Buy Ripple
in Australia

Some experts predict that the price of this coin will get higher when more banks and financial institutes accept and start working with XRP and Ripple networks. If you are thinking about investing in a cryptocurrency, XRP can be a good choice. However, before buying XRP you should do more analysis and read more reviews to make sure it is worth buying. 

According to the crypto asset transactions guide by the Australian Government, Capital Gains Tax should be considered when you dispose of your crypto asset. If you make a capital gain after a disposal, you may pay tax on it. A transaction involving a disposal takes place when you do any of the following: sell a crypto asset, gift a crypto asset, trade, exchange or swap a crypto asset for another crypto asset, convert a crypto asset to Australian or foreign currency (otherwise known as fiat currency), and buy goods or services with a crypto asset.

According to the crypto asset record keeping guide by the Australian Government, you must keep records of each of your crypto assets and every transaction, to work out whether you have made a capital gain or loss. For your crypto assets, you should keep: receipts when you buy, transfer or dispose of crypto assets, a record of the date of each transaction, a record of what the transaction is for and who the other party is (this can just be their crypto asset address), exchange records, a record of the value of the crypto asset in Australian dollars at the time of each transaction, records of agent, accountant and legal costs, digital wallet records and keys, a record of software costs that relate to managing your tax affairs.

No. You should buy at least 20 ripples to activate the XRP wallet.

It is estimated that 0.9 million people, 3.4% of the total Australian population, currently own at least one form of cryptocurrency.

Chris Larsen and Jed McCaleb are the founders of Ripple network and its token “XRP”.