Investors Believe XRP Is Better Than Bitcoin And FIAT For Money Transfers
Itâs 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 itâs pretty rare that we see XRP compared with both Bitcoin and FIAT at the same time.
This is because XRP isnât 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, letâs disregard the FIAT comparison for now, youâre reading a cryptocurrency news website, therefore we donât 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:
â[Ripple is] a legitimate company and they donât pretend to be something theyâre not and theyâre really good at one thing, moving money fast and cheap. Itâs fantastic, it fills a big need and for a hedge fund like us to be able to denominate in XRP.â
Itâs 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:
âThat is amazing. Thereâs no way to do that with Fiat or Bitcoin. Thereâs just no way to do it that fast and that cheaply and and so it serves a really useful need for us. Thereâs no three-day wait for international wires or one day wait for us wires weâre not paying wire fees.â
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 itâs rivals (Bitcoin) XRP is ahead of the game and promises to change the way the world makes money transfers.