RE: The Hassle Involved With Investing In Crypto
The analysis is spot on, yet there is one thing in my opinion that is crucial yet not mentioned (yet, perhaps in the next installment it was coming).
Nah, it felt good writing the first two part and felt forced when I wanted to continue on with it.
But yes, the general complexities with crypto puts off a lot of people. Although, I do wonder if the prospect of money does compel some to jump through the hoops anyways.
For example, my friend is a SAP employee through acquisition of Qualtrics. The employees have a perk where they can get company stock "buy 1 get 40% free" (or so I'm told). He figured out ways to set up international banking, etc. to make sure he maximizes his purchases.
With US buyers locked out places like Binance and whatnot, it does annoy me that I can't get some assets without extra steps. This takes me back to what @socky used to post about "get us on bloody exchanges" seem like a sad hindsight.
Alas, I've let myself use @blocktrades for now...hoping places like Binance.US would list STEEM before I sign up for more exchanges.
I'm okay with KYC processes, but prefer not to be spread across multiple exchanges.
Yeah, I still have yet to sign up for Binance.us. I plan on it soon, but last I checked they were accepting deposits and purchases for ADA (the other coin I'm invested in) but weren't allowing trades or withdrawals. They probably allow it now as it makes no sense for anyone to transfer or purchase if they cant sell or withdraw, I just haven't had time to check.
Given the shakedown exchanges use on projects making them pay a fee to list, hopefully they would not require this again from the projects that already paid once to be on their international site. I would like to see them succeed, as my wariness on Coinbase has contributed to my shying away from making many purchases. The word of mouth online for them being thieves has branded them to many fearful people like myself.
I appreciate your posts on this. Not many seem capable of reaching across that divide to understand the disconnect between computer/crypto savvy folks and normal folks like myself who are the masses.
Oh you can totally purchase and withdraw ADA. You just have to wait for before you can withdraw. It's 10 days for ACH I think.
It's similar to Robinhood that you can deposit money and have credits to purchase immediately, but you can't withdraw until the bank transfer is complete. I have already made several purchases of ADA on Binance.US.
It would be unfortunate if there's a second listing fee. There's almost no way STINC would do it.
I have used Coinbase in its early days in late 2012, but I have moved off of it and used their Pro (then GDAX) when it became a thing. It remains a staple because it's convenient.
And yes, I do forget at times that people here aren't all savvy. There's always the assumption that if they are here, they must know.