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1. No, it's not. I can open a coibase or kraken account from my home without going to a bank branch to present myself. 2. Yes there are high fees. I wouldn't m
by spapas82 4y ago
1. No, it's not. I can open a coibase or kraken account from my home without going to a bank branch to present myself.
2. Yes there are high fees. I wouldn't mind paying them.
3. Convert the stablecoin through currency using the ATMs. But only convert the amount you need, the rest is safely stored in the stablecoin.
- jqpabc123 4y agoI can open a coibase A CoinBase account requires proof of identity conforming to KYC regulations --- just like a bank. In my experience, CoinBase is actually *more* strict than some banks. At one point, I tried using CoinBase and their USDC debit card for payouts but gave up because too many of my payees were being denied a CoinBase account. Any digital marketplace attempting USDC payouts will likely encounter the same. Crypto is effectively dead now for most *legal* currency use and the Federal Reserve plans to put the final nail in it's coffin by mid-2023. Remember you heard it here first. https://www.frbservices.org/financial-services/fednow https://www.frbservices.org/financial-services/fednow
- spapas82 4y agoVery interesting! I'll keep that in mind !!