Shield Icon Credit Card Icon

Monthly Newsletter


XRP and Ethereum Classic Now Available on Bitvo

Bitvo is pleased to announce that XRP and Ethereum Classic are now available on its cryptocurrency exchange platform.

XRP is the native currency of the Ripple network, which is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a U.S.-based technology company. Ethereum Classic is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality.

As part of a broader initiative to increase its offering to customers, Bitvo will provide customers with the ability to purchase or sell XRP and Ethereum Classic with either Canadian dollars or Bitcoin. Customers can also fund their account with either of these new offerings, with any of the other cryptocurrencies Bitvo supports or with Canadian dollars.

The addition of these new cryptocurrencies increases Bitvo’s overall offering to seven including, in order of market capitalization, Bitcoin, Ether, XRP, Bitcoin Cash, Litecoin, Dash and Ethereum Classic.

“The addition of XRP and Ethereum Classic is in response to feedback we are receiving from our customers. We’re excited to add these to our offering. As we continue to listen to what our customers want, we will add additional cryptocurrencies as well as optimize the user experience on our platform.” says Pamela Draper, President & CEO.


The Cryptocurrency Landscape in Canada

Interest in cryptocurrency is on the rise globally and Canada is no exception. The country has been widely hailed as one of world's leading locations for blockchain and digital currency development, thanks to a combination of innovation, low energy costs, high-speed Internet access and other variables.

According to one measure, Canada ranks third globally (behind the United States and the United Kingdom) in terms of embracing blockchain technology. This means that for developers and traders, there are few better places to create, purchase or transact with digital assets than Canada.

With that in mind, let's take a closer look the Canadian cryptocurrency landscape, and what it means for traders.

Canadian Crypto Regulations: What's the Latest?

The Canadian government has been working on a comprehensive set of regulations for the cryptocurrency space. However, in August 2018, government officials announced that these regulations, which were scheduled to be published this fall, would be delayed until late 2019. This means that existing regulations will likely remain in place until 2020, given that it takes an additional 12 months for new regulations to come into effect.

Some observers have hailed this delay as a positive development, as the proposed regulations would have resulted in stricter compliance regulations for businesses within the sector. While the regulatory policies were designed in part to provide greater clarity for both businesses and investors, observers have also suggested that the wording used by regulators was overly broad and vague.


Curious About Cryptocurrency Valuations? Here's Your Answer

For those just starting to trade cryptocurrency, one of the first questions that usually arises involves coin and token values. Given that it's normal to see the price of a Bitcoin rise or fall by hundreds of dollars in one day, it's natural to wonder why these fluctuations are occurring

With that in mind, let's take a closer look at the factors that influence the prices of popular digital currencies such as Bitcoin, Ether, XRP, Bitcoin Cash, Litecoin, Dash and Ethereum Classic.

Cryptocurrency Valuations 101 If you're new to digital assets, you've probably wondered about the price disparities between different coins. Why is Bitcoin valued at US$6,500, for example, while Litecoin is valued at US$65? The truth is that these prices are derived from a multitude of different factors, including the following:

Limits on supply. Digital assets with greater scarcity tend to have a higher price. Bitcoin, for example, is capped at 21 million coins, while Litecoin is capped at 84 million. Coins with circulations in the billions or tens of billions are often valued as low as a few cents, or even a few fractions of a cent. Traders, however, should pay closer attention to a coin's market cap, rather than price, when assessing overall value.


Cryptocurrency Security: How to Safely Store Your Coins and Tokens

One of the things that makes cryptocurrency so revolutionary is the idea of decentralization. For the first time in history, one person can send digital currency to another person, without the need for a bank or any other third-party. Users control their own funds at all times, and each transaction is immutably recorded on a blockchain.

While "cutting out the middleman" in this respect offers myriad powerful benefits (including the potential for faster and cheaper transactions), it also comes with a challenge: when you act as your own bank, you need to ensure that you're always operating as safely and securely as possible. After all, if your coins or tokens are lost because of a user error or a hack, you won't have Visa or American Express around to make you whole.

With that in mind, let's take a closer look at the best methods for keeping your cryptocurrency safe and secure.

The Essentials of Cryptocurrency Security

Unlike other asset classes, cryptocurrency is both a medium of exchange and (to varying degrees depending on the asset) decentralized. This means the available methods for storing digital currencies are more diverse and more complicated than usually seen with something like stocks or bonds.


Cryptocurrency Fees: Everything You Need to Know

If you're new to cryptocurrency trading, you've likely noticed that fees come in many different forms and sizes. Even across a single trading platform, fees can vary considerably. In addition to exchange fees, most digital currencies also require transaction fees when moving fiat currency on or off of the exchange or digital assets between wallets.

To help you better understand these fees and how they may affect you, let's take a closer look at why these charges exist, and the different varieties you'll encounter when trading in digital currency.

Exchange Fees 101

The idea behind cryptocurrency trading fees is simple: In exchange for hosting a reliable trading platform and providing a range of customer services, exchanges assess a fee on buyers and sellers. The precise fee assessed depends on both the exchange and the type of trade that's being performed.

To help illustrate the process, let's review some basic trading fees:

Fixed fee buy and sell orders. Under a fixed fee buying scenario, a customer logs onto a trading platform and pays market price for a coin. In addition to the current market price, the buyer also pays the exchange a percentage-based fee along with the transaction. So, for example, if this person buys $500 worth of Bitcoin and the exchange charges one-percent, a $5 fee would be assessed. Charges such as these are referred to as "fixed fees" because they do not fluctuate.


The Same Day Bitvo Guarantee

Bitvo is designed to alleviate the friction associated with cryptocurrency exchanges. We’re so confident that we will guarantee you same day processing on account registration, funding and withdrawal transactions and access to live customer support 24 hours a day, 7 days a week, 365 days a year. This is our guarantee to you or we will credit your account for our withdrawal fee*

Ready to get started? Begin trading today.

create your bitvo account

Questions? We’re here 24/7.

Get in touch with our support team.

Thank you for signing up, we will be in touch soon!