Cryptocurrency

[Okokok]

Bennylava thanks for sharing the process. Way too many hops for me to bother.

[BeReel1010]

I use cash app and I love it. It’s so simple to use and I get & withdraw my BTC instantly, I haven’t tried to withdraw to make any payment. But I withdraw to diff wallet and send from there. I wish cash app had a payment option. I mean technically you can withdraw to someone else’s wallet so it’s like a payment, but from what I’ve read and researched people have been banned by doing so. I would be too upset to get banned so I haven’t taken that risk yet. I like xcoins too, I didn’t have to upload Id or provide tons of info.

[inedibleflower]

It’s not really a great idea to keep all of your BTC on an online app unless you intend to spend it right after you buy it. If you are looking for a more secure app I would suggest something like Smart Wallet. Or if you want to be even more secure, store you BTC offline on a device like a Ledger and then transfer the money instantly when needed. I would especially recommend this if you have a lot if money BTC

Thank you for this! I've been dipping my toe into BTC/ETH/LTC and I didn't want to keep it in the exchange that I'm buying it from. This has convinced me to keep my crypto safer in an offline device.

I advise everyone to use crypto, even if it involves learning new methods of money. It is the future, because payment processors will continue to prevent you from being able to give your hard-earned money to companies that you want to support. Crypto, even if banks try to regulate it, will always find a way.

[Bubba Gamps]

I use Coinbase, but my funds are not available to transfer for about a week. The bitcoins are available to trade, if you want to sell them, but not to send to anyone. After they are available to send, I transfer them to Electrum wallet to spend. There are fees for both transactions, but I have been lucky in the sense the value has always gone up during the holding period. I think with the uncertainty in the world today with COVID-19 and the election looming the value will continue to rise. In addition, some vendors even give a discount for using bitcoin which offsets the fees. Buying and sending Bitcoins are a little confusing at first, but easy once you get the hang of it. I'm going to have to check out the Coinbase Pro.

[inedibleflower]

Coinbase sucks. I recommend smart wallet for instant transactions. And as I stated above you should store your currency on an offline device like the Ledger Nano which will link up with smart wallet for easy transactions

I was just looking at the Ledger Nano X! Your recommendation has convinced me to purchase that - I really like the idea of keeping my currency offline until I specifically want to connect and send/receive. And I'll be using smart wallet to do that!

[Bubba Gamps]

I have a bitcoin account with coinbase and I had to initially wait for the funds to be available to send (5 days). When the funds became available, I placed a send transaction and I received a message that for security reasons there would be a 72 hour delay before the funds would be sent due to security reasons. That's a total of 8 days to transfer funds. I received an email confirming the transaction and to contact them if I didn't request the transfer. What can they do in 72 hours that they can't do now. I had to go through a two step verification process to initiate the transfer in the first place. Can anyone recommend another user friendly app where I can purchase and send Bitcoins immediately?

[Bubba Gamps]

Right back at you FishFarmer. I miss the old days when you could use less technological forms payment.

[Tigertail58]

Where does the group see cryptocurrency in 3 years? An historical curiosity or vigorous and widely used?  Are there too many versions?
Can there really be a currency that is without any regulation at all?

[inedibleflower]

Where does the group see cryptocurrency in 3 years? An historical curiosity or vigorous and widely used?  Are there too many versions?
Can there really be a currency that is without any regulation at all?

I see many Layer 2 protocols being built on the Ethereum network already (Loopring, Polygon). Those will likely be used in NFT platforms, which are taking off in the same way as physical trading cards and mystery boxes have in the past.

Other crypto is being used for microtransactions in video games already (and the networks are going through growing pains).

El Salvador continues to add Bitcoin to its coffers on a regular basis.

Visa (the payment portal) is investing into multiple crypto types in a big way.

I definitely do not see crypto as a passing fad anymore (I believed this about Bitcoin 10 years ago)!

[barq2]

I see many Layer 2 protocols being built on the Ethereum network already (Loopring, Polygon). Those will likely be used in NFT platforms, which are taking off in the same way as physical trading cards and mystery boxes have in the past.

Other crypto is being used for microtransactions in video games already (and the networks are going through growing pains).

El Salvador continues to add Bitcoin to its coffers on a regular basis.

Visa (the payment portal) is investing into multiple crypto types in a big way.

I definitely do not see crypto as a passing fad anymore (I believed this about Bitcoin 10 years ago)!

I totally agree crypto is more than a fad and I think has a real chance of helping micropayments. The future depends on whether governments heavily regulate the markets. My expectation would be that using crypto will become more common as the technology becomes easier to use. But right now if you want to buy bitcoin with a credit card you have to jump through a lot of hoops. That type of thing has got to become easier.

To work as a currency there needs to be more stability... right now there are too many stories of someone buying the cyrpto they need and by the time they do the transaction it's no longer enough. That's put a lot of people off. I suspect bitcoin will continue to be volatile so we might see the emergence  of crypto currencies that are more stable.

Along the way I see a lot more potential fraud, especially with NFTs.