How to Buy XRP in Canada

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How we test: We sign up for real accounts, deposit Canadian dollars ($CAD) via Interac e-Transfer, execute real trades to calculate true spread markups, and test withdrawal times to cold hardware wallets.
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Buy XRP Canada

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Buying and selling XRP in Canada follows the same basic process as buying Bitcoin or Ethereum — set up an exchange account, fund it with Canadian dollars, and trade. Convert XRP to CAD.

How to Buy XRP in Canada

  1. Set up a Canadian crypto exchange account
  2. Set up an XRP wallet
  3. Buy & send XRP from exchange to your wallet
Platform XRP Spread/Fee CAD Deposit Fee XRP Withdrawal
Newton ~1.5% - 1.6% Free (Interac) Free Lane (nightly)
NDAX 0.20% Free (Interac) Flat network fee
Netcoins ~1.25% - 1.5% Free (Interac) Network fee
Kraken 0.16% - 0.26% 0.5% - 1.5% (Interac) Network fee
Wealthsimple ~1.5% - 2.0% Free (Bank / Interac) Network fee

1. Where to Buy XRP: A Crypto Exchange

A cryptocurrency exchange is where you buy and sell XRP in Canada.

Funding and deposit options: INTERAC e-Transfer, wire transfer or bank draft are the easiest ways to transfer funds between your bank account and the crypto exchange.

Payment options like credit cards and Paypal don't work for most exchanges and banks. E-transfer is the easiest and cheapest way for most Canadians to transfer funds.

There is a fee (spread) for this exchange, rates will vary.

Exchanges and banks in Canada comply with KYC (Know Your Customer) Laws. This means you will need to upload a photo ID and other documentation to verify your identity before you buy XRP.

  1. Newton – Recommended for beginners. Low fees, easy to use, and 75+ altcoins including XRP. Some users report signing up and the verification process can take time.

  2. NDAX – Recommended for buying and selling larger amounts. 0.20% flat trading fee. XRP/CAD order book with limit orders.

  3. Netcoins – Netcoins is the first publicly owned crypto trading platform in Canada. Supports XRP with Interac e-Transfer funding.

  4. Kraken – Global exchange with deep XRP liquidity. 0.16%-0.26% maker/taker fees on Kraken Pro.

  5. Wealthsimple – Trade stocks and crypto in one app. Convenient if you already use Wealthsimple for investing.

Can I buy XRP on Shakepay? No. Shakepay only supports Bitcoin, Ethereum, and USDC.

Compare Crypto Exchange Fees ➞

2. Set up Your Wallet

A cryptocurrency wallet is software that allows you to securely store, send and receive digital assets.

You can start with a Software Wallet (hot) to hold the keys to your XRP. Some popular and trusted wallets are Exodus, Trust Wallet, and Xaman (formerly XUMM).

Hardware Wallets offer offline storage for more security. Trezor or Ledger are current market leaders. Security Tip: Buy your hardware wallet direct from the manufacturer.

One thing to know about XRP wallets: The XRP Ledger requires a minimum reserve of 1 XRP to activate a wallet address. This is a network rule — not a fee from your wallet provider.

IMPORTANT! Backup Your Wallet with a Seed Phrase

A seed phrase is 12 or 24 simple words the computer randomly generates for you. This is used to backup your crypto funds and allows you to regain access to your funds if something happens to your wallet.

Write your seed phrase on a piece of paper to back up your wallet. Put it somewhere very safe.

3. Send XRP from Exchange to Your Wallet

SEND your XRP from the exchange to your wallet RECEIVE address.

XRP transactions are fast — usually 3-5 seconds with very low fees. Make sure to include the destination tag if your exchange or wallet requires one. If you skip the destination tag, the transaction could be lost.

Tip Confirm the first and last 4 digits of wallet addresses to make sure you copied and pasted the wallet address correctly.

What is XRP?

XRP is the cryptocurrency that runs on the XRP Ledger, an open-source blockchain created by Ripple Labs in 2012. It was designed for fast, low-cost cross-border payments.

Unlike Bitcoin, all 100 billion XRP tokens were created at launch — there's no mining.

Ripple (the company) uses XRP in its On-Demand Liquidity (ODL) product to help financial institutions move money across borders without pre-funding accounts in other currencies.

The SEC sued Ripple in 2020 over XRP sales. In 2023, a US court ruled that retail sales of XRP on exchanges are not securities. Ripple paid a $125 million penalty for its institutional sales. Both sides dropped their appeals in August 2025, so the case is officially over.

Is it legal to buy XRP in Canada?

Yes.

Frequently Asked Questions

Is XRP a good investment? I don't know. Do your own research. XRP has been around since 2012, which makes it one of the older cryptos. The SEC lawsuit is over, which removed a big source of uncertainty. But past performance doesn't guarantee anything.

What is the difference between XRP and Ripple? Ripple is the company. XRP is the cryptocurrency. Ripple uses XRP in its payment products, but XRP itself trades independently on exchanges. Buying XRP is not the same as buying stock in Ripple.

Can I buy XRP through my bank? Not directly. You will need to send an Interac e-transfer or wire transfer to Newton or NDAX from your bank.

Can I withdraw XRP on Wealthsimple? Yes. Wealthsimple added crypto withdrawals a few years ago. You can now send XRP to your own wallet.

What is a destination tag? A destination tag is an extra number required when sending XRP to some wallets and exchanges. It tells the receiving end which account the XRP belongs to. If you forget it, your XRP could be lost. Always double-check before hitting send.

What is the XRP reserve requirement? The XRP Ledger requires every wallet to hold a minimum reserve (currently 1 XRP). This means your first XRP deposit needs to be more than 1 XRP, and you can't send your entire balance — 1 XRP will always be "locked" in your wallet. This is a feature of the XRP network, not the exchange.

Conclusion - Where to Buy XRP in Canada

Newton is the easiest exchange for beginners to buy XRP in Canada.

Why I recommend Newton:

  • 75+ altcoins including XRP
  • Low spread fees
  • Interac e-transfers for fast deposits and withdrawals
  • Send XRP to your own wallet
  • Get a $20 Sign Up Bonus →

If you're buying larger amounts, NDAX has a 0.20% flat trading fee — much lower than spread-based exchanges.

You may also be interested in: How to buy Ethereum in Canada