Filou on Nostr: It doesn’t really take any extra ‘work’ to buy from a different exchange ...
It doesn’t really take any extra ‘work’ to buy from a different exchange though. Kraken (for example) only takes 0.16% fees, and it takes the same amount of time/effort to buy bitcoin there instead of cashapp. On a $1000 purchase that’s an extra 70,000 sats or so (at current exchange rate). Not too bad.
Or think of it a different way: I can pay 2% on cashapp the ‘easy’ way -OR- I can do the work as you put it and buy no-KYC sats instead at a pretty similar 2-3% premium.
So basically, if you’re going to KYC anyway why not buy cheaper bitcoin? Or if you’re going to pay a premium, why buy KYC coin at all?
Published at
2023-03-15 05:08:05Event JSON
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"content": "It doesn’t really take any extra ‘work’ to buy from a different exchange though. Kraken (for example) only takes 0.16% fees, and it takes the same amount of time/effort to buy bitcoin there instead of cashapp. On a $1000 purchase that’s an extra 70,000 sats or so (at current exchange rate). Not too bad.\n\nOr think of it a different way: I can pay 2% on cashapp the ‘easy’ way -OR- I can do the work as you put it and buy no-KYC sats instead at a pretty similar 2-3% premium.\n\nSo basically, if you’re going to KYC anyway why not buy cheaper bitcoin? Or if you’re going to pay a premium, why buy KYC coin at all?",
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