Getting into Crypto Currency can be a bit of a slog, from traditional banks.

in #fiat7 years ago

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It was a simple idea. I thought there would be an opportunity, just like millions of others have been thinking during the last 8 years, to put money into crypto currency.

All I had to do was take my USD, from my traditional bank, and just get that into some exchange or other, and boom, I'd have a wallet or lots and lots of little wallets, maybe, with some BTC which I could then use to get other types of crypto currencies.

Oh well. It just wasn't going to be so simple.

First of all, I found out that residents of certain countries cannot even use many of the best websites, like eToro. Sadly I reside in one such country. As for other services like Kraken, residents of certain states in certain countries also cannot use such services. Sadly I also fit into that category.

I wasn't going to be deterred. I found a trusted person--my spouse, who was not born, like me, on the wrong side of the tracks. It only took 5 minutes to wire transfer my money into their account.

Little did either of us realize, that their bank has a policy requiring all wire transfers to be initiated from a branch of the bank, in person. That would not be such an issue, except for the fact that we are currently half way around the world from any branch of that bank.

It took us a day or two to figure out that the only way to proceed is to backstep and get the money back out of that account and back into mine, and from there, figure out other avenues.

The only way is with bill pay, which hopefully

Even if we were able to send the money into one of these online services, they all have limits, which would make it take days or weeks to actually transfer any meaningful amounts of money into the account at all.

None of these oligarch problems exist once the money is in the form of crypto currency, I think.

Of course, then there are all new problems, but at least they would not be entirely out of our control.

I wish I knew what to do, to get my money in.

I did figure out a way to at least have physical checks written to get the money back one step from that dead end bank account, but now I have to figure out a way out of this fiat currency maze.

Any suggestions?

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