Quote Originally Posted by AlwaysAway2 View Post
I am now using Coinbase to buy using my credit card.
It is easy you simply scan your passport or other ID document and provide a credit card details to use to buy.
If you sell cryptocurrency it goes into a Sterling or Euro wallet again with Coinbase.
When you first want to withdraw money they make you go through some hoops because of money laundering regs.
that said I am accumulating a modest holding of crypto as i want skin in the game for the long haul.
As soon as I have bought i transfer my cryptocurrency...Bitcoin...Litecoin away from Coinbase into a private wallet Bread wallet (Bitcoin) Loaf wallet (Litecoin) on my iPhone.
When I have say £500 worth of Crypto I get my Trezor out and move the Crypto offline to my cold wallet.
I used Coinbase to buy a wodge of etherium a few months ago. It cost me over £20 in fees just to make that deposit, which feels expensive.... if you have a US dollar bank account you can bank transfer for free. I can't find any exchanges that do this for sterling currently...

I have used kraken and bittrix to buy some alt coins. I'm investing relatively small amounts as a ultra high risk investment... won't lose any sleep if I lose it.

What I don't like is how the currency (regardless of it being bitcoin or any of the alt coins) 'erodes'.. you pay small fees every time you move it between exchanges... a fee to withdraw from Coinbase, a fee to receive at kraken, then another transaction fee to convert the currency, and a final fee to with draw again...

Fees fees fees. They add up...

I'm really not convinced any of them will go mainstream. Hard for people to understand the mechanics, and it's just so difficult and time consuming to actually get involved.