This step-by-step tutorial explains how to purchase XRP on Binance and securely transfer it to your cold wallet—covering everything from account setup to withdrawal.
Step 1: Register and Verify Your Binance Account
Visit Binance’s official website:
- Access https://www.binance.com (bookmark it to avoid phishing scams).
- Never click suspicious links; double-check the URL before logging in.
Create your account:
- Use a strong password (mix of letters, numbers, and symbols) and a secure email.
- Enable two-factor authentication (2FA) via Google Authenticator for added security.
Complete KYC verification:
- Submit ID (passport, driver’s license) and proof of address (utility bill, bank statement).
- Higher verification levels unlock greater withdrawal limits.
Step 2: Fund Your Binance Account
Navigate to “Deposit”:
- Go to Wallet > Fiat and Spot and select your currency (e.g., USD, EUR, USDT).
Choose a deposit method:
- Bank transfer (low fees, slow processing) or credit/debit card (fast but higher fees).
- For crypto deposits, copy Binance’s wallet address exactly and confirm the network (e.g., ERC-20 for USDT).
Confirm the transaction:
- Small test deposits are recommended before large transfers.
Step 3: Buy XRP on Binance
Go to the trading platform:
- Select Classic (beginner) or Advanced (charts, order books) view.
Choose an XRP trading pair:
- Common pairs: XRP/USDT, XRP/BTC, or XRP/EUR.
Place your order:
- Market order: Instant purchase at current price.
- Limit order: Set your desired price (e.g., buy XRP at $0.50).
- Enter the amount and confirm.
Step 4: Withdraw XRP to Your Cold Wallet
Navigate to “Withdraw”:
- Select XRP and enter your cold wallet address.
Critical details:
- Tag/Memo: Required for XRP cold wallets (check with your wallet provider).
- Triple-check the address and tag—errors can lead to permanent loss.
Test withdrawal:
- Send a small amount first to confirm the setup.
Security steps:
- Complete email/SMS/2FA verification.
- Track the transaction via Binance’s withdrawal history or a blockchain explorer like Bithomp.
🔒 Security Tips
- Cold wallet storage: Never share your private key or recovery phrase. Store it offline (e.g., engraved metal sheet).
- Phishing alerts: Binance will never ask for your password or 2FA code via email/SMS.
- Regulations: Research local crypto tax laws and reporting requirements.
💡 FAQs
Q: How long does XRP withdrawal take?
A: Usually 1–5 minutes, depending on network congestion.
Q: Can I recover XRP sent without a Tag/Memo?
A: No—always verify the Tag/Memo with your wallet provider.
Q: What’s Binance’s XRP withdrawal fee?
A: Currently 0.25 XRP (check Binance Fees for updates).
Q: Is a cold wallet necessary?
A: Yes! It’s the safest way to hold XRP long-term. 👉 Best cold wallets include Ledger and Trezor.
📌 Key Takeaways
- Use Binance’s limit orders to buy XRP at target prices.
- Cold wallets require Tags/Memos—missing this causes lost funds.
- Always test small withdrawals first.
For secure trading, explore Binance’s advanced tools.