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Author Topic: Direct Sending of Coins to another Coin Wallet.  (Read 306 times)
Reatim (OP)
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July 24, 2021, 02:57:22 AM
Merited by CryptopreneurBrainboss (1)
 #1

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?









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July 24, 2021, 03:04:08 AM
 #2

Such thing is really possible and is definitely great UX, though as far as I know (correct me if I'm wrong here, technically gifted people), a good amount of centralization is going to be needed from both parties(sender and receiver) to pull this off; which is something you shouldn't want.

I hope this is possible to do in a non-custodial manner though.

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July 24, 2021, 06:29:32 AM
Merited by CryptopreneurBrainboss (1)
 #3

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
If you mean from one central platform to another, it is easy, almost all centralized platforms receive money from you, check it and then update the database with those balances, it does not matter if they update Bitcoin or ETH database.

With regard to wallets, this can be done with decentralized platforms. In this case, the protocols need to talk to each other, something that has not happened so far, but if it happens and the fees are low, it is possible to send a currency to any wallet and the smart contract directly converts it to another currency without the need to exchange that currency first.

In general, what is the benefit of that, if the fees are low, the transfer will be easy.
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July 24, 2021, 07:06:44 AM
 #4

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

If you're expecting that there's a merging of both ripple and erc20 network, I guess that's not possible for now. You need to first trade your eth first before we can send xrp to our personal wallet, you can just buy ripple using your eth balance. There's binance trading site that we can use in exchange on our ethereum in order for us to  purchase xrp coins.
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July 24, 2021, 08:48:05 AM
Merited by Reatim (1)
 #5

These are already possible with some of this Defi exchanges, it's more like swapping. When I was promoting the Gold stablecoin project in the past I sent them their erc20 token every month and they gave me Bitcoin almost instantly (depending on the network congestion) that's because I inputting my BTC address when initiating that trade. If such feature was to be developed in a wallet then what you describe would be possible.

With centralized wallet that feature can be easily implemented, they just have to build something like a swapping protocol that you just have Indicate you want to recieve ripple equivalent to your ethereum deposit that'll be coming in and when your deposit gets confirmed, the system automatically trade it for you and gives you ripple.

Probably they'll charge you some fees for the trading they are to excute on your behalf but if want you want is achieved I believe the fees will be worth it. Atleast it'll save the time of first exchanging to you interested coin before now sending to the wallet.

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July 24, 2021, 02:21:19 PM
 #6

Direct chain to chain is likely impossible unless you're fine with atomic swap or something similar. Some projects issue different versions of tokens to tackle this issue. It's obviously not as flexible as your ideal condition is, but it's there.

Atomic swap should be good enough in the near future, so you don't have to rely on a third party to swap your tokens asap.

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July 24, 2021, 10:18:14 PM
 #7

Technically this is not feasible. You can't send a coin from your wallet and receive a totally different coin on another wallet without going through a third party service (ie: exchange).
The third party service will take your coins, set the exchange rate then send the other coin to the recipient.

If such feature existed, then we wouldn't need all those exchanges.

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July 24, 2021, 10:22:53 PM
 #8

It still has go to through exchanges for it to be convertible into another cryptocurrency that the receiver wants to receive.

I know and understands it that it's not about exchanging it but that's the actual thing that will happen if someone does this type of transaction. But it's possible in the future, we will never know how the devs of such niche can do and make it happen.

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July 24, 2021, 10:30:22 PM
Last edit: July 24, 2021, 10:46:16 PM by goinmerry
 #9

I like that idea but where's the liquidity would came from? It's not the same as how swap exchanges work.

If ever an exchange, CEX or DEX, will support it, only a few trading pairs will be possible to convert automatically (not that techy but not that noob so need some enlightened on that part).
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July 24, 2021, 10:46:47 PM
 #10

Technically, on the non-custodial wallet, this is impossible to happen because each coin has its own blockchain network and they'd also have different wallets, so it means they're not compatible with each other.  All you have to do is to choose a costudial wallet or use third-party services such as exchange to swap your coin and send to it's perspective wallet.

If such feature existed, then we wouldn't need all those exchanges.
I tend to agree with, if this will exist in the future, there's no need for us to use exchange since we can easily swap our coin to another coin.

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July 24, 2021, 11:27:17 PM
 #11

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
How the Ethereum be Ripple if you don't do anything? It is impossible because the are different chains. The solution should be converting Etherum to Ripple first in your wallet, then send the Ripple to the receiver wallet. I think it is already quite simple, there is no need for another way. In my prespection, the current features in crypto wallets look great and they are always improved by the developers to adapt to future needs.


