It's my main avenue to crypto from fiat. It's probably yours too. Because it's the only way.
Coinbase is convenient. Until it's not, of course. We've all experienced it at times of high volume. They've got the Shift card, which allows you to spend your crypto anywhere. They're definitely the biggest player in the crypto exchange world.
But is that a good thing?
Does it concern anyone else that our main avenue of exchange is cooperating so much with the government? Or that they're essentially monopolistic?
I've heard reports this week that they're not allowing folks to send to new addresses. I've not confirmed it myself, as I have no funds in coinbase, but that's pretty alarming to me. Not even sure how that's possible though.
Which leads us to my question. If there's a problem, what solutions are there?
I'm about to try bitshares. I only heard about it a couple weeks ago. Supposedly it's a decentralized exchange? Built by Dan. And there's ways to have a fiat gateway on it.
I'm new to it, and will be downloading it in just a few minutes to start playing. Thanks to @lost108 in the deej box, I'm gonna try out EasyDex.
I understand there are more decentralized exchanges, so let's all look into it together and see what we can learn. Remember, I'm still super new here; about five months in the cryptoverse and sucking up all the knowledge I can get my noodle on.
Of course, there's always mining and p2p trading. Ways to earn crypto and trade it in person are nearly endless and the ultimate decentralized exchange. People make this stuff happen.
What's more than staying relevant? Not much, but it helps a lot to make the government more irrelevant ;)
Stay relevant y'all, and be sure to suffocate the state.
Nate