Monday, December 17, 2018

Moving Coin to Cash

The first day of winter is on Friday, the 21st of December and we're getting a small taste of it today with a mix bag of weather; flurries, rain and then a couple centimeter's of white stuff, slowly turning mild again towards the end of the week.

In the world of digital coin, crypto winter is a common term being used at this time of year. I guess it's a combination of a slow down with investors and with Bitcoin, the 'benchmark' of coins, having dropped to it's current level.

From it's low at around $1000 USD in January, 2017 to it's high, I figure the $3000 USD range is reasonable level for it to stabilize for awhile but it's an online world of thousands of buyers and sellers with market caps in the billions. What they call Bulls and Bears respectively. So, obviously, an individual even with what they call a Whale with a few million involved, has no control of future value swings and has to adjust accordingly.

Of course with investors it's about gains and money. With a lot of new people entering this market and some folks who have been involved for a long time, it's about is how to turn a coin you can't touch or feel to money in the hand with convenience and at the lowest fees possible.

For US residents, Coinbase makes that easy with funding and withdrawing to US Banks. Now, US members can also 'withdraw' funds via PayPal with no fee.

Outside of the US, members can use credit/debit cards. Personally, I don't use credit/debit unless it's online shopping or for flights, etc. Coinbase updated; international withdrawals with Paypal is coming in 2019. That would be convenient for me here in Canada if and when that option becomes a reality.

Currently, I bring in Bitcoin to Coinbase from my online ventures and like my other 'Wallet' with, I use a Canadian based payment processor to move my Bitcoin to cash and on to my bank.

Closing for today, I rarely turn down an opportunity to receive free coin or what they call an, 'airdrop', so I followed the prompts with and I received $25 worth of Stellar a couple days ago where I was in the queue. With a current increase in price as of now, I own more than the original $25 worth and can exchange it to Bitcoin as an option on for a current gain if I wish.

Stellar's stats and current value you can see here

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