Look at the text I just received from a good friend. He's a young dentist in Vancouver.
Now the question is "how do I answer him?" [This is always a problem for me]. If I recommend cavirtex, then he must persevere through the time-consuming KYC/AML procedure, link his bank account, and then still wait a week for the first transfer to clear .... Telling him about 2FA on top of this will be too much [I wish cavirtex disabled bitcoin withdrawals by default unless 2FA was enabled and verified].
I could send him over to the bitcoin ATM which is fast and easy [although unsuitable for large purchases], but then I would feel personally responsible to set him up properly with a wallet on his phone, a back-up of the seed, and a cold-storage system.
I wish we had an exchange-tradeable product like GLD but with bitcoin as the underlying
Now the question is "how do I answer him?" [This is always a problem for me]. If I recommend cavirtex, then he must persevere through the time-consuming KYC/AML procedure, link his bank account, and then still wait a week for the first transfer to clear .... Telling him about 2FA on top of this will be too much [I wish cavirtex disabled bitcoin withdrawals by default unless 2FA was enabled and verified].
I could send him over to the bitcoin ATM which is fast and easy [although unsuitable for large purchases], but then I would feel personally responsible to set him up properly with a wallet on his phone, a back-up of the seed, and a cold-storage system.
I wish we had an exchange-tradeable product like GLD but with bitcoin as the underlying
you can trade GLD without doin KYC/AML ?
you could sell him some yourself, but honestly I recommend the full cavirtex experience, sure it takes a few days to get the paperwork cleared, but once you're set... its well worth the pain.
and, its really not that hard... poeple just need a swift kick in the ass sometimes.