Direct Sending of Coins to another Coin Wallet.

Findingnemo

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

Such kind of thing really need centralization and going to work like exchange with extra bit of fee for better convenience or literally there is no way to receive bitcoin when you send an altcoin because both are from completely different exchange and the valuation of 1 btc = 1 btc = ripple? Only exchange can decide that value.

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Quote from: tvplus006 on July 28, 2021, 04:37:22 AM

Quote from: Reatim on July 23, 2021, 09:57:22 PM

...Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

I have not yet met such a cryptocurrency exchange on which the transaction described by you would be available. This type of transaction is implemented by the exchange FTX.com only for stablecoins other than USDT. Thus, having BUSD on your account, you can send them and receive them on another USDC exchange.

I have heard/read about this type of transfer, but I don't think it's ever possible for an exchange. Some casinos I believe do this type where you deposit in one crypto and receive in fiat or other crypto, without exchanging but the spread they charge is worse than the exchange fee/commission. So I would even rather say just do the exchange first takes you 5 seconds:)

Reatim

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Quote from: roosbit on July 28, 2021, 03:08:43 AM

Quote from: Reatim on July 23, 2021, 09:57:22 PM

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

The closest solution I have seen to what you have described is using domain based wallets like unstoppable domains or fio.

The idea behind these is you don't really need to send coins to your buddy's ripple wallet like you would normally do,
all you need is their domain address like satoshinaks@fio and they receive their coins and he or she will convert them to whichever coin they need.

really ? have you tried using this system mate? i mean is this safe and legit? and do you know others that uses this without any issues at all? that's why i am looking if exchange may consider this because they ae the most trusted place for me specially Binance in which i have been using for years constantly and brings me no issue at all.

Quote from: tvplus006 on July 28, 2021, 04:37:22 AM

Quote from: Reatim on July 23, 2021, 09:57:22 PM

...Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

I have not yet met such a cryptocurrency exchange on which the transaction described by you would be available. This type of transaction is implemented by the exchange FTX.com only for stablecoins other than USDT. Thus, having BUSD on your account, you can send them and receive them on another USDC exchange.

ohh , well stable coin are the safes i guess so i have no problem using this one in the future but what i am concerning now is somewhat exchange or wallets.

tvplus006

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

...Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

I have not yet met such a cryptocurrency exchange on which the transaction described by you would be available. This type of transaction is implemented by the exchange FTX.com only for stablecoins other than USDT. Thus, having BUSD on your account, you can send them and receive them on another USDC exchange.

roosbit

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

The closest solution I have seen to what you have described is using domain based wallets like unstoppable domains or fio.

The idea behind these is you don't really need to send coins to your buddy's ripple wallet like you would normally do,
all you need is their domain address like satoshinaks@fio and they receive their coins and he or she will convert them to whichever coin they need.

cryptoaddictchie

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

You mean like swap automatically. Mostly mentioned is an exchange since for now this is the only way you can directly received it since you need to swap first it to the coin you desire. Its not hard actually cause exchange designed like that and even swap dex works like that. If you noticed uniswap you can directly swap a coin to another one even without a pair liquidity for that coin cause uniswap automated the process for you.

maxreish

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Ive used coinswitch in a particular site ( a gambling site that has coibswitch enabled on it) . That will automatically convert your coin (eth) and arrive another coin (xrp) to your wallet. The fees are decent and usual and transaction speed is also normal.

You can check this out and see how that thing works for converting coins and sent directly to your wallet.

Alisha-k

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I doubt if such would exist because even in fiat currency exchange you still you still have to convert to the currency of the recipient before transactions. I doubt if there would be any thing of such for crypto currency because there are all built on different networks on the blockchain and only a few share the same network so it might never be possible

DarkDays

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Quote from: mk4 on July 23, 2021, 10:04:08 PM

Such thing is really possible and is definitely great UX, though as far as I know (correct me if I'm wrong here, technically gifted people), a good amount of centralization is going to be needed from both parties(sender and receiver) to pull this off; which is something you shouldn't want.

I hope this is possible to do in a non-custodial manner though.

As much as there hasn't been much need for that yet, I can see why some people would like to have this feature.

I suppose there needs to be enough incentive to provide this because as I can imagine this would require a conversion behind the scene say on the initial exchange before it hits the wallet address of the coin you want to receive it in. I'm not sure this would be as easy from crypto to fiat but crypto to crypto in theory could be done - it is a matter of practice and larger need.

The Cryptovator

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Still, you can do it from the instant exchange. Send them eth them and you will receive your desired coins. Isn't that? I mean you won't receive in ripple, but in exchange you have eth. If that exchange doesn't have ripple or you don't want to exchange from there then you may swap it from the instant exchange. If you are wondering to send cross-chain transactions then it's not possible or it will not possible in the future. Somehow coin should convert either by you or automatically by an exchange.

Reatim

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Quote from: hugeblack on July 24, 2021, 01:29:32 AM

Quote from: Reatim on July 23, 2021, 09:57:22 PM

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

In general, what is the benefit of that, if the fees are low, the transfer will be easy.

I think generally i am looking for the benefits like No sending of coins wrongly because I also once a Victim of my own laziness in which i send a different coin for different wallet though i am lucky that our wallet provider helped me back my funds.

But in general there are some post until now that experiencing this in which i believe that can be answered if what i am asking above can be possible in the future.

Quote from: GreatArkansas on July 24, 2021, 09:37:45 PM

This is likely similar to the "bridge" term which is already in some altcoins now, that there is the capability to transfer from another blockchain network, they are almost similar but yeah as what others said, it is possible but I believe on some altcoins here specially built on some blockchain network that got limitation or blocker, it will be difficult or impossible to integrate.

