Ripple’s XRP better than Bitcoin (BTC) and Ethereum (ETH) in terms of moving money: TechCrunch founder
In a recent interview, TechCrunch founder Michael Arrington said that Ripple’s XRP is one of the best cryptos when it comes to moving money from one part of the world to another. In the interview with Blockinpress, Michael Arrington explained why his crypto hedge fund Arrington XRP Capital chose to denominate in this particular crypto.
“So we wanted to actually be the first hedge fund to denominate ourselves not in dollars or some other fiat currency but in an actual cryptocurrency,” Arrington explained, “We know XRP is the best for that because – look, it’s a little bit more centralized than, say, Bitcoin. It has its detractors. A lot of people in the US dislike it. But if you need to move some money very cheaply and very quickly, there’s nothing better than XRP.”
Arrington further explained, “When you need to actually get down and move money from our LPs to us, from us to our companies, from us back to our LPs – when we hopefully make money for them – it’s just fantastic.” His company’s first deal was transfer of $50 million and XRP helped the transfer in a few seconds, much faster than the traditional ways of moving money. “Our very first closing was over $50 million, and we moved that money in 3 seconds, and it cost like 20 or 30 cents to move that $50 or something million dollars. Bitcoin and Ether can’t compare to that,” he said.
Other users’ take on XRP
Not just the TechCrunch founder, a number of other users also share the same view about the crypto. In fact, a user took to Twitter to share his experience, he wrote, “I just sent my friend in Orlando some XRP to his Wirex card so I could buy tickets and he received within 3 seconds the world has just opened up.” While another user took to Twitter and wrote, “There it is folks, as easy as that. Just like using your normal contactless bank card but using XRP. Great product.”
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