XRP (Ripple) Price CAD
Anyone who has sent a wire transfer internationally through their bank knows that the current system of settling different currencies is slow and tedious. XRP, a digital currency created by Ripple Labs, aims to be a solution this and other current cross-border banking issues.
XRP runs on technology called the interledger protocol which uses digital currency to settle accounts across two banks differing ledgers. This allows for a much smoother experience, and a faster settlement time. Banks such as Santander, Reisebank out of Germany, and ATB Financial right here in Canada have experimented using XRP to settle transactions.
Recently XRP briefly became the second largest digital currency by market cap, overtaking Ethereum. There is no doubt XRP is an exciting and rapidly growing cryptocurrency.
Similar to Bitcoin, there is a finite amount of XRP that is available, 100 Billion units. XRP can only be divisible by 6 decimal places, meaning that the smallest unit (one drop) is 1 millionth of 1 XRP.
How To Buy XRP (Ripple) In Canada
If you want to buy XRP in Canada, it’s easy. Sign up to Bitbuy in order to create an account. Once you’ve confirmed your identity, email, and phone number, you can add funds directly from your bank account that you can use to Bitcoin, Ethereum, Bitcoin Cash, and Litecoin or XRP.
A Secure Way to Buy XRP in Canada
Looking for a secure way to buy XRP? Sign up and create an account on Bitbuy today. Take advantage of one of the best cryptocurrency trading platforms in Canada when it comes to security. Every transaction you make on Bitbuy is encrypted using Secure Socket Layer technology with two-factor authentication solutions implemented on the entire site SSL is a standard encryption security feature
Bitbuy also operates with a 95% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Cold storage is best practice for cryptocurrency exchanges. The best place to buy XRP is a secure cryptocurrency exchange.
Famous moments in XRP History
In May 2018, Hollywood Actor Ashton Kutcher appeared on The Ellen Show and made a donation to Ellen’s international charity based in Africa using XRP. The donation was sizeable, $4 Million USD, and showed a real world example of how XRP could be used to settle international payments.