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research this........https://www.revolut.com/en-US/    

What's the point? It won't reduce friction in payments. It'll increase fees because there is a FIAT-XRP and XRP-FIAT conversion You hold a very volatile currency, which basically b

I need someone to set up a USD to XRP account that I can have my paycheck (or a portion of it) direct deposited every payday.   It would have to be sort of a traditional bank account that then co

4 hours ago, spiras said:

Over time, I wouldn't spend all my disposable income so I will continually accumulate.  In fact, I would be less likely to spend freely, knowing that I would be stashing away XRP if I went with generic products instead of name brand.  Walmart Special sneakers instead of Nike. Oh yeah!  New car? No thanks.

Hi @spiras  You're not the only one foregoing the new car and buying generics :) I'd rather invest, don't care much for "keeping up with the Jones-es"...

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22 hours ago, spiras said:

My thought was that it would be easier to keep track.  Formula = current balance + total amount spent - USD equivalent into account from Direct deposit.

That would be my capital gain.  No actual crypro to crypto trading.  Just money in, money out, plus current balance. Beautiful. Simple. Or jail if I'm wrong. 

Maybe I might want to pay a tax lawyer /accountant for the first year.

Maybe that's a good idea. I can't speak to the tax laws in other countries, but I thought the U.S. generally treated cryptocurrency as property, meaning that each time you sell/use is an event that must be reported as either a capital gain or loss. With the amount of day-to-day volatility that can occur, that's a lot to keep with if you're using something like XRP as a means for exchange. I think that was at3n's point. Someone please correct me if I'm wrong.

In many ways, I wonder if poor regulation is what is either holding crypto back or propping it up. How many people are hodling because they are afraid of the tax implications? I also wonder if there wouldn't be a culling or consolidation of cryptocurrencies if the tax regulations for trading were loosened.

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