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Australian consumers to spend XRP at one million locations and withdraw money at 30,000 ATMs


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So people will end up paying more for their goods and services as opposed to paying with FIAT.

The exchange might be zero fee, however there will be a spread when purchasing crypto, to load up the card.

In effect people will get less bang for buck , whilst the exchange makes money from the spread.

Whats wrong with just paying cash, or tap n go with a visa\mastercard debit\credit card. lol

 

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Dam you my ANZAC brother and sisters creating convenience for this digital age , showing off your fancy tech , well we still have pavalova , lollie cake , lamington,  flat white and Phar lap was born in Timaru , um you keep Russel Crowe though :biggrin:.

28 minutes ago, Freaky said:

So people will end up paying more for their goods and services as opposed to paying with FIAT

Fair point I reckon.  But we pay for convenience , Mac Donalds make **** burgers and they're not the cheapest and yet they're everywhere,  consumers will pay , a one card payment system that does it all might be on the cards. 

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3 hours ago, Armanius said:

https://xrparcade.com/news/australian-consumers-to-spend-xrp-at-one-million-locations-and-withdraw-money-at-30000-atms/?fbclid=IwAR3JzEQ_5NNtSBAAbeK3ETC0ZC5u_Byg-lcQk5izftp-s2N_HOcCui-b9ds

 

MyCryptoWallet (@mycryptowallet twitter handle) is an Australian zero-fee exchange where you can store, trade and track cryptocurrencies. According to ZyCrypto, it has launched myCryptoCard which enables consumers to spend cryptocurrency at one million locations and withdraw money at 30,000 ATMs.

MyCryptoCard can be loaded with myCryptoWallet using a smartphone and pay for goods and services at any EFTPOS (Australia’s universal payment network) accepting merchant or withdraw money at ATMs.

The five supported cryptocurrencies are BTC, LTC, ETH, XRP and POWR while the users can withdraw Australian dollars (AUD) at ATMs.

MyCryptoWallet CEO Jaryd Koenigsmann sees the cards as another milestone for cryptocurrency adoption:

“We’re taking a big step to make cryptocurrency a bigger part of offline daily life. Whether it’s a cup of coffee, groceries or new pair of jeans, Australians can now pay in crypto with the myCryptoCard.”

People could send you xrp and you can convert and spend AUD. I do this with most of my contractors now in Europe. 

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1 hour ago, Doubletap said:

What percentage do you pay in tax for that kind of transaction ? And how do you work GST into it if you're doing it as a payment form for a business ?

I am in Australia and the rules that the ATO have published for tax on crypto-cash are so broad and almost offputting . I wouldn't be surprised if they add stamp duty type tax going into it in the first place soon .

I'm doing it from Dubai company at the moment.. I need to look into it for this part of the world some more

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5 hours ago, Doubletap said:

Here we demonstrate the cutting edge of Australian "fancy" tech.

Great video thanks,  amazing race of people that have populated the harshest of environments this earth has to offer , surviving with nothing but their knowledge and skills that have been handed down for thousands of years , its a shame the indigenous people of Australia dont get a fair deal.

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2 hours ago, Doubletap said:

Yes I totally agree they are amazing survivors and really not suited to the modernisation that had been forced upon them

Agreed , and sorry for your good lady my friend,  as males we don't truly understand the threat posed to females or understand the vulnerability they feel , what we take for granted like a casual walk can turn into a nightmare and a life of misery, substance abuse and mental anguish.  I'm in the BOP myself at the moment.  Some people should not drink period,  alcohol attributes to more violence,  deaths , domestic abuse than any other substances and knows no boundaries between races . For aborigines, as a race they were hunted for a bounty , suppressed , children taken from parents,  some true wrongs imposed on them that we couldn't imagine  , but by no means does that excuse anyone from doing wrongs to others. I hope XRP reaches your expectations and beyond.

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