Ripple (XRP) is one of the most exciting cryptocurrencies currently in the market. It is the third largest cryptocurrencies with a market cap of over $ 50 billion and has had a staggering return of more than 21,000% in the last one year.
If you’re looking for a simple way to purchase Ripple in the Middle East, BitOasis has just announced on their blog (blog.bitoasis.net) that they are launching it on their platform. Here’s what they posted:
“We are excited to announce to all our customers the debut of Ripple (XRP) trading on the BitOasis digital asset trading exchange. BitOasis users will be able to make XRP transactions beginning on Tuesday, January 30, 2018, with 0% fees during the introductory period. Users will be able to place buy and sell limit and market orders with AED through wire deposits or credit card payments. New customers can also submit an account verification until 23:59 UTC on Jan. 30th to make sure they can deposit and trade using higher limits.
We’ve decided to introduce XRP trading to meet the increased demand from our customers to add to the list of major cryptocurrencies and digital assets offered on our platform. As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy and sell Bitcoin, Ethereum and now, Ripple.”
If you are new to crypto and are looking to purchase Ripple, you can refer to our previous post for a step by step guide on purchasing cryptocurrencies through BitOasis HERE.
What is ripple?
Ripple was created by Ripple Labs in San Francisco in 2012. It is a payment network and according to Ripple Labs, “Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally,”
The network is capable of handling 1,000 transactions per second (50,000 off ledger), 24/7 and scale to handle the same capacity as Visa. This would mean that a company in Dubai could pay it’s supplier in Japan seamlessly and instantly using Ripple. The cost is minimal when compared to the present methods of money transfer. And the Chinese supplier can convert this Ripple to the Yen using the Ripple Gateway. Ripple would reduce the transfer fees by as much as 60%.
This is one of the few blockchain projects that is already being used in the real world. There are more than 75+ banks and money transfer companies currently using the Ripple network. These include massive names such as Standard Chartered, Bank of America, UBS and Moneygram. Even UAE based RAK Bank has announced that they will be using Ripple for their cross border payements.
It seems like one of the more interesting and promising cryptocurrencies out there, and we look forward to what they will be able to achieve the coming year!
Please also note that this is not investment advice, and we always urge our readers to do your own research before investing your money in any project!