How To Sell XRP 5 Methods To Sell XRP For Cash In 2024

Traders can easily withdraw their earnings into their bank accounts. Depending on the user’s chosen payment method, the funds can take anywhere from 1-5 business days before it reflects. Bitstamp supports SEPA, international wire transfer, automated clearing house (ACH), and FPS for UK investors. FPS transfers are processed within 24 hours, while the processing time for buying with ACH transfers is 2-5 business days. To cash out XRP, one typically needs to sell their XRP for fiat currency such as US Dollars on a cryptocurrency exchange. After the sale, the funds can be withdrawn to a bank account supported by the exchange.

1. The eToro platform was created with new and seasoned experienced traders in mind.
2. Following complete verification, you can go ahead to deposit funds into your account.
3. There is a cap on the no fees up to a total trading volume of $1,000 for the last 30 days which is great for smaller XRP investors looking to sell their holdings.
4. If you want to sell your XRP on the same platform you used to purchase them in the first place, skip ahead to step 2.

In between that period when your investment is yet to attain the target you set, a lot of things might happen given that the crypto market is volatile. Which is why it is advisable to always do analysis whenever you want to invest. The analysis keeps your actions in check even when the trade is going the wrong way.

How to Sell Ripple from Wallet

For example, Kraken users will need to click on the “Wallets” tab and select their XRP wallet. Then, it’s a matter of clicking “Generate Deposit Address” and using the address https://www.topbitcoinnews.org/ provided as the destination for your XRP transfer. Once you’ve chosen an exchange, sign up for an account by providing your email address and creating a password.

You can then use the box on the right to search for the pair you want to trade, and then select the type of order you want to place. The final step is to type in the amount of XRP you want to sell and click on “Sell XRP”. You can now move the XRP you want to sell from your external wallet into your exchange wallet. This means you’ll need to find the XRP address of your exchange wallet so that you know exactly where to send your XRP when transferring them from an external wallet. For example, if you’re using Kraken, you can click the “Sell” tab at the top of the screen and search for XRP in the list of coins .

The XRP Ledger is a decentralized network that maintains a record of XRP transactions. XRP can be purchased from centralized cryptocurrency exchanges, peer-to-peer (P2P) services, decentralized finance (DeFi) platforms, cryptocurrency ATMs, payment processors, and mobile wallets. Initially, the XRP Ledger used digital assets called “ripples,” which evolved into the XRP currency token we know today.

However, eToro has provided many channels through which funds can be deposited into your account. Sending fiat to your eToro account may be done through your credit/debit card, local bank account or via third party payments service like PayPal, Skrill or Neteller. Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. Binance requires new users to complete the know-your-customer (KYC) to access its full services and to withdraw funds in fiat to a bank account. Upload a copy of a recent driver’s license and complete the face verification process.

What Is XRP?

You can make the conversion using a calculator or you can do it by hand. Like most cryptocurrencies, XRP value is volatile so any conversion calculation may change quickly. This post tells you what to know about converting Ripple XRP to U.S. dollars, including where to secure the best exchange rates and how to avoid paying high fees on your conversion. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. Of course, it is if you are receiving a payment, and you need the money, but that’s a different matter. Other than that, you can exchange your XRP for USDT, although there is a trading fee of 0.08%, which is also rather low.

However, our top pick is the Binance exchange because it comes with deep liquidity, low fees, and strong anti-scam protocols that ensure crypto users are not defrauded. Another option is Bitrue which is heavily focused on XRP trading pairs. XRP is one of the most popular cryptocurrencies and can be sold on various exchanges and brokers. Sifting through each option can be time-consuming, so we have listed and compared the best exchanges to convert XRP into cash. Our top reveals of where to sell XRP take into account the verification process, trading fees, withdrawal fees and overall ease of use.

Best Crypto Platforms for Futures Copy Trading

This is not because the services they offer are entirely different from those of others but because they go extra miles in securing their users’ interest. There are some identifiable parameters used to mark out the best crypto exchanges. These parameters include security, friendly UI, efficient customer support, a guide on how to use the exchange, and a growing community. Apart from Ripple, there may be other assets you are holding in your portfolio because eToro offers numerous digital currencies and trading pairs. Thus, knowing the total value of your portfolio will help you determine if the amount of XRP you wish to sell is up to the required amount. So you should have at least that amount of Ripple before you can sell.

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. When the funds have reflected in your account, then you can go ahead to buy Ripple directly in the fiat currency deposited or instead buy USDT and then buy XRP. Before making a choice of brokers, it is necessary to look for certain benchmarks. If these benchmarks have not been met by any broker, it puts a question to the broker’s reputation. Some of these benchmarks include a simple and friendly user interface, quick-response customer support, compliance with regulations, security, numerous trading pairs, etc.

Bitfinex is an exchange that will allow you to deposit your XRP and sell it for USD with ease. While it used to have deposit fees for small amounts up to $1,000 between 2017 and December 2019, it has since removed them after finding a way to stop small deposits spam. Some will let you trade without verification, though you’ll have to in order to withdraw your funds. Verification usually requires providing truthful details about yourself — such as your name and ID. After that, you will have to wait for your information to be reviewed and verified.

Step 5: Withdrawal Requirements and Exchange Rates

Even investors who buy crypto assets to hold for long term always know when they are in profits so they can sell. Not doing so could be a dangerous move and you might eventually lose your https://www.bitcoin-mining.biz/ funds. However, trading the asset or any other crypto asset is always reliant on whether there is liquidity for it. Ripple has much liquidity, due to its position among cryptocurrencies.

1 billion XRP tokens are slowly released from escrow every month to prevent tokens from flooding the market and inflating the price of XRP. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from https://www.coinbreakingnews.info/ a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. With the XRP you want to sell now in your exchange wallet, it’s time to click through to your exchange’s trading page and search for the pair you want to trade, such as XRP/USD.

The first step to sell XRP is to decide on what type of cryptocurrency services to use. For this tutorial, we will use our number one pick Binance as an example. The platform has the option to buy cryptocurrencies using debit cards and bank transfers from the platform but does not permit withdrawing fiat currency directly from the exchange.