How to buy Ripple Quicker and Cheaper
When getting into cryptocurrency I found out that some of the cheaper coins often called “altcoins” were not on the CoinBase website making it harder and often more expensive to purchase. The specific altcoin I wanted to purchse was “RippleX” (XPR) which is not on the CoinBase site. The first time I tried it was pretty expensive. Here’s what I learned to save you money the next time you want to buy RippleX.
Purchase LiteCoin on CoinBase
The good thing about using LiteCoin over BitCoin is that LiteCoin is much cheaper. My first experience I wanted to transfer $20 of BitCoin to my Binance account and it would mean a network fee of $16 just to finish the transaction. But when I purchased LiteCoin that same $20 transfer was actually only $2.
The 2nd benefit to purchasing LiteCoin over BitCoin is that the transaction times are shorter. I’ve seen BitCoin transfers take over 10 hours to get through the network, but with LiteCoin I’ve seen it take 15 minutes.
Transfer your LiteCoin from CoinBase to your Binance account
One of the drawbacks of Binance is that it is an exchange that isn’t that user friendly, but in my experience “if it’s not broken, don’t fix it.”.
You should get email confirmations of the transaction
Here’s a great article on how to transfer LiteCoin into your Binance account.
https://support.binance.com/hc/en-us/articles/115000622212-How-to-Register-and-Deposit-on-Binance
Sell your LiteCoin on Binance
- When you sell your LiteCoin or any coin on Binance it automatically gets converted to BitCoin (which is cheaper than sending BitCoin from your CoinBase account)
Buy Ripple with the BitCoin now in your CoinBase account.
Here’s another great article that has some great illustration and reiterates the above points.
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Good Information! Thank you
Thanks for reading.