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CAD Deposit Methods


Vacek_aka_Luschka

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What deposit methods are folks using to ultimately end up with XRP ?

I've used QuickBT , Quadrigacx and a couple others ... 

In the end, buying Bitcoin, moving to Kraken and then buying XRP is costing a bundle in fees. I cannot seem to allow myself the time to wait 2-5 days for a simple bank transfer directly into Kraken.

Curious how other canucks are minimizing all these hops and fees.

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In the past I have used:

  • RippleUnion and then sporadically when it changed hands to XAGate.
  • Bluzelle, still use it for withdraws when liquidity allows
  • Bitstamp before Vogogo went under
  • The Rock Trading before Vogogo went under
  • SnapSwap before it went under (paying the fee AND exchange rates)
  • Gatehub (paying the fee AND exchange rates)

I can use but have not yet:

  • QuickBT
  • Quadrigacx
  • Polo
  • CoinBase
  • Kraken
  • Ripple Fox
  • Bitso
  • LocalBitcoins
  • Changelly
  • Stellar
  • More

To be honest I have not made any transfers since the new gateways went online. I am KYCd at almost all of them. No idea why really- I whenever a new gateway goes onlines I am in line with ID on hand. I am probably one of the most connected users out there.

CAD used to be one the easiest to on board thanks to RippleUnion and then Bluzelle, but liquidity is a major issues. XAGate has... issues with its operations. Bluzelle is more b2b, but they do have a hosted wallet and allow direct interac purchase. I wish more CAD used Bluzelle, the only holdup is liquidity.

 

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I primarily use Coinbase with CC. No issues and I won't do wires. 

There is also Quebex which looks appealing should I ever want to do larger sums, it appears to be a different but completely legit way of doing things. I would still start small there though. 

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We should come up with a cost scale for the various options.

Something like XRP/ CAD (-minus fee, conversion, charges, exchange rates, etc.)

I like Bluzelle simple because I could do interac and get a straight XRP/ CAD order without all the other fees. With liquidity right now though it is cheaper for me to go CAD-> USD/XRP. That is getting even better with the rising dollar as well

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As of right now:

XRP: USD.Bitstamp is 0.1764. Using the official bank rate of exchange it should be equal to XRP: CAD of 0.22

Bluzelle is offering XRP for a spread of 0.11, 0.45

XAGate is offering XRP for a spread of 0.2799, 0.4

Kraken is offering XRP for 0.222878

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On 2017-07-25 at 2:18 PM, 711Xrpy said:

I use QuadrygaCx with bank wire transfer to purchase BTC and ETH and then exchange on GateHub to purchase XRP. Then I move to a hard wallet. Good experience using Quadryga (based in Vancouver). 

Earlier today I used QuadrygaCx and purchased ETH with Interac. I then transferred that to Kraken and purchased Canadian with it.

I netted our making a couple of bucks as ETH climbed while I did all the shuffling so it was fee free and got a handful of XRP for free out of the deal.

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7 hours ago, Mercury said:

What do you do for cash outs? Or anyone for that matter?
Just the reverse? XRP to BTC to CAD?

I'll let you know in 6-24 months :)

I hope I can liquidate on Kraken. XRP > CAD and withdraw. That would be super simple.

I may go XRP > BTC > CAD if I can gain anything. I'll fiddle with the options when the time comes.

Edited by Luschka
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  • 2 months later...
On 24/07/2017 at 8:50 PM, Luschka said:

What deposit methods are folks using to ultimately end up with XRP ?

I've used QuickBT , Quadrigacx and a couple others ... 

In the end, buying Bitcoin, moving to Kraken and then buying XRP is costing a bundle in fees. I cannot seem to allow myself the time to wait 2-5 days for a simple bank transfer directly into Kraken.

Curious how other canucks are minimizing all these hops and fees.

Wish, I could help you but I would be playing hop-scotch with ya. Just hodl.

 

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