It’s pretty common to see Bitcoin compared to FIAT and XRP compared to FIAT in the argument over which is the best for the facilitation of money transfer, however it’s pretty rare that we see XRP compared with both Bitcoin and FIAT at the same time. This is because XRP isn’t really considered a direct competitor to Bitcoin - generally,. They do different things. If we dig right back to the fundamental level of simple money transfers though, many do argue that XRP is far better for the facilitation of this than both Bitcoin and FIAT. In order to explore this further, let’s disregard the FIAT comparison for now, you’re reading a cryptocurrency news website, therefore we don’t really need to convince you that crypto is better than FIAT for the facilitation of money transfers, do we? A partner at Arrington XRP Capital, Michel Arrington has spoken out about XRP, his justifications for using XRP (amongst other cryptocurrencies) within his Hedge Fund and of course his views on XRP as a money transfer medium. Arrington believes that many areas of the cryptocurrency industry are too harsh on XRP, he believes that XRP is functional in providing fast and cheap transactions, making XRP not just perfect for Hedge Funds, but also as a direct competitor to Bitcoin too.According to ZyCrypto, Arrington said:
“[Ripple is] a legitimate company and they don’t pretend to be something they’re not and they’re really good at one thing, moving money fast and cheap. It’s fantastic, it fills a big need and for a hedge fund like us to be able to denominate in XRP.”
It’s a sentiment that many investors agree with, Ripple need to give themselves a break. They have already produced a product that can help to move money fast, for a low cost too. Arrington goes on to compare XRP with Bitcoin which is far slower than XRP when it comes to direct money transfers. Arrington has said:
“That is amazing. There’s no way to do that with Fiat or Bitcoin. There’s just no way to do it that fast and that cheaply and and so it serves a really useful need for us. There’s no three-day wait for international wires or one day wait for us wires we’re not paying wire fees.”
Arrington is one of many investors that are super bullish about XRP, not just as an investment but as a product that already works very well. Compared to it’s rivals (Bitcoin) XRP is ahead of the game and promises to change the way the world makes money transfers.ReferencesZyCrypto
As a key writer for Crypto Daily, Nathan’s role entails the creation of cutting edge news articles, reviews, press releases and general content creation. Nathan’s stories strive to include the most up-to-date cryptocurrency news and affairs, contributing to Crypto Daily’s growing network. Nathans previous experience as a researcher ...
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