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Learn Where & How to Buy Ripple With Debit Card - A Beginner's Guide

Ripple Debit Card
Author: Benson Toti Updated: January 28, 2022

Ripple is a digital payment processor, and its cryptocurrency shares the same name. The digital currency is also known as XRP. Ripple’s infrastructure makes transactions incredibly fast and convenient for many financial institutions, including banks.

A debit card is a plastic card designed to deduct money from the buyer’s account to pay for purchases. When you use debit cards from either Visa or MasterCard, you enjoy the best consumer protection. 

Millions of people who do not want to carry cash around to pay for purchases opt for debit cards.

Steps to Buy Ripple With Debit Card

We have plenty of payment methods that we can use today when buying and selling XRP. You can conduct a bank transfer. Alternatively, you can buy Ripple (XRP) with a debit card. As you can see, whether you use a card or bank, you can still get your digital currency in your wallet. But if you have some money in your bank account and have linked your debit card to the account, it is more convenient and affordable to buy Ripple with a debit card. If you follow the right process, you will successfully complete the transaction in minutes. Here are the steps that buyers typically follow:

  1. Connect your checking account with your activated debit card: Visa and MasterCard debit cards are the best. Ask your bank to issue you a debit card bearing the logo of one of these payment networks. After that, deposit an amount that is enough for the purchase in the card or bank account.
  2. Register with the best Ripple trading platform: Choose one of the best trading platforms and signup by providing your details. If necessary, go through the account verification process to enhance the safety of your funds.
  3. Open a Ripple wallet: To be able to buy XRP, you need a wallet address. Create a wallet that suits your needs, and you will get a wallet address for free. Alternatively, you could also buy a cold wallet.

Login to the cryptocurrency exchange and initiate the process of buying Ripple with a debit card. This is the same process that you follow to buy Bitcoin, Bitcoin Cash and other digital assets.

Pros and Cons of Buying Ripple With Debit Card


Cheaper than credit cards
Prevent debt
Easy to acquire
Keeps you within budget
Convenient and reliable


High risks for disputed charges
Doesn’t improve credit rating
No reward points

What Are the Transaction Fees on Debit Card?

When you use a debit card, you will be required to pay some fees. Some banks will charge you for using the card if you enter a PIN to conduct a transaction. If you sign your name, instead, you do not pay this transaction fee. If you overdraw your account as you conduct a transaction, you trigger a fee too. 

This works the same way as bounced checks. There is also an additional cost if you use an ATM card to withdraw money on a machine that your financial institution does not operate. To avoid making costly mistakes, read the disclosure on the exact fees that they charge. These costs change from time to time.

Payment networks do not control transaction costs. That is the work of your bank or financial institution. Since there are millions of institutions that issue debits cards, we cannot list the charges of all of them. However, as an example, let us consider MasterCard’s “Merit III Tier 1. 

In this case, the debit card rate is 0.70% plus a flat rate of 0.15 USD. The prepaid rate is equal to the debit card rate. Non-exempt transactions are charged at a rate of 0.05% in addition to 0.21 USD. The trading platform also charges users. Some impose a fee as high as 10%.

XRP to Debit Card: Can I Transfer Ripple to Debit Card?

You can directly transfer Ripple to many debit cards. As we have seen, a card issuer determines how you can use it and most of the charges. As such, if your bank allows a direct transfer of the coin, you can send your XRP to the card or the bank directly. After that, your bank balance will reflect the deposit.

If you cannot succeed through this method, use an indirect solution. This involves signing up with a legitimate trading platform that accepts a debit card as a payment method. Initiate the transaction by sending the digital currency to their wallet address. The exchange will then send the money to your bank account.

Debit Card to Ripple: It Is Possible to Convert My Debit Card Funds to XRP?

You can convert your debit card funds to XRP directly. But like in the above case, this can only happen if your financial institution supports these kinds of transactions. As such, you start the process by confirming with your bank whether they offer this service. 

However, in this case, you must also get a trading platform that accepts fiat currency and converts it into digital currency in your account. If they do, you can go ahead and transfer the funds. Give them your wallet address, and after a while, the money will reflect in your Ripple wallet.

Alternatively, convert your debit card funds to XRP indirectly. Register with a crypto exchange that accepts debit cards. Send the money and let the platform fund your XRP wallet.

Frequently Asked Questions

  1. None of them is the best when it comes to issues pertaining to the cost of your transactions. Payment networks like Visa and MasterCard do not have direct control over the amount that you are charged when you buy or sell XRP. Banks and financial institutions that issue these cards influence the rates. Trading platforms also determine how much you will pay, given that their rates vary significantly. If you are working with a brokerage, you need to consider their charges too.
  2. Yes, a debit card protects you from debt and is cheaper than a credit card. It is also secure and reliable. You can hardly hear about cases of reversals, so when using it, your funds are safe. They also allow direct money transfer to some cryptocurrency platforms. But debit cards cannot help you when you have no funds in your checking account. Overall, since debit cards protect your money and allow you to send and receive XRP directly, it is worth it to use this method of payment.
  3. You can complete transactions on many Ripple trading platforms within 5 minutes. If your order is taking longer than this, here are the possible reasons: You have not followed the verification process as outlined You are a first-time buyer who has not verified your account The platform does not support the payment method you have used
  4. Yes. If you buy Ripple at a low price, then sell it for more, you can make a profit. Learning fundamental and technical analysis can help you do this.
  5. Even though you can store your XRP in your trading platform’s wallet, it is neither secure nor reliable. The best one is a cold wallet.
  6. There are several platforms where you can buy Ripple. Choose any one that is reliable and fast. The support team should be responsive enough to meet your needs when you require urgent help. You can also consider signing up with one that has a built-in wallet to save you the effort of opening or buying new ones.
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