While legislation and decentralisation might not go hand-in-hand, Bitcoin adoption might thrive with more regulation.
Since Ripple launched, it has yielded a +5,742% return on investment. It stands as the third biggest cryptocurrency in terms of trading volumes and XRP is one of the well-known tokens. The project was founded by Jed McCaleb and Chris Larsen who headed up the Ripple Company.
What is the best wallet for Ripple?
You can acquire a free Ripple wallet in South Africa through Coindirect. This allows you to buy, sell, store, convert, send and receive XRP. You can buy and sell XRP for Rands directly to your South African bank account with a free Coindirect.com account. Just sign up and fill in your details to get started here.
Three ways to purchase Ripple (XRP) on Coindirect
- Buy with your ZAR Wallet . To do this you have to deposit funds into your ZAR Wallet via bank transfers (which may take up to 3 business days depending on which bank you use).
- Buy with VISA card – This allows you to buy Ripple instantly without having to wait for your funds to reflect. You need a credit card or debit card that can function like a credit card (Cheque card) to use this method. Unverified users who have not submitted their ID can buy for up to R3,000 whereas verified users can buy for up to R15,000 per transaction.
- You can buy XRP from the marketplace from local sellers if there are offers.
How do I send Ripple?
The Coindirect Ripple (XRP) wallet has a send feature. This feature allows you to send XRP to another XRP wallet just by pressing the ‘send’ button in your XRP wallet and inserting “XRP address” and destination tag.
How do I receive Ripple?
You can send yourself XRP (Deposit XRP) from an external wallet or have others send you XRP to your Coindirect XRP wallet by clicking the ‘Receive’ button in your ripple wallet to reveal your wallet address and destination tag.
How do I sell Ripple for ZAR?
Selling XRP is as simple as clicking a ‘Sell’ button in your XRP wallet. You can either type in the amount of XRP you want to sell in terms of ZAR or type in the XRP amount to get a quote of how many ZAR you would get for that amount of Ripple (XRP).
When you sell, the money will reflect immediately in your ZAR Wallet.
To withdraw money into your bank account you will have to add a South Africa bank account to your profile for withdrawals. Do this by clicking on the ‘Profile’ icon in your Coindirect account when you are logged in, then click ‘Manage Bank Accounts’ and click ‘Add a bank account’.
Earn Free XRP
Coindirect has free Ripple wallets, but it also has a way for you to earn your own Ripple. This can happen through its Earn Program which offers rewards for referring others to the platform. When one of your referees performs their first transaction, you both receive 5 XRP. Find out more about Ripple here.