My understanding is that these places make buying and selling seem to be instantaneous actions. But in reality they temporarily issue you an iou until things settle, sometimes in their favor where they pocket the difference and sometimes not in their favor where they cover the difference. Thus whenever their customers all want to either buy or sell they have to refuse orders until temporary transactions settle…
Discussion
It started when they all competed with the “free trades” message years ago.
Play the float.
Nothing in life is free. Amazing how you learn that to be 100000% true the older you get.
So, what's the game plan for this bull market, if it's not peer to peer, then I suspect simply having access to several different exchanges to have access to the market.
I just have an issue with the mainstream ones wanting KYC and my mistrust with how they will use that data for themselves and other entities.
Decisions, decisions..
My plan for this bull market started in spring of 2019 when I upped my DCA’s and eventually stopped using coinbase and Gemini…for river and swan.
Smart plan. CashApp is good too. Then immediately move out. Within seconds to cold storage.
I leave some on exchange purposefully. Why? They can send you tax forms if you leave it there and need to sell…I haven’t needed to sell since 2019, but if something unexpected happened, it’s like a backup savings account.
Interesting. 🧐
Look into CashApp. Good experience for me so far & they have ok wallet functionality (held in cold mostly).