LakeBTC becomes an IRBA Ripple Gateway

LakeBTC is pleased to announce that we have become a Gateway Member of International Ripple Gateway Association (IRBA). As one of the big four bitcoin exchanges in the world, LakeBTC is actively working with banking and payment processing partners from different continents, and this membership is expected to bring more convenience and cost reduction for our users worldwide to make deposits and withdrawals. In the mean time, price discrepancy and fragmentation will be reduced and a more efficient market will benefit all users and investors.

About Ripple

Ripple, created by Ripple Labs, is a peer-to-peer open payment network, through which currencies can be transfer into any of others, including USD, EUR, CNY, JPY, or bitcoin, easily and rapidly. As a P2P network, anyone can create an account, and no individual, corporation, or government controls it. Currently LakeBTC customers can make USD deposits and withdrawals via Ripple network.

About Ripple Gateway

Ripple Gateways enable users to put money into and take money out of the Ripple network. They accept currency deposits from users and issue balances into Ripple’s distributed ledger. Furthermore, gateways redeem ledger balances against the deposits they hold when currency is withdrawn. In practice, gateways are similar to banks, yet they share one global ledger known as the Ripple network. The easiest way to get funds in and out of the Ripple network is through a Ripple Gateway service. Gateways issue IOUs backed by cash. You manage this account through the Gateway's website as you would any financial account.

About IRBA

The International Ripple Business Association (IRBA), a nonprofit organization, has as its mission:

to provide educational resources, set standards and best practices for the operation of various Ripple businesses, and organize the opinions of membership into actionable projects that serve to advance development of the Ripple protocol and its surrounding ecosystem.

IRBA provides unified procedures to establish trustworthy and secure services for Ripple customers. To become a member, a gateway needs to meet certain criteria and publish a number of documents about the business and top managers for review and scrutiny. Currently there are about a dozen IRBA Gateway members scattered around the globe providing secure and trustworthy services for all Ripple users. People may make deposits and withdrawals via a local gateway by cash, check, bank wire, online banking, and other local payment methods.

About LakeBTC

LakeBTC is a leading bitcoin platform that provides bitcoin trading services. Security, liquidity and service are three strengths that make LakeBTC stand out of the crowd. Our team with years of experience in financial industries is working hard to ensure customers' fund and privacy being safe and secure.

To make USD deposit to LakeBTC via Ripple:

  1. Log in your LakeBTC account.
  2. Click Deposit in the menu, and USD tab, then Ripple.
  3. Put in the amount you want to deposit, and press submit. You will be redirected to Ripple wallet page.
  4. Log in your Ripple wallet, and complete the payment.

To make USD withdrawals from LakeBTC via Ripple:

  1. Log in your LakeBTC account.
  2. Click External Accounts, then Ripple, to add your Ripple wallet address
  3. Click Withdraw, and USD tab, put in the desired withdrawal amount and select the Ripple wallet address you just added

Thank you for choosing!

LakeBTC Team

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