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July 24, 2021, 11:59:05 PM
 #12

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
So this one talks about crossplatform  which i dont see for it to be possible if it would be sent directly from wallet to wallet since its on different blockchain but if it would able to pass into some 3rd party wallet provider( which do currently have) then you would really be needing that conversion first.For now it isnt possible to see but it would be a great add up on that case.

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July 25, 2021, 02:37:45 AM
 #13

This is likely similar to the "bridge" term which is already in some altcoins now, that there is the capability to transfer from another blockchain network, they are almost similar but yeah as what others said, it is possible but I believe on some altcoins here specially built on some blockchain network that got limitation or blocker, it will be difficult or impossible to integrate.
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July 25, 2021, 02:53:54 AM
Last edit: July 25, 2021, 04:28:52 AM by Ararbermas
 #14

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
probably its possible to happen..but you know alot of stuff here im crypto space were getting easier especially when it comes trading different coins.. Infact there's a basic way to trade your ethereum to Ripple without using exchanges and that's through SWAP site using "wallet connect" if you want it to directly sent to your wallet and you are using trust wallet or metamask it will be better..
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July 25, 2021, 06:43:36 AM
Last edit: July 25, 2021, 12:01:54 PM by Reatim
 #15

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

In general, what is the benefit of that, if the fees are low, the transfer will be easy.
I think generally i am looking for the benefits like No sending of coins wrongly because I  also once a Victim of my own laziness  in which i send a different coin for different wallet though i am lucky that our wallet provider helped me back my funds.

But in general there are some post until now that experiencing this in which i believe that can be answered if what i am asking above can be possible in the future.

This is likely similar to the "bridge" term which is already in some altcoins now, that there is the capability to transfer from another blockchain network, they are almost similar but yeah as what others said, it is possible but I believe on some altcoins here specially built on some blockchain network that got limitation or blocker, it will be difficult or impossible to integrate.
Yeah I know what you are pointing mate though I'm asking for the totality of crypto currency since the main objective is to be used against Fiat in the future so having this then all transaction can be possible without the need for conversion .









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July 25, 2021, 03:46:55 PM
 #16

Still, you can do it from the instant exchange. Send them eth them and you will receive your desired coins. Isn't that? I mean you won't receive in ripple, but in exchange you have eth. If that exchange doesn't have ripple or you don't want to exchange from there then you may swap it from the instant exchange. If you are wondering to send cross-chain transactions then it's not possible or it will not possible in the future. Somehow coin should convert either by you or automatically by an exchange.

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July 25, 2021, 04:40:26 PM
 #17

Such thing is really possible and is definitely great UX, though as far as I know (correct me if I'm wrong here, technically gifted people), a good amount of centralization is going to be needed from both parties(sender and receiver) to pull this off; which is something you shouldn't want.

I hope this is possible to do in a non-custodial manner though.
As much as there hasn't been much need for that yet, I can see why some people would like to have this feature.

I suppose there needs to be enough incentive to provide this because as I can imagine this would require a conversion behind the scene say on the initial exchange before it hits the wallet address of the coin you want to receive it in. I'm not sure this would be as easy from crypto to fiat but crypto to crypto in theory could be done - it is a matter of practice and larger need.
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July 26, 2021, 04:18:22 PM
 #18

I doubt if such would exist because even in fiat currency exchange you still you still have to convert to the currency of the recipient before transactions. I doubt if there would be any thing of such for crypto currency because there are all built on different networks on the blockchain and only a few share the same network so it might never be possible

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July 27, 2021, 10:02:57 AM
 #19

Ive used coinswitch in a particular site ( a gambling site that has coibswitch enabled on it) . That will automatically convert your coin (eth) and arrive another coin (xrp) to your wallet. The fees are decent and usual and transaction speed is also normal.

You can check this out and see how that thing works for converting coins and sent directly to your wallet.
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July 28, 2021, 07:40:42 AM
 #20

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?
You mean like swap automatically. Mostly mentioned is an exchange since for now this is the only way you can directly received it since you need to swap first it to the coin you desire. Its not hard actually cause exchange designed like that and even swap dex works like that. If you noticed uniswap you can directly swap a coin to another one even without a pair liquidity for that coin cause uniswap automated the process for you.

