It's been almost a year since I bought any type of crypto and the last time I did I thought I bought the dip for ETH when it actually went down to 100% from my purchasing price in months, and honestly during the times we live I don't have any will at all to buy more cryptos, and honestly don't have the funds either to make any significant purchase.
A friend of mine did bought himself one Bitcoin recently, and he did that using Poloniex which is no longer my favorite exchange, but he didn't tried that using this exchange or any other one that you would probably heard of from th efirst time. He intended to do so through trade.bitcoinromania.ro/ which is some sort of national crypto exchange that we have. You don't have too many purchasing or selling options but that was his choice for many as such transactions.
This time though he couldn't do that any longer. He initiated the purchase and then tried to transfer the money to the company. I don't know why but they have a pretty odd way of purchasing and selling crypto, and you simply can't do that the easy way with a visa or something else and direct purchase what you want. When the transfer was denied he didn't tried the second time so he won't end up buying two Bitcoins, instead of one, but it was definitely something from the bank :))
The next day a lady from that bank, called Banca Transilvania, the largest bank in the country wearing the Transylvania name quite proud I would say, phoned him and asked him if he was intending to buy Bitcoin using his bank account and he said yes. Well if you try again, we'll lock your account... was the lady's reaction, so he went to Poloniex and done the job with no bullshit involved.
What do you say about that?... I wouldn't expect something like this in 2020, in a country that is an EU member and claims to have been defeated communism for over thirty years. Personally don't like this type of attitude and that's why I use banks as rarely as possible. How can a bank decide with my own money what I can and can't do with them... Fuck them!
I honestly wasn't too much of a fan of crypto as a payment currency and haven't been in the position of using crypto for any type of purchase but hearing of such an attitude I am thinking seriously to buy myself a Revolut or Monolith card. After all, my only reason to own a bank account is to purchase and sell crypto... so again... FUCK THE BANKS.
I haven't used the above mentioned Romanian crypto exchange to buy crypto, and don't own a bank account at Transilvania Bank, but if I'll ever get this type of attitude from my bank I will ditch it the following day. I don't need this shit, and honestly tired of too much control over my freedom from entities and governments that have never ever done anything good for me, or helped me in anyway. As far as I know I'm not owned by anyone and neither my money, so why should anyone decide on what I can or can't spend my money.
Probably in your countries you don't encounter such situations, but you know... Romania... we claim to be a communism free country but the reality contradicts it. The thing is that my friend bought his BTC after all, through Poloniex, and he's thinking to get himself a Revolut card as well.
To be honest my plan for swing trading cryptos was to always cash them out through a bank account and use the money for my needs, but have changed my view 180°. I'd rather hold any type of profits, that I get in the future from my crypto investments, on USDT/USDC on some wallet and transfer as much as I need on a crypto card that allows me to pay for things using crypto, than to pay the banks commissions to tell me what to do with my money. No sir... they've gone too far with this fascism.
Curious though about the digital dollar and euro and how much of freedom and privacy will they offer us, after the pandemic tried to control them as much as possible and considering that they will be born as a result of this pandemic. Hope it won't make things worse... but more about that in a future episode.
Thanks for attention,