degrees from the University of South-Eastern Norway. His career...
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How to Buy XRP in the USA


You can purchase XRP in the USA through various crypto exchanges, including eToro and Binance U.S.

These are the steps to follow when buying XRP from eToro:

  • Step 1: Create an eToro account.
  • Step 2: Verify your account.
  • Step 3: Sign in to your account.
  • Step 4: Fund your eToro account.
  • Step 5: Buy XRP.

How to buy XRP in the USA?

The basic must-haves for buying XRP in the United States include a smartphone or computer, a payment method (debit or credit card), photo identification, and an internet connection.

A top favorite crypto exchange among many investors is the eToro platform.

For an easy setup, click the [Get Started] button.

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eToro is a popular online trading platform for crypto assets, stocks, and ETFs, featuring low fees and a user-friendly interface. With a free eToro wallet and social features like messaging boards, users can copy experienced traders and access numerous assets. Take a look at what makes this platform perfect for starting your trading journey.

  • Provides an attractive, communal atmosphere.

  • Offers zero commission on ETFs.

  • Extensive selection of educational resources.

  • Mobile app with trading features.

  • Smooth account opening and bank transfer.

  • Limited number of cryptocurrencies.

  • Limited customer support.

  • No crypto-to-crypto trading pairs.

Step 1: Create an Account on eToro

On eToro, a user can open a free account seamlessly.

Go to the home page and click [Start Investing].

Create an account.

The basic requirements for opening an account on the platform include a username, a password, and a valid e-mail address.

Exchange commission
Sign-up process.

Step 2: Verify your Account

After creating the account, verification is then required. You must provide some documents, including a clear photograph and a government-issued Identity card.

After giving these, your account will be verified, and you may begin to trade XRP.

Exchange brokerage services like eToro require a Know-Your-Customer (KYC) verification process to verify the authenticity of the users.

This method helps improve the exchange platform’s security and limits transaction fraud.

Verify your eToro account

Step 3: Sign in to your account

Once you are clear with the verification, you can use the information from the sign-up stage to log in to your account.

All you need to do is head to the eToro sign-in page and enter your registered e-mail address/username and password.

Login process.
Login process.

Step 4: Fund your eToro account

The funds deposited in the crypto exchange can be used to buy Ripple XRP.

eToro allows payment using crypto, fiat money, and other digital deposit methods, including credit or debit cards.

Click the [Deposit] icon on the homepage and select your preferred deposit method.

Deposit funds
Account funding.

Step 5: Buy XRP

If you have funded your account using any payment options, you are ready to buy, sell, and trade XRP. This is the last stage before you hold XRP in your eToro account.

Click on the [Crypto] icon on the exchange. This shows a list of all the cryptocurrencies that are available on eToro.

Locate XRP among the options and select the amount of XRP to purchase.

Buy, sell, and trade XRP cryptocurrency.
Buy, sell, and trade XRP cryptocurrency.

Verify the details of your transactions and click the confirm button; you will be credited with the right amount of XRP immediately or with a slight delay, depending on your payment method.

Congratulations, you now have XRP in your account and can begin trading.

This is the easiest way to buy XRP in the USA.

What Payment Methods Can I Use to Buy XRP in the US?

There are various payment methods available to buy XRP in the US.

Credit or debit card purchase

Card payment is easy and often preferred by many crypto users and investors. The option is flexible and can be used anywhere without hefty transfer fees. eToro allows payment using Visa and Mastercard.

For this payment method, you need to enter the amount you want to deposit, which is calculated in USD. Then, enter the card number in the designated space, including the expiry date and CVV.

Lastly, you must enter your name that matches what is on the card and your eToro account name. Once this is done, click the [Deposit] button.

Account funding
Multiple payment methods are available.

There are advantages to using your credit card purchases made on the exchange. First, swiftly make fund deposits. Second, receive immediate credit upon transaction completion. Third, eToro securely processes card payments, ensuring security on a safe platform.

Bank transfer method

This is another safe option provided by eToro. Although the bank transfer method is cost-effective, it is equally a slower option. Unlike digital payments, bank transfers typically require 3-5 working days for reflection in your account. It is often recommended for domestic transfers, as wire transfers may take even longer.

Bank owned servers
Safe bank transfer method.

Crypto deposit

This is a payment option that long-term crypto investors and users highly prefer. You don’t necessarily have to use fiat money to purchase XRP on the eToro exchange platform. If you have crypto, you can use crypto deposits.

You can transfer the crypto asset from your wallet to the eToro exchange. This will let you trade the crypto for XRP. One commonly used cryptocurrency is Bitcoin, and you will get the equivalent value of XRP in your account.

What is XRP?

XRP, also called Ripple XRP, is an open-source digital asset developed to be used as a global payment method. It is a native token with a currency code similar to Ethereum.

