Buying Cryptocurrency, Coins, Guide, Important

Life without Dogecoin: From BTC-Alpha to EXMO via TRON…


btc-alpha

BTC-Alpha  is not some parody on MasterCard‘s logo; it is a boutique-ish cryptocurrency exchange, specialising in assets which other exchanges frown upon overlook.

BTC-Alpha gained popularity during the U.Cash craze, as it was one of the few exchanges which has accepted the listing of the asset.

Read our U.CASH article, describing the drama surrounding the story:

PREVIOUSLY ON…: While stocks last… 100% free, ready to trade: Universal Cash (U.CASH) tokens.

Since we got fucking tired posting random shit about Cointiply’s Mining Game were in need of funds for another project, always had doubts about BTC-Alpha‘s longevity and wanted to test the Doge-free life, we recalled that we had some currency left from the successful sale of U.Cash to USD on BTC-Alpha. Question was – how do we circumvent the fees?

btcalpha

Problem: BTC-Alpha does not list Dogecoin. Why is that tragic? Read our Basic Knowledge: Dogecoin article for further details.

READ MORE: General Knowledge: DOGECOIN

Well, when there’s a will, there is a way…

Browsing through BTC-Alpha‘s listings, we stumbled upon TRON. Perhaps, if we’d spend more time researching, the search would yield a more economically viable transfer method (any ideas, dear readers?), but, hey, we were not speaking hundreds, thousands, or millions, so purchasing some TRX on BTC-Alpha to transfer it to EXMO (which, thank Ho Lee Fuk, supports Doge) seemed good enough.
crypto to fiat
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Suffering a trade commission, a withdrawal commission of 5 TRX ($0.13), we successfully deposited the remaining TRX to a newly-created EXMO TRX wallet.

tron
Source: Coinmarketcap

The transaction took about an hour (timezone-related figures aside), which is not bad at all.

TRON transactionPros:

BTC-Alpha is a shady operation. It still works with CCRB. Nuff said. Withdrawing funds was a relief.

READ MORE: CCRB Giveaway Scam: “Refer and Get Zero”.

1. EXMO is a legit operation. 0% deposit fees – great.
2. Although we missed the U.Cash pump-and-dump, we still salvaged something.
3. (for those unfamiliar with TRON) An encouragement to learn more about a new currency.
4. Proof that the world will survive without Doge. 

Cons: 

1. No Doge? Really?
2. 5 TRX is a steep fee.
3. Unless the plans are HODLing, the next question is converting the TRX to a wider-used currency. Since EXMO offers only the following TRX pairs:..

exmo trx
…a user is bound to pay trading fees upon trading fees. Plus withdrawal fees.

Madness… Madness? This is Crypto!

Lessons to be learned: 

– Every exchange has its own system of fees. Some charge deposit (!) fees. Others charge high withdrawal fees (“for the miners” – bullshit – for their pockets). Earned some DASH or Litecoin on MoonDash or MoonLitecoin? Feel like going to conquer Binance? Hold your horses. At best, you will sell some currency and be left with “dust” (amounts insufficient for making a trade or withdrawal). We can only imagine the number of inactive accounts full of dust. As keep believers in the goodness of human nature, we assume Binance will want to refund every user…

Dogecoin solved a lot of problems; converted to Doge, fees were ridiculously low (1 Doge per transaction). Doge was (and still is) so cheap, even dust can be traded for Doge. Oh well, in BTC-Alpha’s eyes, the system was too socialist.

Conclusion:

* In the cryptocurrency market, one should always have an exit strategy at all times. Ideally, a number of exit strategies.
* The route “from a balance on a wallet of an exchange to cash in hand” should be pre-planned, tested out and regularly stress-tested.
* Avoid the gathering of “dust“.
* Worth with exchanges you trust. Know which exchanges to trust. Strike that. Do not trust anyone. Binance was still trading a currency while the currency’s creators were already in handcuffs, arrested for fraud.
* Create and maintain an “investment” portfolio! We previously recommended CryptoCompare; although it is a wonderful resource, it is not without its flaws. One can create a much simpler-looking portfolio with all necessary functions on resources such as ChasingCoins.
* Coinpot, a faucet aggregator for the seven Moon Faucets offers an internal converter between the seven currencies it represents, as well as a fee-free withdrawal (above a certain number). Although it is not a proper wallet and the fairness of the exchange rates is questionable, the 0% withdrawal fees is cryptocommunism.

Buying Cryptocurrency, Coins, Editor's Choice, Faucet News, Giveaway, Guide, Markets, News, Signals, Tokens, Trends

Coinpot Tokens’s Price Today vs. One Week Ago

coinpottokenpricetoday

PREVIOUSLY ON: Coinpot Token’s Worth in August: Conversion Rates, Fiat Value… Future Price

As Bitcoin Falls as low as 6094.47 USD, and in light of our in-depth analysis based on last week’s data, more so are we interested in Coinpot Token’s Value, Worth and Price.

Conversion: Coinpot Token to:..

