A platform that is designed to allow users to convert their fiat into XRP with low fees and without the need for an exchange could launch soon. Wietse Wind, who is an XRP programmer, launched the beta version of the XParrot platform recently. The platform now operates on an invite-only basis. To use, you will only enter your wallet address. You can then wire the money you want to convert into the platform’s account. The fiat is converted to XRP tokens and deposited into the wallet address.
XRParrot, created by XRP enthusiast, Wieste Wind who also created XRP Tip Bot has finally unveiled the site of XRParrot that until now has been showing a coming soon sign. The $19 billion market cap cryptocurrency is gaining huge support from exchanges and other establishments as they add support for XRP.
Beta users claim that the whole process is done in just a few hours. The fee is quite low at just one EUR. One user said that you place your wallet address and wire money to the account. A confirmation code is sent to your number once transactions are processed. He even posted an image of the confirmation message.
According to the website, it is registered as an official business in the Netherlands. XRParrot is created with the purpose to make it easier for people in Europe (with an IBAN bank account) to acquire XRP.
As for the fees, it states, “After receiving your funds 0.5% with a minimum of €1 will be charged. The remaining amount will be exchanged and sent to your XRP destination account.” The FAQs section of the website provides more information on related matters.
Liquidity gets a Huge Boost
In the past few days, a flurry of cryptocurrency exchanges from all over the world has been adding XRP to their platform.
XRP is slowly making its way in the Thailand market as just a few days back, Thailand-based exchange, TOK supported XRP/BTC pair and now Bangkok-based Bitkub is adding 2nd largest crypto to its platform that for now has only six cryptos.