kencrypto.bsky.social
@kencrypto.bsky.social
Chapter 1 Conclusion - Ready for High Frequency
Mastering fiat-to-crypto gateways (banks, CEXs, offline centers) is foundational. Each 'authority' grants permission to move funds. With these reliable on-ramps secured, frequent interaction becomes feasible.
June 15, 2025 at 10:22 AM
Pros & Cons of Offline Exchanges
Offline crypto pros: instant conversion, human interaction, can bypass bank issues. Cons: significantly higher fees (BTMs often 5-15%), limited liquidity, personal security risks with cash, and limited availability.
June 15, 2025 at 10:22 AM
Offline Exchange Centers
Offline exchange centers (OTC desks, Bitcoin ATMs) offer a localized fiat-to-crypto path. While direct cash conversion is convenient, these 'authorities' still require physical KYC & often charge higher fees than online platforms. #CashToCrypto #LocalExchange #CryptoATM
June 15, 2025 at 10:21 AM
ownsides of Centralized Authority
Centralized exchanges (CEXs) come with risks. "Not your keys, not your crypto." They're vulnerable to hacks, account freezes, and regulatory shifts. To mitigate, diversify where you hold funds.
June 15, 2025 at 10:21 AM
Popular Online Exchanges
Platforms like OKX & Gate.io are major CEXs for USD-to-BTC. For frequent trading, evaluate their liquidity (less slippage!), fees (maker/taker), API capabilities (for bots), and security features. These factors define your trading efficiency. #OKX #Gateio #TradingEfficiency
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Gate.io
June 15, 2025 at 10:21 AM
Exchange KYC & Licensing
Reputable online exchanges mandate their own KYC. This dual verification (your bank's KYC + exchange's KYC) is crucial for regulatory compliance. It unlocks full trading & withdrawal access, ensuring you're authorized.
June 15, 2025 at 10:20 AM
Banks & KYC - The First Gate
Your journey to crypto starts with banks. KYC (Know Your Customer) is mandatory: provide ID, address proof. It’s how banks, as authorities, combat financial crime.
June 15, 2025 at 10:19 AM
Chapter 1 Introduction
To interact with crypto frequently (300-500 transactions/year!), you need fundamental access. Chapter 1 explores how banks & exchanges serve as essential 'authorities' or gateways.
June 15, 2025 at 10:15 AM