How to buy Ripple (XRP) in Australia in 2021

How to buy Ripple (XRP) in Australia in 2021

Daniel Chan

September 6, 2021


What is Ripple (XRP)?

Ripple is a financial network designed to be used by banks and other financial institutions. It is also the name of the company behind both the Ripple network and XRP, a cryptocurrency that works on the Ripple network. The Ripple network acts as the medium of currency transfer between two parties, with the transactions charged a small fee as XRP. One thing to note is that the Ripple network can facilitate the transfer of commodities like gold, fiat currencies and other cryptocurrencies.

XRP, being the native cryptocurrency of the Ripple network, can be mined and is often seen as the less complicated version of Bitcoin. XRP was developed to work as an intermediary between two networks or currency, whether those currencies are fiat or digital in nature. With Ripple being a global network used by financial institutions, XRP sits between different currencies and commodities and acts as the medium of exchange between the two.

XRP runs on the XRP ledger and can be mined like other cryptocurrencies, bought as an investment or as a coin to facilitate transactions within the Ripple network. Investors and traders can also buy it as a coin to be exchanged with other cryptocurrencies.

Where can I buy XRP?

XRP might not be as popular as the largest cryptocurrencies, Bitcoin and Ethereum, but it remains a top 10 coin by market capitalisation and is available on many crypto exchanges. To ensure that the exchange you go with is trustworthy, it is best to choose one that is well-known, especially if you plan to hold your XRP in a wallet provided by the exchange. The best crypto exchanges have tight security measures to ensure all the cryptocurrencies you hold are protected.

There are also many mobile apps where you can buy XRP with fiat currency (AUD) or using other cryptocurrency, for example Bitcoin. The best apps are the ones that are created by a cryptocurrency exchange, such as Swyftx or CoinSpot. Ensure you do not buy XRP through newer or lesser-known apps because you cannot be sure of the security protections in place. Additionally, with very few users on these new apps, it is difficult to gauge how trustworthy they are.

The best exchanges for Aussies to buy XRP are Swyftx, Independent Reserve and Digital Surge. All three are trusted and legitimate exchanges, registered with AUSTRAC.  They are extremely secure and have some of the best exchange rates, prices and fees on the market. Among all these exchanges, Swyftx comes out on top because of their mobile app, $10 FREE bitcoin and a unique demo mode that lets new users get a hang of the platform before they decide to deposit real money and buy XRP.

How to buy Ripple (XRP)?

Buying XRP in Australia takes 4 steps, each of which we will look at below.

Step 1: Choose a crypto exchange

Step 2: Open an account

Step 3: Deposit funds

Step 4: Buy XRP

Step 1 - Choose a crypto exchange

Before you buy XRP, you need to find an exchange that you want to use. There are a lot of things to look at and consider before depositing money in a cryptocurrency exchange. The first one is whether they have the cryptocurrency you would like to buy. In this case, you need to check the exchange allows you to buy XRP. 

Next, check the features and security the exchange has. Some of the features to look for include demo accounts, deposit and withdrawal methods, fees, customer support options and mobile app availability. In my test of the top Australian crypto exchanges, I determine my favourite 3 recommendations, listed below. In this step-by-step guide on buying XRP, I will use screenshots from my Swyftx account. If you want to make it easier to follow along, register an account on Swyftx.

Top 3 Recommendations



   Best Overall  





Most Trusted




Digital Surge

   Best for Low Fees



Still deciding where to buy Ripple? Take a look here to see an overview of the best Aussie crypto exchanges. If you want to trade and invest in XRP using your mobile phone, make sure you check out the best crypto mobile apps for iOS and Android.

Step 2 - Open an account

Once you settle on an exchange you like, the next step is opening an account. Opening an account with a cryptocurrency exchange is relatively easy, as many of them only have a short form that you need to fill out. Once you have created the account, you will need to verify your identity.

Depending on the cryptocurrency exchange you choose in Australia, they might ask you for your government-issued identification, residential address, email address and phone number. The verification process usually takes just a few minutes.

The process is very straightforward on Swyftx. Click on this link: and fill out the short form with your personal details.

Once your Swyftx account has been created, you will see the Swyftx interface. Now you need to complete the verification of your account. On the left, in the dark menu, click Profile, which brings out a dropdown menu, then click Verification (highlighted blue below). Follow the instructions to verify your mobile, email address and ID which will take you just a few minutes.

Step 3 - Deposit funds

Once you have been verified, you can go ahead and deposit money into your Swyftx account. Click on Quick Deposit in the menu on the left and then click on Deposit AUD (circled in blue in the screenshot below).

You will be taken to the Deposit Methods page, where you can choose how you want to deposit funds. I find the best option is Bank Transfer using Osko (first option on the screen) since it's instant, meaning you can buy XRP straight after.

The next option is using PayID. PayID is supported by many of the big banks in Australia, however it can take up to 1 business day for the funds to be credited. POLI is another deposit method supported by many Australian banks, which credits your account instantly.

If you would like to use your credit card or debit card to buy XRP, you need to use Swyftx, as it is one of the only Australian crypto exchanges that accept it. It will take 30-45 minutes for funds to be cleared into your Swyftx account. All deposit methods on Swyftx are free of charge.

To use instant Bank Transfer (Osko), click on the Bank Transfer tab, which expands, showing you Swyftx's bank account details (circled in blue in the screenshot below). Open another browser tab, and sign in to your online banking website. Transfer the amount you want to deposit to the bank details provided, just like you would if you were sending money to a friend. Go back to your Swyftx account and refresh that page. You should find your funds available in the Balance section at the bottom of the menu.

