Trade by yourself! Avoid middleman! Ripple -Buying/selling XRP-Noob guide

[bitcoinbear]

Mah87, I registered a Bitstamp account to do what you're describing but I am confused.

Do I trade XRP for BTC within Ripple, and then transfer the BTC from Ripple -> Bitstamp?

If that's the case, why can't I just trade Ripple for BTC within Ripple then send to my own wallet address?

Can the Ripple account hold BTC and XRP at the same time?

Can the Bitstamp account hold XRP and / or BTC?

There are no plain old BTC within ripple, so you cannot send directly to your bitcoin address. When people put btc "into ripple" there is always somebody holding the bitcoins, for example Bitstamp.

Ripple accounts can hold XRP, BTC-IOUs, USD-IOUs, whatever other IOU currency you want to use. The only "real" currency in the ripple account is the XRP, all the rest are just IOUs from another user.

[ghibly79]

I still need some 100+ XRP to start trading. Anyone kind enough to spare?

[miztaziggy]

Well now I have a message from this mah87 asking to buy my XRP on the cheap.

It seems he is just another one of these guys he writes about 

[bitcoinbear]

I still need some 100+ XRP to start trading. Anyone kind enough to spare?

Check out my thread "Ripple Starter Loans", if that interests you: https://bitcointalk.org/index.php?topic=210509.0

[b!z]

Thanks for the tip. Is there a way to tell where the IOU Bitcoins are being held (Bitstamp, or a fake gateway..)?

[bitcoinbear]

Thanks for the tip. Is there a way to tell where the IOU Bitcoins are being held (Bitstamp, or a fake gateway..)?

If you only trust the Bitstamp gateway then any BTC IOUs you receive will have actual BTC held at Bitstamp.

The ripple network is very transparent, check out https://ripple.com/graph/, if you put in a ripple address you can see who they trust and what they hold. For your own account, you can go to the "trust" page, and for each line of trust you have there is a bar with the balance for that trust pair.

[symbot]

Excellent advice!  Thanks.

[niner]

+1

[SNAZ31]

Can someone just clear up one thing... So when you make a trade are there any fees involved either through ripple or bitstamp?

And say I had been trading for a while then I want some bitcoins to go direct to my personal wallet, I guess I send from ripple to bitstamp and then from bitstamp to my wallet... Are there any fees incured in that process?

Thanks a lot and it was a good guide cos it got me started, not made a trade yet. Gonna wait a little while till I understand it some more. Cheers

[ironcross360]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

[mah87]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

[ironcross360]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

I am the best middleman around, Want a job let me know.

[mah87]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

I am the best middleman around, Want a job let me know.

lol :p

stop it you know you're not =D

[SNAZ31]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

Well I know nothing about bitstamp, I will look into them a bit though and see what's up... I am a little confused though by this bit... "there is no reason to say those bitcoin are not real"...

Sounds like there is a question there as to whether they are real or not... That is a little concerning. lol... Or is it the same as when you have them on any other exchange? As in you are not really trading "real" bitcoin but rather just numbers and then they release "real" bitcoins when you withdraw?

On a side note this guy has been trying to buy my xrp's for a discount! lol...

Either way I will do some more research and then see what I decide to do.

So far I am inclined to believe you as you don't stand to gain anything... lol

[mah87]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

Well I know nothing about bitstamp, I will look into them a bit though and see what's up... I am a little confused though by this bit... "there is no reason to say those bitcoin are not real"...

Sounds like there is a question there as to whether they are real or not... That is a little concerning. lol... Or is it the same as when you have them on any other exchange? As in you are not really trading "real" bitcoin but rather just numbers and then they release "real" bitcoins when you withdraw?

On a side note this guy has been trying to buy my xrp's for a discount! lol...

Either way I will do some more research and then see what I decide to do.

So far I am inclined to believe you as you don't stand to gain anything... lol

I'm willing to buy cheap xrp from people who are lazy or have no time to learn how to use ripple. Anyway I'm also willing to help the community and give very simple information that can make you save a lot of time. You're welcome

[SNAZ31]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

Well I know nothing about bitstamp, I will look into them a bit though and see what's up... I am a little confused though by this bit... "there is no reason to say those bitcoin are not real"...

