Buy XRP in Australia – A how to guide


If you are looking to buy XRP in Australia, let us guide you through how easy it is, and what to look out for when buying.

Our article will cover the following for you:

1. How to buy XRP in Australia with Easy Crypto

2. What is XRP?

3. Which wallets are most suitable for XRP?

4. What else should I consider when buying XRP in Australia

5. Rapid FAQ’s

1. How to buy XRP in Australia with Easy Crypto

Follow these animated steps to see how easy it is to buy XRP in Australia with Easy Crypto.

Step 1

Step 2

Buy XRP Australia step 2

Once you have completed this you log in to your bank via POLiPay (or alternatively use a normal bank transfer) follow the prompts and you should have your XRP in minutes!

Step 3

Buy XRP Australia step 3

2. What is XRP?

xpr logo
Buy XRP in Australia

When discussing how to buy XRP in Australia it is important to make a distinction from the start.  XRP is sometimes interchangeably known as ‘Ripple’.  Ripple is a separate company to the XRP token.  Ripple is a real-time gross settlement ecosystem that also promotes XRP. So, when you buy XRP in Australia you are buying the XRP token, not Ripple. 

With that out of the way lets take a look at what XRP is all about.  XRP was created in 2012 by cryptocurrency veteran Jed McCaleb.  McCaleb was the owner of the first ever large-scale Bitcoin exchange Mt.Gox, and the current head of Stellar.   

XRP was built strategically to work with existing Banks and payment networks as a cryptocurrency payment settlement system.  XRP has largely fulfilled its goal of being the most successful cryptocurrency to partner with existing financial institutions.  It’s popularity and potential have driven XRP to become the third largest crypto in the world by market cap. 

There is some healthy scepticism around the XRP project, mainly fuelled by Ripple Labs.  Ripple hold a large amount of XRP in escrow, that is to be released periodically to create liquidity.  This has caused concern in the community about the dilution of the supply and value of the digital currency on the open market.  This fact has not slowed adoption, however, and has driven XRP to be the third largest cryptocurrency in Australia. 

Some of its features include: 

  • XRP is built specifically to integrate with payment providers 
  • It has extremely low transaction fees 
  • Transaction speeds are lightning fast 
  • XRP uses blockchain technology for security and transparency 
  • It is highly liquid with a total supply of 100 billion tokens (~50% held by Ripple) 

3. Which digital wallet should I use to store my XRP? 

Due to the popularity of XRP in Australia and across the world, you have plenty of options to store your XRP, online and offline.

See also: Our definitive guide on Crypto Wallets in Australia

The wallets can be broken up into 3 main categories: Desktop, Mobile and Hardware.

Desktop Wallets 

Toast Wallet
toast wallet australia

The toast wallet is a great wallet to start with when you buy XRP in Australia. It has a good reputation, a clean user interface and is available on Windows, Mac, Chrome and Linux. In addition it is also available with your mobile on either iOS or Android.

When looking at an XRP wallet, we must prioritise security and safety. The toast wallet allows the use of both a Passphrase and a PIN number; giving you peace of mind when storing XRP. You can also backup your wallet. Make sure you back it up somewhere off site if possible, as Australia is known for its extreme weather, which can wipe out everything you own in the case of fire or flood.

Toast allows you to create a wallet address or use an existing XRP address. Please note: to use your Toast wallet you must have a minimum of 20 XRP in it at all times. This is a security feature to weed out spam wallets.

exodus wallet logo

Exodus is one of the most popular wallets in Australia and across the world. It arguably has the nicest user interface of all wallets for any cryptocurrency. It is a great option, along with Toast, as a starter wallet when you buy XRP in Australia.

Again however, you must have a minimum of 20 XRP for use.

Through the Exodus interface you can send, receive and generate new addresses for XRP. Furthermore, you can also store, send and receive many other popular cryptocurrencies within the same wallet including Bitcoin and Ethereum. If versatility is your thing, Exodus will suit you to the core.

Exodus is available on PCMacAndroid and iOS.

Mobile Wallets 

Edge Wallet
edge wallet logo
edge buy xrp australia

The edge wallet is a popular mobile wallet available on both Android and iOS. When you buy XRP in Australia, you can send directly to this mobile wallet to have access to your XRP on the go. It is user friendly for beginners by making the sign up process a familiar user name and password. For more advanced users you can also access a copy of your private key seed phrase.

