Trading bitcoin with Ripple client?

[Parasol]

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 

[harlenadler]

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.

[Parasol]

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.

[joshraban76]

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

[Parasol]

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.

[snapswap]

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