EasyCoin

[George++]

My credit union is now offering its members EasyCoin as part of its services. I've briefly glanced at EasyCoin, and what it offers.

Maybe it is time for this ol' fart to use the EasyCoin features and get some digital currency when I have some disposable funds.

The one RedFox/Elby product I currently do not own is AnyStream. I have been somewhat reluctant to get it because of the ongoing issues with US customers payments. That is NOT the fault of RedFox!!!!!

Anyone have EasyCoin? I'm looking for some feedback on the ease or difficulties of using the app.

 

[Ivan]

I guess it's only an app where you can buy/sell cryptos as investment, but not to send crypto to external wallets.
Not your keys, not your money.

 

[George++]

I guess it's only an app where you can buy/sell cryptos as investment, but not to send crypto to external wallets.
Not your keys, not your money.

Thanks for the reply, Ivan.

Now that I delve further into what EasyCoin is, yeah, it is an investment method only. With a US$200 minimum deposit to open the account, along with a 2% transaction fee for each transaction.

Investing in cryptocurrency is not what I am looking for, I want to be able to use crypto currencies to make purchases.

 

[Ivan]

For US citizens, Paypal is easy for beginners. Biggest issue is you have to wait up to 5 days until the crypto you purchased is available for transfer. Another issue is their smartphone app does not recognize standard QR codes (currency, amount, wallet address, info), they expect just the wallet address, a standard QR code is an information overload and the app gives an error.

We also had some customers using CashApp successfully.

If you wanna hold cryptos in your own wallet you have to "purchase" them, dealing with an exchange like Coinbase, Kraken, Binance, Bitstamp, Robinhood. With all of them you have to make a full KYC (Know Your Customer) to be able to trade. This can be a big pain.

Once traded some crypto in an exchange, they will be in your exchange wallet. From there you can withdraw them to a local wallet - like an smartphone app or a Software like Electrum.org.

Super safe are hardware wallets like Trezor or Ledger. They both support all kind of cryptos...

 

[George++]

For US citizens, Paypal is easy for beginners

Given the history SlySoft/RedFox has with Paypal I don't believe I will use them except as a very last person on Earth resort.

I'm still rather leery of crypto setups. Eventually I will have to do it.