The main objective of xrparrot is to offer a fast XRP conversion in Euro. The information was released by Wietse Wind, maker of tipbot XRP.
Wietse Wind generally creates services that are easy to use and useful for the user. We are talking about the last things he has created as an online cryptocurrency portfolio, the XRP Bot or the navigation of information and statistics on the XRP register.
Now has a new website known as XRParrot which aims to create an easy to use and rapid platform for the purchase and sale of XRP for Euro. In the future, the intention is to add new features and support other legal currencies.
To start using the service, the user should enter the mobile number, the IBAN of origin from the bank account and the XRP portfolio that the user must send the funds. After that, the information must be confirmed and the transfer activated to receive the XRP in the portfolio.
In this way, the website would allow users to easily switch euros to XRP simply by using the best possible rates and lowest fares. It is important to remember that human intervention is not necessary. Furthermore, the whole process is automated as soon as the user activates and confirms the transfer.
Users can use different portfolios. It can be an exchange, a trading platform, an online wallet or even the Bot Tip XRP account.
In general, bank transfers through IBAN can take a few seconds for some banks in the Netherlands and 4 to 8 hours for other banks in the European Union. However, if the transaction is sent over the weekend or on Friday, it may be processed on Monday depending on the bank.
The system is simple and fast due to the regulations applied by the European Union. One of these regulations is known as PSD2 or Revised Directive on Payment Services. With it, banks must make customer accounts available to connect freely and securely with other banks and finance companies. This means that there is fierce competition in the banking sector that promotes better practices among players.
Websites such as XRParrot are able to connect with these banks using IBAN and a telephone number.
In addition, Wietse Wind said that the website will allow people to create a periodic withdrawal from bank accounts to specific portfolios.
XRParrot purchases Gatehub's IOU Euro using client funds. After that, the system transfers these IOU Gatehubs for XRP to a decentralized XRP exchange. XRP Ledger has always supported decentralized exchange. Indeed, Gatehub was able to exchange XRP and various other redeemable tokens using XRP Ledger. There are many Gatehub customers who own XRP and are willing to exchange their XRP for IOU Gatehub depending on the price.
Although this may seem complicated for most investors, the system works smoothly and quickly. Users do not even know that this is happening behind their operations. In fact, they only see that they are able to convert their euros into XRP.
In addition, IBAN transfers are free for customers. This means that the rates applied will be reduced and reduced compared to other financial services. XRParrot will charge only € 1 per transfer and 0.3% for the platform. Gatehub, at the same time, charges 0.2% on its IOU exchanges.
Because the XRPs are immediately sent to the user's wallet, there is no picking fee. The service has lower costs than most other services for fiat-to-crypto transactions. This means that it is a very good option for users living in Europe.
At the moment, there will be a restriction of € 500 per month from bank accounts. However, the limit could be increased in the future. It depends on the services of the XRParrot partners and what their limits are.
To promote the new XRParrot, Wietse Wind explained that there will be a beta version at the start of the fourth quarter. This means that we are only missing a few weeks.
XRParrot aims to expand the adoption of cryptocurrency by creating services that are easy to use and easy to use. In this way, Wietse Wind is able to promote cryptocurrencies in a very simple way.