As a leading cryptocurrency by market cap, Ripple (XRP) remains a popular choice for investors. While purchasing XRP with Bitcoin is straightforward, buying Ripple with fiat currencies like USD or EUR requires a specialized platform. GateHub, a wallet built on the Ripple protocol, simplifies this process.
This guide walks you through buying Ripple on GateHub using USD, though the platform also supports EUR, CNY, and JPY transactions.
Step 1: Create a GateHub Account
- Visit the GateHub Website.
- Click Sign Up (top-right corner).
- Enter your email, password, complete the CAPTCHA, and agree to the Terms & Privacy Policy.
- Click SIGN UP.
- Save your Recovery Key—this is crucial for account recovery.
- Check your email for an activation link and verify your account.
- Log in using your credentials.
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Step 2: Identity Verification
- Select Individual account type.
- Provide a phone number and verify via SMS code.
- (Optional) Set a GateHub name (acts as a public address) and profile picture.
- Fill in personal details: full name, date of birth, and address.
- Upload ID proof (e.g., passport) and proof of residency (e.g., utility bill).
- Wait for verification (typically under 24 hours).
Note: Verification ensures compliance with anti-money laundering (AML) regulations.
Step 3: Deposit USD
- From the Home page, click Connect a Gateway.
- Choose USD and confirm.
- Navigate to Deposit/Receive > Bank for wire instructions.
- Transfer funds via bank wire (processing time varies by institution).
Step 4: Buy Ripple (XRP)
- Go to the Exchange tab.
- Unlock your wallet with your password.
- Ensure USD is on the "Spend" side (toggle with the Flip button).
- Enter the USD amount—XRP equivalent auto-populates.
- Confirm the exchange.
Success! Your XRP balance now appears in your wallet.
FAQs
1. Can I buy XRP with credit/debit cards on GateHub?
No, GateHub only supports bank transfers for USD deposits.
2. How long do USD deposits take?
Typically 1–5 business days, depending on your bank.
3. Is GateHub safe for XRP storage?
GateHub uses Ripple’s protocol for security, but hardware wallets are recommended for long-term holdings.
4. What fees apply when buying XRP?
GateHub charges a 0.25% trading fee; bank wire fees vary.
5. Can I trade XRP for other cryptocurrencies?
Yes, after depositing XRP, you can trade it for BTC or ETH on supported exchanges.
👉 Explore advanced XRP trading strategies
Key Takeaways
- GateHub specializes in fiat-to-XRP transactions.
- Always secure your Recovery Key—it’s irreplaceable.
- Verification is mandatory for USD deposits but usually fast.
By following these steps, you’ve mastered buying Ripple safely and efficiently. For more crypto insights, stay tuned!