I am hoping that some of you can help me out on this question. I’m hoping that someone knows the answer to this simple question.
One of my friends recently got into crypto, and I would like him to invest all of his money in his new found love, so he needs somewhere to put it, but doesn’t want BTC or anything crazy… I don’t think there is an exchange where he can actually buy something with ripple directly (buying LTC over USD doesn’t really work for him obviously), so I suggested buying XRP with BTC, transferring him the ripple on binance, then selling back his bitcoin at one point whenever he wants/needs it.
This way he can easily avoid having to deal with any sweeping regulations or wild cryptocurrency price fluctuations if they happen long term. It’s entirely up to him if he wants to convert the ripple back into USD every now and again as well as dump half his cash into trading it or whatever else is fun.
He told me around 2% markup on global markets is fine for this transaction… Does anyone know what XRP market cap is? How many XRPs are “in circulation” right now? Are any other assets backed by Ripple possible in the future beyond just ripples? Am I somehow confusing this question with another misshelved topic about how much an alternative might be worth – sorry! One last thing – is Rippe a real company? Is there some kind