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Ripple : Is an exchange allowed to withold XRP that was bought through their service?

Ripple update: Is an exchange allowed to withold XRP that was bought through their service?


I recently bought a sum of XRP through r/CoinCorner (Isle of Man based exchange), without realising that they do not currently offer send/receive functionality for altcoins.

This is a shortcoming on my part for not noticing this before purchasing from them, but it is what it is, and after emailing them asking for an update on progress I received a reply stating that full altcoin functionality is something they “may look at adding”, but it is “still under review and likely won’t be introduced any time soon”.

I find this pretty disappointing as a response, considering how important the ability to send/receive coins is in the cryptocurrency space, and I would be lying if I said I wasn’t now a bit worried.

I would now like to withdraw my XRP from their service to store in a private wallet, and so I wanted to ask if anyone knows of any measures I can take to regain control of my XRP, in absence of the ability to withdraw coins through their website.

I find it hard to believe that an exchange is in the position to deny a customer access to assets which were purchased through their service, and I am willing to go as far as visiting their office with a hardware wallet in an attempt to gain access to my tokens.

Any advice on what my rights/options are here would be greatly appreciated.

​

Thanks in advance,

Sam




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About Ripple (XRP)



Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.

Author: SammSayingStuff

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