Yeah I know what you are pointing mate though I'm asking for the totality of crypto currency since the main objective is to be used against Fiat in the future so having this then all transaction can be possible without the need for conversion .

Ararbermas

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

probably its possible to happen..but you know alot of stuff here im crypto space were getting easier especially when it comes trading different coins.. Infact there's a basic way to trade your ethereum to Ripple without using exchanges and that's through SWAP site using "wallet connect" if you want it to directly sent to your wallet and you are using trust wallet or metamask it will be better..

GreatArkansas

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This is likely similar to the "bridge" term which is already in some altcoins now, that there is the capability to transfer from another blockchain network, they are almost similar but yeah as what others said, it is possible but I believe on some altcoins here specially built on some blockchain network that got limitation or blocker, it will be difficult or impossible to integrate.

dunfida

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

So this one talks about crossplatform which i dont see for it to be possible if it would be sent directly from wallet to wallet since its on different blockchain but if it would able to pass into some 3rd party wallet provider( which do currently have) then you would really be needing that conversion first.For now it isnt possible to see but it would be a great add up on that case.

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

How the Ethereum be Ripple if you don't do anything? It is impossible because the are different chains. The solution should be converting Etherum to Ripple first in your wallet, then send the Ripple to the receiver wallet. I think it is already quite simple, there is no need for another way. In my prespection, the current features in crypto wallets look great and they are always improved by the developers to adapt to future needs.

sheenshane

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Technically, on the non-custodial wallet, this is impossible to happen because each coin has its own blockchain network and they'd also have different wallets, so it means they're not compatible with each other. All you have to do is to choose a costudial wallet or use third-party services such as exchange to swap your coin and send to it's perspective wallet.

Quote from: khaled0111 on July 24, 2021, 05:18:14 PM

If such feature existed, then we wouldn't need all those exchanges.

I tend to agree with, if this will exist in the future, there's no need for us to use exchange since we can easily swap our coin to another coin.

goinmerry

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I like that idea but where's the liquidity would came from? It's not the same as how swap exchanges work.

If ever an exchange, CEX or DEX, will support it, only a few trading pairs will be possible to convert automatically (not that techy but not that noob so need some enlightened on that part).

livingfree

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It still has go to through exchanges for it to be convertible into another cryptocurrency that the receiver wants to receive.

I know and understands it that it's not about exchanging it but that's the actual thing that will happen if someone does this type of transaction. But it's possible in the future, we will never know how the devs of such niche can do and make it happen.

khaled0111

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Technically this is not feasible. You can't send a coin from your wallet and receive a totally different coin on another wallet without going through a third party service (ie: exchange).
The third party service will take your coins, set the exchange rate then send the other coin to the recipient.

If such feature existed, then we wouldn't need all those exchanges.

joniboini

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Direct chain to chain is likely impossible unless you're fine with atomic swap or something similar. Some projects issue different versions of tokens to tackle this issue. It's obviously not as flexible as your ideal condition is, but it's there.

Atomic swap should be good enough in the near future, so you don't have to rely on a third party to swap your tokens asap.

CryptopreneurBrainboss

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These are already possible with some of this Defi exchanges, it's more like swapping. When I was promoting the Gold stablecoin project in the past I sent them their erc20 token every month and they gave me Bitcoin almost instantly (depending on the network congestion) that's because I inputting my BTC address when initiating that trade. If such feature was to be developed in a wallet then what you describe would be possible.

With centralized wallet that feature can be easily implemented, they just have to build something like a swapping protocol that you just have Indicate you want to recieve ripple equivalent to your ethereum deposit that'll be coming in and when your deposit gets confirmed, the system automatically trade it for you and gives you ripple.

Probably they'll charge you some fees for the trading they are to excute on your behalf but if want you want is achieved I believe the fees will be worth it. Atleast it'll save the time of first exchanging to you interested coin before now sending to the wallet.

Boov

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

If you're expecting that there's a merging of both ripple and erc20 network, I guess that's not possible for now. You need to first trade your eth first before we can send xrp to our personal wallet, you can just buy ripple using your eth balance. There's binance trading site that we can use in exchange on our ethereum in order for us to purchase xrp coins.

hugeblack

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Quote from: Reatim on July 23, 2021, 09:57:22 PM

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

If you mean from one central platform to another, it is easy, almost all centralized platforms receive money from you, check it and then update the database with those balances, it does not matter if they update Bitcoin or ETH database.

With regard to wallets, this can be done with decentralized platforms. In this case, the protocols need to talk to each other, something that has not happened so far, but if it happens and the fees are low, it is possible to send a currency to any wallet and the smart contract directly converts it to another currency without the need to exchange that currency first.

In general, what is the benefit of that, if the fees are low, the transfer will be easy.

mk4

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Such thing is really possible and is definitely great UX, though as far as I know (correct me if I'm wrong here, technically gifted people), a good amount of centralization is going to be needed from both parties(sender and receiver) to pull this off; which is something you shouldn't want.

I hope this is possible to do in a non-custodial manner though.

Reatim

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Just like the title says is it Possible to "Directly Sending of Coins to another Coin Wallet in the future"?

I mean not like now that from Exchange we need to convert first to what Coins we need to receive before sending to our wallet , but is there any chance in the future that there will be Platform or system that we will be letting to do such?

Example = i have Ethereum and i want to receive Ripple , in which i don't need to convert to Ripple first before sending in which i can directly sent the ethereum and i will receive ripple to my wallet?

Topic: Direct Sending of Coins to another Coin Wallet. (Read 171 times)