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Title: Trading bitcoin with Ripple client? Post by: Parasol on June 24, 2013, 06:11:32 PM Hello all
New forum member checking in. I am just dipping my feet in the big crypto-currency ocean. I have read up on bitcoin and Ripple (xrp) and have set up a Ripple account to try things out. Since bitcoin can be traded via the Ripple client is it necessary for me to set up a bitcoin wallet? I have no desire for now to change my bitcoin into USD and I really like the Ripple interface. That and the anonymity and fast trading possibilities seem like very nice features. But please enlighten me if I'm wrong :D Title: Re: Trading bitcoin with Ripple client? Post by: harlenadler on June 24, 2013, 06:51:44 PM At this point Bitstamp is really the only viable gateway. You don't a BTC address, but to cash out bitcoins to your Bitstamp acct, you need a Bitstamp acct.
Title: Re: Trading bitcoin with Ripple client? Post by: Parasol on June 24, 2013, 07:14:57 PM Thanks for clearing that up.
So the main reason for me to open a bitstamp acct would be: 1. To be able to pay with bitcoin on web sites 2. To store my bitcoin in a place that right now is considered safer than a Ripple beta client 3. To be able to withdraw as USD to a bank account I'll read up some more I guess. Title: Re: Trading bitcoin with Ripple client? Post by: joshraban76 on June 24, 2013, 07:16:49 PM Thanks for clearing that up. So the main reason for me to open a bitstamp acct would be: 1. To be able to pay with bitcoin on web sites 2. To store my bitcoin in a place that right now is considered safer than a Ripple beta client 3. To be able to withdraw as USD to a bank account I'll read up some more I guess. i dont think holding btc in bitstamp account is any safer than holding btc iou in ripple account (if issued by bitstamp). basically both situations = bitstamp owes you btc but yes to number 1 and 3 i think Title: Re: Trading bitcoin with Ripple client? Post by: Parasol on June 24, 2013, 09:06:02 PM Thanks. Nice helpful people on this forum :).
So for now I will conduct my trades in the Ripple client. If anyone have further comments they are most welcome. Title: Re: Trading bitcoin with Ripple client? Post by: snapswap on July 17, 2013, 04:01:15 AM If anyone have further comments they are most welcome. Now ripple allows direct bitcoin payments from the ripple wallet (if a path is available). So you can store your savings in XRP or whatever IOU. http://blog.snapswap.us/2013/07/bitcoin-bridge-lets-ripple-users-make.html |