crypto currency

[QuarterMillionMan]

XRP is now $2.13 a coin. My $2000 buy in since Wednesday is now $2600. Something is going on. Maybe they are going to announce a stablecoin or something.

[QuarterMillionMan]

A picture is 1000 words.

[james.hendrickson]

Man its hard to not have fear of missing out with results like that.

[QuarterMillionMan]

Michael Saylor's words (not mine's), "the only thing better than bitcoin is to have more bitcoin." In less than 1 week with XRP, I made $1000 (started with $2000).

[disneysteve]

I may have asked this before but how easy is it to sell this stuff? What fees are involved? There are capital gains taxes of course but I just mean transaction fees.

[QuarterMillionMan]

Easy to sell, fees about 2%.

[james.hendrickson]

I may have asked this before but how easy is it to sell this stuff? What fees are involved? There are capital gains taxes of course but I just mean transaction fees.

Coinbase charges about a dollar or two in transaction fees.

[QuarterMillionMan]

Also the fees vary by coin. On the previous page 8 of this thread where I sold $52 of Shiba Inu the fee was $3.74 (see the bottom of that screenshot). That’s about a 6% fee. Or on that same page 8 I bought $500 of XRP and the fee was $9.20. That was a 2% fee.

[QuarterMillionMan]

What Is the SWIFT Banking System?
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) system powers most international money and security transfers. SWIFT is a vast messaging network used by financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions. This could explain why XRP has been rising amongst these other coins, they are in the running to be used with SWIFT.

[QuarterMillionMan]

Example Fees

Disclaimer: These are estimated figures and actual fees may vary.

• Sending bank fee: Typically a flat fee of $25-$50, or a percentage of the transfer amount (e.g., 0.25%).
• Intermediate bank fees: Can range from $10 to $50 per transaction.
• Exchange rate markup: Banks often add a margin of 2-3% to the exchange rate.

If you’re sending $5,000 from the US to Europe, you might incur the following fees:

• Sending bank fee: $30
• Intermediate bank fee: $20
• Exchange rate markup: 2%

Total fees: $50 + potential loss due to exchange rate markup.

To get precise fee information, contact your bank directly. They can provide detailed cost breakdowns based on your specific transfer.

Also, from what I understand it takes about 3 - 5 days with the traditional system. But with cryptos it might take 3 - 5 seconds and at greatly reduced fees from what I gathered.

[QuarterMillionMan]

Ripple’s RLUSD stablecoin: Here’s what you need to know before launch

Ripple is preparing to launch its United States dollar-pegged stablecoin Ripple USD (RLUSD). The cryptocurrency community highly anticipates the launch, which is expected on Dec. 4.

[QuarterMillionMan]

Bought $200 more of XRP.

[QuarterMillionMan]

Missouri bill would ban CBDCs, make gold and silver legal tender

Missouri looks to make gold/silver legal tender and ban cryptos, interesting.

[QuarterMillionMan]

Bitcoin is $101,400 today which could now open the flood gates.

[QuarterMillionMan]

Just bought $1300 ($999 + $316) worth of bitcoin.