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new ripple/xrp holder, and unfortunately for me..


lgdivx
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new to crypto investing, and looked and compared different ledgers, and to what i could understand found xrp ledger the best and most interesting with the limited knowledge i have in crypto.  Unfortunately for me, the place i used to buy xrp from is now saying they will turn the xrp to CAD by Dec 31st and stop selling XRP or buying due to legislation?  this makes no sense to me, they do not specify the legislation broken.  I need to know, does anyone use Newton and do they know what the best way to transfer to a wallet? i already have on order a Ledger Nano X, hoping that was a good choice for a crypto wallet but not 100% sure.  Any help on how to transfer from Newton to this hardware wallet would be great.  I am thinking i will try to transfer very little xrp at first to make sure things are working.  Any suggestions would be welcomed by all.

Also, they sure did make me feel like having XRP is a bad choice by saying due to legislation they will stop selling it.  Yet NDAX still sells it which is also a canadian company.  Are they trying to get us to sell off xrp so the big powerful rich can grab it all to themselves or what?

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Transferring to your Nano is a great idea. Indeed first try a small amount. Remember some exchanges are very slow so it can take some time to arrive. Never share the 24 words seed code for your Nano whit anyone. These can be used to restore your funds when your Nano gets stolen. Ripple is in a court case with the SEC. That is why some exchanges are delisting. The outcome of the court case is expected early next year. 

 

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If I were in your situation I'd move it to nexo. I'd lock the xrp in lending for 30 days. You get 5% apy. Then by the time the 30 days is done you'll have the ledger nano and you'll make enough money to pay the withdrawal fee. 

remember to include a the destination tag when sending to an exchange. and remember to write down your word list. 

Double check the address you are sending to and the destination tag every time no matter what. double check every word list you write down. 

in fact don't double check. quadruple check. 

Move the xrp as soon as possible because you don't know how long a withdrawal will take nearing the end of a bull run. 

 

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thanks guys for the responses.  Jargoman, would you not have to report the interest gained in canada as capital gains?

Also, is this available for canadians?

i am assuming you are talking about this exchange: https://nexo.io/specials

so they are also an exchange i am assuming?  you can buy/sell, but i am wondering if it is more difficult in Canada as it isn't canadian based.  it is so confusing in Canada what we can and can't do, gets frustrating trying to figure this stuff out.

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