Bitcoin Core at the exchange rate of 0.0000000160: 100 Coinpot Tokens would buy us 0.00000160 BTC. (a week ago – 0.00000135฿.)
Bitcoin Cash at the exchange rate of 0.0000001778: 100 Coinpot Tokens would buy us 0.00001778 BCH. (a week ago – 0.00001380 BCH)
Dogecoin: at the exchange rate of 0.0413776707: 100 Coinpot Tokens would buy us 4.13776707 DOGE. (a week ago – 3.41933771 DOGE)
Litecoin: at the exchange rate of 0.0000017325: 100 Coinpot Tokens would buy us 0.00017323 LTC. (a week ago – 0.00012928)
DASH: at the exchange rate of 0.0000005927: 100 Coinpot Tokens would buy us 0.00005927 Duffs (a week ago – 0.0000004724)

We do not believe we need to comment upon the difference in value of an asset, the acquisition of which is automatic.

If you are thinking “fiat”…

Have a plan. Consider low fees: Changelly and EXMO. While EXMO is an exchange, with all its pros and cons, Changelly is good even as a source of information as to how much fiat your Coinpot Token balance is worth.

changely

We will, however, mention that Changelly is an excellent exchange service with a \ transaction fee. A wallet-to-wallet direct exchange will convert anything and everything into fiat.

EXMO is an established cryptocurrency exchange with 0% deposit fees for all five Coinpot currencies.

P. S. By no means are we recommending making any financial decisions. Please contact your financial advisor regarding such matters; DMYF is a portal dedicated to entertainment and education.

Buying Cryptocurrency, Coins, Markets, News

The Korean phenomenon, LitePay shuts down and more.

Reportedly, a third of Korean adult population owns cryptocurrency, which explains the public uproar which followed the news of ICO regulation. South Korea benefits from its geographical proximity to China and as we see multibillion-dollar corporations funding exchanges, we understand that Malta’s ambitions to become a leading “cryptonation” are of the “in your dreams” category; Binance or not.

The LitePay startup, which ambitiously promised to introduce a debit card, wallet, etc., thus finally achieving a long-standing dream of integrating a currency into everyday payments and which fuelled the LiteCoin market price for days, has been denounced by Charlie Lee and  ingloriously shut down. “I am sorry for having hyped up this company and vow to do better due diligence in the future.”, – Charlie Lee.

CoinBase is by far not the only exchange which allows its users to effortlessly buy Bitcoin with a credit or debit card. EXMO, an established exchange with only a few pairs, but impressive trade volume, proportionate to its size,  as well as low fees. A partnership with Simplex, a payment processor, allows EXMO users to deposit EUR, USD and PLN straight to exchange using VISA and MasterCard.

“Simplex – is a payment processor providing the online payment handling, ensuring the integrity and security of the operations, and also contributing to fraud prevention within the financial sector.”

exmo buy bitcoin visa mastercard

Register at EXMO.

Read More: Continue reading “The Korean phenomenon, LitePay shuts down and more.”

Important

TOP-5 unusual offers for sale in Bitcoins

EXMO has released an entertaining article detailing five unusual items to spend your Bitcoin on:

The exclusiveness of cryptocurrency has initiated the appearance of the no less exclusive offers for asset sale with bitcoins on the market. The experts from EXMO have studied a lot of offers and chosen the most interesting ones.

Submarine

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A yacht paid with bitcoins is not going to surprise anyone today. What is really interesting is that you can buy a submarine with a little more than 200 bitcoins and dive to the depth of no less than 300 meters.

Orbiter

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For those, who are not inspired with sea depths, there is an opportunity to explore the depths of the universe with the help of mini-satellite at a cost of only 110 BTC. You can even try the system of 24 orbital apparatus at a cost of only 2000 bitcoins. Additionally, the cosmic amateurs can make an unforgettable journey with the help of Virgin Galactic. The journey will cost – $250 000; it can also be paid in BTC.

Candies

candybitcoin

The original candies with almost any imaginable and unimaginable tastes can be purchased with bitcoins. Those, who ever wanted to try candies with the taste of blue cheese, passion fruit, chocolate bacon, or absinth won’t leave the online store of californian candy startup with no purchases. Considering the average price of a candy (about $8) and cost of bitcoin transaction, such an offer does not appeal much. However, the exclusiveness of the offer makes adding this startup to the rating worth.

Citizenship of Vanuatu

bitcoincitizenship

Vanuatu, the insular state says to give citizenship with all the rights to those, who send bitcoins in the equivalent of 200 thousand USD to the state treasury. By the way, Vanuatu is a Pacific state in Melanesia, located not far from Australia and Fiji. 

Carnivorous plant Dionaea muscipula

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The American web-shop offers the opportunity to purchase with bitcoins a carnivorous plant Dionaea muscipula, which can catch and eat the insects. Venus flytrap (another name of the plant) can also be cultivated as an indoor plant. However, the insufficient moisture and too high temperature cannot ensure the normal plant cultivation. The plant can also be cultivated as an indoor plant. It is quite uncertain who may buy it, but still, demand determines supply.

Additionally, the attractive investments also appear among the offers. Generally, these are personal estate (yachts, premium-class cars) and real estate (villas, small islands), jewellry, and business. One of such offers has been described in the previous article. It is up to you to decide what has a greater investment potential – business, or crypto-deposit.

🙂

(the article is intellectual property of exmo.com)
(EXMO is an established cryptocurrency exchange with a high daily volume, despite focusing on a few selected currency pairs, in comparison to other exchanges, such as Binance. We consider it a user-friendly and professional exchange, perfectly suitable for those intending to diversify their trading spectrum)

Register at exmo.com