deebster
Half Man Half Biscuit
There is nothing honest or reliable about anything remotely related to cryptocurrencies.
Just because you do not understand it doesn't mean it is all a scam.
The Bank of England are thinking about setting up their own version. It’s not going away but I wouldn’t bet my pension on it currently.
What the BoE are talking about is a central bank digital currency (CBDC), which is really no different at all to what we have now, except that once cash is entirely removed from society every single transaction will be monitored and if it is decided that you are an undesirable you can be denied transactions and in essence cut off from the system at will.
Bitcoin is fully decentralised, meaning it is not owned or controlled by any single entity. The blockchain that records all transactions on the network is distributed across the whole network. A CBDC will not be decentralised and its blockchain will be wholly owned and maintained by the central bank, which is a very different prospect as it enables them to keep control of it and change it at will.
As for exchanges CoinBase are known to be quite high on the fee front, and PayPal too. I mostly use BitStamp, whose fees are 0.5% on purchases (I haven't checked on sales and have never made one, so do not know how they stack up there, though I suspect they would be similar). Crypto.com state no fees but I find the prices vary slightly from those on other exchanges, effectively building in a fee for them whilst being able to claim there are none. A bit cheeky IMO.
Last edited: