Bob just discovered cryptocurrencies. He analyzed the cryptomarket and found out about a cryptocurrency which could soon rise in price. He decided to invest in it and hopefully receive a profit from it later. But there are some problems on the way:
Bob has heard some of the problems with centralized currency exchanges. There is a chance he could lose or even have money blocked.
Buying cryptocurrency could be a tricky process with many operations, transactions, transfers, exchanges. And there is always possibility that something will go wrong.
Many exchanges ask to share personal information like a scan of personal ID. However, Bob doesn’t want to risk his privacy on unfamiliar platforms.
Lastly but not least, the commission per transaction could be quite high.
More than 5%
|Maintain balance in exchange|