During this particular hard time for XRP hodlers, I would like to share my real experience on how XRP had helped me financially (aside from investment point of view). I'm an Indonesian expat, working in Thailand. Remittance are absurdly expensive between Thailand and Indonesia. I've done my research thoroughly, and the "cheapest" remittance around was Speedsend by CIMB. Even with Speedsend, I'm looking at around 10% of total fee when sending money back to Indonesia. That might sound like reasonable if I'm sending one time money. But take this into perspective: If I'm working my ass off, outside of my country for 10 months, the 1 month salary I made will be spent on just sending the other 9 months salary back home. At this point, flying out my money back home is much cheaper compared to using any remittance available. Even by this method, I have to convert my THB to USD, fly out with USD, and convert back USD to IDR. This is guarantee the best rate (the rate between ASEAN currencies have larger margin compared to their USD pairing). With this method, I'm looking at 1% to 1.5% fee, not including the return airline tickets. Still reasonable though. I've done this kind of remittance for 7 months, until I found out about crypto-currencies in September 2017. I started investing in BTC (naturally), and then got hooked with the other altcoins, including XRP. Coincidentally, Thailand Crypto-exchange and Indonesia Crypt-exchange were two of the firsts to have XRP in their pairing list. So while it might've been hard to buy XRP if I'm working in say-Singapore, I can buy XRP directly with Thailand's fiat THB. I've marched from investing in crypto to using crypto as remittance medium in November 2017, when I realized how cheap and convenient it is to transfer cryptocurrency across the globe. I put all of available crypto into tests (excluding BTC, because the obvious high transfer fee it entails): XRP, BCH, LTC, ETH. The metric that I cared about are the fee and the clearing speed. Why clearing speed? you'll see soon enough. All the clearing time below are excluding processing time of the exchange themselves. I'm tracking the speed by the txid. All the fee are based on the rate during my transfer test:
BCH clears in 55 minutes (6 confirmations), fee: 0.3 cents
ETH clears in 12 minutes (50 confirmations), fee: 53 cents
LTC clears in 2 minutes (1 confirmation), fee: 12 cents
XRP clears under 1 minute (1 confirmation), fee: 0.7 cents
BCH comes out as a clear winner in term of fee, with almost half that of XRP. To be honest, all of the crypto I tested imposed reasonable fees which I'd overlooked because they all are under 1$. But, speed is the essence when it comes to trading crypto currencies, due to the high-volatility nature of the market. With XRP, I can buy XRP-THB, send XRP to Indonesian exchange, and then sell XRP-IDR in under 5 minutes (mostly due to exchange processing time). Doing remittance this way, I can almost surely get even better rate than what I get flying out money. XRP has helped me, in daily life problem. The token already create values for me, regardless it's price surge. If you're holding XRP token, keep hodling on!
Searching for a Crypto Exchange in Bangkok, Thailand. Preferably accepts a Unionpay debit card
Im searching for an exchange service that accepts a Unionpay debit card or cash. Preferably the former over the latter. Im hoping to purchase bitcoin and then transfer to my e-wallet. I would appreciate any help. I would prefer to do this in person at a physical exchange branch or P2P. I havent had much luck finding an online exchange that would accept Chinese RMB. If anyone has any insight, i would appreciate any help
Great News! As part of Dash Thailands new project Dash Next which is focusing on Dash growth in Asia & beyond, Dash has been listed at Dcoin, a global Top 30 CoinMarketCap crypto-currency exchange, with top-tear user interface based in Singapore. See website link in comments.
Thailand has joined Japan in regulating crypto exchanges after it issued its first licenses to four applicants. The four that were approved as licensed brokers and dealers of cryptocurrencies in In June last year, Thailand’s Securities and Exchange Commission (SEC) officially announced regulations regarding cryptocurrencies and initial coin offerings (ICOs). The regulations required ICO issuers, brokers, dealers, and digital exchanges to register with the SEC within a period of three months from the date the regulations were enforced. Licensed bitcoin and crypto trading platform Zipmex, today announced its launch in Thailand with its official mobile app. The expansion comes after successful launches in Singapore, Indonesia, and Australia as the company continues to accelerate operations across Southeast Asia to fuel a rising demand for digital currency due to the recent regulation changes in the market. The Thai Securities and Exchange Commission has approved four new crypto business operators to legally operate in the country. In addition to licensing a new crypto exchange, the government has Thailand has been growing the number of licensed cryptocurrency service providers. The Thai regulators have now approved 13 crypto businesses to legally operate in the country, including cryptocurrency exchanges, brokers, and dealers. The Royal Decree on the Digital Asset Businesses B.E. 2561 regulates the crypto sector in Thailand. It categorizes digital asset businesses into three […]
Ripple Partnering With Thailand Crypto Exchange (Bitkub) to Boost XRP Payments Network
The crypto family is getting bigger and bigger, and I share my thoughts on the crypto market in 2018. We wrap up our Crypto Retirement in Thailand by heading to Koh Phi Phi Islands. Man, what a ... Bitkub : Thailand's Cryptocurrency Exchange 14,691 views. 3:28. Live Bitcoin Trading With DeriBot on Deribit DeriBot Backup 103 watching. Live now; Elon Musk: ... Bitkub.com Thailand's Cryptocurrency Asset Exchange Founded in February 2018, Bitkub is a new generation digital asset and cryptocurrency exchange platform... Coinfloor is the UK’s leading cryptocurrency exchange, providing a secure and accessible platform for institutional and sophisticated investors to trade and invest crypto. To follow the full ... How to send money to Thailand with Bitcoin - How to buy cryptocurrency in Thailand CEX EXCHANGE: https://cex.io/r/0/up107108109/0/ BX(The Thai baht to Crypto...