XRP is the native cryptocurrency of the XRP Ledger, an open-source blockchain platform designed and developed by Ripple Labs. The primary mission of XRP is to enable faster, more efficient cross-border transactions compared to traditional payment systems.
Unlike many cryptocurrencies that serve primarily as a digital asset for investment, XRP is intended to provide liquidity for banks and payment providers, facilitating real-time global payments. Transactions using XRP can be completed in 3-5 seconds, significantly faster than most other cryptocurrencies or traditional banking methods.
One unique feature of XRP is its scalability. It's capable of handling 1,500 transactions per second, making it one of the most scalable cryptocurrencies in the market. Moreover, transaction costs are extremely low, which adds to its appeal for frequent, high-volume transactions.
However, it's important to note that while XRP is used in several of Ripple's payment systems, owning XRP doesn't equate to owning shares in Ripple Labs. The company and the cryptocurrency operate independently, although Ripple Labs holds a significant amount of XRP.
In recent news, a federal court ruled that XRP itself is not a security, which has been a long-standing debate in the crypto community. This ruling has provided some clarity on its legal standing, though the specifics can vary based on the context of its sale and use.
Investors can easily invest in XRP by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire and buying the XRP coin directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is always here. Our customer success will ensure your investment journey is smooth throughout.
Investors can easily invest in XRP by creating an account with Bitbuy, adding fund to their account directly through e-Transfer or bank wire and buying XRP directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is always here. Our customer support team will ensure your investment journey is smooth sailing throughout.
Buying XRP in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:
If at any point you need help signing up, verifying your account, adding funds, or buying and selling XRP, just contact customer support for same-day assistance.
Bitbuy is one of the best and most secure places to buy XRP in Canada. Here is why:
Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy, it is crucial users know that their digital assets are is safe with us.
Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy XRP.
Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient.
We pride ourselves in our exceptional customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.
Interac e-Transfer is the most popular way to pay online in Canada. Canadians want to buy XRP with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy XRP in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.
Looking for a place to store your XRP? Bitbuy is the perfect place to start. Bitbuy has a built-in wallet for each user that you can use to store your XRP safe and securely.
Website (instructions for the mobile app below)
When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To facilitate the trade, click the 'Sell' button which will appear in red.
Click the drop-down and search XRP to begin the sale.
Enter the amount of XRP that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.
Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.
Locate XRP and click on the 'Sell' button.
Enter the amount of XRP you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!
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Quickly find the answers you need in our support centre, or contact a member of our team 24/7/365, and we'll be happy to assist you.
Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.