Coinfield Launches Crypto Exchange With Ripple (XRP) As Base

There were rumours on the windmill that a Canadian cryptocurrency exchange had been planning on launching an exchange with Ripple (XRP) as their base currency. This rumour can now be confirmed as Coinfield, the exchange in question has announced that said service will be made available to their customers in 61 countries around the globe. The procedure is quite easy too as users will just have to complete a simple KYC in order to register.

This move has mostly received positive feedback from XRP traders and those who take an active interest in XRP. In fact, it was due to a petition to make XRP it’s base currency, filed by some crypto lovers that led the exchange to take this decision. Many people from the crypto community have applauded this move on Twitter.

They also revealed that their customers could now pair XRP with 20 cryptos. The exchange also enables their users to choose from 28 trading pairs and exchange 6 types of fiat currencies from various countries. They include the US Dollar (USD), Japanese Yen (JPY) Great Britain Sterling Pound (GBP), Canadian Dollar (CAD), UAE Dirham (AED), and Euro (EUR).

The transaction fee for XRP based pairs have been capped by the company at just 0.05 percent. They have also promised to add more crypto coins by the end of this year.

Having XRP which Coinfied’s CEO Bob Ras referred to as “a reliable and efficient” network, as the base currency, will allow users to move funds across wallets and exchanges much faster.

However, that being said, Coinfield is not the only platform to be in favour of the cryptocurrency. XRP United Limited, also did the same.

It may be assumed that other exchanges may follow in the same footsteps and this would automatically raise the price and it’s trading volume.