Let me start with this, do not consider using bitcoin as anything else but a store of value these days now, think gold 2.0 — if you have savings, by all means (at your own risk of course) invest in bitcoin, but please please, don’t use it for relying on it as a medium for income or spending in the short term.
The price of miner fees is straight up killing any usefulness of bitcoin as a cryptocurrency — everywhere you send, load, cash out, turn it into something else you will find yourself lining the pockets of the miners and the massive network fees that are currently happen (december 2017, I’m sure it’s going to get worse before it get’s better)
Aside from the large fees, the sheer amount of scaling a lot of the major services and exchanges are having to do is unprecedented, what with even mining companies like nice hash getting hacked for $70 million dollars also recently I would suggest massively to consider paper wallets or a decent trezor or ledger nano s — just take your lump sum, stick it in one of those badboys and then hide the damn thing in a safe place you can remember — heck why not stick it in a safety deposit box somewhere maybe :)
if not stated some of my photos are from unsplash a free site for images, also you can grab some cool images from nomad.pictures a site i run with @dayleeo to get pictures out of the camera roll and onto the web — Photo by Muhammad Raufan Yusup on Unsplash
You might remember that I had recently also taken a job with a great startup called cheddur (I still love the guys and hope to work with them in the future) but I’m afraid our day to day relationship for the admin/cards loading side did’nt work out — I just couldn’t get the accuracy right with all the switching up and out of things I do in a day, that’s on me — I was honest and straight up with the owner and was kinda sad for a week or so that I could not just get it right but I’m glad we made a decision to move on from it quickly.
But why bring it up?
Well, I’ve realised that for me to really get the crypto currency part working for me I need a payment card or account that works something where the fees are much lower, the network congestion is not so bad or at least the verification is fast — the ideal right now obviously would be DASH but I don’t know any payment services that have an atm card or web dashboard for a card account that allows real time banking with dash — I do however see some ethereum cards coming on the market so that’s my next task.
As it is right now earning funds in bitcoin does not work for regular release of funds, the fees don’t make it worth it for micro transactions, I’m interested in speed and low networking fees, especially when the cost of my projects been paid in crypto has to be worth while taking into account those fees — I do have a bitcoin only payment set of website project concepts happening in the new year but I’ll be breaking those funds up into alt-coins that give me the ability to use those funds across powered up cards so we can test their reliability, customer support and features.
Right now I’m doing a little bit of an experiment with the revolut card which I won’t go into but let’s see what the result of that is in the next few weeks when we have to do some swapping out of crypto into different funds — as a short term cold wallet of sorts it could be a good way to flip funds into crypto and back out again hopefully with some gains, let’s see — bitcoins in a bit of ‘no mans land’ at the moment on the markets today, I’m still confident of seeing $20k plus by christmas if not a lot more depending on the ‘giving of bitcoin’ on Christmas Day this year, will that be a thing now? :)
I’m realising that I want to take this somewhere and I’m going to start a new account and video show called @cryptocards (I’m even learning premier pro 2018 cc from adobe to get better at video editing in 2018) so follow me over there for updates, so far on the list of card services I’m going to be checking out are the following.
https://uquid.com
https://mona.co/
https://tokencard.io
https://www.tenx.tech
https://www.bitwala.com/card
https://shakepay.co/#/
https://www.coinjar.co.uk
Feel free to send me some details in the comments if you are using any crypto cards for payments or crypto banking providers that you are interested in, I’m looking at getting an account with all of them and testing their features out and put together a scoring system similar to the way current youtube videos are for reviews.
I think it could make a good ‘internet’ video and with the uptick in interest in cryptocurrency I’m hoping quite lucrative for me as well as a content creator to maintain doing it (yes, I’m thinking decent video intros and the like) as it’s something I’m passionately into as a content creator is how we transition into this world of crypto paid projects and the access to those funds in the real world.
i've only just realised it ;)
Expect to see the first video in early 2018 :)
(Follow @cryptocards for future updates for crypto in the trenches)
