Have you heard about the cryptocurrency Ripple but you don’t know how to acquire it? If so, the following information was made for you. Ripple is not simply one more cryptocurrency among many others, it is the virtual currency with the third highest market capitalization in the world – following the well-known cryptocurrencies Bitcoin and Ethereum. Its price has skyrocketed as of late. In April 2017, its price increased by 206% in one day. If you are reading this, it is probably because you are interested in trading with Ripple via CFDs; you can buy and sell Ripple CFDs with Plus500 without paying any commissions by clicking here (CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail CFD accounts lose money).
Would you like to learn more about turning a profit with this cryptocurrency? If so, please feel free to read the remainder of this article in which we will be analyzing all of the things that you will need to know in order to trade Ripple CFDs.
Ripple is a cryptocurrency that works directly with banks and, to make things easier, Ripple tries to do away with all of the unnecessary costs and intermediaries involved in purchasing it. Ripple has grown exponentially ever since its creation – ever since, its growth has been incredible and seems to be unstoppable. Ripple also goes by the acronym XRP.
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How to buy Ripple from within the UK or any other country
If you are interested in buying Ripple from within the UK, Australia, Ireland or any other country, we will tell you the steps necessary to do so in the safest and most reliable way possible; this method can be used by anyone interested in trading with cryptocurrencies.
The following are step by step instructions for buying and selling Ripple CFDs with a trustworthy broker.
- Click on this link to create an account with Plus500 (76.4% of retail CFD accounts lose money) one of the most reliable brokers for trading Ripple.
- Click on the button labeled “Start trading now”.
- Input your personal information into the required fields and click on “Create account”.
As you can see, there are only three simple steps to follow in order to create an entirely free account that you can use to start buying and selling Ripple whenever you feel ready to trade your own capital. Creating this account is entirely free of charge, but when you want to begin trading with real money, you will need to make the minimum initial deposit of 100 euros or dollars which you can trade however you like.
With this account, you will be able to start trading with Ripple. Whenever you feel ready to begin, the second step it to search for Ripple among the available CFDs in the broker’s Cryptocurrency category and to choose the type of operation you would like to perform: buying or selling. By trading with Plus500, a CFD broker, you will have the possibility of turning a profit if Ripple’s price increases, but also if it decreases, depending on the type of operation you have chosen; you can choose to short-sell Ripple which amounts to selling the cryptocurrency without having previously bought any.
CFDs also make it possible to trade using leverage. Using leverage is a way of increasing potential profits, but it also implies a greater risk for your capital.
Cryptocurrency constitutes one of the most popular new payment methods in the world. Ripple is similar to Bitcoin in the sense that it is a “peer-2-peer” system, meaning that it is a form of decentralized digital currency. It represents one of the most effective ways of converting fiat money into cryptocurrency. Ripple has enabled the Bitcoin economy to spread to other parts of the world and to a wider audience by simplifying transaction confirmations.
Of course, in order to buy and sell Ripple via CFDs, you will first need to purchase some of this cryptocurrency using a fiat currency; available payment methods vary from broker to broker. In this article, we are discussing how to acquire Ripple with Plus500. This broker accepts the various payment methods outlined below:
PayPal is currently one of the most popular payment processors in the world – you will most likely already have heard of it. If you have money in your PayPal account, you can use it to trading in Ripple CFDs with Plus500 by depositing funds into your trading account.
Visa and Mastercard
Almost everyone has either a Visa or Mastercard credit/debit card these days. And, being one of the most highly regarded brokers in the world, Plus500 allows its clients to deposit funds to their trading account via either of these credit/debit cards in order to purchase Ripple – or any other asset.
Skrill is currently one of the most successful online wallets. In the same way as cryptocurrencies, Skrill’s internet presence has grown a great deal in the last few years and has now become one of the most popular payment processors on the internet. As a result, traders can also use Skrill to deposit funds into their Plus500 trading account in order to purchase Ripple.
Another commonly used payment method – albeit a slower one – is the bank transfer. You can use a bank transfer to deposit funds into your Plus500 trading account from your bank account. It will take an average of two days for the transaction to be processed; if you are interested in starting to trade right away, this is probably not the best payment method to use.
What factors influence Ripple’s value?
If someone was able to know at exactly what moment Ripple’s price was going to increase or decrease, he/she would have at his/her disposal the ability to earn unlimited profits. It would be similar to knowing the winning lottery numbers in advance. Of course, this is not possible, but there is a way to attempt to predict XRP’s future market behavior.
The key concept in understanding XRP’s price – and the price of all cryptocurrencies – is supply and demand. What does that mean? It means, for example, that if many people are interested in selling Ripple at any given time and that few people are interested in buying it, Ripple’s price is likely to decrease; the opposite is also true: if many people are interested in buying and few people are interested in selling, Ripple’s price will likely increase. Trading in the purchase or sale of this cryptocurrency is based on attempting to predict whether Ripple’s price will go up or down in the immediate future.
