GBP issuers?

Trade experiences with Ripple users and gateways

GBP issuers?

Postby jzlcdh » Thu Apr 10, 2014 11:48 am

As far as I know there are no GBP gateways as yet but what GBP issuers are there and have you had any good or bad experience with them?

I know of:
Bitstamp - seems somewhat liquid
Wisepass - seems solid
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Re: GBP issuers?

Postby dchapes » Thu Apr 10, 2014 1:39 pm

jzlcdh wrote:Bitstamp - seems somewhat liquid

Be aware, Bitstamp's non-USD and non-BTC balances behave specially compared to other gateways. They don't issue/redeem from/to GBP but to USD.

In particular, it doesn't matter what the GBP/Bitstamp liquidity is like on Ripple, you can always (if you're a verified Bitstamp customer) issue/redeem (withdraw/deposit) your GBP/Bitstamp into your Bitstamp exchange account and they convert it at (near) their current bank rate from/to USD. So you can convert your USD/Bitstamp to/from GBP/Bitstamp at around the current bank rate just by going in/out of your Bitstamp exchange account.

For example, that means that to do something like GBP/Bitstamp→XRP you're often better off depositing the GBP/Bitstamp for USD in your Bitstamp account, withdrawing that back to Ripple as USD/Bitstamp and trading that to XRP.
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Re: GBP issuers?

Postby jzlcdh » Thu Apr 10, 2014 3:00 pm

Ah interesting. I had not realized that Bitstamp allowed that.

I wonder whether Wisepass allows withdrawals and deposits of GBP/Wisepass to and from fiat USD in the same way. It is not clear from their website (perhaps one has to have an account to see the info) so if nobody here on the forum knows I will ask them.
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Re: GBP issuers?

Postby jzlcdh » Wed Apr 16, 2014 2:08 pm

Wisepass have not replied to the email I sent them last week - anyone else have any info?
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