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Given that the house of cards finally comes crashing down, a crypto-to-fiat offramp to get your money into safety would actually be more helpful. "Overall, we
by malthaus 4y ago
Given that the house of cards finally comes crashing down, a crypto-to-fiat offramp to get your money into safety would actually be more helpful.
"Overall, we maintain fundamental optimism about how crypto can help to facilitate a more globally accessible financial services ecosystem."
Sure; either that or the tasty 5% fee from the example flow?
- impulser_ 4y agoMost exchange already provide crypto-to-fiat offramp. For example you can send cash from your Coinbase account to PayPal instantly with no charge. You can also do your bank, but obviously that will take a few days.
- bewaretheirs 4y agoI only follow this topic casually but the impression I get is that the existing cryptocurrency offramps are not dependable -- they're either nonfunctional under heavy load or intentionally shut down at the drop of a hat; there isn't an entity like the FDIC to step in to gracefully shut down failing institutions, and let customers get their money out ASAP. What would be once-per-decade anomalous events with real money seem like an everyday failure with cryptocurrency exchanges.
- wmf 4y agoEverything you've said is true, and yet the probability that an exchange will fail during the hour it takes you to cash out is very small.
- p0pcult 4y agoYou should look into Coinbase, which seems to be the exception.
- bewaretheirs 4y agoI have no reason to do so, and have better things to do with my time. I decided early on to stay away from cryptocurrencies; everything in the space I've seen ever since has reinforced that decision. Please respect this.
- lmm 4y agoFTX was the exception up until a month ago too.