How to buy XRP (Ripple) in Australia

XRP is the utility token of the XRP Ledger, which is a decentralised payments network designed by Ripple Labs to offer ultra-fast and low cost global transactions.

It has remained one of the largest cryptocurrencies by market capitalisation since it launched in 2012 and has surged in late 2024, rising from around US$0.50 to more than US$2 in the space of a few weeks.

How to buy XRP in 5 steps

The easiest place to buy XRP (Ripple) in Australia is via a recognised cryptocurrency exchange. If this is your first time buying XRP or crypto in general, you'll need to have following handy: a computer or phone, photo ID and a way to pay.

You can follow the steps below to get started:

1. Find a crypto exchange. The easiest way to buy XRP is from a cryptocurrency exchange. When looking at exchanges, it's worth comparing any trading and payment fees, as well as those that let you buy XRP directly with AUD.
2. Create an account. Once you've picked an exchange, you'll need to create and verify your account using a form of photo ID.
3. Make a deposit. Once your account is verified, you can deposit AUD using one of the exchange's supported payment methods. This could be by bank transfer, card or Paypal. Alternatively you could use an instant purchase method.
4. Buy XRP. You're now ready to purchase XRP. On beginner-friendly exchanges, this is as simple as entering the AUD or XRP amount you want to purchase and clicking "buy".
5. Secure your XRP. Consider transferring your XRP to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.

Our picks for the best places to buy

Best for beginners

Swyftx

Finder Award

Best for instant purchases

OKX

Best Overall

Kraken

Finder Award

Where to buy XRP in Australia

If this is your first time buying cryptocurrency, it might be easier to use an exchange that lets you buy XRP with Australian dollars directly via your preferred payment method.

You can compare crypto exchanges based on their payment method options below:

1 - 10 of 24

Product GXFCY	Deposit methods	Fiat currencies	Cryptocurrencies	Offer	Disclaimer	Go to site
CoinSpot Exclusive	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	1	500	Get $20 in BTC when you make a deposit. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...
eToro Crypto Best Rated BrandExclusive	Bank transfer, Credit card, Debit card, PayPal, eToro Money	27	107	Get a US$50 bonus when you buy at least US$500 in crypto. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...
OKX	Bank transfer, Credit card, Cryptocurrency, Debit card	1	302	Get $20 in BTC when you trade $20 in the first 14 days after opening an account. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...
Bitcoin.com.au	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	1	30	Get $10 of Bitcoin when you verify your account. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...
Kraken Finder Award	Credit card, Cryptocurrency, Debit card, PayPal, PayID	7	295			Go to site Capital at risk View details Compare	loading Fetching your data...
Swyftx Finder AwardExclusive	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	3	432	Get $20 in BTC when you verify your account. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...
Independent Reserve	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	4	30	Get $10 of Bitcoin when you verify your account. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...
Coinstash Finder AwardExclusive	Bank transfer, Cryptocurrency, Osko, PayID	1	1071	Finder exclusive: Get up to $200 BTC when you sign up and trade certain amounts. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...
Day1x	Credit card, Cryptocurrency, PayID, Bank Wire	1	23			Go to site Capital at risk View details Compare	loading Fetching your data...
Digital Surge Exclusive	Bank transfer, Cryptocurrency, Osko, PayID	1	402	Receive $10 BTC on sign-up and verification. T&Cs apply.		Go to site Capital at risk View details Compare	loading Fetching your data...

Disclaimer: Star ratings are only displayed for products with 10 or more reviews.

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What will I need to buy XRP?

What is XRP?

XRP (XRP) was launched in 2012 by David Schwartz, Jed McCaleb and Arthur Britto. It was designed as a digital payment network to reduce the cost of international payments.

The XRP Ledger is an open-source and peer-to-peer decentralised payment gateway that aims to provide "utility for the new global economy". XRP is the native token of the XRP network and is used by the company Ripple Labs Inc for cross-border settlements.

It acts as an infrastructure layer that supports low-cost, borderless transactions and allows for transferring money and cryptocurrency.

Unlike other cryptos such as BTC and ETH where new blocks are generated via mining or staking, XRP pre-mined 100 billion tokens at its launch.

These tokens were distributed to individuals and companies, with a large majority of tokens held by just a few entities.

What is Ripple?

Ripple is the payment and settlement protocol that underpins the XRP Ledger. It is distributed open source network and can be used to support currency exchange, remittances and real-time settlements across borders.

How is XRP taxed?

XRP is treated as an asset by the Australian Tax Office (ATO), which means that if you've bought, sold or earned XRP during the financial year, you will need to report it at tax time.

Investors will need to declare any profits as capital gains, while losses can be used to reduce your tax bill or offset any future gains.

If you make frequent trades in a professional capacity you may be classified as a trader, which is a bit more complex.

Learn more in our guide to crypto tax in Australia or use our round-up of the best crypto tax software to make tax reporting easier.

What's the latest on the XRP court case?

In late 2020, the Securities and Exchange Commission (SEC) sued Ripple Labs over the allegation that it had raised more than $1 billion through the sale of XRP in an unregistered security offering.

These are the latest developments on the XRP legal battle (as of December 2024):

• In October 2024, the Securities and Exchange Commission (SEC) appealed the 2023 ruling that found that the XRP token was not a security.⁴
• In August 2024, a Manhattan judge ordered Ripple Labs to pay US$125 million in penalties to the SEC over improperly selling the XRP token.⁵
• In July 2023, US District Judge Analisa Torres ruled that "Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges," according to a court statement.

Frequently asked questions

• What is the easiest way to buy XRP?

  If you don't already own crypto, the easiest way to buy XRP is with Australian dollar.

  To get started, choose a cryptocurrency trading platform like Cointree that allows you to deposit AUD.

  Alternatively, you may need to convert your AUDs into BTC or ETH first, which you can then trade for XRP.

• Can I buy shares in Ripple?

  Ripple Labs, the company behind Ripple and XRP, is not publicly-traded, which means you can't buy Ripple shares or invest directly in the company.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.