You’ve probably heard about Ripple’s XRP, but didn’t know it’s one of the top coins for sending money to people abroad. It’s like the Usain Bolt of online payments, especially for those international transactions that banks take forever to process 🚤.
No wonder US banks like American Express and Standard Chartered have integrated XRP into their systems. And Nigerians won’t carry last when it comes to buying coins with potential, so many Nigerians have XRP in their portfolios 😀. If you’re in Nigeria and wondering how to buy XRP with Naira, here’s a quick guide to walk you through the steps 👇.
What is XRP?
XRP is the native cryptocurrency of the Ripple ecosystem. The decentralised payment platform was built to handle fast and cheap digital transactions, especially international or cross-border payments. That’s why many banks and financial institutions prefer XRP over many other coins.
Need more information about XRP? Check out this detailed blog post on “What is XRP” to understand how it works.
What Can You Use XRP for in Nigeria?
The primary purpose of XRP is to process fast and cheap crypto transactions. But there are many things you can do with the crypto as a Nigerian.
Send Money Abroad Easily
Imagine sending funds to your family member or your lover in another country at ridiculously low fees and super fast speed compared to the usual cash payment platforms. This is where XRP shines! With XRP, you can send money abroad and receive funds instantly using XRP.
Once they receive the XRP funds, they can easily convert it to their local currency using an exchange, and have the cash in no time.
Accept Payments for Your Global Business
Cross-border transactions and XRP are a match made in heaven. That’s why many business owners, especially those with international customers, accept XRP as a means of payment for their goods and services.
This helps them process payments more efficiently to keep things running smoothly across their suppliers or partners abroad.
Pay for Stuff Online
Though this is not really common in Nigeria yet, you can use XRP to pay for online items at supported stores. For instance, if you’re building a website, you can pay with XRP on Namecheap. You can also pay with XRP when buying a cold crypto wallet from Ledger, the popular crypto wallet brand. But, transactions are usually processed via a third-party platform called Bitpay.
Trade Crypto
Like other cryptocurrencies, XRP experiences price swings. So, you can buy and sell XRP on cryptocurrency exchanges like Quidax. This provides the opportunity to potentially make profits if the coin’s price increases. But, things can also go the other way, so always do your own research before trading.
Not sure how to begin? Here are some effective crypto trading strategies to help you.
Invest in Crypto
There are many ways to invest in XRP. You can buy and hold the coin for potential gains from future price increases. But, unlike proof-of-stake (PoS) coins like Ethereum, you can’t stake XRP in decentralised finance (DeFi) platforms. Instead, you can use it as collateral for crypto loans, making it easy to hold your coin and while getting access to more liquidity.
How to Buy Ripple XRP in Nigeria
Ready to buy XRP in Nigeria? There are two possible options. You can buy XRP on Quidax or a decentralized exchange (DEX). But if you’d like the option of buying XRP using Naira, USDT, or another crypto, Quidax is your best bet.
How to Buy XRP With Naira on Quidax
You can buy and sell XRP on Quidax using the simple steps below:
- Sign up on the Quidax website or app
- Complete KYC
- Deposit naira directly from your bank account or via the Pocket (Abeg) app.
- Search for “XRP” in the “Wallets” section
- Enter the amount of XRP you want to buy and complete the transaction
How to Buy XRP on Decentralised Exchanges (DEXs)
- Set up a crypto wallet like Phantom Wallet and Trust Wallet
- Fund the wallet with Tether (USDT) or any other coin you can exchange for XRP (You can buy this from Quidax and transfer it to your wallet).
- Connect your Wallet to the DEX
- Swap the USDT or any other crypto purchased for XRP
Note that your transaction may attract fees and there may be a slight difference between the amount you’re expecting and how much you eventually get.
Why Buy XRP on Quidax?
Here are a few reasons to choose Quidax for buying and selling XRP.
Naira Deposits and Withdrawals
No crypto? No problem. Quidax allows you to deposit Naira and trade crypto or withdraw your profits in Naira with ease. No middleman, no third party. Just smooth ways to buy and sell XRP using your local currency ⚡.
Instant Trading
You can buy or sell XRP instantly using the Quidax Instant Swap or Order Book. Whichever you choose, you can say goodbye to transaction delays and long wait times. Once you hit the “Buy” or “Sell” button, your XRP order will be processed instantly ✅.
Low Fees
Whether you are buying or selling XRP on Quidax, our fees are super low to ensure your money remains where it belongs – in your wallet. With the most competitive fees on the market, you can enjoy the best value for every trade or swap 💰.
High Level Security
Your safety is our priority at Quidax. That’s why we have advanced security tools to safeguard our website, data, and funds. These include secure encryption protocols to protect the website from hacks and two-factor authentication (2FA). So, you can sleep easy at night, knowing your crypto funds are in safe hands 🛡️.
Final Thoughts
There are many reasons to buy Ripple XRP in Nigeria – from processing international payments to investing in the token for potential gains. With future developments and adoption, we could see XRP become a top choice for crypto payments alongside Bitcoin and USDT.
Ready to join the Ripple party? Sign up on Quidax and get trading!
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