Sounds like there is a question there as to whether they are real or not... That is a little concerning. lol... Or is it the same as when you have them on any other exchange? As in you are not really trading "real" bitcoin but rather just numbers and then they release "real" bitcoins when you withdraw?

On a side note this guy has been trying to buy my xrp's for a discount! lol...

Either way I will do some more research and then see what I decide to do.

So far I am inclined to believe you as you don't stand to gain anything... lol

I'm willing to buy cheap xrp from people who are lazy or have no time to learn how to use ripple. Anyway I'm also willing to help the community and give very simple information that can make you save a lot of time. You're welcome

That is fair enough, thanks again... It has made things a little clearer and I will NOT be lazy and do some more research! lol

Good luck to you sir.

[mah87]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

Well I know nothing about bitstamp, I will look into them a bit though and see what's up... I am a little confused though by this bit... "there is no reason to say those bitcoin are not real"...

Sounds like there is a question there as to whether they are real or not... That is a little concerning. lol... Or is it the same as when you have them on any other exchange? As in you are not really trading "real" bitcoin but rather just numbers and then they release "real" bitcoins when you withdraw?

On a side note this guy has been trying to buy my xrp's for a discount! lol...

Either way I will do some more research and then see what I decide to do.

So far I am inclined to believe you as you don't stand to gain anything... lol

I'm willing to buy cheap xrp from people who are lazy or have no time to learn how to use ripple. Anyway I'm also willing to help the community and give very simple information that can make you save a lot of time. You're welcome

That is fair enough, thanks again... It has made things a little clearer and I will NOT be lazy and do some more research! lol

Good luck to you sir.

I described everything very clearly. The best I could do know is put some screenshot or come at your home and do it for you. I can do it for you online and I invite to buy/sell from me

[SNAZ31]

No fees, but are more prone to being glitched, and its hard to withdraw as there not REAL bitcoins you get in return. you get fake btc

Actually using bitstamp as a gateway is the same than using it as an online wallet. If you don't trust bitstamp then don't use it. If you think they are could be trust then there is no reason to say those bitcoin are not real :p

you know it iron. Stop trying to be the middleman ahah

Well I know nothing about bitstamp, I will look into them a bit though and see what's up... I am a little confused though by this bit... "there is no reason to say those bitcoin are not real"...

Sounds like there is a question there as to whether they are real or not... That is a little concerning. lol... Or is it the same as when you have them on any other exchange? As in you are not really trading "real" bitcoin but rather just numbers and then they release "real" bitcoins when you withdraw?

On a side note this guy has been trying to buy my xrp's for a discount! lol...

Either way I will do some more research and then see what I decide to do.

So far I am inclined to believe you as you don't stand to gain anything... lol

I'm willing to buy cheap xrp from people who are lazy or have no time to learn how to use ripple. Anyway I'm also willing to help the community and give very simple information that can make you save a lot of time. You're welcome

That is fair enough, thanks again... It has made things a little clearer and I will NOT be lazy and do some more research! lol

Good luck to you sir.

I described everything very clearly. The best I could do know is put some screenshot or come at your home and do it for you. I can do it for you online and I invite to buy/sell from me

Wait what? lol... I can do it dude, that is not the problem! Just want to look more into which gateway to trust etc... No need for you to come round and do it for me... And no, now I have no need for the middleman! lol

[bitcoinbear]

Well I know nothing about bitstamp, I will look into them a bit though and see what's up... I am a little confused though by this bit... "there is no reason to say those bitcoin are not real"...

Sounds like there is a question there as to whether they are real or not... That is a little concerning. lol... Or is it the same as when you have them on any other exchange? As in you are not really trading "real" bitcoin but rather just numbers and then they release "real" bitcoins when you withdraw?

The BTC on Ripple are just as real as the BTC on MtGox or any other exchange. You are trading your entries in a ledger for some other entries in a ledger, when you request a withdrawal then you get real bitcoins sent to your wallet, just like you don't get real dollars until you request a withdrawal.

[Hfleer]

Good advice, too many threads of people trying to buy your Ripple.