Ripple (XRP) is one of the leading cryptocurrencies in the cryptocurrency market. XRP’s capitalization and trading volume regularly years in the market’s TOP4. With that level of liquidity, there will always be many people wanting to buy and sell Ripple.
XRP was created by the Ripple company. The company hopes to apply its technology to make large interbank transactions. However, please don’t confuse them that they use XRP to do that.
XRP has a fairly large and established community. With many different Crypto exchanges and P2P exchange platforms, anyone can buy and sell Ripple at any time. Trading cryptocurrencies though is simpler than it used to be. But for newbies, it can still be a bit complicated.
This article will guide how to sell XRP to USD, or sell XRP to EUR. With the tools introduced and evaluated in more detail.
How to buy, own, and sell Ripple?
Any crypto investor is required first with a cryptocurrency. All store purchases require a separate wallet set up in advance. When you sign up for an account and use an exchange. Then by default you trust the wallet of the exchange itself.
If you want to set up your own wallet. May consider the following few names. Depending on the context of your wallet usage, you can choose from different types of wallets.
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For example, if you regularly trade XRP via mobile phone, you can choose a wallet:
- Abra wallet
- Atomic Wallet
- Toast wallet
If you do not normally trade over the phone, but use a personal computer, you can choose:
If you put security first, the longer term XRP storage is. Then you can use the Ledger Nano S hardware wallet. This is one of the best hardware wallets available today.
Setting up a wallet is not too difficult. As long as you download the wallet app or add the wallet as an extension in the browser. Then launch it and follow the instructions.
How to sell XRP to USD?
There are several ways for you to sell XRP quickly. The most common is to use an exchange with a large amount of liquidity. The exchange also allows to deposit XRP directly from your wallet. Also allows you to withdraw cash after selling to your card or bank account.
Alternatively, you can also find exchanges that allow you to load XPP. Then buy and sell XRP into another cryptocurrency. And eventually withdraw to XRP.
In the market, it is not difficult to find platforms that are available to sell XRP. You just need to choose long-established, reputable brands with good liquidity to register for an account. Do not choose unfamiliar, too new, low liquidity exchanges, as you may lose money.
However, just sign up for an account on an exchange. Signing up sometimes takes a little longer as it requires you to go through an identity verification (KYC) step. Even if you don’t do KYC, you may not be allowed to trade or have a transaction limit limit. This KYC step requires you to provide your own identification information.
How long or how quickly this KYC step depends on the floor. It can take just a few minutes, sometimes up to a few days, depending on the floor. Anyone who’s invested in or sold coins over the long term has more than one verified exchange account.
Next, send XRP from your wallet to the exchange. Remember to copy the wallet address carefully. Then perform the manipulation of sending XRP from the wallet to the exchange slowly. After XRP has been on the exchange. You need to create a sell order at the price you want. If the sale is successful, the USD is still on the floor. You can withdraw it to your bank account directly on the exchange’s withdrawal. Note: this entire process may incur a number of fees, such as transaction fees or withdrawal fees.
Trading XRP for another cryptocurrency
As noted above. Sometimes, depending on demand, you don’t want to sell XRP for USD. But want to exchange XRP for another cryptocurrency. You can choose from a number of exchanges that support XRP trading pairs.
Often there will be some exchanges that support XRP / BTC or XRP / ETH, or XRP / USDT. USDT is a relatively stable $ 1 stabcoin.
Selling XRP in exchange for volatile cryptocurrencies like ETH or BTC could affect your assets. Then selling XRP to USDT would be a better option
Should I sell XRP or should I hold?
Should I sell XRP? This question probably does not need to be posed if you are in serious need of money. However, if someone gave XRP to you as a gift and you don’t know what to do with it. HOLD is probably not a bad idea.
The reality is that no one knows in advance what will happen to any cryptocurrencies at this point in time. Bitcoin itself was deemed worthless when it first appeared, but eight years later, its price was $ 20,000 per coin.
It’s very unlikely that XRP will see such a price point, but that doesn’t mean its price won’t go up. And chances are much more profitable if you decide to wait to sell it someday in the future.
The company that created this coin, Ripple Labs, has partnered with hundreds of banks and financial institutions around the world. They have provided these banks with a number of additional payment solutions, many of which have been used to send immediate payments.
If this development continues, XRP will be the right cryptocurrency to send payments to anyone anywhere in the world in seconds. Contrary to current systems, it takes days to complete international transactions in even the smallest amount of volume.
Hence, XRP has the potential to become one of the most used cryptocurrencies. Though it may be tempting to sell it right now and get back some USD that you can use right away. In addition, regular trading of ripple is more risky because of market volatility. And HOLDing can certainly be more profitable than that.
Ultimately, the decision to sell Ripple or not is up to you. But holding onto it is worth considering.
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