Keeping up with all of the features and benefits of digital currency has kept my head spinning. One of our subscribers, Dan Annweiler, shared with me the results of an interesting experiment. He logged into his Ripple wallet and clicked on ‘send’ and then inserted the address of his Bitcoin wallet. What happened? Well, the Ripple XRP became Bitcoin and then showed up in his Bitcoin wallet. Very interesting.
I had to try it myself, and it does work. This presents a very interesting new option of getting your hands on Bitcoin. If you are now familiar and comfortable with how to buy into Ripple, you can now simply use your Ripple to buy Bitcoin. All you need is to set up a free Bitcoin wallet over at www.blockchain.info.
Remember that you can buy Bitcoin in a small fraction, using up to eight digits after the decimal point. The only thing that I was a bit hung up on was how to input the amount of Bitcoin to ‘send’ from my Ripple wallet. It turns out that you have to start with 0. before you insert the amount. So, here is an example – 0.00000001 of how to format your entry.
Another reason to love Ripple XRP.
James L. Paris