I want to buy crypto with Invity but feel I’m stuck in Binance
Invity seems to be the quickest and most convenient way to HODL cryptocurrency directly into my Trezor, and I really want to switch using that instead of the exchange I use mostly today - Binance, but there are some stumble stones in my path:
I have several type of coins in Binance that I feel I can’t withdraw to my Trezor yet, because the amount is not large enough. If I withdraw them now, I get a fee that may be $20 or more (for Ethereum and ERC-20 tokens anyway) and that’ll be a large percentage fee of the total amount, so I need to gather up more before I do a withdrawal.
About that fee, I need both BNB for fees and ETH to use as gas, so I can’t withdraw all ETH before I’ve withdrawn all the other ERC-20 tokens first. I also need to add some BNB now and then so Binance can withdraw fees from that pot. This means ETH and BNB will have to be the last coins I withdraw from Binance.
Trezor doesn’t support all the coins & tokens I’m HODLing so I have to wait until it does before I can withdraw them.
Invity doesn’t offer all the coins & tokens I’m HODLing.
So I feel I can’t get rid of the online exchange just yet. I feel kind of stuck in Binance. In the meantime I just hope Binance isn’t hacked so I lose my funds there.
Thanks for this one. It is not easy to withdraw, especially with Binance and absurd fees. This causes a lot of confusion when users try to withdraw tokens using BSC because of lower fees and then they can’t see their tokens in the Trezor Suite since BSC is not supported by Suite. They have to use 3rd party app to use them.
Yeah, no wonder people want to get lower fees and then try another network because it’s cheaper. It’s sad that things shall be so difficult to use. It’s obvious to me that the backbone of crypto was made by geeks and lack a lot in user friendlyness. When I started using Linux daily, back in 2004, I got the same feeling. There were a ton of things I had to read up on myself before I could even use the OS as a regular user. The same is true about crypto, I think. It’s necessary to read and learn a ton on beforehand. I’ve used years now to read about crypto (mostly about mining, since I thought that’d be the path I followed) and still I’m just a beginner. I learn something new almost every day, but it feels like a drop in the ocean.
So I think crypto tech needs several new mechanisms to ensure user friendlyness and to protect people from themselves, their own erroneous actions. We see now, when more people embrace crypto and start using it, that more faults are made too. This will only increase if nothing is done with the background tech. I have a few ideas to what needs to be done, but I’m not going to voice them when the gurus knee-jerk reaction is - “Who are you again? What makes you think you have any answers?” I’ve been there, done that. Years of trying to discuss things with the Linux royals were a waste of time.
So I await the next weekend - wow, now only 4 days left - so I can lean back and take another beer.
Shiba Inu (SHIB) skyrocketed last weekend and is still going up, due to Coinbase listing it. My 30M SHIB made me almost $500 (paper) profit in just 4 days. Now I just wait for 1 SHIB to be worth $1 so I can refurbish my house, buy a Rivian SUV and more Bitcoin.
Congrats with SHIB I am always wondering where all the coins can really get. If the bull market goes on I am sure a lot of these coins will go completely insane
Thanks! SHIB is up another 43% today so it’s still rising (currently it has made me a total of $720), but I don’t expect it to continue up much longer because some people sit with billions of SHIB coins and are likely to sell soon to take out the profit.
The reason why SHIB suddenly exploded is probably because Coinbase listed it a few days ago. So a lot of new people were aware of it and since it’s cheap they’re buying. It doesn’t seem to have scared people that Coinbase was hacked recently either …
But yeah, the whole crypto market is bullish and not only SHIB is rising. As more people gets interested in crypto there are more buyers too.
Yes, we’ve opened up for most things now, also travelling to and from other countries, I believe. I drove to Sweden last weekend and when we crossed the border there was no control of papers or anything. I think they do only random sampling. Does the Czech Republic have covid restrictions now? I’ve never been to Czechia myself but my late wife visited your country on Interrail in the 80’s and she said it was beautiful and lots of interesting History (which I love).
Not that bad, just the masks are still mandatory in many indoor public places (shops, public transport). Some restrictions in the restaurants, etc. Could be lot worse but still it’s kind of annoying.
Just when I was thinking about travelling somewhere on vacation, maybe to Czechia for a long weekend, the pandemic gets worse … again. Well, I just have to wait with those plans.
In the good news department, Shiba Inu (SHIB) has risen from the ash and is now close to fill the 4th decimal place with something else than zero. The last 24 hours it has risen over 77% and is now ranked #7 of all cryptocurrencies!
The forum has changed a bit, but the chat over a beer is still possible How have you been doing? Do you expect a bear market or do you still hold all your positions?
I expect a beer market. (hick) Seriously, I don’t know. I hold all my crypto. Haven’t sold anything at all since I started buying. I have only exchanged some crypto to ETH before withdrawing it from Binance.
BTW, I’m so tired of online exchanges and look forward to using Invity instead, but, as we talked about earlier here Invity is no real alternative to Binance or Coinbase yet. It’s frustrating … I wonder how long it’ll take for me to migrate to Invity. What do you think?
About Covid-19 and restrictions, we have now opened up almost fully here in Norway. Just a few minor restrictions remain now. Personally I think it’s madness to open up now, when the virus is spreading like wild fire. They say Omicron BA1 is “less dangerous”, based on hospitalization and death rates, but what about the 0.12% that is hospitalized anyway and may get serious long time - or lifetime - handicaps? So the government is playing a dice game with people’s lives, I think.
I will travel anyway, because I have 3 shots of the vaccine and take my own precautions. Maybe I’ll visit Prague later and taste your beer.
Invity is still very young and continuously improving. The team works on many different projects and I am sure the product will be very useful for many people in the future.
I truly hope Covid will only get weaker and the whole thing will be behind us soon it will be very beneficial for the whole society as many things are becoming very absurd lately.
Let us know when you get a chance to visit Prague, we can have the real beer together
Look what I found in Google-land! It’s a great presentation of SatoshiLabs, the company that created Trezor, and I thought others here also would be interested in reading about the company and see pictures of the people working there.
Seriously, I don’t know. I hold all my crypto. Haven’t sold anything at all since I started buying. I have only exchanged some crypto to ETH before withdrawing it from Binance.
it will be very beneficial for the whole society as many things are becoming very absurd lately.
