how to sell xrp

Beyond that, these brokers are industry-recognized brokers with markets in different parts of the world. Also, they comply with existing regulations from regulatory bodies while also improving the features on their platforms to ease trading processes for users. Once the sell order has been filled and completed, the final step is to visit the Withdrawal page to initiate a transfer of the proceeds into a preferred payment method. The options will vary based on the user’s location and preferred currency. For an estimate of how long it takes to transfer XRP, read this article. Despite the legal challenges, Ripple Labs has expanded its global reach, developed new products and services, and made progress in securing regulatory approvals in certain countries.

  1. However, it is very easy to forget the private keys to such a wallet, especially when they are written down.
  2. Selling XRP, the digital currency of the Ripple network, is a process that can be carried out on various cryptocurrency exchanges.
  3. Alternatively, you can use the search icon to look for a Ripple pair of your choice and you’ll still find yourself at the trade section.
  4. The court ruling also led the SEC to drop the lawsuit’s charges against individual Ripple executives, CEO Brad Garlinghouse and co-founder Chris Larsen, in October 2023.
  5. So you should have at least that amount of Ripple before you can sell.

XRP was designed as a utility token and a settlement layer for cross-border payments within the Ripple ecosystem. In March 2021, PayPal expanded its crypto services to include the ability to checkout with crypto at millions of online merchants. However, PayPal has not yet announced any plans to support XRP payments. Crypto ATMs are kiosks that allow users to buy and sell cryptocurrencies using cash or debit cards. Crypto ATMs provide a convenient way for individuals to access cryptocurrencies without the need for a traditional cryptocurrency exchange account. However, P2P services may have lower liquidity and higher transaction costs compared to centralized exchanges.

While some other exchanges peg their minimum withdrawable amount at a higher limit, eToro brought the threshold low without reducing the quality of its services. Minimum limit for XRP withdrawals is 17.7 XRP with a percentage fee of 0.5. This goes to show that eToro is actually user-friendly not only in terms of user interface but also in fees for every activity carried out on the exchange. As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase…. Due to how highly-placed it is, Ripple is regarded as an investment choice for investors. Despite knowing how to buy the crypto asset to hold for sometime as an investment strategy, most of them are normally at loss on how to sell after making gains as planned on it.

Deposit XRP tokens

To sell Ripple and buy USDT is a good way to preserve the value of your funds, as Tether is a stablecoin, which means that its value will always remain the same — $1 per coin. The exchange has a $500 limit on the first transaction, and after four days, the limit goes up to $1000. However, after a month, all limitations are lifted, and you are free to transfer any amount you want.

They also provide platforms for such asset classes to be traded by crypto traders. Despite being bound by one aim, you may actually find different services on these platforms. This means that apart from buying and selling crypto, these exchanges may have services peculiar to them.

how to sell xrp

An investor has to first convert the asset to USDT via spot trading before transferring the funds to the P2P platform. While some investors might see this as a hassle and costly, we believe the major benefit of using this method is the variety of payment methods on the P2P. is one of the oldest crypto-to-crypto exchanges operating in the market. The platform started in China in 2013 before moving to the Cayman Islands following the mass exodus of crypto firms from China.

After making your account, you will also be asked to enable two-factor verification. From there on, depositing XRP is pretty easy, and all you really need to do is generate a deposit address and a deposit tag. Next up is Changelly, which is an excellent exchange if you wish to buy XRP in exchange for another cryptocurrency. Changelly does not offer XRP trading pairs against fiat, but it will let you buy it with coins like Bitcoin or Ethereum. To start, you can try an exchange that will allow you to deposit your XRP directly from your wallet, convert it into USD, and withdraw the funds to your card or bank account.

Before you sell: Things to look out for

The procedure generally begins with setting up an account on a chosen exchange, where one’s identity is verified to comply with regulations. The next step involves transferring XRP to the exchange account, where it can be sold either for fiat currency, like USD, or other cryptocurrencies. Also, some of these brokers boast of other impressive features like staking, borrowing or even allowing users to pay for services using their accounts on the brokers’ platforms. These brokers record massive daily trading volume which means that it is really easy to find liquidity for that asset you are holding. In fact, all these brokers have become household names among investors and traders as they are dedicated to providing seamless transactions on cryptocurrency. They have been able to build trust over the years as brokers you can buy and sell Ripple on.

how to sell xrp

Next up is Kraken – a well-known exchange that requires a lot of data in order to have your account verified. Apart from your name, country, date of birth, and phone number, you must also provide proof of residence, your ID, and a social security number if you are based in the US. While you can technically use any coin listed on the platform, the best options are BTC and ETH, as they offer the highest liquidity. Wire transfer withdrawals are possible too, with a 0.09% fee, while the minimum fee is $15. You can easily deposit your XRP without a deposit fee, and you can perform cash withdrawal with a fixed fee of $3.45.

After that, you will be free to buy Ripple on pretty much any exchange. This can be done via another crypto, or with fiat currencies like USD, EUR, or GBP. Of course, in order to buy XRP with fiat, you will need to use fiat-to-crypto exchanges like Bitstamp and Binance.

How does Ripple differ from other cryptocurrencies like Bitcoin?

However, the main focus of XRP remains on improving the efficiency of the global payments infrastructure. In light of the above, some exchanges have been able to pass these parameters with a view to offering the best to their users. Other exchanges have fallen short of these parameters and do not enjoy so much signups or daily trading volume as the former. Giving their users nothing less than premium services, a handful of exchanges allow their customers to use copy trading or trading bots services.

How To Sell XRP To Cash

After that, you will have to confirm your account via the email address that you used. Ripple (XRP) is one of the top-ranking cryptocurrencies by market cap, and it currently sits at the fourth spot on the list of largest cryptos. A seasoned cryptocurrency expert since 2014, Steven is renowned for his insightful token price performance analysis and is now eager to shape the global crypto narrative. Often, you can swap your XRP for other cryptocurrencies on brokers like eToro or Coinbase. Once you complete a swap, the actual value of Ripple sold reflects on the crypto you choose. In this guide, we recommend selling Ripple via an exchange as you are guaranteed safety and received your fiat.

How to Sell Ripple?

It is known if investors and holders of the XRP token are required to pay taxes on the asset since the issue is still sub judice (still in court). But Bitcoin investors have to pay taxes on both short term and long term gains according to the new crypto tax guidelines by the US Internal Revenue Service. Funds withdrawal on eToro is a hassle-free process as long as the necessary requirements have been met. Reviews from other users on eToro’s withdrawal process are mostly positive. There are instances when withdrawal challenges could arise, but these rarely happen. It could either be that a user is operating an account from a country blacklisted by the platform.