NewtonsOyster Posted May 7, 2017 Share Posted May 7, 2017 Hi, Newbie question on Gatehub and XRP. Please go easy on me! With BTC there are several sites where I can buy and sell using UK bank transfer (and store in a desktop wallet.) I signed up to Gatehub, and I can find several places to purchase XRP using UK bank transfer but not sell (unless I am missing something). And I guess if I purchase via those sites and I use my gatehub Ripple wallet address they will be stored there? Where I am a little confused is in cashing out XRP from Gatehub to my UK bank. I understand that Gatehub has no option to transfer direct to GBP/a UK bank, so what is the best option? Should I transfer/trade/exchange (whatever it is called!) the XRP to BTC within gatehub and then sell those BTC using the above mentioned sites. If so how do I do this? Or do I cash out to USD or EUR, and if so can I provide my UK bank details to do this. Who sets the USD/EUR to GBP rate in this case and what would be the cost? Again, apologies for the newbie questions, and many thanks in advance for any replies. Newt Link to comment Share on other sites More sharing options...
NewtonsOyster Posted May 7, 2017 Author Share Posted May 7, 2017 Many thanks papa. I had read that but the guide is focused on purchasing. I guess you are implying that selling is the same, although it's not immediately clear. So, basically, for purchasing through Gatehub I am stuck with SEPA transfers in EUR, which incurr charges....to a UK company! Then into XRP. And in reverse obviously for selling! I can avoid all that for purchasing using other companies that use the UK faster payment system to do immediate free GBP transfers (less than 10 minutes). I do this for BTC and I can place an order, do the bank transfer online, and see the currency in my desktop wallet within minutes. Less than five minutes end-to-end and without keeping GBP anywhere other than in my own UK bank account. Selling is much the same. It's a shame as it looks like, at present, selling my XRP will be much more complicated. Thanks again Newt Link to comment Share on other sites More sharing options...
kizloc Posted May 16, 2017 Share Posted May 16, 2017 (edited) The Idea of Ripple as the bridging currency but unable to convert/trade to GBP £ is stupid, Gatehub need to make this a option in their wallets. Edited May 16, 2017 by kizloc Link to comment Share on other sites More sharing options...
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