Coinsquare wrote in a post which can be found in the help section of its website, that the XRP addition is still in its beta testing phase, but users can perform all the usual trading operations. Customers can make XRP deposits to their accounts, trade or exchange XRP for fiat or other cryptocurrencies.
The only issue is that users cannot make XRP withdrawals to external wallets, which are unavailable at the time of writing.
„Our team is working hard to have XRP withdrawals implemented as soon as possible,“ read the post made by Coinsquare.
The exchange also advised its users to proceed with caution when performing XRP deposits and to be positively certain that they have put the XRP tag, or they will lose their deposit.
“XRP has been a highly requested asset which we are thrilled to now be offering to Canadians. Now that we have the technical infrastructure built out to add more currencies safely and efficiently, I’m excited to announce that we will be adding more coins to our offering in the near future,” stated Cole Diamond, the CEO of Coinsquare.
“The carefulness that we took with listing XRP will enable us to more seamlessly support coins moving forward, and has allowed Coinsquare to have the groundwork in place for more streamlined expansion,” said Coinsquare’s Chief Digital and Growth Officer, Thomas Jankowski.
Coinsquare is Canadian cryptocurrency exchange which was established in 2014 and offers crypto-to-fiat (Canadian dollars) and crypto-to-crypto trading. Before adding XRP, the platform also listed Bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin, and Dash.
Among Coinsquare’s most recent developments is the creation of its new division, named Coin Capital Investment Management Inc (Coincapital), that will deliver users an assortment of blockchain-related investment services, digital currencies, artificial intelligence (AI), and other ground-breaking technologies.
The exchange also revealed in July that it intends on expanding to Japan and set up a crypto exchange there, in collaboration with DLTA 21 Blockchain, a blockchain investment bank. There have also been speculations that Coinsquare is looking to expand its operations to its southern neighbor, the USA.