Crypto direct deposit from employer?

[TurboTrout]

Hey all,

I’m thinking of dipping my toe into crypto

Is there any bank account this deals I could set up where my side gig could direct deposit into my account and it would be held in crypto vs USD? Ideally also with a debit type card?


Thanks dudes!

 

[MediumSpeed]

Hey all,

I’m thinking of dipping my toe into crypto

Is there any bank account this deals I could set up where my side gig could direct deposit into my account and it would be held in crypto vs USD? Ideally also with a debit type card?


Thanks dudes!

I think you can do this with a coinbase.com. Aaccount - either your side employer can deposit direct or you can deposit from your regular bank account converting usd to crypto but you can't escape taxes on the usd equivalent...

 

[W54/XM-388]

If you are thinking about also having some kind of Debit type card, I'd say DON'T
Crypto currencies are treated as commodities.
Every transaction from one crypto to another or from crypto to USD is a taxable, reported event based on the buy value and the sell value.
You are going to be making a ton of work for yourself come tax time.

It would be best to buy it, hold it and then when you want to do any cashing out, cash out a decent sized block.

 

[TurboTrout]

If you are thinking about also having some kind of Debit type card, I'd say DON'T
Crypto currencies are treated as commodities.
Every transaction from one crypto to another or from crypto to USD is a taxable, reported event based on the buy value and the sell value.
You are going to be making a ton of work for yourself come tax time.

It would be best to buy it, hold it and then when you want to do any cashing out, cash out a decent sized block.

Anything theoretically more secure from looters?

 

[r50140]

I have used Crypto.com for about 2 years. They will issue a debit card which you can load with several “crypto” coins. I have the card, but have not used.
You can attach your checking account and move US$ in both directions.
You can attach a credit card and buy “crypto” coins immediately.
I have never had an issue with this Exchange. I also use Coinbase, do not find their site as user friendly. Prefer Crypto.com
Being familiar with this technology is a big help when navigating either Coinbase or Crypto.com
I think it’s a good idea, invest a little each payday, every month. There are fees, everybody has fees.
Some of the coins can be loaned to the exchange for interest, paid in like coin, terms of 30, 60, 90 days. I believe Coinbase also does this.
I do all this from a smart phone with Face ID and IPAD Playing with the coins since 2016, no looters yet.

 

[E. Bryant]

Spotted at the local mall:

Either crypto is about to go mainstream, or this is its jump-the-shark moment.

 

[P-Squared]

I have used Crypto.com for about 2 years. They will issue a debit card which you can load with several “crypto” coins. I have the card, but have not used.
You can attach your checking account and move US$ in both directions.
You can attach a credit card and buy “crypto” coins immediately.
I have never had an issue with this Exchange. I also use Coinbase, do not find their site as user friendly. Prefer Crypto.com
Being familiar with this technology is a big help when navigating either Coinbase or Crypto.com
I think it’s a good idea, invest a little each payday, every month. There are fees, everybody has fees.
Some of the coins can be loaned to the exchange for interest, paid in like coin, terms of 30, 60, 90 days. I believe Coinbase also does this.
I do all this from a smart phone with Face ID and IPAD Playing with the coins since 2016, no looters yet.

20 years and 92 posts, REALLY?

 

[W54/XM-388]

Anything theoretically more secure from looters?

IF your holdings are being held by an Exchange, then well...
Go back and research how many times "exchanges" have gotten "hacked" and all the customer money was "gone"...

Technically the exchange has control / cryptographic ownership of your actual digital funds.

If you want to actually have full control / ownership / keep them safe from ??? then you need to have your own wallet that you keep things in and then you only transfer some to an exchange when you want to sell them. When you buy them, have them sent directly to your own wallet.

 

[TurboTrout]

Can these be direct deposited into?

 

[marketermac]

I use SoFi, they allow direct deposit into a checking account and you can setup either auto buys of crypto or manually login and instantly buy with your direct deposit funds. My direct deposits also show up much earlier here (by 2 days in my case).

Only downside is no crypto withdraws (can withdraw after converting to USD only), but they are coming soon.

Also has a regular debit card for regular spending in USD.

Happy to send out a referral link (we both get $25) if anyone wants to try it, just PM me.

 

[r50140]

Yes, it is about to go mainstream! Before long we will be able to deposit our coins at a local bank and receive interest just like a $US CD.
I store most of my coins in a cold wallet off line. A cold wallet is not connected directly to the internet. I’ve always said not to invest more than you can afford to lose. Life is a gamble, no balls, no blue chips.

Yea, been a member for 20 years, have had better things to do than running my post count up. Spend my time playing with the coins, family, reloading, shooting. Retired now, time well spend! This is the Bear Pit, everyone gets to have an opinion.

 

[TurboTrout]

Yes, it is about to go mainstream! Before long we will be able to deposit our coins at a local bank and receive interest just like a $US CD.
I store most of my coins in a cold wallet off line. A cold wallet is not connected directly to the internet. I’ve always said not to invest more than you can afford to lose. Life is a gamble, no balls, no blue chips.

Yea, been a member for 20 years, have had better things to do than running my post count up. Spend my time playing with the coins, family, reloading, shooting. Retired now, time well spend! This is the Bear Pit, everyone gets to have an opinion.

Wouldn’t putting your coins in the gov regulated bank defeat half the point?

 

[Adam B]

I think you can do this with a coinbase.com. Aaccount - either your side employer can deposit direct or you can deposit from your regular bank account converting usd to crypto but you can't escape taxes on the usd equivalent...

fuck coinbase, when Shiba was going crazy I bought an additional $5k and they never processed my order so I lost $10k due to it. Their customer support blows and it is email only. I recommend https://www.binance.us/en/home

Just link your bank account to it and transfer the funds over.

 

[r50140]

Some may want a return on their coins, rather than just buy, hold and waiting for capital appreciation. The coins will become more and more mainstream as the smart money, big banks, investing houses, etc, learn how to make money on us, the retail investors, through these coins.

The blockchain is a public ledger. Don’t fool yourself. The government, IRS, whoever, can determine what coins you hold, their cost, your profit or loss when sold. Every transaction is recorded. A couple coins are private. Coin mining is another story, these reward coins have never seen the system so to speak. But they are taxable income, and should be reported.

 

[Inifinty]

Almost as dumb of an idea as buying land in virtual reality.

But that is catching on too

 

[Srgt. Hulka]

This guy approves your decision to use Direct-Deposit into one of his funds.

 

[Redmanss]

You won't use a crypto account like a debit card. To trade cryptocurrency, you must create an account in a crypto wallet.

Let me guess, next post will be a link to a crypto wallet? I’ll say it ahead of time, fuck off spammer.

 

[n2ishun]

Wham !






Bam!



Spam!

 

[Blue Sky Country]

Wham !






Bam!



Spam!

If a guy is trying to start a relationship/date with a girl online and he is writing all of his messages in that uncanny, robotic, and uncomfortable level of "professionalism" like the above hit and run post (no. 18), he'd be thought of as a major creep or at the very least, extremely socially awkward in no time......... Or a bot.

Even in the CORPORATE wires, people rarely send messages in that format, unless it is between prospective candidates applying for a position and the hiring managers.

 

[JJMoody]

So…. This IS still available?

 

[hkguns]

This guy approves your decision to use Direct-Deposit into one of his funds.

.........and SHE will ensure it is wisely invested for you.