It is recommended to enable 2fa (two-factor authentication) if you are going to use Edge to maximize safety of your XRP. Edge also accepts a handful of other popular cryptocurrencies. Another cool feature of Edge is the ability to place spending limits, with further verification.
Privacy wise, all user information is stored locally, with no personal information stored on the companies servers. Edge is also open source (meaning anyone can inspect its code to ensure there is no fraud or malice intended).

Important: When sending XRP you will be asked to use a ‘Destination Tag’.  The destination tag is like a reference in a normal bank transfer.  Ensure you use the correct destination tag in order for your XRP to be sent correctly.

Hardware Wallet

trezor model T

When you buy XRP in Australia, the safest way to store it is through a hardware wallet.  Taking responsibility of your digital assets offline is the best way to have peace of mind longer term.  When considering hardware wallets there are two that are usually recommended off the bat.  One is the Ledger Nano S (or X) and the other the Trezor.  We like to lean towards the Trezor Model T as it supports a greater amount of applications, is easier to use and looks great. 

It is a bit more expensive than the Ledger Nano X but if you are after a quality crypto wallet you can use long term, it’s worth the extra $40 AUD or so.  XRP is compatible with the Trezor Model T and Australian’s have a long history of using the original Trezor as well as the latest model. 

The Trezor Model T is the latest version supporting thousands of different cryptocurrencies.  The support is good and you can sync it with software wallets such as Exodus; which gets a tick in our book.  If you are interested in buying, we have a store where you can browse all the available hardware wallets here.

4. Other considerations when you buy XRP in Australia 


ato crypto

When you buy XRP in Australia it is best to consult a crypto-friendly tax agent such as Darcy Financial.  In addition to this, stay abreast of all the official ATO rulings and interpretations (official Australian Tax Office page here). 

Generally, if you hold crypto such as XRP you must pay capital gains tax (CGT).  There are rules and a discount depending on how long you hold your XRP for.  Again, do your research so you understand your investment in full, prior to planning to purchase or sell.


In as many articles as possible I like to emphasize the importance of cryptocurrency security.  As soon as you receive your XRP it is completely in your custody.  If you don’t protect it like you would cash, you have no central authority to assist you in getting it back. 

If you have no previous experience purchasing XRP in Australia, read our guides and don’t be afraid to ask for advice or help.  I recommend starting with a very small amount to get used to wallets and transfers of XRP.  Once you feel competent and secure, then invest larger amounts as needed.

Further reading: Password Security

Ripple Escrow

As an investor it is important to know about Ripple’s escrow system. Ripple, although separate from XRP the token, has approximately 55 billion XRP (over 50% of supply at time of writing) in escrow.

This has been put in place by Ripple to control the predictability for the supply of XRP. Due to the XRP token being used as a utility token for international transactions, Ripple believe that the escrow will help control liquidity.

The escrow is being released over 4.5 years monthly. Each escrow release is for a total of 1 Billion XRP as an upper limit.

5. Rapid FAQ’s

Q. What date was XRP created?

A. XRP was created in 2012.  Ripple as a company (pre-xrp) was founded in 2005.

Q. Did XRP have an ICO (Initial Coin Offering)?

A. XRP pre-mined 100 billion tokens.  XRP did not have an ICO.  All funding came from traditional angel and startup investors.

Q. What is the difference between XRP and Bitcoin (BTC)?

A. XRP was pre-mined for the sole purpose of creating liquidity.  This enabled Ripple and in turn XRP to achieve its goal of being a payment protocol.  Bitcoin is mined by users who create new Bitcoin and in turn are paid a small fee of Bitcoin for their efforts.  

Q. Is Stellar (XLM) related to XRP?

A. Yes, Stellar started as a fork of XRP.  Stellar’s unique proposition was to have a more philanthropic mission with their native lumens.

Q. Which financial institutions have adopted XRP?

A. XRP has been adopted or experimented with by Western Union, Cambridge Global Payments, Viamericas, MoneyGram, MercuryFX plus many more.

Interested in buying Ethereum?  Check out our Ethereum guide here.

Looking for something?

Search here