Up until this point, there has not been a peer-to-peer XRP marketplace. There has not been any significant need for such a service either. However, that situation will come to change in the coming weeks. It is rumored a new P2P XRP marketplace will launch, which supports all payment methods one can think of. This is an interesting initiative, to say the least.
A Peer-to-peer XRP Buying and Selling Platform
It is always good to see community members launch new initiatives. Up until this point, a lot of people struggle to buy XRP. That is rather strange, considering multiple exchange platforms provide a conversion from fiat currency. Companies such as Bitstamp even accept credit card payments, which is quite nice. Plus, so many trading platforms are now trading XRP against Bitcoin and other currencies as well.
This new peer-to-peer marketplace will introduce additional payment options. It appears buyers and sellers can accept any payment method they please. Even Western Union, gift cards, and potentially PayPal will be supported. This new platform should help XRP gain more visibility and improve overall liquidity across multiple exchanges. Right now, the majority of trading is occurring on Poloniex, which only fuels price manipulation and speculation more than anything else.
According to the latest information, this peer-to-peer XRP marketplace is scheduled to launch in two weeks from now. Do keep in mind this date is always subject to change pending any technological setbacks. Moreover, it does not appear this platform is officially endorsed by the Ripple team, although that doesn’t make it less legitimate. Given the wide range of supported payment methods, it can become a great addition to the list of companies providing XRP liquidity.
In the end, this service is designed to make XRP more accessible. Right now, a lot of traders need to buy Bitcoin first and convert it to the digital asset. This P2P marketplace will cut out this intermediary step and provide a direct service. We will keep a close eye on further announcements regarding this platform and keep our readers informed accordingly. It does appear the company will be registered in the United Kingdom, but that is about all we know at this time.
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