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July 28, 2021, 08:08:43 AM
 #21

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
The closest solution I have seen to what you have described is using domain based wallets like unstoppable domains  or fio.

The idea behind these is you don't really need to send coins to your buddy's ripple wallet like you would normally do,
all you need is their domain address like satoshinaks@fio and they receive their coins and he or she will convert them to whichever coin they need.
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July 28, 2021, 09:37:22 AM
 #22

...Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

I have not yet met such a cryptocurrency exchange on which the transaction described by you would be available. This type of transaction is implemented by the exchange FTX.com only for stablecoins other than USDT. Thus, having BUSD on your account, you can send them and receive them on another USDC exchange.

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July 30, 2021, 03:21:43 AM
 #23

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
The closest solution I have seen to what you have described is using domain based wallets like unstoppable domains  or fio.

The idea behind these is you don't really need to send coins to your buddy's ripple wallet like you would normally do,
all you need is their domain address like satoshinaks@fio and they receive their coins and he or she will convert them to whichever coin they need.
really ? have you tried using this system mate? i mean is this safe and legit? and do you know others that uses this without any issues at all? that's why i am looking if exchange may consider this because they ae the most trusted place for me specially Binance in which i have been using for years constantly and brings me no issue at all.

...Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

I have not yet met such a cryptocurrency exchange on which the transaction described by you would be available. This type of transaction is implemented by the exchange FTX.com only for stablecoins other than USDT. Thus, having BUSD on your account, you can send them and receive them on another USDC exchange.
ohh , well stable coin are the safes i guess so i have no problem using this  one in the future but what i am concerning now is somewhat exchange or wallets.









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July 30, 2021, 09:43:22 AM
 #24

...Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

I have not yet met such a cryptocurrency exchange on which the transaction described by you would be available. This type of transaction is implemented by the exchange FTX.com only for stablecoins other than USDT. Thus, having BUSD on your account, you can send them and receive them on another USDC exchange.

I have heard/read about this type of transfer, but I don't think it's ever possible for an exchange. Some casinos I believe do this type where you deposit in one crypto and receive in fiat or other crypto, without exchanging but the spread they charge is worse than the exchange fee/commission. So I would even rather say just do the exchange first takes you 5 seconds:)

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July 30, 2021, 04:08:11 PM
 #25

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
Such kind of thing really need centralization and going to work like exchange with extra bit of fee for better convenience or literally there is no way to receive bitcoin when you send an altcoin because both are from completely different exchange and the valuation of 1 btc = 1 btc = ripple? Only exchange can decide that value.

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June 16, 2023, 12:28:59 AM
 #26

If you are wondering to send cross-chain transactions then it's not possible or it will not possible in the future. Somehow coin should convert either by you or automatically by an exchange.
actually I was wondering this and yes I know that it is impossible but still hoping that someday(at least in the near future that this will come  to reality)

Bumping the thread for more accurate and reliable answer as I believe many of us wanted this to less the hassle of trading.

and also Swapping nowadays has high fee (at least to those i have tried )

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
Such kind of thing really need centralization and going to work like exchange with extra bit of fee for better convenience or literally there is no way to receive bitcoin when you send an altcoin because both are from completely different exchange and the valuation of 1 btc = 1 btc = ripple? Only exchange can decide that value.
Yeah I don't care if it is centralized or decentralized but at least if this is possible in some way in the future.









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June 16, 2023, 01:27:18 PM
 #27

It is possible.

I mean, one of our local exchange did something like that in their app old version in which there's a PHP address that if you send Bitcoin to that address, your Bitcoin will be directly converted into PHP. So I think it is possible to merge two or more networks and set some conditions to make that works, it's 2023 and the technology is so amazing than before. 
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June 16, 2023, 02:32:59 PM
 #28

This can be only possible as of now through exchanges who automatically converts the coin to your desired one, and send you the required coins. They take some amount as conversion fees and send the rest coins. I don’t remember the site names, but few years ago, many sites were providing this service. Technically without spending any conversion fees, currently you can’t do the desired task, and yes it will be very hard to implement the feature that you have mentioned in the OP.

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June 16, 2023, 03:23:22 PM
 #29

This can be only possible as of now through exchanges who automatically converts the coin to your desired one, and send you the required coins. They take some amount as conversion fees and send the rest coins. I don’t remember the site names, but few years ago, many sites were providing this service. Technically without spending any conversion fees, currently you can’t do the desired task, and yes it will be very hard to implement the feature that you have mentioned in the OP.

