Ripple: a guide on how to invest in crypto
Ripple: a guide on how to invest in crypto
Crypto

Ripple: a guide on how to invest in crypto

By Alfredo de Candia - 4 Jun 2020

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Ripple, the company behind the XRP crypto and its blockchain, has released detailed guidelines on how to invest in the growth of a company in terms of ease of payment, even using cryptocurrencies.

This guide analyzes the main countries in the sector, 14 to be precise, and for each of them, all relevant information is reported, such as the size of the market in dollars, guidelines for exchanges, whether the use of digital assets is regulated and the winning moves that could be made in that specific market.

The guide shows a map showing where it is easier to do business in this sector, with the most favourable markets being Europe, England, and India scoring 4.5/5.

In second place we find America and Australia with a score of 4/5, while in third place we find Mexico, Nigeria, Thailand and the Philippines with a score of 3.5/5. The rest of the countries score lower: Brazil and Poland 3/5, Colombia, Peru and Argentina only 2/5.

Ripple in Europe

As far as Europe is concerned, each country has its own regulations, of course, despite the fact that the various countries all comply with the standards set by the various regulatory bodies and institutions such as the European Commission and the ECB.

Ripple thus explains that exchanges must follow the anti-money laundering directives, the so-called Fifth Anti-Money Laundering Directive (AMLD5), which each country requests. Usually, these rules involve receiving authorization from the local authorities and making periodic reports on activities.

In the EU case, Ripple’s advice is to have access to SEPA instant credit transfers that allow real-time payments.

In essence, this information is quite general, but it gives some interesting ideas, especially when you want to invest in a market that is still relatively unknown.

Investments in India

As far as India is concerned, Ripple explains that the regulation in the country is not very clear but that banks currently do not offer any kind of service to companies operating with cryptocurrencies.

“Ensure optimal payment experience at competitive prices for a cost-conscious customer base”, explains the report as a winning move in this market.

As far as Mexico is concerned, here XRP is considered a virtual asset and therefore it is possible to trade without using financial institutions.

Among the countries analyzed there is also Nigeria, where exchanges are not subject to any specific regulation.

The case of Thailand is also interesting, where exchanges must be directly approved by the country’s SEC: it is therefore a place where regulation exists and is quite comprehensive.

Finally, in the United States exchanges must be registered with FinCEN to obtain a license called MTLs, in particular if the service is to be offered to citizens of the State of New York.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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