How to Buy XRP in Canada

A guide on how to buy XRP (Ripple) in Canada with Netcoins

BUY PRICE1 XRP = CAD $0.00

0.00

SELL PRICE1 XRP = CAD $0.00

0.00

SUMMARY1. Brief Intro2. Price3. How to Buy4. Why Netcoins?5. About XRP

Brief Intro

Often times people use the words Ripple and XRP interchangeably. However, Ripple is the company behind the cryptocurrency, XRP. The company wants to help banks (and other financial institutions) move money faster, easily, and with less fees instead of focusing on helping people buy goods and services with XRP. In other words, you can think of them as trying to bridge traditional banking with cryptocurrencies. Unlike bitcoin, XRP are not mined. Instead they are held by Ripple. The company created 100 billion XRP at the beginning of its inception, eventually selling them every month to raise funds. The smallest unit of XRP is called a ‘drop’ with 1 XRP equalling 1 million drops. Looking to buy and sell XRP? Netcoins is Canada’s first publicly owned crypto trading platform to be fully regulated. Simply create an account with Netcoins, fund it with an e-Transfer (more funding options available) and head to the trade page to buy XRP.

XRP Price

Buy XRP

XRP / CAD

CAD $ -

1H24H7D

Buy Price$0.00

Sell Price$0.00

24h High$0.00

24h Low$0.00

How to buy XRP

Create an Account

Provide some personal details and get verified in minutes through our automated KYC process.

Fund it

Fund your account with a XRP deposit, Interac e-Transfer, or bank wire transfer.

Start Trading

Buy and sell as much XRP as you want with no slippage due to our deep liquidity.

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More about XRP

Why Buy XRP?

XPR is unique from other major cryptocurrencies, like bitcoin or ethereum. Rather than being a decentralized cryptocurrency for the people (like bitcoin), XRP is a centralized cryptocurrency focused on helping banks and other financial institutions move money quickly around the world at a fraction of the cost. With that said, XRP isn’t trying to be a currency people can use to buy and sell goods as much as it’s a currency in service to banks. Thanks to the technology invented by Ripple, the XRP blockchain can process around 1,500 transactions per second. In comparison, the Bitcoin blockchain can process only a handful of transactions per second. Plus, XRP transactions can be confirmed in three to five seconds, whereas Bitcoin transactions are confirmed in ten minutes. Faster processing times can help the currency scale faster and gain wider adoption.

How Much XRP Can I Buy?

You don’t need to buy a lot of XRP to get started! You can buy fractions of an XRP. In fact, the smallest possible unit of XRP is called a drop and is equivalent to 0.000001 XRP (6 decimal places). Put another way, 1 XRP = 1 million drops. Many beginners start their XRP journey by accumulating small amounts of XRP. You can start as small as $10, or invest up to $10 million with Netcoins.

Things to Consider Before Investing in XRP

Like bitcoin and other cryptocurrencies, XRP has created millionaires overnight but it has also made people lose their wealth. Buying XRP is still considered a risky investment given its volatility. But high volatility can work in both directions. It can work in your favour and yield great potential for return. And it can work against you by causing you to take on big losses. That is why it’s important to never invest more than you’re ready or willing to lose. For many investors though, buying XRP is seen as a great opportunity to invest in the future of banking – an industry long-plagued by outdated technologies and ineffective processes. However, keep in mind that XRP is a centralized cryptocurrency, meaning it puts all the power on a centralized entity like Ripple. At any moment, Ripple could change the rules of the game, the code that runs the XRP network, and ultimately the supply of XRP, violating the trust of the network.

FAQs

WHY IS KYC (VERIFICATION) REQUIRED?

Netcoins USA is a licensed money service business under FinCEN, we adhere to the strict guidelines set by them for Money Transmitter Businesses. We are required to have a Know-Your-Customer (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers, as per American regulations.

WHAT DO I NEED TO PROVIDE FOR YOUR VERIFICATION PROCESS?

You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process. If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business in the US.

HOW CAN I FUND MY ACCOUNT?

Your Netcoins account can be funded with a bitcoin deposit, Interac e-Transfer, or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy XRP in Canada.

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