BREAKING NEWS! has been acquired by VC firm Morningstar Ventures. Read More

$1.03 5.04%
XRP · 229w

Open Letter to Brian Armstrong

Dear Brian Armstrong,

Greetings!  I’m an owner of XRP, the token that Ripple uses as a bridge asset for cross-currency conversion of payments.

I’m a Customer of Coinbase

I have a Coinbase account, and I’m a citizen of the United States.  While I used to actively trade in Bitcoin back when I first was learning about crypto-currency back in 2013, I progressed quickly to other coins such as Peercoin, and then eventually to XRP.

I am an avid fan of XRP, and I’m excited for what this digital asset can do for cross-border transfers of value for banks and other financial institutions.  While Ripple’s target market for Ripple technology and the XRP Ledger is banks and financial institutions, they also need active ForEx trading of their bridge currency asset, XRP.  Active trading supports needed liquidity, and the number of ForEx and Crypto-currency traders that trade in XRP has risen substantially in the past year.  Because of XRP’s rising demand, many international crypto exchanges now support XRP trading worldwide. 1

However, despite this progress with many international exchanges, there are still very limited options here in the United States. 2

That’s where Coinbase exists as an option for those of us based here in the US.  Even though Coinbase doesn’t have direct support for XRP, it’s a way for US Customers to transfer value into the crypto universe.  Users can proceed through KYC procedures and then link their credit card or bank account directly, which is very convenient and fast.

I use Coinbase because of this convenience, and tolerated the fact that I then had to transfer Bitcoin to other exchanges, thinking that “Someday Coinbase will offer direct support of XRP.”

I Want to Remain a Customer of Coinbase

Recently, I learned that Coinbase added support for Litecoin. 3  I was shocked by this, because Litecoin is less than one-third as popular worldwide as XRP. 4  This relative size is reflected in t...

Continue on
Recent news
No posts found