Ripple is one of the leading crypto projects. It is all about improving financial transactions. Unlike the other cryptocurrencies that tend to alienate traditional financial institutions, Ripple corporate with them. Financial institutions use it for blockchain technology access as it supports fast and secure cross-border transactions.
XRP is the Ripple platform’s token. Even though the token had an earlier easy route to crypto dominance, it has had inroads with the US Securities and Exchange Commission(SEC) which filed a lawsuit against it. The legal issues led to delisting from various crypto exchanges and some institutional investors growing cold feet about its adoption.
Still, ranked 7th top crypto based on market cap, XRP the coin remains one of the best investment options. Also, most of the crypto exchanges have since begun to reintroduce the coin after reports emerged that SEC has no concrete case. It, therefore, is an ideal coin to trade. Here is how to sell the token for USD and Bitcoin.
How to sell Ripple for USD
Given the current market setup, it is not the best time to sell Ripple. You should instead be holding on to them. The coin has recently moved from the lows of $0.7 to trade at the current $1.12. All indications are that it is on a bull run and its value will keep rising. However, if you feel inclined to sell, then you can do that.
If you are looking to sell Ripple for USD, then the best option is through a crypto exchange that allows selling cryptos for fiat currencies. Some of the best crypto exchanges to opt for include Coinbase, BTC markets and CoinSpot.
To sell the token on the crypto exchange, you first have to create an account. You then have to verify the account by providing personal details such as government provided identification documents like ID card, passport or driver’s license.
The next step is to deposit the XRP you wish to sell on the account. Once it reflects on the account, click on the sell icon on the exchange’s interface. You then select USD as the sell option and proceed. Proceed to withdraw the received USD from the account using any supported payment option.
How to sell Ripple for Bitcoin
Selling Ripple for Bitcoin or any other crypto is the easiest. Once you have a verified account on the crypto exchange, you only need to swap XRP for the BTC. This is possible for any crypto exchange that provides for XRP/BTC trading pair.
How to sell Ripple vial peer-to-peer networks
Other than selling on a crypto exchange, you can opt for a peer-to-peer (P2P) option. This involves selling the XRP to another account holder in exchange for the agreed asset. For example, you transfer your XRP to the other person’s wallet and they pay you in USD.
Peer-to-peer sales come with more convenience and are fast. However, there is the concern of scams and fraud. You, therefore, have to take various safety precautions when selling Ripple through peer-to-peer networks. Avoid sharing any personal details and only work with wallets that bear “trusted seller” tags.
Ripple is currently one of the most adequate and safe investments. However, if you feel the need to sell then you do that for either USD, BTC or any other crypto. You only have to ensure safety precautions when selling.