How to buy crypto with fiat without any fees.

in #howto3 years ago

It was the summer of 2016.

Hotness was all around me. But not a short skirt caught my eyes, it was... Something way different.
I knew right away that this was love at first sight.
Researchers say that love lasts only a few years. But what do they know. THIS is so different. I can tell. I was convinced of that with every second I spent researching my new found love. And like every love story mine had obstacles as well. But for the time being, they proved to be insurmountable.

And so my love for ETH at around $11 remained only a dream...

One year later my circumstances changed. The barriers to get into crypto in my country are still there, but some ways to get into it emerged. Those ways are rather costly. My first investment amounted to around 20% in fees. That's insane. I was reticent at first, but after much thought I decided it was worth it despite such crippling fees.

Thanks to LocalBitcoins I can finally buy at around 6,5-10% these days. Which is great. But I found a way to invest in crypto without paying a single cent in fees. And I felt compelled to share it especially because of potential people like me a year ago - that are in a place were buying crypo is yet impossible.
I have to tell you that it's an out of the box method. It has some negligible risk (the company might get bankrupt tomorrow, an asteroid might hit earth, etc. I can't predict everything, but the chances of that happening are negligible).


title.jpg


So what is this zero fee method of buying crypto?

Deposit on a poker site called Natural8.

Now before you think that this is to good to be true or some kind of scam let me explain.

Natural8 is Asia's largest poker room. It's a reputable poker site. I've played around 1k hands there. The application is good, competition very soft. It has good loyalty program. The only thing I didn't like is the fact that they don't allow to use a hud like poker tracker or holdem manager.

If you love Poker this might be a perfect option for you. You got a good site where you can play and you can invest in crypto through it. But if you don't play poker at all, I think long term the scheme won't work for you, because they won't like being exploited without making at least some rake. One or two times might work with some small sums of money. Not tens of thousands.


Ok, so how does it work?


Step 1. Make an account.

They didn't even require any documents to confirm my identity. But you have to link a Facebook account to it. I guess this it their 1st tier ID verification.


Step 2. Make a deposit.

I deposited using Skrill.

3 skrill.PNG


Step 3. I would recommend actually playing some poker

I think this step might be skipped. I'm not entirely sure though. I found some info saying that you have to generate 15% rake on your deposit to be able to withdraw. That might be outdated, cause I generated around $10 rake and they allowed me to withdraw without any questions.
Here, I think, they will not have a big problem as long as it's your money. But might require further verification if you win for example $5k in some tourney.


Step 4. Make the withdrawal request.

Withdrawing from your cashier to crypto can be done only via support. I found it funny that their support is on Facebook. But was surprised by how fast they answer every time. It's like they got an army of people on Facebook ready to answer.

So you should contact support and tell them that you want to withdraw.
Bellow is a conversation of my withdrawal request.

1 convo1.PNG

1 convo2.PNG

1 convo3.PNG

1 convo4.PNG


Step 5. Wait.

2 transaction.PNG


As you can see, I received my money into Eth without any problems. At the time I saw my transaction it was worth $229.


Bellow are some pictures of the lobby for potential poker players.

lobby.PNG

lobby 2.PNG

Just as I said. The games are pretty soft.


I hope this helps. Especially to someone who doesn't have any other way to make his first investment into crypto, as was my case a year ago. You can deposit instantly using a credit card. And go from there.

I rate this as a viable option, but I wouldn't try to game it too much.
Play some poker just to be sure.


Best of wishes, fellow Steemians!

Till next time...




1st image source
The rest are made by me via Skrill, Facebook, Natural8.

Sort:  

You now have to play for 15% of your deposited money before you can withdraw again...
Thats too risky for me.

Yes, I mentioned it. I didn't do that much rake tho.
So here is a problematic area.
But if you play poker, it works well.

Oh yeah, sorry I skipped the part, where you said, you'd recommend playing some Poker, because I really don't want to take any risk here.
But still thanks for the post, maybe i will try it in the future. :)

No prob!
Actually everyone should take into consideration your comment.
Cause I withdrew without making 15% rake, but It might not work for you. Who knows what mood has guy that approves it :D

Calling @originalworks :)
img credz: pixabay.com
Nice, you got a 79.0% @mamqmuqit upgoat, thanks to @kaizencrrr
It consists of $5.49 vote and $0.83 curation
Want a boost? Minnowbooster's got your back!

The @OriginalWorks bot has determined this post by @kaizencrrr to be original material and upvoted(1.5%) it!

ezgif.com-resize.gif

To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!

This wonderful post has received a bellyrub 13.05 % upvote from @bellyrub. Please make sure to vote for my pops as a witness @zeartul,Here

This post has received a 5.60 % upvote from @booster thanks to: @kaizencrrr.

Sounds like im gonna deposit and gamble all my bitcoin lol :P

Nicely Crypto blog

Congratulations @kaizencrrr! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Salut, trebuie sa ne vedem cumva și să discutăm despre crypto și viitor. Ce zici?

Congratulations @kaizencrrr! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard:

SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @kaizencrrr! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!