♣️ How to Sell Ripple (XRP) for GBP in the UK

XRP

Many investors are searching for how to sell ripple for GBP in the UK. If you’re one of such, then you’re in the right place and will find the answers you’re looking for in this well-researched guide.

Meanwhile, others also just want to know where they can cash out ripple if the price eventually skyrockets. Let’s dive right in!

A quick guide on selling XRP for GBP on Binance

  • Sign up for a Binance account and complete the KYC process.
  • Login to your account and obtain your XRP deposit address.
  • Transfer XRP from an external wallet to the Binance XRP address.
  • Go to the Binance Buy/Sell tab and switch the tab option to “Sell.”
  • Enter the amount of XRP to sell for GBP (50 GBP minimum)
  • Click “Next” and confirm order details.
  • Select “Sell” to complete the transaction.
  • Withdraw GBP to your UK bank account.

Next, we go over a list of some exchanges where you can sell XRP for GBP and show you exactly how to do it.

How to sell Ripple in the UK for GBP

Binance

Sell XRP on Binance

Binance is one of the world’s largest cryptocurrency exchange by trading volume. The platform unsurprisingly supports a variety of options to sell ripple into GBP. Aside from the earlier step, here’s another way to do it on Binance.

How to do it:

  • Register on Binance and complete KYC verification.
  • Deposit the XRP you want to sell to your XRP address on Binance.
  • Go to Markets, and select XRP/GBP.
  • Change Order Type to “Market.”
  • Fill in the amount to sell and click “Sell.”
  • Withdraw GBP to your UK bank account.

Fiat Withdrawal Options: SEPA and Faster Payments.

CEX.io

Sell XRP on CEX.IO

CEX.io is a UK-based crypto exchange and rightly supports the buy and selling of Ripple for GBP, alongside other cryptocurrencies. The exchange is one of the oldest in the industry and very reputable.

How to do it:

  • Sign up for a CEX.io account and complete user verification.
  • Go to Deposit and Select XRP as the asset currency to deposit.
  • Copy your address and transfer funds from an external wallet.
  • Go to Trade and select the XRP/GBP pair.
  • Switch Order type to Market.
  • Enter the amount of XRP to sell and click “Place Order.”
  • Withdraw the GBP to your UK bank account using the provided methods.

Fiat Withdrawal Options: Bank Cards (Visa, Mastercard), Skrill, SWIFT, and ACH Transfers.

Sell XRP on Coinbase

Sell XRP on Coinbase

Coinbase is a US-based exchange and one of the largest in the industry in terms of trading volume. Coinbase offers its services to UK customers and is an excellent option if you’re looking to sell some Ripple coins.

How to do it:

  • Create a Coinbase Account and complete the KYC process.
  • Go to Assets, and select XRP to find your deposit address.
  • Copy the address and transfer funds from an external wallet.
  • Select the Trade Button and click Sell.
  • Choose XRP as the crypto to sell and GBP as the currency to receive
  • Confirm the transaction and initiate the withdrawal of GBP through your preferred method.

Fiat Withdrawal Options: Faster Payments, SEPA, PayPal, Bank Cards.

EXMO

Sell XRP on EXMO

Exmo is another United Kingdom-based cryptocurrency exchange that you can use to buy and sell Ripple for GBP. The interface is user-friendly, and there are two options for selling crypto: Trade and Quick Exchange.

How to do it:

  • Sign up on Exmo.com and complete the KYC verification process.
  • Go to “Funding” and select XRP as the crypto to deposit.
  • Transfer XRP from an external wallet address.
  • Go to EXMO’s exchange page.
  • Select XRP as the asset to give and GBP as the asset to receive.
  • Fill in the Order details and confirm.
  • Alternatively, go to Trade from your dashboard and select the XRP/GBP pair.
  • Switch the Order type to Market and enter the order details.
  • Click “Sell” and confirm the order execution.
  • Withdraw GBP to your UK Bank account.

Fiat Withdrawal Options: CHAPS and Faster Payments.

BC Bitcoin

Yet another UK-based crypto exchange, BC Bitcoin offers a straightforward channel for users to sell cryptocurrency without going through the typical order book method. You get an address to send your funds to, while the company makes payment directly to your UK bank account.

