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Crypto & XRP Noob


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Hi Everyone 

 

Glad to have found this forum :).

I have bough some XRP on Revolut at the following buys (0.37,0.42,0.35,0.40 cents). I have about 1600 coins. the plan is to buy a couple hundred XRP each month and see where we are by the end of 2021. 

I also have a kraken & binance account but no transactions yet on them. 

Which accounts would you all recommend for buying & selling, Revolut looks to be the higher fees on basic account.

 

Willing to try learn about XRP etc and the plan it to HODL for long term investment. any help of pointers in the right direction is much appreciated :mail1:

Edited by Luckycharms_74
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Hello and welcome :bye:
 

Plenty of info throughout the site - past and present. Your plan seems pretty good to assess at the EOY. Hopefully a bit of clarity around the SEC case later in the year will see an increase in price. Taking profits before the next bear market is also something to consider.

Revolut is a pricier option and obviously cannot withdraw either. If you can use an exchange, it would be better in the long run. Bitstamp is a good EU based exchange as an on-ramp. And Binance is the best option for alt-coins.

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Thanks for that info. Yeah I was thinking about selling when the next dip happens then buying back at lower price. The hard part is picking a point to do both at :D

 

With regard to revolut, if I had known about the withdrawal I wouldn’t have. I’m guessing I can just withdraw to my revolut account as Euro and spend from my Revolut account. It’s withdrawing to my bank account that I can’t do, am I right in that ?

I will look info that EU exchange Bitstamp as well, Binance is good but very technical unless I use the lite version 

 

thanks again 

Edited by Luckycharms_74
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You can buy, sell, exchange, and spend XRP within Revolut, but you can’t transfer the XRP out of Revolut, like to another wallet or exchange. Your XRP are basically stuck on Revolut.

If you buy XRP on an exchange like Bitstamp, Binance, Coinbase etc, you can transfer your XRP between exchanges, or to a hardware wallet like a Nano Ledger so you can self-custody, or maybe you would like to utilise your XRP and earn interest by staking it in a liquidity pool etc. None of this can be done from Revolut.

Hope that helps :) 

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