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At the very least a coin should function as a coin. Over the last two weeks I evaluated the user experience of several coins based on the following steps. 1) B
by throwaway011818 9y ago
At the very least a coin should function as a coin. Over the last two weeks I evaluated the user experience of several coins based on the following steps.
1) Buy the coin on an exchange.
2) Install the wallet from the coin's official website.
3) Get a text based pass phrase or private key so that I can restore the wallet at any time from a paper backup.
4) Transfer money from the exchange to the wallet.
5) Restore my wallet on another computer using step 3 and verify money from step 4 is present.
6) Transfer some coins back to the exchange.
Ripple only passed steps 1-3. It failed for step 4, in the sense it was a bad user experience, because you find out the wallet will cost you 20 XRP which you can never get back ($40+ when I tried it). It failed step 5 because the website suddenly stopped letting you download their wallet, which is still in Beta, even if you agreed to all the popup warnings asking you to accept the risks.
Some other results...
ADA/Cardano: I tried installing their wallet 5 times on 3 different computers (macOS and Windows 10) and just got random errors or hang ups. I got one wallet to work out of 5 attempts and was never able to restore that wallet from my pass phrase.
ZEC/ZCash: The macOS GUI wallet often crashes immediately. When it didn't crash it was easier to find a "donation" address than my own public (send to) address.
PIVX: Fails step 3.
Verge: The video at the top of their website to "learn more" before installing the wallet is beyond words bad -- I couldn't bring myself to perform step 2.
NAV: Great, passed all steps. Just not sure how it will compete against Monero long term.
Monero XMR: Looks good so far. But my exchange (Binance) charges about $15 for each transfer to my wallet. Transfers for most coins cost under $1.
ARK was absolutely the best experience. Passed all steps first try and took very little time. I really loved the UX and UI.
- whataretensors 9y agoRe: PIVX I think you can just run `dumpprivkey` in the console.
- umanwizard 9y agoBinance is famous for overcharging for withdrawals — the fees you paid to withdraw XMR aren’t a property of XMR, but of Binance.
- justboxing 9y agoI did not know that. Thanks! Binance CEO Changpeng Zhao recently stated that they have only 20 support agents handling over 25,000 tickets every day. That's nuts. Why wouldn't they hire more? Minimum wage? > Binance receives more than 25,000 support requests (tickets) every day, with a 20 agent support team, that means each agent can only spend 20 seconds or less on each ticket. Unfortunately, as a result, we have a backlog. Source: https://www.linkedin.com/pulse/binance-q2-changpeng-zhao/ https://www.linkedin.com/pulse/binance-q2-changpeng-zhao/
- dahx4Eev 9y agoWhich Ripple wallet did you use?