Did you know you can buy crypto with your regular bank account – even if you can’t buy it through the bank? It’s easy if you know how – and this new study from DAIflash explains the fastest and safest strategies.
If you've ever tried to buy crypto before, without doing a bunch of research first - then there's a good chance that you were left disappointed.
It's not just you, and you didn't do anything wrong, it's just not as easy as it should be.
That's why DAIflash just completed a new study, exploring why banks don't sell crypto directly, the best ways to purchase it with your usual debit or credit card, and other popular strategies you can use, if you want a bit of extra security.
In the latest study, they only focused on JPMorgan and Bank of America - but if you bank somewhere else, you can still learn some useful tips, or you can find more strategy guides on their website.
In fact, the study is broken into two separate parts, since every bank is a little different. You can click here to learn how to buy MakerDAO via Credit Card from JPMorgan Chase.
I won't tell you all the details here, because there simply isn't room - but let's talk briefly about what they found.
The new study indicates that, while some banks have shown progressive attitudes toward cryptocurrency by facilitating transactions made through crypto exchanges, there are still no direct purchase options available, or announced for the near future.
However, there are several simple methods for completing your purchases securely, using either debit, credit, or bank transfers. The good news is, that they explain each of these options in-depth.
Just in case you run into trouble, the study also discusses a new dispute process, which allows traders to dispute any cryptocurrency transaction made through their bank accounts. However, due to the nature of blockchain technology, and the built-in privacy features, the success or failure of these disputes can be difficult to predict - so it's better to be safe than sorry.
That's why they don't just mention one possible purchasing option, they explain them all, the drawbacks and benefits of each, and how you can make them work for you.
The most common token purchasing method mentioned in the new study uses existing cryptocurrency exchanges that are compatible with your preferred bank. While this method is considered the simplest, compatibility between banks and exchanges can vary - so it's really only easy after you find a compatible exchange.
Not to worry though, they thought of that and included a list of compatible exchanges for each major bank, so as long as you follow their advice, you should be on Easy Street. I'm not going to go into detail about that though, if you want the information, just visit their website to see the full list.
The study also explores the option to use bank transfers as a way of funding your cryptocurrency exchange accounts. With this method, you simply make a bank transfer to the exchange and wait for the funds to appear in your digital wallet.
Simple, right?
Well, yes, and no - it's a secure method, for sure, but it's not all sunshine and roses.
Here's the kicker - while this method is super secure, it's also super slow. Since the length of time between making the transfer and receiving the funds can vary widely, from a few hours to a few days, this method sometimes results in the funds being delivered too late for time-sensitive transactions, and that can be costly.
As you can see, it's not so simple as just saying, "This is the way," - because there is no one way.
There are lots of techniques and options, and the best one for you will depend on your bank, your trading style, and your personal preferences.
The best way to make sure you're using the optimal strategy is just to read the full, free guide.
Click here to learn how to buy Makerdao Tokens with a debit card from Bank of America - or visit https://daiflash.com/ to read the full study.
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
