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RE: 📌 The Fastest and Easiest Way to Withdraw Your Steem Dollars
So let's say I am a brand-new user living in the USA... What site do others use?
So let's say I am a brand-new user living in the USA... What site do others use?
I'm currently using Coinbase and it's been working out okay for me so far.
High fee 😢😢
IMO, USA = Coinbase and Circle for most folks. I use Circle for bitcoin buys because it is faster & cheaper than Coinbase for me. However, I do like Coinbase for holding some funds because you can link your bitcoin balance to a Visa debit card and spend your cryptomoney anywhere! When BTC price is actively moving up, I buy stuff with bitcoins for an instant discount. If it is flat or trending down, I use my regular inflationary dollars which are always losing value--although so slowly that only those paying attention notice. Most of us frogs don't notice the water is slowly boiling.
I agree with you mostly, however it doesn't always go up haha.
Yup, those are stacking times. BTC has been the number currency for 5 of 6 last years, so unless you bought your bitcoins at the ATH during the Goxxing, you are probably looking pretty good wallet wise, amirite?
Remember, people can use Local Bitcoins or the local trader feature in the very excellent Mycelium Bitcoin wallet, and buy BTC directly for cash from locals in your area. This is done worldwide all of the time. Also some ATM style machines are around that take cash for BTC but fees are significant. Why would you go through the trouble of paying a high transaction fee or a possibly creepy face to face trade? For those wonderful anonymous bitcoins! Your spending will be tracked if you buy them on a regulated exchange. Sooner or later.... count on it.
I'm not gonna try to talk a newbie through all of that. This video was for people that are brand new to all of this and just showed-up on Steemit because of all the buzz about it being "that new social media site that pays its posters."
Going from fiat to crypto and back is not very easy. Totally agree. Learning curve is rather YUGE. Much work needs to be done.
Lots of options out there. Coinbase, Kraken, BTC-e, and Bitstamp, are probably the most popular.
Use Mycelium Wallet, you have full control of your private keys, coinbase not.
Mycelium runs on a robust block-chain of their own and both Trezor wallet and Ledger wallet products works on mycelium. Coinbase not. Coinbase can take funds from your account at any time they feel free to do so. Mycelium not.
Ledger and Trezor are cold storage solutions for keeping your bitcoins stored offline
Mycellium has some backside server to store your encrypted data, much like my other favorite Bitcoin wallet Airbitz does ... I think that is how they keep your memo notes and sync between devices. They don't run their own blockchain... they use the Bitcoin blockchain. The one chain to rule them all!
Check out gemini.com.
Its owned by the Winklevoss twins.