ok so today i made an attempt at funding my btc-trader e-wallet using ripple. I had $19 worth of btc there and wanted to use XRP to complete to $20 in order to purchase a new trading share
pro: transfer is immediate. After a few seconds the xrp transfer was confirmed in my ripple wallet. And it was instantaneously credited to my btc-trader e-wallet. That's pretty cool compared to the time it takes on the btc network
con: unfortunately i discovered that you cannot combine $19 of btc and $2 of xrp to buy a single trading share. It looks like each currency is segregated and you can purchase trading shares only from 1 sub-e-wallet at a time. That SUCKS!
I wrote to their support line to get clarification on this as it does not really make sense to me given that at the end of the day they convert everything back in USD for the purpose of doing your account accounting.
On top of it the ripple protocol allows in principle to send to them not only XRP but also BTC, USD etc... so if really they want to segregate currencies they should at least let a ripple user decide which currency to send them and credit it to the appropriate wallet! I could perfectly have sent them $2 worth of BTC or even just USD directly from my ripple wallet had they given me the opportunity to do so!
anyways, that's just to give a heads up to anyone who might be interested in using those new funding solution for btc-trader
[EDIT] sounds like i was a bit sleepy yesterday. Several people indicated to me that there's a free built-in currency converter to transfer funds from one part of the wallet to another. So contrary to my stupid comment it does not suck at all
thanks folks!
pro: transfer is immediate. After a few seconds the xrp transfer was confirmed in my ripple wallet. And it was instantaneously credited to my btc-trader e-wallet. That's pretty cool compared to the time it takes on the btc network
con: unfortunately i discovered that you cannot combine $19 of btc and $2 of xrp to buy a single trading share. It looks like each currency is segregated and you can purchase trading shares only from 1 sub-e-wallet at a time. That SUCKS!
I wrote to their support line to get clarification on this as it does not really make sense to me given that at the end of the day they convert everything back in USD for the purpose of doing your account accounting.
On top of it the ripple protocol allows in principle to send to them not only XRP but also BTC, USD etc... so if really they want to segregate currencies they should at least let a ripple user decide which currency to send them and credit it to the appropriate wallet! I could perfectly have sent them $2 worth of BTC or even just USD directly from my ripple wallet had they given me the opportunity to do so!
anyways, that's just to give a heads up to anyone who might be interested in using those new funding solution for btc-trader
[EDIT] sounds like i was a bit sleepy yesterday. Several people indicated to me that there's a free built-in currency converter to transfer funds from one part of the wallet to another. So contrary to my stupid comment it does not suck at all
thanks folks!