HOW TO BUY XRP IN CANADA AND STORE CRYPTOCURRENCY!
XRP was one of the easiest cryptocurrencies to buy in Canada until its recent legal troubles. Unlike some digital assets that have no real-life use cases, XRP and the Ripple platform have been positively welcomed as an innovative way to achieve instant global financial transactions. In this article, I cover how and where to buy XRP in Canada.
There are more than 300 financial institutions using RippleNet including the Bank of America, Santander, MoneyGram, and American Express. XRP is the native currency on the XRP Ledger which is an open-source blockchain technology that settles transactions in record time without the help of intermediaries.
Compared to Ethereum which takes about 2 minutes, transactions on XRP can be settled within 5 seconds. When compared to Bitcoin, the variance is even greater as transactions take up to 1 hour to complete given its proof-of-work validation system. XRP can also process up to 1,500 transactions per second as opposed to Ethereum with 15 and Bitcoin with 3–6 transactions per second. Ripple Labs is involved in the development of other blockchain infrastructure including RippleX.
How And Where To Buy XRP In Canada? You can buy XRP in Canada using a cryptocurrency exchange and pay for your purchase with fiat or another cryptocurrency. There are several crypto platforms offering XRP. After signing up and validating your account, you can fund it with CAD or USD to buy XRP directly. Alternatively, you could also buy an XRP-crypto pair on a platform like Netcoins if you already own the paired token.
How To Store XRP? You can hold XRP using various types of wallets including: 1. Hardware wallets that take your digital currencies off the internet are one of the best ways to secure cryptocurrency. Hardware wallets are also known as cold wallets. Desktop and mobile wallets like the Atomic wallet and Ledger Live. 2. Software wallets such as such as the ones provided by Netcoins.
Is XRP Ripple Safe? All cryptocurrencies fall into the “speculative” investment category. You should only invest using the funds you can afford to lose. Also, hackers have made it a lucrative business to steal crypto wherever/whenever they can. One way to safeguard your XRP coins is by using a cold wallet and taking extra precautions to protect your private keys.
XRP has been around since 2012 and has weathered various storms since its inception. With regards to the way it works, independent and decentralized validators validate transactions and the XRP Ledger is opensource.
Is XRP A Good Investment? XRP has real use cases that have already been deployed in the financial sector. It is a viable competitor to the SWIFT payment processing system with transactions being completed in as little as 3 seconds and costing almost nothing.
If you still think you want to invest in cryptocurrency, Netcoins is one of the best way to buy bitcoin in Canada. Sign up with Netcoins and get your account verified now! SOURCE CREDIT: https://medium.com/@bitcoinwalletcanada/how-to-buy-xrp-incanada-and-store-cryptocurrency-2365ac21e82c
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