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How to Buy Ripple Australia

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How to Buy Ripple Australia

When it comes to cryptocurrency investment, you’ll be hard-pressed to find a digital currency that’s as solid as Ripple or XRP. It’s an Australian favourite among crypto asset investors, and a great altcoin with a high market cap and it’s affordable when compared to the more expensive Bitcoin.

If you’re in Australia looking to buy Ripple and aren’t too keen on investing from Australian Dollars to USD, then to Ripple and back again — then we have some great tips and guides for you below.

Let’s take a look below at how to buy Ripple in Australia.

Cryptocurrency Crash Course

How to Buy Ripple Australia

To kick things off, to buy XRP you’ll want to follow the same process as investing in any other digital asset. You’ll need to find a cryptocurrency exchange that you like (more on this below) and to deposit AUD into your account for investment.

Once you deposit funds to your currency exchange you’ll be able to begin investing in Ripple, along with other coins and even fiat currency depending on the exchange you’ve chosen.

In this article, our chosen crypto exchange is the ultra-simple and fan favourite, Swyftx, so we’ll be taking a look at how to buy Ripple with this exchange.

That said, continue reading for some more information on choosing a trading platform and how to trade Ripple.

Getting Started with Swyftx

If you’ve spent any time online looking for a solid trading platform with low fees and a seamless buy/sell experience then you’ve likely come across Swyftx already. It’s one of Australia’s favourite currency exchanges and is quickly becoming a global favourite too.

With plenty of payment providers to choose from and a beginner-friendly way to buy Ripple, we’re sure Swyftx is the right place to start.

Let’s take a look below at getting started with Swyftx.

Setting up an Account

How to Buy Ripple Australia

As you’d expect, the Swyftx account set up experience is seamless. Signup takes only a few minutes, as does verification and there’s also two-factor authentication here as well, making sure you’re not at risk of any sort of cyber attack as a result of weak passwords or login issues.

All you’ll need to do to trade Ripple is make an account, verify and deposit funds and you’re good to go. Keep in mind that when it comes to funds though, this will depend on your bank’s transfer speeds – more on this below.

Head over to https://swyftx.com.au to create your account by hitting SignUp

When you’ve signed up to Swyftx, you’ll then need to find your way to the SETUP MFA section where we suggest that you enable two-factor authentication. This will make sure you’re kept secure and no one is able to sneak into your Ripple wallet on the Swyftx service – at least not with too much ease.

You’ll find the setup process under the “Security” tab in your Profile Page.

Going Through Verification

Once you’ve run through the 2FA or two-factor authentication setup process, now you’ll be able to verify your account with Swyftx. Much like stock exchange platforms, this is to make sure that your account is owned by you, and that there are no regulatory issues when it comes to taxation, etc.

All this process needs is a few documents and pieces of identification, and unlike a lot of other Ripple exchanges, it’s ultra-fast to verify.

Head over to the navigation pane, choose the Profile tab and you’ll see a Verification button.

Be sure to have your email, identification documents and a mobile number handy to verify your account.

Then your final step following this is filling in your documents on the website itself.

Keep in mind that you will need to have some sensitive documents handy here, the same ones you may have used to set up a stock trading account with ANZ for example. Again, don’t be too worried about security here as regulation requires all exchanges to keep these documents safe.

Add Your AUD Funds

How to Buy Ripple Australia

Now that you have a completed and verified account with Swyftx, you can then move on to deposit AUD into your account.

Thankfully the Aussie-based exchanged takes our currency and keeps things smooth, so you’re not going to be stuck with conversion or cross-border payment issues or even USD while you trade Ripple.

There is also the option of PayID, BPAY and other payment methods like OSKO too, however, there isn’t yet credit card or debit card support. This is good news for those who don’t want too much downtime when transfers are being made; you might miss out on an ideal price point for your coins if your bank’s transfer process takes too long.

Work on moving some AUD funds from your bank account to Swyftx and you’ll have your account ready to trade in no time.

Start To Trade Ripple (XRP)

How to Buy Ripple Australia

Now that your Swyftx account is set up and has funds available, you can start buying and selling Ripple. As the Swyftx platform’s focus on simplicity is pretty major, there’s a tonne of glanceable information right off the bat and the Ripple price will be right within view.

