What is XRP (XRP)?
XRP is the token of Ripple, a technology that acts as both a cryptocurrency and a payment network. XRP offers financial institutions the fastest, most reliable option forsourcing liquidity on demand. Another important use case of XRP is that it can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently. You can buy and sell XRP for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade XRP for BTC the same way you trade CAD for USD. You can also trade XRP to CAD based on the XRP price. To learn how to buy XRP, scroll down to see how to buy XRP.
How to buy XRP (XRP)?
Here's how to buy XRP on Coinsquare
To buy XRP, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying XRP. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select XRP from the list on the trade section
Coinsquare lets you trade XRP without leaving the app. You can also check the XRP price and convert XRP to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the XRP price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy XRP (XRP)
Congratulations! You’re now the proud owner of XRP. You can either HODL or use it to exchange XRP to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my XRP (XRP)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add XRP (XRP) to your portfolio?
Create your account, fund it with spare change and get a little bit of XRP.