I haven't found an exchange that can do that but I think some online casinos do. But in the future, I think some centralized exchanges might adopt this even if they have to change it manually for whatever altcoin you want to withdraw. But I tend to think that if withdrawal fees are cheap enough, then I'm much more comfortable withdrawing coins and transferring them to another wallet instead of converting them to the coin of choice.

While a feature like this might help some exchange users, but I guess they must have to pay more fee before the coins they want are transferred to their wallet. I mean conversion fees + withdrawal fees.

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June 16, 2023, 09:49:21 PM
 #30

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
Cant really think off on such platform on which this one would really be making use of bridges and having those instant swap services because making up some direct conversion to a specific coin of your choice
then its really a great concept and bring out some huge convenience which im sure that once this project would come out in the market. It would definitely blow up like hell. So far im aware with some new project which is currently on Public sale as of this moment which is https://www.l1x.foundation/ or simply talking about LayerOneX. This is a project that do kills out bridges on which making up transactions from EVM to non-EVM
chain which this is something revolutionary. Im not affiliated nor part of the team but this had just recently caught up my attention.

R


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Fivestar4everMVP
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June 16, 2023, 10:19:24 PM
 #31

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
I got to understand what you actually meant by the example you shared..

Anyways, it's very possible, infact , I think there's been some platform, though not particularly an exchange, where such transfers was possible, I can't really remember the name now but I think the platform is no more..

But altogether, the idea is very viable, and I believe that in the future, exchanges could possibly implement such a feature, won't be much of a hassle since I think it just involves automatic background swapping of the coins in the wallet to the receiving coins, the send the coins to the users wallet.. It's a yes for me, its very possible to see such a feature in the near future.

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tjtonmoy
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June 27, 2023, 08:16:13 PM
 #32

So the post is about auto conversion of your assets? Instead of selling what you have for what you want to send/receive on the other wallet, you
want the platform to do it for you, right? I have no idea about this if they exist or not, but it is possible. This kind of similar concept can be seen in the Binance exchange. But it only works with BNB and Binance pay options. If you want to send some BNB but your account does not have enough balance, it will suggest that you convert other existing assets to BNB. This looks similar concept to me and could be done with other assets and automated with some tweaks.
But I have no idea about decentralized platforms. Centralized exchanges only show a number in your account, and only you own your assets when you withdraw them to your personal wallet. So the owner can change the value and coins according to your need. Which can not be accomplished in decentralized platforms. But you can make your personal bot do that for you. As that is a complex process, I am not going to say anything about it.
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June 27, 2023, 08:41:42 PM
 #33

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

This is such a good initiative but i think its too complicated to be achieved in a wallet to wallet basis; this is why we have bridgers, we have dapp platforms that assists in stuffs like cross bridging amongst other.

I think the easily achievable ones are you converting your tokens in your wallet to your preffered choice.
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June 27, 2023, 10:37:41 PM
 #34

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
Do you know while you have to convert your to that particular coin you want to before sending it to the appropriate wallet, is that both of the coins is not of same project and technology,  that is why every coin have its personal wallet to be precise, so therefore I believe that bitcoin wallet can not match with litecoin wallet and if you send the coin from bitcoin to litecoin I think you will misplace your coin if I'm not mistaken.

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June 27, 2023, 10:54:43 PM
 #35

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
i think its too complicated to be achieved in a wallet to wallet basis; this is why we have bridgers, we have dapp platforms that assists in stuffs like cross bridging amongst other.
It's not realistic, but it's possible in another way. If you're simply using the same wallet, it's possible, but it relies on the wallet's owner if he or she intends to do so, because I believe we can't use a same blockchain that takes several coins, such as sending Matic and receiving XRP instantly without any fee.

The concept is similar to P2P exchange, where you may instantaneously obtain local cash for whatever currency you want based on the value. I believe the developers have to understand this concept in order to make what Op stated possible.

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June 27, 2023, 11:02:47 PM
Last edit: June 27, 2023, 11:26:38 PM by AmoreJaz
 #36

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
i think its too complicated to be achieved in a wallet to wallet basis; this is why we have bridgers, we have dapp platforms that assists in stuffs like cross bridging amongst other.
It's not realistic, but it's possible in another way. If you're simply using the same wallet, it's possible, but it relies on the wallet's owner if he or she intends to do so, because I believe we can't use a same blockchain that takes several coins, such as sending Matic and receiving XRP instantly without any fee.

