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solow13

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Posts posted by solow13

  1. Oh well, it’s not really backed by banks. It will be when all the banks decide to start using it as a unified bank currency instead of processing redundant currency exchanges.

    For now only 7 banks using ripple. And to highlight they using ripple as a platform for real money transactions but not token.

    And on top of that Ripple cannot be bought with fiat currencies, one must purchase existing cryptocurrencies such as Bitcoin and Ethereum to purchase XRP.

    They do show a good potential but still very far from being “backed” and supported by bankers in the same way as dollar for example.

    But again I’m not an expert in cryptocurrencies and happy to be proved wrong.

    Yes there are banks that already use xrapid and xrp and yes you can buy xrp with fiat on coinbase for example.

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  2. No cryptocurrencies supported or backed by banks and most likely never will. (Well maybe only etherium but it’s only speculation and China even manipulated its cost through news)

    Anyway as @jonbaas already said cryptocurrency is super unstable and more on the side of trading and investments rather than payment options.

    Actually Ripple xrp is backed by the banks and its not the only crypto involved with banks, arp is already used by banks to transfer fiat form country to country easily and without paying a lot of commissions.

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