No. of Recommendations: 6
There is a 1H23M documentary on Netflix called Banking On Bitcoin. Interesting to watch to understand the history of it and where it came from.

I opened my first Bitcoin account on Coinbase back in 2013 with the plan to accept it on our ecommerce site but never completed the set up. Have recently started buying a small amounts of Bitcoion. First buy was on Coinbase, but they do have a hefty 1.5% commission when you buy or sell. I have since then transferred everything to gdax.com that is actually owned by Coinbase and is a trading platform with zero commission if you put in limit orders. For market orders you pay a 0.3% commission. Trading volume is high and apparently gdax is used by professional Wall Street traders to buy and sell Bitcoins, Etherium and Litecoin.

The way I look at it, putting a very small amount of money into it can not hurt. Also purchased a Ledger Nano S Crypto wallet to transfer some bitcoins to cold storage and play with it to learn. I think I will try to buy a sandwich at Subway and see how it works. Still trying to learn the ins and outs of it. I have also reinstated my ecommerce business account on Coinbase to start accepting bitcoins. For businesses to accept bitcoin the risk is near zero. You can set it up just like a credit card merchant processing account and then choose to exchange your bitcoin sales to Dollars or Euros the moment you receive a payment at the current rate while paying a 1% commission. Comparing to Visa/MC commission of over 2.5 to 3% for ecommerce, bitcoing processing is a lot cheaper. This will all be done using Coinbase as the processor.

Mehran
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