What is Ripple? The Beginner’s Guide To Buy XRP In Canada

Launched in 2013, XRP aims to complement traditional payments, migrating transactions that occur today between databases controlled by financial institutions to a more open infrastructure. Here's a beginner's guide to buy XRP in Canada.


One of the more ambitious cryptocurrencies to go live in the wake of Bitcoin, XRP is notable for a design that sparked continuing discussion about how blockchains can be architected and the use cases they should attempt to address. That’s because the XRP Ledger introduced a new way of operating a blockchain’s transaction and records system, one proponent argues makes it more suitable for regulated entities that must follow strict laws on money transmission.

Unlike others the best way to buy Bitcoin in Canada, which allows anyone to contribute computing power to validate transactions and secure the software, the XRP Ledger grants this power only to approved participants.

Because nodes do not earn XRP for maintaining a correct version of the ledger’s history, all 100 billion XRP in existence were created and distributed to individuals and companies at launch through gifts and online giveaways. If these design decisions continue to cause debate, so too do parts of the project’s go-to-market strategy, which relied on the creation of a for-profit company, as opposed to a non-profit.

The company, called Ripple, now acts as principal steward in the funding and development of the XRP Ledger and plays an outsized role in its development and digital economy.

The steps below outline how to buy XRP in Canada.

1. Verify your account

You can buy XRP with other cryptocurrencies like bitcoin or ether, simply by providing your name, date of birth, country and phone number. If you’d like to use cash, like USD or EUR, you’ll need additional support documents verifying your identity. For more information, see our verification levels documentation.

2. Deposit cash or cryptocurrency

Depositing crypto to Netcoins is as simple as sending it to a friend. Just generate a new deposit address in your Kraken account to receive funds from your crypto wallet. Adding cash to your account for trading can be done in a number of ways like domestic wire transfers. The option you select will be based on your location and preference.

Buy XRP with Netcoins!

Once your cash hits your account, you’re ready to start buying XRP.
24X7X365 Customer Support

Trading is really pretty simple! If you have any questions about buying XRP, let us know. Our support staff is online all day, every day, ready to help.

Where to keep your XRP?

Once you’re done buying XRP, you should look for a way to secure it. The best way to do this is with a wallet that supports XRP. A wallet is anything that allows you to send, receive and store a cryptocurrency. There are many types of wallets you can use to keep your digital assets safe, including hardware, software and cloud ones. The option you choose will depend on your individual needs and preferences.

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