Head to the Trade Page

On this page, you’ll find a long list of all the cryptocurrency you’re able to invest in such as BTC, LTC and ETH, and of course, Ripple is included here too.

To buy XRP, all you’ll need to do is click on the cryptocurrency in the list, and if it isn’t there make a quick search for it in the search bar. Once you see Ripple or XRP click this option and selection how much of your deposited AUD balance you’d like to invest in XRP.

And that’s all.

You’re set up and have already started investing in Ripple through the Swyftx platform. For beginner investors in crypto, we’re happy to say it really is as simple as that.

Once you do start buying Ripple, we recommend that you open a hardware wallet on your device if you’re looking to invest and hold your Ripple balance for a long while. This will help you reduce the chance of losing these coins should there be an issue on the Swyftx end or in another wallet type.

If you’re a day trader though, keeping your XRP on Swyftx for easy access is a better alternative.

What is Ripple

How to Buy Ripple Australia

With trading Ripple out of the way, let’s take a closer look at the currency. It’s always good to know what the backbone of a cryptocurrency is and how it might look in the future on the world stage.

Remember, most cryptocurrencies are only in their early development stages, with future growth projected when they become mainstream.

Off the bat, Ripple is an open-source-focused cryptocurrency that is designed in a way that was to enable a decentralised platform and payment system — which is still in development and currently in beta testing. 

Where Ripple is Going

How to Buy Ripple Australia

The Ripple development team has outlined that their goals for the platform or the currency are to give the general population an avenue to break entirely free from fiat currency and global financial institution’s control over the financial markets.

As we would agree, these financial institutions hold almost all control when it comes to economic growth and development, and XRP’s ultimate goal is to take some of this control back and hand it off to the general consumer.

A few of the target institutions that Ripple is aiming to upend include banks, most financial sector corporations, credit card companies and PayPal to name a few. One motivator for this is that Ripple’s team doesn’t seem to like the fact that these organisations have free roam when it comes to adding fees on transactions, interest rates and other similar aspects.

The speed of transactions is also outlined by Ripple, with the currency working to cut out processing delays and to offer a seamless global experience when it comes to fiscal movements. Unlike banks or PayPal, Ripple can’t simply freeze accounts, delay financial movements or shave a small portion of value off each transition through fees, and this is arguably a more fair experience.

In all, Ripple’s end goal is to develop a completely decentralised platform or digital currency that has the ability to enhance and improve financial freedoms for users across the world. Much like the internet’s openness for information, Ripple or XRP aims to do this for the financial sector.

Who Created Ripple?

How to Buy Ripple Australia

When investing in a crypto asset, it’s also imperative to know the developer or developers who are working on the rollout. You’ll want to be sure that there isn’t anything suspicious or murky happening in the currency’s development, and understanding the creators or research and development organisation is a good place to start.


The organisation developing the Ripple currency is OpenCoin. As Ripple now climbs into the top five currencies which includes Bitcoin, Ethereum and Litecoin, it’s good to know that there’s a solid set of values behind it.

OpenCoin has made it clear that there must be a more free flow when it comes to the financial sector; which is a great thing to hear for investors in Ripple.

To stay up to date with OpenCoin there is a company blog that’s been created by the Ripple team themselves and sheds light on the company’s own personal frustrations when it comes to the movement of financial assets across the globe.

One key point to keep in mind is that OpenCoin has a major issue with the power that financial institutions hold. If a user or a bank member wants to move money, for example, they are able to do so — though, the bank can freeze, analyse and prevent these transfers from occurring at their own will. Something that, arguably, shouldn’t be allowed.

Who Is Ripple Designed For?

How to Buy Ripple Australia

Where Ripple becomes a little different from other coins is in who it’s inherently been created for.

Although just about everyone can benefit from Ripple, it has been in the works to enhance the transactional experience for Bitcoin users and other altcoin investors. This is down to the fact that Ripple is working to improve currency transfers in all ways, which includes making cryptocurrency movements a lot faster, more open and less ‘taxed’ by banks and payment services.

