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Buying Ripple in Canada is now easier than ever with more trustworthy Canadian specific options, and more international exchanges offering options to Canadian residents.
In this article, we will detail how you can purchase Ripple (XRP) and other cryptocurrencies from any province in Canada.
Things to Consider Before Buying Ripple in Canada
Before getting started, there are a few things to consider when you plan on buying Ripple in Canada. These are important in helping you both choose the correct time, and the correct service to make your Ripple purchase.
Market Position: This is a huge factor of course when you invest in any asset. Perhaps, even more, the case when you are buying Ripple. It is subject to more pronounced price movements than investing in stocks for example. In that case, you want to be fully aware of the market price at the time you are buying.
Trading Fees or Limits: These can vary from extremely competitive to very high depending on the service you choose to buy your Ripple through. Always be sure to check for all fees and charges before making a purchase.
Service Reputation: While all of the services we have chosen are some of the most trustworthy around, you should be aware that not every Ripple sales platform is as reputable. You can reduce your risk by making sure you perform your own due diligence.
Top Places to Buy Ripple (XRP) & Crypto in Canada
Coinberry is making it easy to access Ripple in Canada with no fuss and buy or sell the asset quickly through the user-friendly platform. Coinberry has been around since 2017 and has a number of highly-trusted partnerships that set them up with a solid reputation for cryptocurrency. They are also registered with FINTRAC as a Money Services Business (Financial Transactions and Reports Analysis Centre of Canada) which is an extra layer of trust.
You can have your account open and KYC verified here in no time at all and Coinberry also ensures the best value environment possible for buying or trading your Ripple and the other supported assets. With no deposit or withdrawal fees, and a 0.5% trading fee, they come in as one of the cheapest services where you can buy Ripple in Canada using your debit, credit card, wire, or Interac transfer. You should note though that as a market maker, they will apply a spread to the asset.
Overall Coinberry provides a secure, super-convenient, and well-trusted service with competitively low costs.
Paybis operate a very well-trusted cryptocurrency purchase platform where you can buy Ripple and a range of other crypto using nothing more than your credit or debit card. They have been around since 2014 and have helped hundreds of thousands of people to make cryptocurrency purchases.
The service is extremely easy to use and takes only about 15 minutes to sign up for use the first time. This includes full KYC checks for your security and setting up a third-party wallet which is required since Paybis just facilitate the transaction.
You can quickly sign-up with Paybis and purchase Ripple from Canada and more than 100 other countries with fees that are competitive depending on the payment methods you use. They also provide an excellent support system and detailed step-by-step guides on how to complete your transactions. This convenience and level of trust have seen them become one of the top choices in Canada and around the world.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. They accept residents from all Canadian provinces excluding Ontario. As a Canadian trader, you can also use Binance to purchase Ripple. There are slight differences when it comes to using exchanges like Binance instead of purchasing your Ripple directly as you can through the other services mentioned.
The main key differences are that in purchasing from Binance you can also buy from other traders in the market through the exchange. This can mean great value for you in terms of price and costs. Binance charges between 1% and 3.5% for direct Ripple purchases using your credit, debit card, or bank transfer, though if you want to buy Ripple using another crypto the fee can be as low as 0.1% from other traders on the exchange.
The process of getting started is also just as convenient. All you need to do is register with Binance and complete the KYC checks they have in place. For direct Ripple purchases, they partner with Simplex as a payment provider that also ensures your transactions remain safe and secure. It should take no more than a few minutes to complete your Ripple purchase with Binance.
They also offer over 100 of the most popular cryptocurrencies, if you want to buy altcoins including Binance (BNB), this is a great option.
Ontario residents are prohibited.
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