RE: The crypto market and its barriers to entry - A regular girl´s experience
Thanks for sharing your thoughts with us, @edje!
If you say that you are on exchanges, may I ask how you get there? I mean, supposing that you live in a country where the regular currency is USD, how did you convert it into a crypto currency? There may be always a starting scenario, right? Or did you earn crypto directly and were inside the system right from the beginning?
There are so many questions which supposedly seem very basic to you. But I think that is what most people need to learn when they get in touch with these new currencies for the very first time.
Kraken is also advised, but you had difficulties with them; Maybe open a new account with them and use the name as know at your bank?
Yes, that would be one of my next steps :)
Again, thanks for your help!!! It´s much appreciated.
Correct. I only opened an exchange (Poloniex) a week ago, and transfered some Steem from Steemit to play around with and try trading and recently invested a tiny bit in Partcl, a new crypto currency that still need to start and now in crowd funding phase; I transfer from Poloniex directly to them some BTC and SDC (another crypto currency I purchased on Poloniex).
I have Poloniex, but they do not fiat currency (like $ Euro or some other hard currency). I also have Openledger, but don't know if they do fiat currency either.
Apparently my hometown has one Bitcoin ATM, so I may try that one.
BTW, maybe a stupid question, but did you google how others who live in you country are converting fiat in bitcoin or another altcoin?
On trading, I'm testing short term trading, buying and selling a currency in minutes; Poloniex is good for that; They handle high volumes; They claim to be the biggest in their segment; I've written a couple of posts on it in my series "my transition to enlightenment".
Thanks for the insight, @edje! Sharing experiences is just the best way of learning :) "Everybody you meet in life knows something you don´t." I love that principle.
I´ve got a Poloniex account, too, where I have transferred a small amount of steem in order to cash it out. But now I´d like to do it the other way around - so pushing some more money from the outside into steemit.
Yes, I have googled that but I already knew the results before I started :) I live on the Canary Islands (very small archipielago in the Atlantic Ocean close to Africa) where we don´t even have a good working internet connection. So you may imagine how advanced the technological process is when it comes to crypto currencies. People here don´t even know what that is :) Maybe it´s a market segment I should conquer... ha!
I found localbitcoins.com with some mentioning of local Bitcoin purchase possibilities in the Canary Islands. Try that one to see if someone is physically available at your island. This are probably private people. I also noticed ExpacioBit (espaciobit.com.ve) being active in the Canary Island or at least it looks like it; I think this is a company.
Yeah I have tried localbitcoin but haven´t found anybody close. I may have a look from time to time to see if somebody enters.
EspacioBit is new to me - I´ll definitely have a look at it! Thank you :))
Let us know it you succeed. Otherwise, when I managed to deposit Euro's for Bitcoins, I maybe able to help you out. BTW, you have SEPA? You must since you part of the EU. Than there are so many exchanges in Europe, like the ones I mentioned in earlier comments. I would check the one in Malta out, or the one in the UK. Once having Bitcoins, you may transfer them to your Poloniex exchange and start trading there.
Sure, I will let you all know! :)
I did a SEPA transfer to Kraken, so yes I am able to proceed like that.
However, the fact that you can do SEPA doesn´t automatically mean that the network where you send the money to will accept it.
However, I won´t give up and (hopefully) post the success story soon here on steemit :)
Agree, but the EU exchanges should be better equipped working with EU banks than Kraken which is San Francisco based (as far as I know) so I suppose quite focussed on the US system rather than the European systems and banks. In the Netherlands all our exchanges accept our Dutch standard bank transfer methods, so it'll be very easy for me to transfer funds from my Dutch bank account to a Dutch exchange and get Bitcoins for it. But, although I do not want to hide anything from government, I like to see how long I can be kind of hidden while being in crypto land, so I like to explore alternative options.
Kraken is located in London and they have a German bank account, so the transfer is done within European territory.
If Kraken doesn´t work, I will try bitcoin.de which has been recommended by the German steemit users.
There will be some point of time when I will be registered on ALL existing exchange platforms in Europe :-))