Fiat to Steem! Netcoins App Demo and Discussing Recently Added Credit Card and Fiat Options
You may not realize that Netcoins has a new app that allows for more fiat options to Steem and other crypto currencies, so I'm here to fix that with a slightly ridiculous video! 🎉
So, you may remember the last video that I did that demonstrated how easy it is to buy Steem from a Netcoins Virtual ATM with cash. The spread of these virtual ATMs is still lacking in the USA and overseas when compared to Canada, so it's about time we had some good news for everyone outside Canuckistan~ I'm officially bringing it today.
The Netcoins app allows for fiat to Steem purchases via wire transfer, in native CAD, USD and EUR currencies. There is also the option to purchase using your credit cards if you live in the US or Europe. Kind of a big deal!
This video is decently long and gets into detail, so here is a handy TL;DW (too long, didn't watch. I'm still getting my vlogging legs under me, so this is an easy way to skip watching me hand talk wildly for fifteen minutes but still get the gist.)
- KYC is simple (ID + Proof Of Address) and is actively being improved on
- Crypto is transferred directly to your wallet, so it is not held on a middle man site
- Fees are low at 3%
- You pay in native currency, so no dings on conversion fees
- You can fund in large amounts, but can spend in smaller chunks as you see fit, directly into whatever alt you prefer, which means no unnecessary waiting/movement through 'main' coins
So, what do you think about the process? Is it easy?
It is really, really simple. There are short waits for KYC and funding, the interface is clean and clear, and the communication is fast and straightforward. The Netcoins team are very good sports; because since they are located in the same province I am, I actually went to their office for a sit down chat. We talked a lot about how engaged the Steem community is and how we can benefit from these expanding services. They actually made some changes to the app processes based on my feedback, which I also find really valuable...The fact that they're looking for our feedback is a great way to provide great service, and therefore be successful — win win for all of us. If you have feedback, questions, or comments, please do leave them here! I plan to discuss more with them after this video makes the rounds, and getting your opinion is key.
So, would you use this again? Do you think it's worth it?
I definitely will. For me as a Canadian, I have a few extra options including adding the company as a payee to online banking and funding via Interac etransfer, which are added bonuses. However, there are many exchanges who won't deal with US clientele, or who don't allow credit purchases, so the Netcoins app is a real boon for you as well. Because Netcoins isn't a traditional exchange, they can find the best prices from liquidity partners and meet orders quickly. While the service might not be the right fit for everyone, it's another huge step in bringing Steem and other cryptos to more people in more diverse ways, and that's kickin' rad. The more options the have to choose from, the more empowered we become in our ability to use crypto currencies the way we want. Be smart, have fun, Steem on 🖤
Thanks for watching another poorly focused rant fest! If you have any questions for me that the video doesn't cover off, let me know in the comments below.