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What country are you from and how was your experience when getting started with crypto?

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by COINS NEWS 174 Views

Hey everyone, as a non us citizen it always feels bizarre when I hear my US friends talk about how they got into crypto seamlessly.

It was not the case for me (and still isn't). Coming from Australia, using coinbase is out of the question when you want to transact anything above a few hundred dollar since it only allows you to buy with a credit card and no withdraw options at all. Binance is also about 50/50 depending on who I talk to (been waiting for my verification email to sign up for 2 months now). All the other exchanges are pretty much hit and miss depending on what coins and networks they support.

My fastest solution was to get verified with all the exchanges and then just pick which ever one has the coin and network I need to transact with. Getting KYC'd into multiple different exchanges isn't great either.

Spoke to a friend from Canada and his experience is also similar. Trying to turn CAD into any crypto is very problematic. Cards get denied/softwares give random errors. Most trading exchanges have $500 limitation and don't work with wire transfer from Canada.

On top of that when he got into crypto in 2016 he was forced to use Quadrigacx to purchase crypto with CAD. Ended up losing all his funds in the process when the exchange shutdown. The other option to turn his CAD into Crypto is to use localbitcoin which is a tedious process.

He's just now coming back to crypto in 2022. Most popular exchanges wont let him buy crypto with CAD and is still getting a lot of friction when trying to turn CAD into Crypto. For example He'd have no idea how to go about turning big amounts of money into crypto in a single go (say $10,000).

I'm wondering, is this only an Australia and Canada thing or does it feel like your country is also underserved when it comes to entering the crypto market? Tell me about your story!

submitted by /u/stackup_
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