The concept is similar to P2P exchange, where you may instantaneously obtain local cash for whatever currency you want based on the value. I believe the developers have to understand this concept in order to make what Op stated possible.

definitely, it will cost you something but if the OP wants a direct transfer, right now, it is not yet possible as you need to go thru the networks it belonged to. or it may be a third party wallet where you can receive the amount like for example your coin equivalent to usdt and then just choose which coin you want to exchange with. for now, it is not yet possible, but we can't say that it won't happen, because what we see in this market is that everything is possible. technology is getting sophisticated so maybe somebody in the future can create such route.

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June 28, 2023, 09:40:52 AM
 #37

You mean decentralized exchange based on smart contracts so that coins can be sent directly. It is something that all DEXs dream of and has not yet been achieved between different blockchains because the need of centralized liquidity pool. The reason for that is that you need a centralized or distributed system to provide liquidity, which is the real problem so far.

If these ideas succeed, and they are something that is currently impossible, then all other central platforms will be more like banks, as they enable you to withdraw crypto to fiat money and vice versa.
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June 29, 2023, 02:59:42 AM
 #38

You mean decentralized exchange based on smart contracts so that coins can be sent directly. It is something that all DEXs dream of and has not yet been achieved between different blockchains because the need of centralized liquidity pool. The reason for that is that you need a centralized or distributed system to provide liquidity, which is the real problem so far.
I guess OP meant more about cross-chain swaps but with current blockchain technology, it is risky. Weeks ago, a very famous chain bridge Multichain was exploited and had to halt their bridge operations. Since 2020, there are good development and growth of cross-chain bridges but we also witnessed many hacks on those bridges.

When bridge hacks happen, tokens on derivative chains, not their initial chains, can be de-pegged seriously and no one will save you if you store your tokens on derivative blockchains, not on their initial chains.

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If these ideas succeed, and they are something that is currently impossible, then all other central platforms will be more like banks, as they enable you to withdraw crypto to fiat money and vice versa.
Some platforms provide on-ramp and off-ramp trading services.

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June 29, 2023, 10:47:34 AM
 #39


I guess OP meant more about cross-chain swaps but with current blockchain technology, it is risky. Weeks ago, a very famous chain bridge Multichain was exploited and had to halt their bridge operations. Since 2020, there are good development and growth of cross-chain bridges but we also witnessed many hacks on those bridges.

What bridges do now is not cross-chain swaps, but rather centralized smart contracts where you deposit in a specific blockchain and inside the bridge your deposit is locked and encapsulated as a Wtoken like WBTC in another blockchain and so on, when you withdraw the bridge unwrappes these tokens.
The mechanism is good and takes place without central database, but it is centralized and needs a pool to ensure the availability of liquidity. Hence, we hear the term “hacking bridges” and we have not heard the term “hacking the blockchain”, which will not happen if the platform is cross-chain swaps.

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June 29, 2023, 11:23:52 AM
 #40

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?
Maybe in the near future we can see platform that will do what you want but for now i think there is no such thing,because for now we still need to covert first before sending but and there is no platform that approve sending eth and recieved ripple directly.but this is not a big issue or problem because there are a lot of exchange or do swapping or you can trade it and do what you want.


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June 30, 2023, 04:58:32 PM
 #41

I have been in the crypto world for over 10 years and I still worry about this when I do it. This is why I still send like 10 bucks first to see if they actually receive it, and if  they do then I send it, aside from that I do not do it and I do not send huge amounts neither, I always put them in smaller instalments and send one by one instead.

Once in my life I had to send someone's 100k somewhere, that was the biggest money I ever had and if I stole that money I would have lived all my life with it in my nation, I didn't of course because I am not a thief, and I sent it 1k per 1k for 100 times instead of doing 100k all day long, took me 3 hours and nearly 500 dollars in fees just to do that, but I wanted to make sure and didn't want to be blamed.

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June 30, 2023, 06:31:27 PM
 #42

I don't sure has option with direct sending of coin to another coin wallet without swap or convert early, out our expectation because looks impossible want to get ripple coins by sending ethereum coin. All exchange have service with convert automatically and we need to swap first or trade based on which one coin want o convert. Its beneficial for exchange getting some fees due convert coins directly and looks they won't give this service by free when sending coin and become other coins receiving in our wallet.

I don't think its good ideas exactly when converting with coin has different network chain between first coin having and coins want received in our wallet.

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