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Bitcoin Trade-offs

With money and currency, and Bitcoin is no exception, there are three main costs:

(1) time/convenience,

(2) money

(3) privacy.

Kraken has some very experienced Bitcoiners at the helm. They are doing everything they can to be in compliance with regulation and have a very powerful trading engine. You can also go long or short with margin. Circle is a fixed price brokerage service that connects directly to your bank account via ACH or credit card. They are great for moving in and out of bitcoin and fiat. They also act as a Bitcoin wallet.

Local Bitcoins is slower and much less convenient with higher fees but significantly more privacy. You could also gather with a local Meetup group. But remember to be extremely careful!!! So, it really just depends what the buyer or seller wants in terms of costs they are willing to pay in time/convenience, money and privacy. It would sure be nice to find an exchange service that is instantaneous from anywhere with no fees and absolute privacy. If you find the unicorn then please let me know. In the meantime, Bitcoin entrepreneurs are financially incentivized to create services that overall costs in terms of these three areas. For example, you could join Local Bitcoins and the more people who do that the more convenient, lower fees and more private the exchange market becomes. In the meantime, there are inevitable trade-offs like everything else in life. So choose whatever you want for the situation.


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