Crypto Shop
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I'm super intrigued by the shop myself.
This would be one of those times where I say "screw the instructions" and call the owner of the place and explain what I'm doing. From the description, there is zero way to do this type of evaluation without raising suspicion so why not go in with the understanding of what is being done from the get-go.
This would be one of those times where I say "screw the instructions" and call the owner of the place and explain what I'm doing. From the description, there is zero way to do this type of evaluation without raising suspicion so why not go in with the understanding of what is being done from the get-go.
I agree with you metro. I know nothing about crypto and the instructions say you could be directed to purchase one to five crypto’s and get $20 each. This is real iffy to me, and I think I’m going to stay away from it.
I am still interested, mostly because I find the whole crypto thing interesting. Some new assignments showed up in my email yesterday. None were close enough to do without getting on the road, and the nearest one was only asking that one crypto be purchased. Although not as lucrative as the ones touting $200 or a stack at $20 each, it would likely be easier to pull off than trying to buy a whole handful in the midst of multiple transactions using an app that you were not completely sure how to navigate, and others have mentioned being buggy. Anyway, I am passing until I see something just a little closer.
Edited 1 time(s). Last edit at 09/03/2022 10:08AM by GinnyLynn.
How many legs does a dog have if you call the tail a leg?
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
Edited 1 time(s). Last edit at 09/03/2022 10:08AM by GinnyLynn.
I wouldn't call the owner, it's an ATM machine that self-served. They're not going to be paying attention to you.
One problem with a crypto shop is that you have no idea what the service fee or transaction fee will be or the "exchange" rate. As I write this, the spot price for Bitcoin is $19,870.34 on Coinbase. It has ranged from $20,041.67 to $19,607.44 in the last 24 hours. I suggest that before you buy Bitcoin or Ethereum, Dogecoin or any other crypto coin at a crypto ATM, that you check the spot price on your phone in real-time. Determine how many Bitcoin $20 should buy. Determine the spread on the ATM (the difference between buying and selling price) and the withdrawal fee. For instance, the withdrawal fee on bitFlyer (an online crypto site) is 0.0004 BTC which is currently $7.948.
If none of this makes sense to you, then don't even consider signing up for a crypto MS.
If none of this makes sense to you, then don't even consider signing up for a crypto MS.
Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
I haven't seen any of these listed. Not sure if it's because there are no crypto ATMs in my area or if I'm not signed up with the MSC. Is the MSC a large national outfit, or a smaller one?
I've seen crypto shops with two different MSC on both sides of the country. Those who use their intelligence with force will do well with these shops.@DRJ wrote:
I haven't seen any of these listed. Not sure if it's because there are no crypto ATMs in my area or if I'm not signed up with the MSC. Is the MSC a large national outfit, or a smaller one?
I have seen the crypto shops with a couple different fairly large MSCs. Although I have seen some a couple counties away, I haven't seen any in my area at all. I am not route shopping at this point, and I am not up for the drive. They seem to be pretty spread out area wise. I may have seen some on one of the aggregating platforms. Is it fair to name that here since it is not a company? They are not always there anyway though, so somebody is picking them up. In the meantime, I downloaded the app. I'm ready if they show up in my area. I would like to try at least one and see how it goes.
How many legs does a dog have if you call the tail a leg?
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
I did one of these for the previous MSC - it was fairly easy, however it's a lot of photographs of the screens as you go through the process. My shop was in a gas station and the attendant did kind of look at me strangely, but I kept on. Not sure I would do it in some of the sketchier areas where the new MSC has some shops listed because I'm not sure I could explain why I'm taking a photo of EVERY screen that comes up for the transaction.
