While Bitcoin continues to dominate public conversation when it comes to cryptocurrency, its high price makes it an unattainable access for most beginning investors. Fortunately, Bitcoin is not the only cryptocurrency with a bright future. In fact, one of the chief assets predicted to have long-term success is also one of the least-expensive in the present crypto environment: Ripple (XRP)What Is XRP?
XRP is the name of both an actual cryptocurrency as well as the platform it operates on; a blockchain concept much like those used by Bitcoin and Ethereum. However, it’s transfer fees are far cheaper than those of bitcoin and its transfers are nearly instantaneous. This combination of speed with security has Ripple Labs, the parent company of it all, sitting in the catbird seat as it tries to leverage this technology. It’s already backed by big financial institutions including American Express and Westpac. It’s not decentralized, like Bitcoin, with Ripple Labs handling all of the transactions itself.How to buy Ripple (XRP) in Canada
While some crypto exchanges focus almost entirely on buying bitcoin, the larger platforms boast a healthy diversity of coins to purchase. One such is CoinField, which has perhaps the simplest, most secure means of purchasing Ripple, provided that you are a Canadian citizen with an email address, a bank account, and a password.
Once you’ve signed up with Coinfeld, you can use one of two methods to fund your online wallet for the purpose of purchasing XRP. The first is using a wire transfer from your bank; the second is to use an Interac e-Transfer, which can greatly speed up the process by which your online wallet is funded. If you are seeing XRP trend up or down and want to make a quick purchase, the Interac e-Transfer typically has the funds moved from your bank account to your online wallet within 1-24 hours on a business day, or within the first 1-8 hours of the next business day if you make the transfer on a weekend or holiday. A 2.5% fee is charged by CoinField for Interac e-Transfers. The fee is 1% for wire transfers, which typically take 24-48 hours to complete. Once your funds have been assigned to your online wallet, buying Ripple is as simple as tapping your mouse a few times. Coinfield’s dashboard has a buy/sell toggle that shows what cryptocurrencies you can purchase.
Simply click on the Ripple XRP icon and a drop-down will appear asking how much Ripple you want to buy as well as what the price of it is in Canadian dollars. A small fee is added per transaction, and assuming you have the funds in your account, simply click on the Buy button to complete the transaction.The moonGO Alternative
If you wish to buy Ripple in Canada but do not have a Canadian bank account to draw funds from, you can employ CoinField’s partner site moonGO. Now registering its first round of users, moonGO allows investors around the world, save for those in the US or US/UN sanctioned nations, to buy cryptocurrencies with no buy/sell commission fees using fiat currency or other accepted forms of payment.
buy XRP in Canada from Coinfield today.