Amazon Will Start Accepting Ripple

The rumours say that the online e-commerce giant, Amazon will start accepting Ripple as a payment method.

No official information has been released from Amazon, but speculators think Ripple might the most appropriate first step for Amazon to get involved with cryptocurrency.

Towards the end of 2017, various cryptocurrency forums were flooded with speculators anticipating that Amazon would start accepting cryptocurrency. Unfortunately, no other information has seen the daylight so far.

Nonetheless, nothing moves the cryptocurrency market as much as rumours about big companies getting into the crypto space.

More About The Rumours

Ripple has always been a somewhat controversial cryptocurrency due to being a favourite cryptocurrency of wealthy investors, banks and other financial institutions.

If we listened to the rumours, Amazon might consider Ripple as means of payment due to low transaction costs and the fact that Ripple transactions fees are charged at a fixed rate.

Hence, the more the Ripple value increases, the cheaper the transactions get in fiat currency. If Amazon were going to enter the partnership, the transactions fees would become minimal, adding the same an extra value to the Amazon worldwide services.

So Is Amazon and Ripple Partnership Going To Happen?

Following last year’s rumours, Amazon allegedly owns three domains: amazonethereum.com, amazoncryptocurrency.com and amazoncrytpocurrencies.com.

If that were true, it would be a clear indication of Amazon preparing to include cryptocurrency in its future payments portfolio.

While there are no comments from Amazon itself or comments from the sources within the company, some analysts concluded that accepting Ripple would be a smart move for the retailer.

Realistically speaking, involving Ethereum or Bitcoin would pose specific difficulties tied to the volatile nature of virtual currencies. Retailers all around the world are trying to overcome the problem of how much an item would cost in Bitcoin one day, and how much another.

Ripple, on the other hand, wouldn’t affect the price of goods, but the transaction costs. It would also allow for more straightforward fiat cryptocurrency exchange.

Whether Amazon will start accepting Ripple is still a questionable matter, but you shouldn’t be expecting any changes in the immediate future.

If you’re interested in learning more about Ripple, read our guide to the Ripple Currency.

SHARE

Megan is a self-taught blockchain enthusiast. She enjoys combining finance with technology, from a less-techy perspective. BiteMyCoin is her most recent project underneath the umbrella of an international digital marketing agency ANCHOVY.