You may now be asking yourself: how can I know what its supply and demand will be? As we mentioned before, this is impossible to know with any certainty, but there is some data available for analysis – beginning with Ripple’s supply. Just like with most of the other well-known cryptocurrencies such as Bitcoin, Litecoin, Zcash, Monero, Bitcoin Gold, Dash, Bitcoin Cash, Nem, and Ethereum, the maximum quantity of Ripple coins is finite; every day more coins are created, but there is an upper-most limit that can never be exceeded.
Ripple is similar to other cryptocurrencies in some regards, but in other regards, it is substantially different: Ripple has a total maximum of 100 billion coins and it was put on the market with its total maximum number of coins already in existence; contrary to other cryptocurrencies, Ripple’s supply decreases over time. What does all this mean? It means that XRP’s supply is getting smaller with the passage of time which results in an increase in Ripple’s price as time passes; the fewer coins there are, the more each one is worth.
Now that we have taken a look at the supply side of the equation, we will move on to investigating Ripple’s demand which is much harder to determine. Attempting to determine how many people will be interested in purchasing Ripple in the future is something that can be established by analyzing current market trends. This is all the truer if we take into account the fact that an ever-increasing number of people are beginning to use cryptocurrency – a global trend which is gaining more importance every day. Cryptocurrencies have simplified the way in which payments are made around the world and everything seems to suggest that they will continue to increase in popularity, perhaps even to the point of becoming the standard form of global currency.
Ripple is known as a bridge currency, meaning that its value is quoted against that of other global currencies such as the dollar, the euro, and Bitcoin. Others factors that could have an influence on XRP’s demand in the immediate future are the fact that Ripple is very easy to use, it has a structure which is easy to comprehend and it offers a very high degree of security. All of these factors seem to indicate that Ripple is a solid cryptocurrency with a promising future. Nevertheless, as with any form of trading, trading Ripple CFDs implies putting your capital at risk; you need to be prudent since it is possible that new developments could influence market behavior and people’s preferences in the future. You should try to stay informed of all developments in order to make the right decision at the right time.
Trustworthy and inexpensive broker
As you have probably noticed by now, we have written this article with a view towards purchasing Ripple with the online broker Plus500 – with good reason. This is because if you are looking to buy and/or sell Ripple via CFDs, you will need to make use of an online broker’s trading platform.
Why choose Plus500? Because, in the first place, not all brokers are the same with it comes to buying and selling cryptocurrencies due to the fact that not all brokers include assets such as Ripple, Bitcoin and Ethereum among their tradable assets. Plus500 is one of the only brokers to allow this type of trading; other brokers have yet to incorporate these new assets.
We feel that among the few brokers that allow trading with Ripple, Plus500 is one of the most trustworthy, due to the fact that all signs point to it being a safe broker and not a scam. While there is no definitive method for ascertaining a broker’s trustworthiness with 100% certainty, Plus500 satisfies all of our requirements for positively assessing a broker: to begin with, it is overseen by highly reputable European regulatory bodies.
Plus500UK Ltd authorized & regulated by the FCA (#509909) in the United Kingdom. Moreover, Plus500AU Pty Ltd (ACN 153301681),is licensed by ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. Plus500 Ltd is listed on the Main Market of the London Stock Exchange. All of these characteristics lead us to consider this broker to be one of the safest currently on the market. The fact that Plus500’s stock is traded on the stock market makes this broker even more reliable because any company that is listed on the stock market must make the details of its account balances publicly known and submit them for periodical external audit.
In addition to Plus500’s high degree of regulation, the second factor which makes us recommend this broker is that it does not charge its clients any commissions for trading. This does not mean that it provides free trading but rather that this broker uses a spread system instead of a commission-based system. Furthermore, Plus500’s spreads are among the lowest on the market. To start buying or selling Ripple CFDs with Plus500 without paying any commissions, click here (76.4% of retail CFD accounts lose money).
Free Demo account
In addition to its high reliability and not charging any commissions, there is an additional element which has been responsible for Plus500’s great success: its free demo account. The demo account is a high-quality trading simulator which reproduces all of the same market conditions as a real money account. Although the demo account is only available in English, it does not have any time or money limitations. The demo account will allow you to practice trading with Ripple, Bitcoin, stocks, commodities, currencies on the Forex market as well as other assets.
You can make unlimited use of the demo account, which provides you with an unlimited amount of virtual currency, in any way like. You can use it to develop your own Ripple trading strategy or to open buy or sell orders and observe how the cryptocurrency’s price evolves over time. The advantage of using the demo account is that you will not be putting any of your own capital at risk. Whenever you feel ready, you can switch over to trading using your real money account.
We have come to the end of this article discussing how to buy and sell Ripple with the online broker Plus500. The ball is now in your court, and it is up to you to decide whether or not to trade in this cryptocurrency. Its price has continued to increase recently, but this does not mean that it will do so forever. All trading have a degree of risk involved and trading is about analyzing market conditions and trying to predict whether the price of an asset will increase or decrease in the future. Trading can allow you to turn a profit, but there is always the risk of losing money as well. Fortunately, CFD trading allows you to make a profit whether an asset’s price goes up or down depending on whether you have chosen to buy or to short-sell it. To start buying and selling Ripple CFDs with Plus500 without paying any commissions, click here (76.4% of retail CFD accounts lose money).