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For those in Canada, the banks and telephone lines were all down at one point. Even if you were on a different internet provider that was up, you bank would sti
by iamnotarobotman 4y ago
For those in Canada, the banks and telephone lines were all down at one point. Even if you were on a different internet provider that was up, you bank would still be down.
So the 'call my bank' option won't work here and wire transfer is no different to transferring money in crypto as they are both irreversible.
But I don't know how entering a .eth/.sol/etc address or scanning a QR code to send USDC over is harder than typing in the sort code, account number, IBAN number, etc to do a wire transfer.
- UncleMeat 4y ago> But I don't know how entering a .eth/.sol/etc address or scanning a QR code to send USDC over is harder than typing in the sort code, account number, IBAN number, etc to do a wire transfer. Because I don't possess any USDC and acquiring some requires me to open an account with Coinbase or FTX or whatever, send them dollars, and then purchase USDC. And even though sending the USDC has a low fee, the exchange fee for purchasing USDC is nontrivial (1% at Coinbase).
- jimgo84 4y agoThe fee part is incorrect. Coinbase offers 1:1 exchanges of USD<>USDC with zero fee. On FTX it's the same, USDC and USD are treated 1:1 with no fee to convert. Deposit dollars, withdraw USDC or vice versa. Aside from these zero fee exchanges, many others have significantly lower fees for stablecoin<>fiat than they do for crypto<>fiat.
- UncleMeat 4y agoFair enough. Still a nontrivial process for me to get any USDC.