Thanks for sharing on that nixkit. I wondered how it was going to work out using the app and the ATM while taking pictures of multiple transactions. Being real, I was wondering a bit about the areas where I am seeing them listed so far as well. Specifically, does a woman of a certain age really want to go to some of these places alone and hover over the ATM for an indefinite length of time, fumbling with her phone, the app, and the ATM, while carrying what is going to be a stack of bills if you have to plan for $200 in $20 chunks. It is going to be hard to be inconspicuous in that situation. I still want to try at least one, and I have been reading all of the details on every email I get on them so far, but I haven't applied for one yet. I will when it is closer and feels right.
How many legs does a dog have if you call the tail a leg?
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
@MrEd wrote:
I've seen crypto shops with two different MSC on both sides of the country. Those who use their intelligence with force will do well with these shops.@DRJ wrote:
I haven't seen any of these listed. Not sure if it's because there are no crypto ATMs in my area or if I'm not signed up with the MSC. Is the MSC a large national outfit, or a smaller one?
Thanks Mister Ed.
I'm with both and I guess there must not be any in my area.
FYI, the brainy folks just said there were some more.
How many legs does a dog have if you call the tail a leg?
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
Okay, I see some over 200 miles from me. Must not be any in my area. Thanks for the heads up.
@myst4au wrote:
If none of this makes sense to you, then don't even consider signing up for a crypto MS.
A Dad shopping the Ark-LA-Tex and beyond.
@nixkit wrote:
I did one of these for the previous MSC - it was fairly easy, however it's a lot of photographs of the screens as you go through the process. My shop was in a gas station and the attendant did kind of look at me strangely, but I kept on. Not sure I would do it in some of the sketchier areas where the new MSC has some shops listed because I'm not sure I could explain why I'm taking a photo of EVERY screen that comes up for the transaction.
I think I would be comfortable saying to an employee that I was new to the whole crypto thing, my brother-in-law put me on to it, but that I was taking all the pictures to prove that I bought it since I'm not sure it's trustworthy.
That said, I was happier when I did a $20 crypto shop than I am about the idea of shelling out $100-$200 at once, just in case the MSC finds some nitpick to avoid reimbursing me.
The shops I have done call for buying $20 of every different type of crypto coin available at that ATM. Some only have bitcoin, so that means $20 spent there. Another location's ATM may have bitcoin, ether, litecoin, and bitcoincash. That's 4 different coins at $20 apiece, or $80 total.
@myst4au wrote:
One problem with a crypto shop is that you have no idea what the service fee or transaction fee will be or the "exchange" rate. As I write this, the spot price for Bitcoin is $19,870.34 on Coinbase. It has ranged from $20,041.67 to $19,607.44 in the last 24 hours. I suggest that before you buy Bitcoin or Ethereum, Dogecoin or any other crypto coin at a crypto ATM, that you check the spot price on your phone in real-time. Determine how many Bitcoin $20 should buy. Determine the spread on the ATM (the difference between buying and selling price) and the withdrawal fee. For instance, the withdrawal fee on bitFlyer (an online crypto site) is 0.0004 BTC which is currently $7.948.
If none of this makes sense to you, then don't even consider signing up for a crypto MS.
I did this shop and the transaction fee was extremely high, I want to say it was between 10-20%. And then they charge you to withdraw on top of that. And then btc dropped 40% so there ya go. So if you're expecting to get $20 in "free" crypto and make money when it goes up in value... don't.
The write up was very easy. If I remember correctly it was only photos.
I see one with the force in the market. Only has an 8 dollar fee. The internet indicates the machine may only have 2 cryptos available, but it's hard to tell if that is up to date. I'll pass.
No one was taking these at $12, around here, so the $8 fee is way too low.
Edited 1 time(s). Last edit at 09/22/2022 08:50PM by Lady Marius.
Lady Marius
Canadian Mystery Shopper
Canadian Mystery Shopper
Edited 1 time(s). Last edit at 09/22/2022 08:50PM by Lady Marius.
Can’t you transfer your crypto from your wallet to another brokerage account for free and trade it for no fees? (Asking)
Like can a person use their custody wallet to send it to Robinhood and trade it for free?
Like can a person use their custody wallet to send it to Robinhood and trade it for free?
