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FXChoice adding XRP

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The timing is interesting, but I do have one question...

Isn't the real money in Forex not being listed as a possible trading option but in being the underlying gateway/infrastructure for the trading?  Where is that news?

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I´m not into Forex, can anyone explain if that really raises demand and where can that volume be seen? Especially when it comes to calculating the valuation of xrp. Guess no fx on CMC, so will it impact any MC? If so I guess the only reliable info on this will be Ripple´s website metrics.

Jeeez, not my world.

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Forex is high volume and is a legit secure market that's already institutionalized. The real value is if they use XRP in their day to day bridge trading and not just buying and holding. If XRP sources buys and sells for banks this becomes a huge node for traffic and builds liquidity. 

The 5.1 trillion is nice and all but it's the volume that's the big deal here until the liquidity is big enough to run the billions through a transaction. Highly active market exchanges compared to our little crypto world ones. 

If it's like Japan good luck finding the volume. Above top secret seems to be the Ripple approach to volume. 

Edited by keybordem

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If i'm correct, it's possible to trade fiat to XRP and the other way around?
It's not like XRP is used as a corridor to trade between fiats for faster settlement?

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Not yet. Someone reached out to them and they are exploring it possibly for later but for now it's just normal buy and sell exchange type deal.

With that said there's now two Forex companies and SBI looking into using it in daily forex operations so fingers crossed. 

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I had a couple of questions for them and to their credit, they did get back to me quickly. I didn't have time this morning to read the previous posts, so this may have already been discussed. They seem a little dodgy.  

2018-09-28 09:05:01

Hello Deez,

 

Thank you for your email.

 

We would be more than happy to clear things up.

 

First of all, that's correct that Ripple is a crypto-currency platform and the currency is called XRP (Ripple Coin). Please note that we do not offer it for trading but as funding method. 

 

Secondly, as XRP is one of the funding method, there are some deposit and withdrawal fees in general. For deposit using XRP, we do not charge any fees, but the payment system does. XRP transactions are subject to a 0.5 % fee.

 

We hope this has addressed your question and please feel free to contact us back if you have any further question.

 

Best regards,

 

The FXChoice Team

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