How to do it:

  • Sign up on BCBitcoin.com and complete the KYC verification.
  • Go to Sell Coins
  • Input the amount of coins to sell and select XRP as the coin.
  • Choose your preferred currency (GBP or EUR) and proceed.
  • Review order price and if you’re satisfied, enter your bank details.
  • Send the XRP to the address designated by BC Bitcoin.
  • Receive payment in your bank account within 30 minutes after transaction confirmation.

Fiat Withdrawal Options: Bank Transfer.

Kraken

Sell XRP on Kraken

Kraken is another top-tier cryptocurrency exchange where you can sell your XRP for GBP. Initially, the platform supported only USD and EUR crypto-fiat transactions. However, the inclusion of GBP on Kraken now makes it a viable option for UK users.

How to do it:

  • Create a Kraken account and complete the KYC process.
  • Go to Funding and click Deposit on XRP.
  • Generate a new Address and copy it alongside the memo.
  • Transfer the funds to Kraken from an external address.
  • Go to Markets and select the XRP/GBP pair.
  • Fill in the amount to sell and complete the order.
  • Withdraw GBP from Kraken to your bank account.

Fiat Withdrawal Options: Faster Payments, CHAPS, SWIFT.

Selling XRP for cryptocurrency short step-by-step guide.

If you’re not interested in selling your coins for GBP and instead want to sell it for Bitcoin or any other cryptocurrency, you can follow the steps below:

  • Create an account on your preferred exchange (we’ll use Binance for this example).
  • Go to deposit and transfer Ripple coins from an external address to your Binance account.
  • Go to markets and choose the XRP/BTC pair.
  • You can also choose any other XRP pair that matches with the coin you want to buy with XRP.
  • Change the Order type to Market and fill in the amount to sell.
  • Complete the order and received the newly purchased coins on your Binance address.

Note: While the features may differ from one crypto exchange to the other, the functions are primarily the same. To sell XRP for other cryptocurrencies, you have to go through the order book pair.

If you can’t find one that directly pairs XRP with the coin you want to buy, then you can first sell XRP for USDT or BTC, and then choose a pair that merges any of them with your desired coin, e.g. BNB/USDT or BTC/XLM.

Things to consider before selling XRP

Before you sell XRP for GBP or other cryptocurrencies, there are some factors that you need to consider:

  • Market Action: Before you sell your XRP holdings, it is helpful to consider the asset’s price action to determine whether or not you could realise more profit or loss by simply holding on for a little longer.

    You may also need to evaluate your entry point to see whether you’ll make a gain or loss by selling your assets.

  • Trading Fees: It is vital to consider the trading fees associated with the transaction you want to execute. While XRP transfers cost almost nothing, exchange charge a fee for each trade, and even more for fiat withdrawals.

    The exchanges covered in this guide are reliable and charge reasonable fees.

  • Transaction Size: If you’re planning to sell a large quantity (up to £1,000,000), then you may want to use an over-the-counter (OTC) trading desk instead of an exchange’s order book. An OTC desk allows you to sell or buy assets at a discount since the amount is substantial.

    BC Bitcoin, Coinbase, Kraken, and CEX.io offer an OTC-service for such large trades.

  • Transaction Limits: Sequel to transaction size, some exchanges place a limit on the amount that you can trade as a new user. There are also restrictions such as the minimum amount you can sell or withdraw for a given period. Take care to review these restrictions before initiating a transaction.

Privacy and security tips

We recommend the following measures to avoid losing your assets in the process of selling it.

  • Always remember to include the XRP address and the memo ID before hitting the send button.
  • Double-check addresses after pasting as a way to guard against clipboard malware.
  • Enable two-factor authentication (2FA) and other security features provided by the exchange you choose to use.
  • Always send a test transaction if you’re looking to make a large trade. You can follow-up with the subsequent trades after successful confirmation.
  • If you hold large amounts of crypto, invest in a hardware wallet as this offers the best security for your wealth. (see our list of best XRP wallets for UK users).

Conclusion

Whether you’re selling XRP to cash out a profit, minimize losses, or break-even on your investment, you need to use the right platform. In this article, we explained how UK users could sell XRP for GBP and other cryptocurrencies using reliable and fee-friendly exchanges.

We’ll then leave it to time to reveal whether or not XRP will eventually live up to the hype and become one of the most widely adopted cryptocurrencies for financial institutions.