Step 4 - Buy XRP

As soon as the deposit is complete, it is time to buy some XRP. The method for doing this will be similar for most exchanges but the interface might be different. If you are using Swyftx, Click on Trade near the top of the menu, then Buy (highlighted in blue below). Now type in Ripple or XRP next to the magnifying glass icon and click on Ripple, in the Assets list. Once you click on Ripple, you will see its price on the screen, which continually fluctuates before your eyes.

Choose how much money (in AUD) that you would like to spend (circled in green below). I bought $500 in my example, then click the blue Instant Buy button.

You will see a pop-up window, asking you to confirm the amount of XRP you want to buy, the rate (price) of XRP, the fee for the transaction, and the total amount in AUD. Once you have checked all the details and you want to proceed, click the green Confirm Buy button, and your XRP will be automatically in your online Ripple wallet. Congratulations, you have bought your first XRP!

Frequently Asked Questions:

How do I keep my XRP safe?

Cryptocurrency exchanges put a lot of effort into ensuring that your XRP and other cryptocurrencies you buy are safe. However, it is recommended that you move your XRP and other coins to a personal digital wallet. You can use either a hot wallet app which is software-based or a cold wallet, which is hardware-based. Before purchasing a hardware cold wallet, it is important to ensure that it can hold XRP as some of them are made to only store Bitcoin.

Is buying XRP legal in Australia?

Yes, buying, selling and exchanging XRP is legal in Australia. However, you need to verify your identity before buying, trading or investing in XRP.

What is the difference between Ripple, XRP Ledger and XRP?

Ripple is a private company that developed the Ripple Network. XRP is the cryptocurrency used to facilitate transfers within that network and the XRP ledger is a digital ledger used to store transactions in the Ripple network (transactions using XRP).

Is the XRP Ledger decentralised?

One of the common misconceptions, and concerns, about XRP is that it uses the Ripple network which is owned by a company. Ripple contributes to the open-source code of the Ripple network but it does not control the network in any way.  The XRP ledger is decentralised meaning that no one single entity controls it.

Where can I find more information on Ripple and XRP?

The official Ripple company website has all the information you need about Ripple, the Ripple Network, the XRP Ledger and XRP.

Does this method work for all cryptocurrencies or only Ripple?

If you can find the cryptocurrency on your crypto exchange, you can buy that coin using the steps above. Swyftx has an extensive range of over 270+ different cryptocurrencies, so you most likely follow this article to buy the coin you want. If you want to buy Bitcoin, I have a specific guide to buying Bitcoin.

Can I buy XRP using PayPal?

Many exchanges in Australia do not allow you to buy cryptocurrencies using PayPal. However, PayPal has an option for investing in cryptocurrencies so we have to wait and see if they allow XRP and support Australia in the future. In the meantime, I recommend another deposit method. Swyftx accepts many fee-free methods of payment such as bank transfer, POLi, PayID, credit cards and debit cards.

If Paypal is your only option, there is a workaround solution, which is to open an eToro Australia account. On eToro you are allowed to deposit money using PayPal, but the difference is that you don't own any XRP coins. You are actually trading CFDs (contracts for difference), which is similar in terms of making money as the price of Ripple rises. For more info, read this review of eToro Australia

How do I buy XRP with debit or credit card?

Many Australian cryptocurrency exchanges do not support credit and debit card deposits, but Swyftx is one that does. You can follow the steps above to open a Swyftx account, then click on the credit card option when you reach Step 3

How do I buy Ripple instantly?

If you are looking to buy XRP instantly, without having to deposit first, then you should have a look at Easy Crypto Australia exchange. Using Easy Crypto Australia, you don't need to pre-fund your account with any fiat currency before buying Ripple. Instead, when you purchase XRP, you send the money straight from your bank, and the XRP is transferred straight to your personal wallet. Your fiat and digital currencies are never held on the Easy Crypto Australia platform, so you always have total control over your assets. To find out more about Easy Crypto Australia, read this review here.

How do I buy Bitcoin?

It's easy to buy Bitcoin using the same method. Here is my easy-to-follow guide

How to buy XRP with USDT?

To buy Ripple using your USDT,  you need to use an exchange that allows coin swaps (my recommendation is the safe Swyftx exchange for Aussies). Swyftx offers coin swaps, and the process is easy. First, send your USDT to the USDT wallet address found in your Swyftx account. Once you have done this, click Trade in the menu on the left, then Swap. Type in USDT in the search field and click on USD Tether under Assets. Choose XRP as the coin to swap to, then enter how much USDT you want to spend. Once you are ready to buy your XRP, click the blue Swap button below.

Is buying Ripple in Australia safe?

Yes, it is safe to buy, sell and trade Ripple in Australia, as long as you are using a legitimate and trusted cryptocurrency exchange. The best Aussie exchanges (for example Swyftx) feature multi-layered security, and are registered with AUSTRAC so you can buy coins safely. Below is a comparison table that provides a snapshot of these top exchanges.

Comparison Table of the Best Crypto Exchanges in Australia

Digital Surge
Crypto Exchange
Crypto Exchange
Digital Surge
Fiat Currencies
Fiat Currencies
AUD, USD, GBP, EUR & 11 more
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
BTC, BTG, BCH, ADA, ETH, ETC & 270+ more
BTC, ETH, LTC, XRP, BCH, ADA & 300+ more
BTC, ETH, BNB, ADA, XRP & 270+ more
BTC, ETH, BCH, XRP, LTC, ADA & 24 more
BTC, ETH, LTC, BNB, ADA, XRP & 300+ more
Deposit Methods
Deposit Methods
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
PayID, POLi, OSKO, Cryptocurrency
Bank Transfer, Credit card, Debit card, PayPal, POLi
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
Market order: 0.1%, Instant buy: 1%
Market order: starts from 0.5%, Instant buy: 0.5%
Included in spreads
0.1% provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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