The imove wallet is now more wealthy by one more cryptocurrency, and that crypto is XRP. XRP is the native token of the Ripple network, which sees itself as the future standard for cross-border payments, remittances and general transactions on a global scale.
The wallet can handle multiple currencies, allowing holders to use both fiat currency and cryptocurrency alike. All of this from one account that gives users the ability to do instant currency exchanges, deposits, withdrawals, and many other bank settlements.
This is a match made in heaven as both the wallet and Ripple itself are positioning themselves as general tools to overcome the problems inherent in today’s financial system with regards to transaction time, speed and ease of use.
Why is this so important?
Sending money to someone, even in the same country, takes a lot of effort (and time). While many people don’t realize it, money does change hands electronically despite what your online banking profile might have you believe. The modern financial transaction system is a patchwork of various systems and processes that have a friendly UI. This is the reason bank transfers are so expensive. It is the reason for sending small amounts of money to someone on the other side of the world can be costly.
Ripple’s system wants to change this and cut out the middlemen that have been garnishing the transfers of regular people for decades and replace them with an impartial, secure, and above all fast system. This system uses XRP tokens to represent value in many ways.
The addition of Ripple to imove’s wallet is yet another step in this goal to become the premier global transaction network for everyone. The imove wallet is already able to handle multiple crypto and fiat currencies, so it is the perfect platform for Ripple and XRP to thrive while giving current users more options.
Ripple is booming at the moment, with many a developer looking at their network to power their payments. Their former Chief Technology Officer has started up a blogging platform that works similarly to Spotify. Stefan Thomas’ Coil platform promises to be the Spotify for written content, with easy entrance into the world of crypto.
What’s up from here?
Ripple is hard at work, finding more and more partners. They were finally added to Coinbase earlier this year, and there was a flurry of activity in the mainstream media comparing Ripple to JPMCoin where there was heated debate about the usefulness of either cryptocurrency.
The problem with JPM Coin, many said, is that banks would prefer to use an independent system as opposed to a competitors system. This is where Ripple shines – it is an independent network that is already miles ahead, technologically to its competitors.
When the imove wallet entrance is looked at from this angle – it certainly bodes well both for investors and users of the Ripple network.
Disclaimer: Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.