Buy Ripple (XRP) in Canada at Lowest Price
As one of the world’s largest cryptocurrencies by market cap and trade volume, Ripple is very frequent to be in an exchange pair in Canada. If you are searching for the best exchange to purchase Ripple and other cryptocurrencies, Changelly is glad to provide you with such a service. We work in every Canadian province so that you can purchase XRP with various payment methods and fiat currencies, including Canadian dollars (CAD) and US dollars (USD).
Changelly: best place to buy XRP
Pick a suitable payment method and trade CAD for XRP on one of the best exchanges out there - Changelly.
Bank Card
Get Ripple directly with a debit card or a credit, virtual, or prepaid card. Your purchase will be quick, secure, and easy.
Apple Pay
Buy cryptocurrency on the go. If you’re using an iPhone, you will be able to make secure transactions with Apple Pay.
Bank Transfer
Use your account to make a bank wire and buy XRP. Enjoy high limits and low trading fees.
How to buy XRP
The best way to get Ripple is via instant cryptocurrency exchange since it is suitable for both novices and professionals.
To buy XRP with CAD, you should log in to your account, click the ‘Buy’ button, and select one of our fiat partner’s rate offers.
After that, you need to fill in the XRP wallet address. Please, pay attention to the XRP destination tag provided by your wallet. Please, pay attention to the XRP destination tag provided by your wallet.
Then, you will be redirected to the provider’s page, where you can get instantly verified and pass the KYC option.
After the validation is completed, deposit the funds from your bank card (Visa/Mastercard), wire transfer or Apple Pay.
Your coins will appear in the wallet over time. If there are any troubles, please contact our customer support.
What Is Ripple?
XRP is the native currency on the Ripple network and one of the largest digital currencies by market capitalization (#7 on CoinMarketCap). The idea behind Ripple is based on a trusted agent between two parties in a transaction and the global network that can confirm that the exchange went through properly.
Like with all crypto projects, the XRP ledger is decentralized. This means transaction oversight is distributed across all network participants and delegated away from a central, authoritative location.
FAQ
Is Ripple Legal?
Canadian regulators allow the use of cryptocurrencies, but they are not legal tender in the country. It means that digital assets are commodities and can be used as payment instruments for goods and services. However, the payers should make tax deductions. All the operations concerning cryptocurrencies – mining, trading, holding, buying, and selling – are not prohibited.
Can Foreigners Get XRP in Canada?
Yes, Ripple is available to institutional and retail investors regardless of their residency status. If you already have an account with Changelly, you will get instant verification and enjoy the same low network fees.
If you purchase XRP, you can then transfer it to any software wallet or even cold wallet. Both have no restrictions in Canada.
How Is the Price of Ripple Determined?
The market price of Ripple is determined by three main factors:
Demand and supply: If more financial institutions adopt XRP, there will be higher demand.
Competition: If there are more projects similar to Ripple, it will be harder to find wonder recognition.
Regulation: Laws can have both positive and negative impacts on cryptocurrency prices.
Can I Buy Less Than 1 Ripple?
1 XRP equals 0.000020 BTC, which is around 1.5 CAD. So, it’s unlikely that exchanges will support transactions lower than that. However, no reason to worry - since the low price makes XRP so accessible, anyone will be able to afford more than one XRP coin as well as associated trading fees.
What Are the Taxes for Buying Ripple?
Canadian taxpayers are subject to pay capital gains or business income tax if they hold XRP for a profit. Overall, any activities and transactions associated with making profits off of crypto, including mining, must be declared and taxed. If you plan to sell cryptocurrency at a higher price than you bought it for, that is something to pay attention to.
Where Can I Store Ripple?
For most people, it comes down to software wallets vs. hardware wallets. The first option is by far the most popular way to keep your bitcoins. All top-rated services are accessible, intuitive, and affordable, some of which are featured on our partner’s list.
But if you want to equip your private wallet with maximum security, you need to disconnect it from the Internet.
Which Ripple Wallet Can I Use?
A few software wallet options that we can recommend are Coin Space, Ginco, Abra, ELLIPAL, Enjin Wallet, and Ontology. Of course, we work with other services as well, so feel free to check the full list.
Investors who would rather keep their private keys and coins offline can use BC Vault, Trezor, or Ledger.
Which Canadian Stores Accept XRP?
There aren’t many companies that facilitate transactions in Ripple, so the day when XRP payments are as easy as a writing bank draft is in the distant future. That said, there are several companies that are at the forefront of XRP adoption: American Express, Banco Santander, MoneyGram International, Deloitte, and SBI Holdings.
How to Cash Out XRP?
If you want to move your digital coins to the real world, you need to trade crypto for fiat first. After you sell XRP, you will receive the converted funds in your bank account. You have probably taken out cash through an ATM before, so you already know what to do next.
XRP ATMs are also a thing right now. The downside is that they aren’t as reliable as online exchanges and cover a very limited number of locations.