Crypto. Sports betting. Getting some consensual action as a governor. All are a little harder than they should be when you live in the Empire State. Let’s focus today on crypto.
New York State requires companies to obtain a BitLicense or become a Limited Purpose Trust Company in order to participate in crypto transactions. This makes everyone’s life more difficult when trying to dabble outside the limited-listed assets found on Coinbase. However, there is a way around this by using less mainstream exchanges.
I’m talking about ChangeNOW, which sounds sketchy as hell to begin with, but let me tell ya…it works. ChangeNOW is an exchange with access to 250+ cryptocurrencies, which I’ve found to have some of the lowest priced transaction fees. I’ll try and leverage this exchange when an asset either isn’t available for purchase in New York or isn’t listed on Coinbase (i.e. XRP and VET as of now).
Another benefit is you don’t have to have a ChangeNOW account to make these transactions. All you’ll need is the following:
- Coinbase account
- Software or hardware wallet
Step 1: Purchase Ethereum or Bitcoin in your Coinbase account
This can really be any asset supported on ChangeNOW but I usually focus on one of the two. The reason we’re using Coinbase here is that fees are pretty low on purchases and transfers.
Step 2: Setup the swap on ChangeNOW
Lucky you because they’re currently accepting swaps for MILF Token. Go ahead and select ETH to send and whichever coin you want to receive. Click “Exchange” to proceed.
Step 3: Identify the recipient address
This will be the address you are going to be receiving the conversion. In the picture below, it should be your MILF Token wallet address in your software / or hardware wallet. Either scan the QR code for your wallet address or paste the address into the wallet address bar.
Hopefully your address is valid 🙁
Step 4: Confirm the details of your exchange and send the ETH
Send the ETH from your Coinbase account to the address underneath the sentence, “Please send the funds you would like to exchange.”
Step 5: Accumulate extremely horny gains
Accumulate extremely horny gains.
Done time!
If you decide to convert the assets back to an asset accepted in Coinbase and send it back to your Coinbase account, you may only be able to transfer a certain amount per transaction. This means you’ll have to make multiple transactions on ChangeNOW.
I urge you to wait until the transfer back to your Coinbase account goes through because after each transfer into Coinbase the wallet address changes for security purposes. Don’t be an asshole like me who lost 80% of quite a pretty penny because he decided to send 5 transactions to his Coinbase address within two minutes of each other.
Gregg
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