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UK only right now, but I'm sure it will be expanded to other countries at some point in the near future.

https://www.coinbase.com/card

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Introducing Coinbase Card

A Visa debit card, funded by your Coinbase balance.
The easiest, quickest way to spend your crypto worldwide.

There are probably others out there, but this one should allow you to exchange and spend XRP. There have been some recent reviews on reddit regarding using the card which are mostly positive albeit as long as the user was cognizant of the associated fees and the volatility of their own digital asset holdings.  If they paid enough attention to the digital asset market conditions they were able to spend "free" or "neutral" money when volatility presented positive price swings and avoid using the card when volatility went the other direction.

Of course if the whole market takes off the idea of using it seems like not a great one, but in the meantime getting that occasional free soda or tank of gas seems like a decent deal.

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11 hours ago, Zedy44 said:

as the user was cognizant of the associated fees and the volatility of their own digital asset holdings.

The fees and the conversion rate are going to be the biggest factors I'm concerned over. I've had experience in the past with transferring USD to CAD. The biggest struggle wasn't finding a service, it was finding one that yielded the large amount of money in the end. Sometimes the fixed price was too high for the amount I was sending; other times, the rates were unreasonable.

I feel like the most effective card would need to come from a place that already has an exchange working with real-time values. That way they can give the actual conversion rate and be more transparent with any sort of fees they charge for the card. Services that claim no fees, but subtly give terrible rates, are inducing fees in disguise. Certainly a possible end-goal is for things to be sold in XRP directly and there wouldn't be a need to convert to a type of fiat currency, but that may only exist in select places online.

Edited by Xrylite
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  • 4 weeks later...
3 hours ago, Vesm said:

I would love this, but man... the taxing nightmare after using this... having to report EVERY SINGLE PURCHASE and pay tax on it... 

yes, I have been asking myself this question, how does one calculate tax on a fluctuating currency against another fluctuating currency.  So you buy your XRP with dollars, spend them on your credit card with Euros in Italy and then pay your tax in pounds!!!???  It is impossible to levy taxes on a fluctuating currency in your wallet. 

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7 minutes ago, Julian_Williams said:

yes, I have been asking myself this question, how does one calculate tax on a fluctuating currency against another fluctuating currency.  So you buy your XRP with dollars, spend them on your credit card with Euros in Italy and then pay your tax in pounds!!!???  It is impossible to levy taxes on a fluctuating currency in your wallet. 

I know! It’s ridiculous! Do you also have to consider the fluctuations of dollars and euros in pounds? 

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6 hours ago, Julian_Williams said:
10 hours ago, Vesm said:

I would love this, but man... the taxing nightmare after using this... having to report EVERY SINGLE PURCHASE and pay tax on it... 

yes, I have been asking myself this question, how does one calculate tax on a fluctuating currency against another fluctuating currency.  So you buy your XRP with dollars, spend them on your credit card with Euros in Italy and then pay your tax in pounds!!!???  It is impossible to levy taxes on a fluctuating currency in your wallet

This is where the (United States) "Token Taxonomy Act" would come in handy... up to $600 exclusion -

“(1) IN GENERAL.—The amount of gain excluded from gross income under subsection (a) with respect to a sale or exchange of virtual currency shall not exceed $600."

https://www.congress.gov/bill/116th-congress/house-bill/2144/text

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On 5/30/2019 at 8:24 AM, XRPOlson said:

Does anyone know of a debit card  VISA or Mastercard  that can be charged with XRP?

This probably isn't the best thing to do with a volatile asset.  Take yesterday for example...  Say you went to go buy something and by the time you got there you didn't have enough money to buy it anymore.  I think a stablecoin is better suited for this job at a consumer level.

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  • 3 months later...

Revolut is useless. You cannot deposit XRP. You can only buy XRP in their environment and hold. Impossible to take it out. They hold the secret keys to your XRP. All these debit cards are after your XRP. If anyone can find a useful one where you are owner of the secret keys then please let me know.

Edited by cryptoxrp
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An XRP wallet with a connected debitcard will do the job. My point is that the present debit card companies take hold of your XRP which they can use as they deem fit. Lend it out.... etc..... take risks with it I would not take. AND ask fees for a debit card payment...

The earlier all retail companies start accepting XRP the better :)

Does anyone know a low-fee XRP Mastercard debit card?

Edited by cryptoxrp
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Y'all are all describing nothing more than a pre-paid credit card, who's prepaid value is tied to a volatile asset.  This is 100% worthless to the user and essentially a scam to steal your asset.  One day, when 'banking' moves into the crypto space perhaps this will become a reality that protects the end user but for now, this is completely useless (at least under today's lack of crypto regulation).

AMEX has been utilizing XRP to move money between countries for nearly a year now, along with many other large institutions.  The real question here is "How long until one can PAY your debt using digital currency" and the answer is, "The foreseeable future".  One of the prime examples is Fidelity, account owners can be issued a credit card, with a limit essentially tied to margin, but the purchase of which does not draw directly against your portfolio.   When payment is due, you simply pay out of your core account (cash).  Fidelity is currently offering institutional accounts for crypto and will eventually open the ability to trade crypto to non-institutional account holders. All major cards will eventually allow something similar.

Edited by WhtSno
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