To understand the motives of those who buy XRP, it is useful to understand why other foreign currencies are not bought on the same exchanges. The most important reason that keeps many others from buying XRPs is the perception that the cost to buy them will be prohibitive. In other words, they feel they need to hold onto cash for longer periods to reap the benefits of holding them. That’s a tough sell when you consider that there is an unlimited supply of XRPs out there and that prices have been falling for quite some time. So, in addition to the limited supply of the coins, there is also a limited supply of people who have the nerve to make the move and buy them.
So, let’s talk about buying XRP. The simplest way to buy XRP is to open an account at a major online bank like Wachovia or Bank of America. There is even a platform available called trader that you can use with your bank account to buy XRP. Once you’ve done that, you’d then transfer your money over to your virtual accounts in the world of XRPs. You could then use your virtual bank account to fund the purchase with any amount of money that you choose.
If you don’t want to use your bank or online bank to buy XRPs, the next best option is to go with one of the many Crypto brokers who offer the ability to transfer US dollars over the internet. The process is pretty simple. First, you would open an account with the Crypto broker you plan to use. Next, you would set up a funded position with the broker where you would hold the virtual currency to make a profit on the base as well as out of base trades that you make. The FX broker would then deposit the money into your funded position, allowing you to buy XRPs whenever you wish.
Of course, while institutional investors are jumping on the bandwagon, individual investors who are looking for a good return on their investment are also joining in the purchasing of XRP and other Cryptocurrency Exchanges. This has created a very favorable environment for those who want to buy XRP and other XRP currencies.
The benefits of this type of trading are that the liquidity is very high (because numerous currencies are being traded on the Crypto exchanges), and there are fewer broker fees to be paid. The largest drawback is that you can only access the Crypto exchanges from within the country that you are trading in, which can limit your ability to place trades on some international stock exchanges. On the plus side, however, you have access to the most current prices for the most valuable currencies, making it easy to get an accurate picture of how they will do once they hit their exchanges.
One of the other ways that you can buy XRPs if you don’t want to transfer USD is through the foreign exchange marketplaces. These are the online brokers who allow you to trade in foreign currencies on their websites. However, like the FX exchange websites, these foreign exchange markets are restricted to domestic investors. If you decide that you want to invest in another currency, such as the EUR/USD, then you will have to get involved with an FX broker so that you can invest directly in that currency. As you can see, there are several advantages and disadvantages associated with both buying XRP and selling ERC20 tokens on the Crypto exchanges. If you are planning to use the RLP (real-life portfolio) approach when investing in the cryptocurrency, then it would probably be best for you to stick with buying ERC20 coins and investing in the RLP portfolio. Although there are some risks associated with investing in this newer and less traditional asset class, it is worth learning more about this newer asset class and the opportunities that it can provide for you and your investors. It is also important to remember that this is a fast-paced and exciting industry, and investors should always keep their eyes open for new opportunities.