In a positive twist of events to the Crypto community, Skrill has announced a move to expand the scope of Cryptocurrencies that the internet wallet supports to include Ripple’s native Token XRP. Therefore, from now henceforth, Skrill will be supporting five Digital Assets including XRP. This revelation was made via Twitter on an official Skrill page.
Other Cryptocurrencies that Skrill support include Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash ABC that retains the BCH symbol following the November 2018 hard fork.
Skrill Users Can Buy And Sell XRP
The Twitter announcement announced to all users that XRP will be supported on the network effective immediately. The significance of the news is users are now able to buy XRP or even sell the Token within the Skrill platform without having to leave the site in order to access a conventional Crypto exchange platform. Experts believe that this addition will greatly simplify the acquisition of XRP and may be critical in mass adoption of not only Ripple but all other Digital Assets.
This Comes Following Public Interest
While releasing the good news to the Crypto community, Skrill showcased incidences where many individuals requested developers to incorporate XRP into its Cryptocurrency provisions. The demand-driven XRP addition is therefore expected to transform Skrill user-experience especially against strong competition from other internet money platforms such as PayPal and Neteller. Further, the new service will play a critical role in the development of Skrill as a Crypto-fiat network that has direct links to mainstream banking platforms.
Skrill Recognizes The Opportunities Proffered By Cryptocurrencies
The International Monetary Fund (IMF) and the G8 Summit held in Argentina in mid-2018 asserted that Cryptocurrencies are assets rather than currencies. The debate is still going on among experts where opinion is sharply divided. Nonetheless, Cryptocurrencies, like conventional assets, often appreciate in value or plunge depending on Crypto markets dynamics.
In this regard, they offer a perfect strategy for both long-term and short-term investments. With a dynamic market of a market capitalization level of $136 billion, they are a major increasingly becoming popular among investors and Skrill is aiming to serve this market.
Already, Neteller is offering Crypto trading services on web-based platforms. Having started Crypto trading services in July 2018, Skrill is expected to be the go-to option for crypto investors. Skrill CEO Lorenzo Pellegrino is yet to announce possibilities of a fully-fledged Crypto exchange platform but he hasn’t ruled out any possibility either. He further acknowledges that the Cryptocurrency market is dynamic, vibrant, and promising and Skrill will be offering a digital wallet and a trading platform that is unique and easy to use.
Skrill charges between 1.5% and 3% for fiat-Crypto transactions. Additionally, the internet money network also offers fiat-Crypto trading solutions for more than 40 fiat currencies.
XRP Is Becoming Popular
Ripple Blockchain is currently the most preferred technology for financial institutions that are willing to adopt DLT due to its centralization features. This has resulted in XRP being popular in Crypto markets where it overtook Ethereum to be the second largest Digital Asset.