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Going On Holiday? Don’t Forget To Take Your XRP

Going On Holiday? Don’t Forget To Take Your XRP

One of the biggest advantages of cryptocurrency is that fact that it can be used as a currency no matter where you are. It’s not sovereign and therefore, in theory at least can be accepted in any country (assuming the laws allow it). One hurdle that crypto currently faces however is a lack of vendors accepting cryptocurrency, this will come when mainstream adoption grows, until then though, make sure you stock up on both FIAT and crypto before travelling, just incase you do get caught out!

XRP is known as one of the most global cryptocurrencies, this is because of two reasons. Firstly, it has a very large share of the entire crypto market and secondly, because XRP was designed by Ripple to make cross border payments faster and cheaper, therefore using XRP when abroad could be a great move, especially if you want to make remittance payments back home. Revolut, an international cash card app describes XRP as the following:

“A transaction made with XRP is settled in just 4 seconds, unlike Bitcoin where transaction times can vary depending on how congested the network is - ranging anywhere from 10 minutes to extreme cases of 16 hours. XRP was actually intended as a ‘bridge currency’ for financial institutions, to allow them to make simple, fast, cross-border payments, without the need for multiple middlemen, or the huge fees usually associated with these types of transactions.”

Furthermore:

“There's no question XRP is one of the most interesting tokens out there, with an offering that could potentially change inter-bank transactions and subsequently the monetary system as we know it.”

So, why take XRP abroad or on holiday? No inter-bank fees and no need to rely on inter-bank transactions, istead, with XRP you are free to transfer your money on an international level without the risk of a middleman. Though middlemen aren’t actually dangerous, they can slow down the process entirely and always take a cut, XRP on the other hand helps us move past that, making it the perfect companion to your travellers cheques or foreign money.

Remember, buying cryptocurrency is however very risky. XRP is subject to volatile price movements and therefore you should only invest money that you can afford to lose. When moving XRP around, these price changes can still have an impact, so always remember to stay wise with your crypto and trade safe.

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