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I am assuming that banks will have accounts created in local crypto exchanges which trade xrp. Let’s say bank A in the US uses xRapid to move $1bn to a bank B in Japan. Please enlighten me on Bank A needs to have $1bn in its cash wallet in its account in the exchange Buy xrp worth $1bn and send it to bank B’s xrp wallet. Bank B will convert that xrp to Japanese Yen and that cash will be in the cash wallet in its account in a local exchange in Japan. Now Bank A and B both are subjective to exchange fees in their exchanges right ? And Both banks are restricted by the amount of cash or fiat currency they can deposit or withdraw right ? Maybe the settlement is done within 3 seconds which is the time taken to send xrp from one address to another but the amount of time taken to withdraw or deposit money from an exchange is still a problem isn’t it ?
Hi - I'm new to Crypto and I'm using Coinbase to buy Bitcoin. I'm then sending it to my Gatehub wallet and then exchanging for XRP. I noticed that during this exchange the fee was 20%. WOW. Is there a better/cheaper option? Is it better to buy XRP with other Crypto such as ETH or LTC? Any help/feedback would be appreciated. Thanks.