Ripple users can make payments to Bitcoin addresses directly from Ripple Trade.
Here’s how it works:
It’s that simple.
We call it a “Bitcoin Bridge” and it gives Ripple users access to the entire Bitcoin economy. Please note that payments through the Bitcoin Bridge may take a significant amount of time to be processed.
What Is The Bitcoin Bridge?
Ripple users can make a payment in any currency — dollars, euros, etc. — and the Bitcoin merchant will receive the payment in Bitcoins.
That’s good for Ripple users and it’s also good for Bitcoin merchants.
Thanks to the Bitcoin Bridge, all Bitcoin merchants now accept payments from Ripple users. More than 8,500 merchants are now available on the Ripple network:
How Does It Work?
The Bitcoin Bridge is a simple protocol that connects the Ripple and Bitcoin networks. When you send money from Ripple to a Bitcoin address, an organization running the bridge protocol facilitates the transactions.
The Bitcoin Bridge is operated by SnapSwap. Please reach out to SnapSwap for Bitcoin transaction details.
Ripple was designed to be currency inclusive. Instead of promoting one currency or another, Ripple makes it easy to send payments in any currency and acts as a “universal translator” for money. The Bitcoin Bridge is one more step in Ripple’s mission to connect the disparate Internet payment systems into a single, shared, unified payment network, freely available and accessible to all.
To learn more, read the official press release.