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dunebuggyjay

Those in the USA, how are you buying your XRP's? Anyone let you use debit?

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Hi guys,

 

I am using Kraken to buy my XRP's. I wire transfer the money from my account to Kraken.I then have to wait a few days, and I also have to pay a wire transfer fee to my bank. 

 

Is there a better way to buy? I would love to use a debit card or something to instantly purchase some XRP's here and there when the price is low. (and not have to wait)

 

How are you guys doing it? With minimal fees?

Thanks

Jay

 

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Another vote here for Uphold.

Fee's are a little on the heavy side, but as soon as you hit buy they hold them for you at whatever the market rate for zerps are, just can't send them out of there until the funds clear.

All in all, the little extra cost is worth the instant gratification.  I was also able to up my limits to $10k from $500

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51 minutes ago, Triple said:

Uphold is the way to go.

I've heard great things about uphold. Unfortunately, as a NY state resident, I am stuck using Bitstamp at this time

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Not sure what the cost differences are for Bitstamp vs Uphold (and too lazy to find them right now), but I can personally vouch for the debit/credit card instant transaction on Bitstamp.  Keep in mind that your bank may block the transaction (mine initially did - US Bank) and I had to call them and tell them I was trying to buy crypto.  I'm sure they thought I was insane, but they lifted the block and I was good to go from there.

It's pricey though - saving the 3-5% and waiting for a bank account transfer is going to be well worth it in the long run.  I don't think this market is going anywhere in the next week or two... 

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Uphold here also.  I connected my checking account.  You can then buy instantly at current price.  It then normally clears my bank via ACH in two business days.  Be aware that Uphold will not release your XRP for 7 business days no matter how quickly the ACH clears your bank.  I've made probably 20 or 30 purchases and it always clears my bank in 2 business days, and is released exactly 7 business days by Uphold.  I can't move it to my Nano until they release it.  That is not a concern for me, as I am a hodler and not a trader.  I bank with a small credit union and my debit card is denied at all exchanges I've tried.  I'm satisfied with my arrangement so I have not pursued trying to get approval with the debit card (it is Visa branded).

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1 hour ago, zerp4eva said:

Uphold here also.  I connected my checking account.  You can then buy instantly at current price.  It then normally clears my bank via ACH in two business days.  Be aware that Uphold will not release your XRP for 7 business days no matter how quickly the ACH clears your bank.  I've made probably 20 or 30 purchases and it always clears my bank in 2 business days, and is released exactly 7 business days by Uphold.  I can't move it to my Nano until they release it.  That is not a concern for me, as I am a hodler and not a trader.  I bank with a small credit union and my debit card is denied at all exchanges I've tried.  I'm satisfied with my arrangement so I have not pursued trying to get approval with the debit card (it is Visa branded).

Same here, im with a credit union as well and do the same as you. no complaints other than there fees to transfer it out of uphold. It sucks, but i guess its price we pay for convenience. 

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Thanks for the replys!

I just setup an account on Uphold. Verification happened in like 10 minutes! It took weeks with Kraken.

If I setup my checking account in Uphold, dont i still have to wire it over like I did in Kraken? (and pay my bank a wire transfer fee?) 

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I buy ETC via coinbase with my debit and then send ETC from there to poloneix ETC and then I sell it and buy with bitcoin. Takes about 15 mins from start to finish but fees are very low and if you do it quick you might lose a couple dollars or make a couple dollars depending on the cost of the coin at the time. 

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With Uphold is that once you've got a card balance it is possible to float it between cards quickly (with conversion fees, but still) in order to bump things around - so I was able to bump some XRP to BTC immediately, refill my XRP with the amount I transferred via ACH locking in a decent price, transfer my BTC to bitflip for some CSC action... instead of having to go through some other extra site, I could just do the swap internally immediately instead of having to wait for a BTC buy to clear, etc.

I realize the fees aren't trivial, but depending on what you are trying to do it might make the situation worth it. I don't know if other exchanges like Bitstamp or coinbase allow for that kind of liquidity cross-currency. It's a convenient model.

I hope they adopt and use xRapid. Been looking for evidence they are considering it, but no dice so far.

EDIT: Being able to fully operate against the XRP ledger and being integrated with xRapid are not the same thing as far as I can tell - I know there are reddit posts suggesting this, but not so much.

Edited by jag216

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