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Best way to buy Ripple in Canada: 2018 edition

CoinGuyCoinGuy Administrator
edited January 2018 in Ripple
So far the most seamless way for me to buy Ripple (XRP) has been moving any balance I have in Ether, from any exchange, into Binance and then executing the trades for it.

Finally I transfer off Binance into my Toast wallet.

If people here need a more detailed Canadian specific guide, I will write it up later :)
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Comments

  • yes please share something canadian specific.
  • CoinGuyCoinGuy Administrator
    edited January 2018
    Accounts/Tools:

    Below is the Canadian Edition Step by Step

    1. Open an account at Quadrigacx
    2. Verification is not needed if you are not funding CAD with them
    3. Convert your Bitcoin to Ether, or buy Ether for the amount you want. You can do that on this page.

    4. Using Ethereum will reduce cost and increase speed of transaction. You can use Litecoin too if you wish.
    5. Download jaxx.io. Use express setting and make sure to select Ethereum Wallet. Make sure to initialize this wallet. This means you click on the ETH tab at the top.

    6. Open an account at Binance.
    7. Send the Ether or Litecoin to Binance, by clicking on the "funds" tab at Binance, and selecting deposit/withdrawl

    8. Once you are other page select the currency (ether or litecoin)

    9. Click deposit and you will get an address from Binance to send funds

    10. Copy to address and go back to your Jaxx wallet and select send.

    12. Enter the address you got from Binance in the receiving address area and enter the amount to send to Binance.

    13. You can watch the the order here at Binance: https://www.binance.com/userCenter/transactionHistory.html. Once Ether hits 30 confirmations you can trade your Ether for XRP.
    14. To trade Ether for XRP, select the exchange menu item

    15. Make sure you are looking at Ether in the side menu and filter on XRP

    16. Click on the pair and once the page loads, scroll down to the actual trade interface

    17. Buy your XRP, use the market tab, as it's the quickest/simplest. Make sure if this is your first transaction you buy at least 20 XRP. You must have this in your wallet for the transaction to work.

    18. Wait for the transaction to complete. You can follow the orders here: https://www.binance.com/userCenter/openOrders.html
    19.Once completed, you can select to withdraw the XRP by heading back to the Fund page, but this time selecting XRP, and the "Withdraw" button.

    20. Many people here use the Toast wallet for this. You can get it here https://toastwallet.com/.
    21. Add the address from your XRP Toast wallet in Binance. You may notice with withdrawing XRP you are asked a desitnation tag. If you are transferring to your own wallet address you can use destination tag 0. Read the rest of the Toast FAQ here: https://toastwallet.com/faq
    22. Funds will arrive after a bit. Rejoice!


    Anyway, hope this helps you get on your way!!!
  • CoinGuyCoinGuy Administrator
    I've updated the steps because it's come to my attention best practice should be to go to your wallet first not exchange to exchange, even though I did do that a couple of times without issue, it seems I got lucky :p
  • CoinGuyCoinGuy Administrator
    edited January 2018
    Also I should add, Ripple will be coming to Quadrigacx in the coming weeks, but if you want to take advantage of the surge, Binance seems to be a solid choice at the moment. Especially if you use the BNB token to reduce your trading fees to .05%
  • Any other decent exchanges to buy Ripple at currently? Binance is currently not letting new users sign up :(

    From their site today;
    "Due to the overwhelming surge in popularity, Binance will have to temporarily disable new user registrations to allow for an infrastructure upgrade. We apologize for any inconvenience caused."
  • CoinGuyCoinGuy Administrator
    @richetechguy right now http://www.ezbtc.ca/ in Canada can do the trades. Kraken is also available. Also Quadrigacx says they will be adding soon. Also not sure how long "temporary" is for Binance. Could be a day or two or a week. Not sure.
  • How do we use the BNB token to reduce your trading fees to .05%? I didnt see that in the photos
  • CoinGuyCoinGuy Administrator
    edited January 2018
    You turn it on your profile in Binance. You need to have BNB tokens.
  • I’m on ezbtc and trying to buy ripple. My balance in CAD is $197 and I’m attempting to buy $197 (cdn) of XRP. I get a message saying “total needs to be higher than the minimum order”. It’s shows the minimum order as being $50 CAD. Where am I going wrong?
  • CoinGuyCoinGuy Administrator
    @atc250r please open a ticket with ezbtc. No idea.
This discussion has been closed.