Rescue popular XRP TipBot
According to Wind, the registration process and the associated time restrictions and exorbitant costs would have forced the developer to stop the XRP TipBot. To save the project, Wind contacted Uphold. Uphold is a digital money platform with more than 1.7 million customers worldwide and a transaction volume of almost 6 billion dollars so far. By using blockchain technology, Uphold offers its customers easy access to cryptocurrencies, national currencies, precious metals, yield/credit products and soon crypto-based debit cards.
In an article on coil.com Wind explained that the XRP TipBot was about to be discontinued because a new draft law was passed in the Netherlands, in line with European Union regulations, which requires custodians of cryptocurrencies to register their companies.The XRP TipBot started as a hobby project of Wind in 2017 and has since sent over 2.5 million XRP, with about one million transactions. Currently, the TipBot has 18,000 active users per month. One specific feature contributed greatly to this (relative, still a hobby project) success: the fact that anyone can be sent a Tip with just one message (Tweet/Post), without the recipient having to “setup” an account (at xrptipbot.com). Tip balance could just be forwarded using the same syntax, or a withdraw could be requested at xrptipbot.com.
Until now, the Netherlands was a perfect location for the XRP TipBot, as there were no special legal requirements for the secure custody of cryptocurrencies. As a result, Wind was able to store the smaller amounts of XRP in a hot wallet and waited until a stranger with a tip claimed the XRP with an on ledger withdrawal.The Uphold team went all out to help me. To allow the XRP TipBot to survive.As a result of the partnership, XRP TipBot users will have to link their account with an account from Uphold in the next days to continue using the service. By linking their accounts, users will also have access to the wide range of Uphold services, including the conversion of Fiat currencies to crypto and vice versa.
Author : Jake Simmons