The XRP tokens operate on the decentralized blockchain, the XRP ledger, and are facilitated by the Ripple XRP protocol. XRP was pre-mined before being launched to the public and distributed and stored to ensure a stable supply for a long time.

Buy crypto
Open-source digital payment asset.

David Schwartz and Arthur Britto of Ripple Labs developed the Ripple cryptocurrency. This company has built a name developing better payment methods to provide financial institutions with a crypto platform for faster payments and cryptocurrency exchange services.

People often refer to Ripple XRP as a centralized crypto asset since a private company operates a series of network servers that secure it. Additionally, Ripple Labs exercises control over the supply of 100 billion pre-mined Ripple XRP coins, managing their availability in response to market demand. Although this centralized model allows the Ripple XRP to perform quicker transactions,

However, the XRP crypto platform goes beyond the confines of XRP coins alone. It actively supports multiple fiat currencies, such as Yen, Pound, Euro, and Dollars, and other crypto assets like Bitcoin.

Since its launch, however, the XRP software wallets have been implemented in over 100 companies across the globe, assisting with faster wire transfers and better transactions. This seems to set the Ripple network aside from other crypto platforms as it provides the XRP currency and serves as a currency exchange and payment processing platform.

7 Things to Consider Before Choosing a Crypto Exchange

Crypto exchanges are online platforms used to trade cryptocurrencies; centralized and decentralized exchanges occur on these platforms, although centralized exchanges are the most common. Some of the most popular exchanges include Binance and eToro.

Comparing the various cryptocurrency exchanges is important to ensure you choose a platform with the most fitting features. Below are some of the things to consider before picking a cryptocurrency exchange.

1. Security

Every crypto exchange has some methods of security that protect its users from losing their investments. It is essential to ascertain the exchange’s security protocol. Mt. Gox and Coincheck were previously hacked and have since become cautionary tales for prospective cryptocurrency investors to ensure the presence of security protocols of any crypto exchange they intend to use.

One basic security standard for assessing an exchange’s security protocol is the presence of two-factor authentication (2FA). An exchange lacking a 2FA may not be advisable to invest in.

In addition, beyond checking the mere presence of a 2FA, it is also important to ascertain what type of 2FA is compatible. Some exchanges offer mobile-based 2FAs, while others allow for Google authenticators, Yubikey, or Authy. Non-mobile-based authentication is arguably more secure.

Private key
Secure investment protection.

It may also be worth checking for other security measures, such as cold storage reserves and custodial storage services.

Finally, it is essential to note that one of the biggest problems in cryptocurrency currently is the pump-and-dump schemes, and typically, exchanges are crucial for preventing them. In a pump-and-dump scheme, scammers spread false information to create a buying frenzy to ‘pump up’ the price of a crypto coin and then sell their share while the price is inflated.

After selling their share, these scammers stop hyping up the coin, which causes its price to drop and investors to lose money.

2. Purchase Method

The method used in purchasing cryptocurrency on the exchange platform varies across platforms. While some exchanges accept bank transfers, some credit or debit card purchases, cards, or PayPal, others only accept cryptocurrencies for purchases.

XRP purchase on an exchange platform.
Cryptocurrency purchase on an exchange platform.

Thus, if you do not own a cryptocurrency, you must choose an exchange that accepts fiat currency. The payment methods also carry different transaction fees. It is recommended to consider cost-effective payment methods as well.

3. Asset Prices and Trading Fees

The price of XRP or any other cryptocurrency varies across cryptocurrency exchanges. Some assets trade at higher or lower costs than others due to various factors. When choosing an exchange, you may want to assess the different prices of the asset you want to buy across multiple exchanges.

Assessing the trading fees associated with making transactions on the platform is also important. When you want to buy or sell XRP or other assets, the crypto exchange will often request a fee, which varies across various crypto exchanges.

4. Supported Tokens

Some crypto exchanges only support certain crypto coins; although most exchanges support Ethereum and Bitcoin, others like eToro and Binance also support some altcoins. Going for the crypto wallets or exchanges hosting multiple cryptocurrencies is necessary, increasing your chance of investing in multiple assets.

Market order XRP
Supported tokens.

5. Ease of Use

Buying XRP assets or other crypto assets should not be too difficult. As a result, it is important to assess the user interface and user experience of the website or software used. The simpler it is, the faster you can understand how to navigate it to begin trading.

In addition, you should check for a customer helpline when assessing the website. Good crypto exchanges have easy-to-access customer service, which will go a long way to help if you encounter a roadblock while trading on the website.

6. Insurance

Another thing to note when choosing an exchange is the presence of an insurance fund. Some exchanges were built to compensate customers using funds set aside for certain circumstances; some are covered by the Federal Deposit Insurance Corporation, which protects some amount for funds belonging to users residing in the United States.

