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A couple of days ago I noticed two new cryptocurrencies supported by Coins.ph mobile wallet. I was really pleasantly surprised by this development as the two cryptos gave me a lot more flexibility in receiving and sending out cryptocurrencies. The two new cryptocurrencies are Bitcoin Cash (BCH) and Ripple (XRP). I was not really surprised by the inclusion of BCH as it was already been announced several weeks ago on Coins.ph's blog site, but for XRP to be included is just awesome. If you don't know what cryptocurrencies are a quick search in STEEMIT might be able to help you in this regard or even Google if you are old-school.
New Ripple Logo
I will discuss the merits of Bitcoin Cash on another blog-post but for now I want your full attention on XRP or Ripple as this will make remittances of people earning STEEM a whole lot faster and Cheaper to send to your payment processor which in my case Coins.ph. Of course the best option is still having Coins.ph to natively support STEEM currencies. However, as of the moment, I think the priority of Coins.ph is to just support the more popular cryptos which are typically with the highest market capitalization. Hence Bitcoin BTC, Ethereum ETH, Ripple XRP and Bitcoin Cash (BCH) are the first ones that Coins.ph is supporting. I am guessing there will be more cryptocurrencies to be supported in the future and I have a good hunch it will be Ethereum Classic, Litecoin and Stellar as these are the cryptocurrencies (including the already supported crypto at Coins.ph) that were legitimized by the Thai government, a country where Coins.ph also operates.
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What makes XRP so impressive is that fact that it is really fast in sending and receiving money. It is also probably the cheapest among cryptocurrencies that requires payment when sending money. In fact a lot of remittance companies in the world is already using it as its primary network for sending and receiving currency. One of the first one to use this is MoneyGram which has recently partnered with Gcash. Moreover from what have heard they have partnered with many banks all over the world.
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To test how much it will cost I moved about 100 XRP from an Exchange to my Coins.ph wallet. Guess what? It only cost me PHP 6.00 Philippine PESOS (PHP) to move around PHP 2,500 worth of Crypto. The coolest part is it cost the same even if you move PHP 250 or PHP 250,000. Awesome right?! Knowing this fact and having the Ripple available in your Coins.ph wallet will give as a whole lot of savings. This is a huge deal given the fact that STEEM and SBD are both going down in value. Anything that will make us save money when moving our crypto around is always a welcome proposition. Oh by the way that is NOT the cheapest way to move XRP to Coins.ph as I was writing this article I discovered even a cheaper exchange that you can use to convert STEEM to Ripple and then send to Coins.ph Only PHP 3.00 Pesos more or less. Are you Interested where? Please Register here you will need an account at this exchange to be able to get the best withdrawal rates for Ripple.
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That is it for now guys I hope you guys found this blog-post helpful especially to those who are looking for the best rates on how to move your STEEM and withdraw from Exchanges to your preferred payment processor. Have a nice day guys and as always happy Ulogging!!!
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