New to Crypto? Make sure you read the things you need to know about the Crypto Market in Canada for 2019. We've put all you need in this updated post!

Best way to buy Ripple in Canada: 2018 edition

2

Comments

  • CoinGuy said:

    @atc250r please open a ticket with ezbtc. No idea.

    Thanks for the reply. Finally got it to work. Didn’t do anything different, it just worked after about 10 attempts.

    This was my first ever crypto purchase! Now how do I get this XRP into my Nano S?
  • CoinGuyCoinGuy Administrator
    Make sure you have the Ripple app

    https://support.ledgerwallet.com/hc/en-us/articles/115005177349

    Withdraw to the receive address you have in the app.
  • @atc250r try putting a decimal in. 197.00. It may work as I've had some issues not adding the decimal. Hope this works.
  • Ok. Crypto newbie guy here. lol. Why not just purchase XRP from ezBtc...or am I not understanding your post...
  • CoinGuyCoinGuy Administrator
    edited January 2018
    @Alonzo, Binance does it real time (automated). Ezbtc does it manually -- which means you can lose out on market swings (at least right now)
  • First off, thanks for allowing me membership. I have been reading here for a while, before registering, to get a better understanding of everything (and boy there is a lot to learn). Hopefully this isn't considered "grave-digging" as the post is only a week-ish old.

    This guide was very very insightful and really helped a lot but I have a question that is nagging at me : aren't you getting "double-fee"s by moving it to your jaxx then to binance and back again? Wouldn't it be cheaper to move directly to binance (albeit more insecure I suppose in case of loss) then out to your wallet when finished? Or perhaps I misunderstand something about the fee structure.

    Thanks for your time.
  • CoinGuyCoinGuy Administrator
    @landjea This was a process I think works to ensure you OWN your crypto. Keeping money on any exchange is not ideal. I wasn't expecting someone to do all in one day.
  • Alright, so I am thinking I did understand it properly. Thanks @CoinGuy.

    And so, for Canadians that want to trade for alt-coins,it would be this process, correct?

    1) Import CAD funds into Quad/Coinsquare/Coinbase. (Fee #1)
    2) Purchase ETH/LTE (Fee # 2)
    3) Transfer ETH/LTE to Binance (or Polo or Krak or Stamp or whatever) from whichever wallet. (Fee #3)
    3a) If LTE, transfer to ETH or BTC at Binance to enable exchanging for altcoins since Binance doesn't exchange most alts for LTE. (Fee #4)
    4) Exchange at Binance (or wherever) for desired the alt-coins. (Fee #5)
    5) Withdraw new alt-coins to their appropriate wallets (Fee #6)

    if just day-trading of altcoins or want to "cash out"
    6) Exchange alt-coins from appropriate wallets back to ETH/LTE (Fee #7)
    7) Transfer compatible coins back to Quad/CoinSquare (Fee #8)
    8) Withdraw from Quad/CS to CAD Bank. (Fee #9)

    Do I have the fee structure correct? Almost 10 fees for Canadians trying to do this? Man I hope the Canadian Banks sort themselves out since that is a lot of unnecessary steps and fees. (Or, alternatively, I hope I have the whole process wrong. :blush: )
  • CoinGuyCoinGuy Administrator
    edited February 2018
    It’s been a long day for me @landjea but you have it right. Hopefully your gains covers fees and more...
This discussion has been closed.