Because of the volatile nature of crypto trading, it is smart to only trade on platforms with some form of backup plan set for their users. That way, if some problems occur in the future, causing users to lose their funds, they can be compensated.

7. Laws, Practices, and Regulations

Exchanges comply with various laws depending on their locations, offerings, and practices. As potential investors, it is essential to familiarize yourself with these laws. Some of these requirements include the ‘Know Your Customer’ (KYC) and ‘Anti-Money Laundering’ (AML).

Although these requirements vary across various exchanges, choosing exchanges that abide by some requirements is important as those are generally safer.

Under the KYC and AML regulations, exchanges must collect important information from their users before they begin to trade on the platform. Some of these include their government-issued IDs from their various countries, a photograph, an e-mail address, and so on.

Crypto Exchanges to Purchase XRP in the US

In addition to considering supported tokens as a factor for your crypto wallet when selecting an exchange, you should also consider whether the coin is supported in your location by the same exchange. For instance, global and popular exchanges like Binance and Coinbase list crypto assets based on site. This means that specific cryptocurrencies can be restricted from your region.

Many exchanges delist certain cryptocurrencies for some locations due to the regulations and legislation of such regions. In some cases, low usage of coins can also be the reason for delisting them on the exchange platform. The US is also one of the countries that have a strong regulatory body regarding finance, investment, and digital trading.

Due to the given reasons, not all exchanges in the US currently list XRP on their platform. Aside from eToro, you can still buy Ripple XRP from reputable exchanges like Kraken, Kucoin, and Uphold.

FinCEN-Registered Cryptocurrency Exchange

Despite the “autonomous” nature of cryptocurrency and blockchain technology, it is still guided by some regulatory bodies to ensure that it is not exploited for fraud and terrorism financing.

It is essential for US residents only to make use of crypto exchanges that are compliant with federal and state regulations. Exchanges based in the US must be registered with the Financial Crimes Enforcement Network (FinCEN), a division of the US Department of the Treasury.

This division helps protect the financial interests of the residents of the US. It also prevents unlawful practices, including financial crimes. In addition, Fin-CEN-compliant exchanges have an enhanced customer support system and can easily process payment in USD.

FinCEN-registered exchanges contribute to a more secure financial system in the US and provide better consumer protections than exchanges based in other countries.

Is XRP A Good Investment Right Now?

Based on its model, XRP rapidly gained recognition among cryptocurrency users and financial institutions. The coin was developed as a native token XRP for the Ripple blockchain network and was made to rival conventional payment systems.

One of the strong features of the coin is the ease it provides in making cross-border payments. Financial institutions and individuals can easily make transactions across various parts of the world using the Ripple network and XRP coin. It provides a seamless and efficient way of making global transactions.

XRP can also operate using very low energy, unlike other digital currencies. The eco-friendly nature of XRP makes it widely adopted and boosts the coin’s prominence and market value. However, the value of XRP has dropped sharply in recent times due to the legal action it is currently experiencing.

The XRP Controversy

It is widely accepted that XRP is a promising crypto asset in its early formation period. However, the future of digital assets seems to be looking sketchy following the legal battles it faces.

The native coin of Ripple Labs has faced many controversies following the ongoing lawsuit with the US Securities and Exchange Commission (SEC). The SEC has charged the blockchain technology company to court for allegedly raising over $1.3 billion through unregistered security offerings. Two executives are also being prosecuted for profiting from the proceedings.

buy xrp in us
Promising early-stage crypto asset.

The effect of this controversy is the reduced rate of users and the devaluation of the crypto asset. XRP is valued at less than 1 USD compared to its all-time high. In addition to the depreciation of the coin, several popular exchanges like Coinbase have delisted XRP from their platform, citing “low usage” as a reason. While it is not unusual to see coins being delisted, the legal battles facing the cryptocurrency company further cast doubt in the minds of the investors.

Despite the legal issues and low valuation of XRP, it still ranks high as number 6 in the crypto ecosystem based on market capitalization. The CEO of Ripple has also offered comfort to its investors about the possibility of the court case finally ending in the first half of 2023.

How to buy XRP in the USA: Our Verdict

XRP is notably one of the top altcoins present in the cryptocurrency ecosystem. The XRP token and the Ripple blockchain provide practical solutions to global financial institutions by allowing payments to be made across borders at record speed.

Despite the large market cap of XRP and the potential of the native coin, it has faced controversies due to the ongoing lawsuit slammed on Ripple by the SEC. The elongated case has contributed to the devaluation of the coin and delisting from major exchanges.

eToro is one of the leading exchanges providing XRP for US-based residents. The steps for buying XRP on the decentralized exchange are simple and have been highlighted gradually in this article. This article also presents factors to consider when choosing an exchange, especially for a place like the US, where stricter regulations guide financial transactions and crypto trading.