QUICKSTART GUIDE - COMPLETE 3 SIMPLE STEPS
- SET UP A GLOBAL BANK ACCOUNT WITH WISE HERE - FIAT/FIAT FLOW
- SET UP REVOLUT HERE - FIAT/CRYPTO FLOW
- SET UP A CRYPTO EXCHANGE HERE - FTX > BINANCE
EXTRAS & FUTURE
- NON CUSTODIAL WALLET - EXODUS
- SOLANA PAY - For E-COMMERCE, MERCHANTS & <1 CENT FEES
Wise, is like the local bank account that you use every day. The only difference is that it is borderless, you can move money in any currency and fees are 8x cheaper than what you are probably using now. Including PayPal. Revolut is like your virtual online bank which works seamlessly with ANY online platform, including Web3.0 and crypto/defi applications/exchanges. We use FTX as the exchange because the founder and vision is aligned with decentralized financial systems and belief. Exodus is like the wallet that you have in your pocket, only you control it. It is non-custodial and no third parties have access to it. Unlike the exchanges which require KYC (passport/ID) verification.
INTRODUCTION
After playing the crypto world since 2016 here are the simplest systems that enable flow between the centralized and decentralized world. My first go playing with cryptocurrency to pay for real-world bills and assets started with satoshis living room. I used bitcoin to pay for a Telstra Bill that was sent to me after I turned data roaming on whilst traveling and managed to accumulate a $1000 bill in 15 minutes as my data downloaded emails and more. Disgruntled I used an appreciating asset like BTC so that I didn't feel like I was giving them my hard-earned money. Today it's a lot easier. In hindsight that BTC would have 20x since then, which meant that my Telstra bill was 20k in relative value today. A mistake I won't make again. Here is the download of systems to become crypto-enabled in 2022 and beyond. avoiding the noise. We rise and fall to the level of our systems are when it comes to business, money, and finances. Hopefully, this saves you time, money, and energy. Whilst putting your money in positively geared systems, minus the exuberant Ethereum gas fees.
ONE MESSAGE
1. WISE - Your Global Borderless Bank Account
PROS
- 8x cheaper than centralized banks
- Best conversion rates globally (designed for this)
- Can send and receive in every currency with a bank in each country too!
- Can create a virtual card for online payments
- Can order a REAL card for everyday payments, with the same low fees.
CONS
- Doesn't currently allow for any crypto platform to pay
- Get to know tax implications and systems for your country of residence or business operations.
- Still part of centralized banking system, but made for global citizens
CONNECT WITH REVOLUT FOR CRYPTO enabled PAYMENTS, INVESTMENTS, and payouts.
SET UP A PERSONAL BANK IN MINUTES HERE (CLICK BELOW)
SET UP A BUSINESS BANK IN MINUTES HERE (CLICK BELOW)
------------------THE BRIDGE--------------------
2. REVOLUT - Your bridge between Fiat & Crypto
Best platform that allows MONEY (FIAT) to Crypto transactions
PROS
- Global card for everyday payments
- Crypto enabled, unlike WISE and other banks.
- For global citizens and international travelers
- Link with your global WISE bank to master the FIAT system.
CONS
- Get to know your tax implications and systems
- Still part of the centralized banking system, but made for global citizens
- Not many.
HOW to Turn money into crypto simply & cheaply!
This is the most important step. Setting up with the right system will save you time, money, and a bucket load of third-party fees. Not to mention exchange fees. These platforms allow you to avoid Ethereum/BTC gas fees and move money for less than $1.
-----------------THE EXCHANGE---------------
3A. FTX EXCHANGE - Fiat to Crypto to Fiat
FTX is a good edition of crypto-enabled systems. I have both exchanges, but use Binance as my primary exchange based on my own personal needs and regulations. Other countries may find this one easier.
PROS
- A gateway between fiat and crypto can be easier than Binance due to regulations
- Built by the Solana development team, so you will get similar systems and principles
- Has cryptocurrencies that Binance may not have yet.
- Can integrate a Non-Custodial wallet like Exodus. This means that only you control your money, no third party. If the platform goes down, as long as you have your 12 words. Your crypto is always safe. This is the whole intention of Defi. To put the power and control back in the hands of individuals.
CONS
- Not yet enabled for business
- Not yet enabled for merchant payments
---------YOUR NON-CUSTODIAL WALLET-------
4. EXODUS WALLET
Your "wallet" in the Defi space is like the wallet you have in your pocket. Only you have access to it "Non-Custtodial". No third parties or external platforms. Only you and your 12-word key. On the exchanges, a third party still controls your money "Custodial Wallet".
We have chosen Exodus as the easiest entry point. Why? because of what they stand for, their customer support is amazing and they will ensure a safe entry into this world.
In the future, you can download wallets that can play on 50+ blockchain ecosystems. Like phantom wallet for Solana or Coin98 wallet, which integrates everything into one. Or Terra station to play in the luna ecosystem.
However, set up these first 4 systems and move from a solid foundation.
---------------OTHER OPTIONS ---------------
BINANCE EXCHANGE
PROS
- Binance ecosystem enables fees for less than $1
- You can send and receive from all ecosystems
- BTC, Ethereum, Solan, Avax, Polygon, and many other ecosystems enabled.
- A gateway to purchase and move crypto assets to the different ecosystems
- A gateway between FIAT (IN) < CRYPTO > FIAT (OUT)
- Business enabled - become crypto enabled business
- Binance pay evolving for merchants and businesses
CONS
- Custodial - Still Centralized ownership in a decentralized world.
- Money is still sitting on an exchange rather than a personal software wallet or hardware wallet
- Starting to become more regulated for taxation and government purposes - get to know the tax implication when you move crypto back into fiat money.
BINANCE FOR BUSINESS/MERCHANT PAYMENTS
How to apply for a corporate account here.
BINANCE PAY
Binance Pay is a contactless, borderless and secure cryptocurrency payment technology designed by Binance.
3C. OTHER cryptocurrencies.
Some cryptocurrencies that aren't available on Binance or FTX, you will be able to pick up on KUCOIN OR GATE.IO. However, their process for moving fiat to crypto is more expensive. Use the systems above and send USDT OR USDC to these platforms using trc20 or bep20 so fees are minimal and you can still leverage the ease and flow above.
SUMMARY
Set up these 3 systems for your personal life and even business. WISE, REVOLUT, BINANCE OR FTX, and in the next blog, I will show you how to move the cryptocurrencies of the centralized exchanges and into your own personal and hardware wallets. So that the money is truly in your control. Plus you can play with the world of decentralized apps, compound interest, and liquidity pairing too!
CALL TO ACTION
<< SET UP 4 SYSTEMS IN MINUTES >>
WISE <> REVOLUT <> BINANCE/FTX
Borderless Bank account
The Bridge
The Exchange
Your own personal Non-Custodial Wallet
GET STARTEDDEPOSIT $100 USD AND LEARN BY DOING
REFERENCES
With all our REFERENCES We have done our best to reference everyone’s expert opinions, peer-reviewed science, and original thoughts, HIGHLIGHTED IN THE TEXT. So that you can go direct to the source as you read.