Alexa

CRYPTOCURRENCY

MoneyGram Using XRP More Profitably Than Facebook’s Libra: Ripple CEO

MoneyGram Using XRP More Profitably Than Facebook’s Libra: Ripple CEO
The Siliconreview
01 March, 2021

Affiliations between companies are expected to lead to more profitable returns for both parties. When Brad Garlinghouse, the head of Ripple, entered into a deal worth about $30 million with MoneyGram, the only logical possibility was Ripple’s unprecedented growth. In fact, experts predicted a return of $20 million in two years — which was feasible.

This article will help you decide whether to convert Ripple to Bitcoin by assessing the impacts of the MoneyGram association and looking at what the future of Ripple may be.

Understanding the Variables Involved in the Ripple-MoneyGram Relationship and Its Aftermath

Ripple was one of “those coins” in 2019, although this didn’t mean it was worthless. However, the company wanted more — and so the news of a big partnership with MoneyGram was soon announced. This caused some excitement, and xRapid recorded increased transaction volumes even before the deal was finalized.

Following the deal, XRP also recorded impressive growth, both in price and transaction volumes. A happy ending, surely?

The Big Crash

Joy had a slender body that broke too easily for XRP; the ending of 2020 came with a lawsuit filed by the US Securities and Exchange Commission. The allegation was that Ripple transacted a $1.3 billion unregistered securities offering.

As expected, there were some harsh consequences:

  • XRP was banned by some crypto exchange platforms.
  • Some platforms warned their users of potential risks in holding the coin.

With these developments, to convert Ripple to Bitcoin or not became a prominent consideration. Some users could not discard the coin because it had already shown improved, upward movements in January 2021 and was still accepted on some crypto platforms.

Is XRP Worth Your Cash Now?

Pros

  • The price of XRP is comparatively low now, so investing in it won’t cost much.
  • Buying Ripple products will have a beneficial effect on the nation’s economy.
  • XRP has a fairly large market cap rate.

Cons

  • The supply of XRP is limited.
  • The coin does not use a decentralized system of operation.
  • A significant part of XRP shares is owned by Ripple, which is now embroiled in a lawsuit with a US commission.

Steps to Convert Ripple to Bitcoin

Converting your XRP to BTC has to be done on legitimate platforms, such as Godex.io. The steps to follow are:

  • Select currency (XRP in this case).                                                                         image
  • Enter wallet address.                                                                                            image
  • Wait for your deposit to be confirmed.                                                                    image
  • Complete your exchange.

Postscript

Ripple is a digital-payment processing company commonly associated with the coin XRP, since it’s the most significant shareholder. The company experienced major growth following its collaboration with MoneyGram and was in a good position — until the US SEC alleged it of fraud.

Should you find that you’re uncomfortable with this allegation and wish to change your Ripple to Bitcoin, you can do so at Godex.io.

image