That is a good question. So, I decided to look at my Robinhood account. It turns out that there are fees charged by crypto networks for transferring coins from one depository (call it a wallet or a Robinhood account or something else) to another. Once you get the crypto to Robinhood, you can sell it without any fees. You would need to find out the fee charged by the network that is operating behind the ATM machine for conducting a transfer. The $7 fee reported by another poster for buying $20 of crypto at an ATM is outrageously expensive.
This is rapidly getting back to my much earlier comment that if none of this makes sense to you, stay away. I will add that most networks such as Coinbase charge a 4% fee to buy or sell major crypto. Repeating, the $7 fee reported by another poster for buying $20 of crypto at an ATM is outrageously expensive.
This is rapidly getting back to my much earlier comment that if none of this makes sense to you, stay away. I will add that most networks such as Coinbase charge a 4% fee to buy or sell major crypto. Repeating, the $7 fee reported by another poster for buying $20 of crypto at an ATM is outrageously expensive.
@Tanischri87 wrote:
Can’t you transfer your crypto from your wallet to another brokerage account for free and trade it for no fees? (Asking)
Like can a person use their custody wallet to send it to Robinhood and trade it for free?
Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
I've dabbled with it a little, like tiny little. Read and studied a bit on it too, even took a local Zoom seminar a couple weeks ago. The one thing that I have learned so far is that the more I learn about crypto, the less I know. There is no doubt it is a quagmire, but I also think it is here to stay. I'd definitely take one of those assignments if it pops up in my area.
How many legs does a dog have if you call the tail a leg?
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
"Four. Calling a tail a leg doesn't make it a leg."
-- Abraham Lincoln
For a while PayPal and Coinbase were literally giving away free crypto. That was a wild time. $50 from PayPal and over $100 from Coinbase. I don’t think that’s coming back. After the FTX scam, I see very few opportunities in the short run. A lot of people are going to be very sad that their DOGE isn’t coming back.
I live in NY state, and crypto companies are severely regulated here, to the point that only pre-existing financial companies (like Robinhood, PayPal, SoFi, etc.) that were already under federal SEC or bank regulations, and two or three exchanges like Coinbase could do business here. I used to be annoyed at this--it meant I couldn't use most wallets or exchanges without going across the border--but after recent months' events I have been a bit more appreciative of it.
I look at like the scandals from the early days of cyber businesses. There was a massive shake-out where most of them collapsed, and there was little hope for those that remained. But that's when Amazon and others grew strong, and I suspect something similar might happen with cryptos that have use cases--unlike DOGE, which was always a $h!t coin.
I look at like the scandals from the early days of cyber businesses. There was a massive shake-out where most of them collapsed, and there was little hope for those that remained. But that's when Amazon and others grew strong, and I suspect something similar might happen with cryptos that have use cases--unlike DOGE, which was always a $h!t coin.
I second Susan L.
I live in NJ, and in February 2022, NJ Consumer Protection severely restricted BlockFi accounts of NJ residents. I waited about 2 months and then withdrew every penny that I could. I had far, far less than a fortune at BlockFi. While I was initially upset with NJ, I am now very pleased that NJ suspected (I stop short of saying "knew"
more than I did.
Edited to add: Actually, $0.13 somehow got stranded in the account, so now I am an unsecured creditor.
Edited 1 time(s). Last edit at 12/03/2022 07:16PM by myst4au.
I live in NJ, and in February 2022, NJ Consumer Protection severely restricted BlockFi accounts of NJ residents. I waited about 2 months and then withdrew every penny that I could. I had far, far less than a fortune at BlockFi. While I was initially upset with NJ, I am now very pleased that NJ suspected (I stop short of saying "knew"
more than I did.
Edited to add: Actually, $0.13 somehow got stranded in the account, so now I am an unsecured creditor.
Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
Edited 1 time(s). Last edit at 12/03/2022 07:16PM by myst4au.
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