Ripple Community Rejoices As Merchants Can Now Accept XRP Payments With CoinGate

As cryptocurrency exchanges struggle to maintain their performance, payment gateways like CoinGate have manage to continually expand consumer options with crypto-based purchases. CoinGate supports multiple coins on their platform, and they have just added XRP to their lineup, according to a report from The Block. With this new addition, merchants that employ the CoinGate payment gateway will be able to apply XRP in receiving their own payments. Considering that XRP is one of the biggest crypto markets by capitalization, this move could introduce more revenue into retail.

CoinGate announced the addition of XRP on their Twitter page, saying,

Attached to the post is a blog that describes all that this new addition entails. CoinGate is enthusiastic about the development, saying that they hope to “significantly boost [Ripple’s] utility.”

Unlike the cryptocurrencies that have formerly been added to CoinGate’s listing, XRP is not logged on the blockchain, and independent validators confirm the changes to the ledger with a Ripple protocol consensus algorithm. As such, CoinGate launched an XRP ledger validator to their team, making it possible to “further accelerate the decentralization of the $XRP network,” according to a blog post.

Along with the use of XRP in retail payments, clients have the option of buying the crypto asset from the CoinGate platform. Read the full update on the CoinGate blog at: blog.coingate.com/2019/02/merchant-xrp-payment-option/

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Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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