If you’re a Bitcoin investor, you can even see a ‘Bitcoiner’ page on the Ripple website.

For other currencies, there is RippleNet or the Ripple Network which gives you the ability to move currency from pounds, euro, dollar, yen and cryptocurrency with ease. It’s an all-rounder transaction system for all types of currencies and it is a faster experience than just about anything else out there.

A solution for banks is also possible here too, as larger entities can make use of RippleNet to instantly transfer large sums of money without delay or high fees.

The foreign exchange cost here is also much lower than most other services too, making Ripple a winner for global transactions.

Final Things to Note About Ripple

How to Buy Ripple Australia

Even though there are a tonne of positives about Ripple, there are a couple of things to note if you’re considering investing.

Ripple is an exceedingly stable cryptocurrency, especially when compared to others in the industry. It’s been operational for over five years and has a system in place that’s vetted and well-designed enough for large entities and smaller users to make use of.

This isn’t a coin where the fundamental code or blockchain-cohesive development has been poorly implemented which mitigates the risk of poor code killing the coin in the long term.

Larger investors, like Michael Arrington of TechCrunch, have also moved to invest over one hundred million dollars into the currency, making XRP also a good buy for larger, more seasoned investors too.

One minor issue we found is that Ripple isn’t always as transparent as we’d like. The company sometimes hides its token data and market capitalisation information, which effectively hides the popularity of the coin.

Payment Methods for Buying Ripple in Australia

How to Buy Ripple Australia

As expected, through Swyftx you have a tonne of options when it comes to investing in Ripple in Australia — all of which don’t involve USD transfers and conversions.

Bank Transfers

One of the simplest ways to invest in XRP is through an AUD bank transfer from a local bank account.

On Swyftx, you can quickly link all of the bank accounts you’d like to use for Ripple and simply transfer funds when you’re looking to invest. This is great news when it comes to taking the hassle out of investing, however, bank transfers can be a little slower than some of the other payment methods.

Expect these transfers to take around six hours, which is ideal for Ripple as the currency’s value doesn’t swing too much like some other coins.

Credit Card and Debit Cards

If you’re looking to use a credit card for your investment in Ripple, it pains us to say that there aren’t any well-known Aussie cryptocurrency exchanges offering this service just yet. Though, there are some international ones you’re able to use.

Exchanges like Coinbase or Coinmama offer credit card and debit card payment solutions, though there are fees present here that might be far too much for you to stomach.

There are fees that reach 3.99 per cent for Coinbase, and on Coinmama you’ll be slugged a 5 per cent per-transaction fee.

POLi, BPAY, Osko and PayID

For high-speed payments that don’t incur ultra-high fees, there are the famous payment platforms like POLi and Osko supported by Swyftx. Most of these payments are instant, though sometimes banks slowdown the transfers so you’ll have to take a look before making a transfer with BPAY or PayID.

If you’re a big investor, Swyftx waives fees for anyone depositing over $100,000 which could save you thousands of dollars over the course of a few trading sessions, which is perfect for business and institutional investment.


Investors looking to inject hundreds of thousands of dollars into Ripple, it’s time to head to an OTC or Over the Counter investment desk.

Swyftx doesn’t currently offer this, however, platforms like Binance have these services, which we would highly suggest. These investment desks work to move forward with your investments in a way that won’t majorly disrupt the cost of a coin, and will also ensure good liquidity when it comes to these bigger investments.


A surprisingly unpopular means of investment, PayPal is not offered by many platforms, though if you want to use PayPal there are still a few ways to get around this.

The simplest way to use PayPal for XRP is to link your bank account that has a PayPal connection. This way when you invest through your bank, you’ll be withdrawing from PayPal to do so.

Invest and Store Your Ripple

How to Buy Ripple Australia

With all of the above said, it’s relatively easy to buy Ripple in Australia through Swyftx. The platform makes it easy for you to find XRP and trade it with your AUD.

We suggest using an offline wallet if you’re wanting to buy XRP and hold it for a long while, however, daily investors will be fine leaving their XRP in the digital wallet built into the Swyftx platform.


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