Which exchanges?

[LordAMV]

hello all,

Just wondering which exchanges are considered the best for buying and selling XRP with/for USD.  I see several (GateHub, BitStamp, BitSane, BitFlip, etc.)

Aside from the discrepancies in price, are any of these more reliable than others, or do any have unusually long authentication times or limits on how much you can buy or sell?

[Zedy44]

BitStamp is great if you are in the EU (free SEPA bank transfers).  I even use it as a US-based investor, but the process to get my money over to the exchange is a bit more convoluted and requires either an internal wire transfer, a credit card, or buying BTC/LTC/ETH from coinbase and transfering it to BitStamp to then sell or trade for XRP.  BitStamp is high quality though and has an excellent track record.

All exchanges are dealing with slowdowns in authentication times due to the recent spike in interest around crypto.  BitStamp had traditionally had longer authentication times in general before the recent slowdown due to their above average KYC protocols.  IMHO it's in your best interest to pick an exchange that has good KYC practice so if it takes a little longer to get registered it's probably a more reliable exchange.

The only trading limits I've seen are based on credit/debit card usage, which make sense.  The exchanges themselves may offer a reduced trading fee if you maintain a certain level of trading volume (this won't matter unless you are trading in excess of $20,000/month regularly).

[MegatronVI]

BitStamp seems to be the popular recommendation, though I'm stuck with verification. In the meantime, i went with Binance. Even though I'm in verification process, i was able to buy/sell.

[RippleG]

I use Kraken to buy my XRP. The user interface kinda sucks but overall it works well.

Since I already had a Coinbase account linked to my bank account I use it to fund my purchases. So in GDAX I pull money from Coinbase and then buy Litecoin. I send Litecoin to Kraken and sell it for USD. Then I place my XRP buy in Kraken.

Alternatively I could buy Bitcoin in GDAX, send it to Kraken, and buy XRP with Bitcoin but I just don't like Bitcoin.

[LordAMV]

3 hours ago, RippleG said:

I use Kraken to buy my XRP. The user interface kinda sucks but overall it works well.

Since I already had a Coinbase account linked to my bank account I use it to fund my purchases. So in GDAX I pull money from Coinbase and then buy Litecoin. I send Litecoin to Kraken and sell it for USD. Then I place my XRP buy in Kraken.

Alternatively I could buy Bitcoin in GDAX, send it to Kraken, and buy XRP with Bitcoin but I just don't like Bitcoin.

Interesting - my experience with Kraken has been shaky - still sitting at Tier 0 after a week and when I try to further validate it says the function is disabled.  No way to fund my account there at all.  

Why don't you like Bitcoin?  It seems you get more XRP with Bitcoin than an equivalent value in USD (not accounting for fees, etc.)

[LordAMV]

Also curious - does it make any sense to buy LTC or ETH somewhere, send it to Changelly and buy XRP that way?  Or are the fees too high?

[RippleG]

Changelly has higher fees than Kraken and you can not place an order. You only get it at market price.

Bitcoin has higher fees and takes longer to settle. Maybe just my personal preference to use LTC -> USD -> XRP.

[LordAMV]

Ok so at the moment the only exchanges I can work on are Coinbase/GDAX and GateHub.  Waiting on auth for the others..

Is my only alternative to buy either BTC or ETH, send to GateHub and buy XRP that way?  I assume using ETH is better?

 

[MegatronVI]

You can use binance - thats what i did. You can buy/sell during verification process 

[LordAMV]

6 hours ago, RippleG said:

Changelly has higher fees than Kraken and you can not place an order. You only get it at market price.

Bitcoin has higher fees and takes longer to settle. Maybe just my personal preference to use LTC -> USD -> XRP.

Do you have any general pieces of advice for placing an order vs. market price?  Are you just placing an order for x amount at a price lower than the market and crossing your fingers?

[RippleG]

I typically look at daily range and place my order near the Low end of the 24-48 hour time frame. But with the 2018 explosion of XRP this might be more difficult ...