Protect your crypto. Buy Ledger Nano S hardware wallet ($59 | 59 EUR).
Coinbase is a secure crypto exchange and insured Industry-leading security and insurance means your crypto and personal info are safe.
Today, more than 35 million people in over 100 countries trust Coinbase to buy, sell, store, use and earn cryptocurrency.
$220B+ traded | $7B+ assets in custody | 100+ countries | 1,000+ employees
1) Go to www.coinbase.com and create account. Input your name, email and password and check the User Agreement Policy.
*if you already have the Coinbase account you can go to Step #3 (Buy XRP)
2) Set up two-step verification - when logging into your Coinbase account, you will need to provide your phone number which you will have to confirm with a code received by SMS.
Protect your crypto. Buy Ledger Nano S hardware wallet ($59 | 59 EUR).
Verify your identity by attaching a document (ID, passport or driver’s license).
Select ID type: Passport, Driver's License or National ID Card.
Depending on the ID type you will need to upload the front/back of the document (by phone, web cam or by choosing the scanned document on your PC) so Coinbase can verify your identity.
After your identity has been verified you will need to add your debit card / bank account to connect it with your Coinbase account.
After you have successfully linked your debit card you will be redirected to the Coinbase Home page (see below)
1) Click on the "Buy crypto" button on the Home page or go to the "Portfolio" page (www.coinbase.com/accounts) and under "Your assets" list choose XRP.
You can pay with your debit card or bank account.
2) A pop-up window will appear and now you are ready to buy your first XRP.
Choose the amount you want to spend (i.e 100 EUR or 100 USD), choose XRP in the list and finally choose your payment option (debit card or bank account).
Click on the "Preview buy" button to check the details of your purchase (the price of XRP, the purchase amount, Coinbase fee and the account you are paying with).
If everything is OK click the "Buy now" button.
If you have enough funds on your bank account the payment will go through and your transaction will be approved.
Once purchased, XRP balance is shown under your assets list on the "Portfolio" page. There is no minimum purchase amount of XRP on Coinbase.
You will also get an email confirmation that "your XRP is now available to trade on Coinbase".
Now that you have your XRP you can do the following:
- trade / convert to any other crypto on Coinbase (for example to BTC or ETH)
- sell / deposit to your fiat wallet (EUR or USD)
- send it to a hardware wallet Ledger Nano S/X (the most secure hardware wallet)
1) Click on the "Send" button in the top right menu
2) Fill out the pop-up window (click on the "Send all") and click the "Continue" button
- "To" field: copy the XRP address from your Ledger Nano and enter it here
- "XRP tag" field: leave blank
- "Pay with" field: choose XRP from the list
Click on the "Skip XRP Tag" button
When receiving XRP to your Ledger Nano S you don't need to specify a Destination Tag
Click on the "Send now" button
Enter your 2-step verification code (6 digits)*
* I recommend to use the Google Authenticator mobile app. It uses a time-based one-time 6-digits codes.
You can set up the GA on your "Security page" under the "2-step verification" (https://www.coinbase.com/settings/security_settings)
Your XRP is on its way to the Ledger Nano XRP address. XRP transaction usually arrives under 1 minute but it can take a bit longer so you need to check it regularly if it doesn't arrive on time.
Is there a minimum amount to send?
No, there is no minimum amount required to send funds to Coinbase. However, most exchanges charge a minimum of 20 XRP to send XRP. Sending XRP from Coinbase requires a minimum send of 22 XRP.
Do I need to include a Destination Tag when transacting with XRP?
Yes. The Destination Tag is mandatory for transactions for cryptocurrencies that use this technology. You must put in a correct Tag when receiving/depositing these funds into Coinbase or Binance.
When is a Destination Tag not required?
The only exception to the requirement to include the destination tag is when sending to a privately controlled cryptocurrency storage place or device such as hardware wallet Ledger Nano S/X.
A hardware wallet is one which the individual fully controls (has custody of) both the public and private keys. This is not a Coinbase wallet, i.e. one on Coinbase.com.
It is your responsibility to determine whether a Destination Tag is required by your recipient wallet. If in doubt, Coinbase strongly encourages you to send a small amount of cryptocurrency as as test send prior to attempting to send a significant amount.
Ledger Nano hardware wallet is the safest option
Ledger Nano S hardware wallet achieves maximum security by storing your private key and signing your Bitcoin/Litecoin/Ripple transactions offline (cold storage).
Why Buy Ledger Nano?
Over 2M Ledger Nano S sold worldwide
Ledger Nano S is the most secure cryptocurrency hardware wallet today
The Ledger Nano S is built around a secure chip, ensuring optimal security
The Ledger Nano S looks like a flash drive (USB). It has an OLED screen and it comes with a USB cable compatible with the USB ports of your computer.
Before you start check these pre-requirements:
- Every XRP wallet address needs to have a minimun of 20 XRP reserve. Simply send a minimum of 20 XRP to open your account. These 20 XRP will remain locked as enforced by the XRP protocol.
- Ledger Live is ready to use.
- The latest firmware is installed on your Ledger device.
- To enter a Destination tag when sending to an exchange (for example Binance or Bitstamp), click on advanced options and enter the Destination Tag given by the exchange.
- When receiving XRP to your Ledger Nano S you don't need to specify a Destination Tag
Always send a small amount first. Then verify that the transaction was properly received by the recipient address before proceeding to send larger amounts.
Cryptocurrencies hacks have become common and people who trusted the exchange might lost their cryptocurrencies.
I recommend buying the Ledger Nano S because it is a very secure hardware wallet product with an affordable price tag and it's very easy to use it.
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It is important to know that your crypto is safest when you own your private keys i.e. you keep them on the hardware wallet! Secure your crypto and buy Ledger Nano S
1) It is estimated that there was over $1.5 billion stolen from exchanges
2) QuadrigaCX, Canadian crypto exchange can't access $180 million customer funds as their CEO died traveling in India & no one knows his computer's passwords. So, Canadian crypto exchange QuadrigaCX now owes its customers $190 million and cannot access most of the funds.
3) CEO of major crypto exchange Kraken warns: "Do Not Store Crypto on Any Exchange". If you don't own your private keys your crypto is not 100% safe.
4) "But still using a hardware wallet is IMO the gold standard, particularly for long-term storage of large amounts", David Schwartz, Chief Technology Officer at Ripple
5) Andreas M. Antonopoulos; "I'll go on the record and say the Hardware Wallets are better than software and paper wallets for all except a handful of opsec/infosec experts. Security isn't about absolutes. It's all relative and complexity/operator skill are of the utmost importance."
Contact Ledger support:
To access the full documentation and Ledger Support, please visit support.ledgerwallet.com
1) Where to buy XRP (list of exchanges)
3) Coinbase - the easiest and fastest way to buy crypto with your credit / debit card
4) Wirex card
If you’re looking to keep your cryptocurrencies safe, you would need a hardware wallet and the Ledger Nano S is one of the best on the market.
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering.