Crypto Update 1/16/2022 | Gods Unchained, Splinterlands, Crypto Banking
So I'm slowly getting the hang of GU. I think I've got the game mechanics down. I'm still foggy on the ranking system. I'm currently a Level 29 and a Novice. I'm not sure when I will advance.
I've figured out how to forge cards and assemble decks. I have more wins than losses, so I must be doing something right. I haven't really figured out the 'play-to-earn aspect of it yet, beyond forging some cards I can sell. It's a fun game, it's just very time consuming. I'm not sure the ROI for time will make it worth it. We shall see.
I'm still assembling a full Chaos Legion deck. I probably wont be recalling my cards from the rental market until that is done. Dilution is really starting to kick in. DEC is worth a lot less, and the DEC rental prices have been steadily ticking downward. The list and Market prices for cards have also taken a beating. The new packs flooding the market is dropping my share of the SPS airdrop as well. It should be interesting to watch what happens when the general sale kicks off here in about 12 hours. In the short term I think it will put a huge amount of pressure on card prices at the very least. I'm not sure about everything else though. I'm not complaining here at all, Splinterlands has treated me well. These are just my observations.
Banking With Crypto
So far I have two good avenues to get from Crypto to Fiat for day-to-day living expenses. First and foremost there is Crypto.com. I can pay quite a few expenses using the debit Visa card that you can load with several different cryptocurrencies, including stable coins on several different chains. For example, USDT on Solana is $1 to withdraw, while on Ethereum it's $35. I can also withdraw up to $800 cash from an ATM and deposit that into a traditional bank. You pay a 2% ATM fee on withdrawals above that. Also, some card processors won't even let you use prepaid debit card like these. Another avenue to get crypto into a traditional bank account is with BlockFi. You get one free stablecoin withdrawal per month that converts to USD and gets sent straight to your bank account via ACH. BlockFi has a limited choice of cryptos and only supports Ethereum stable coins, so it's really a last resort. I could also use Coinbase if push came to shove, but the fees there are ridiculous.
What I'm really starving for is something that an ACH billpay function that can be loaded with crypto. Something I could pay my mortgage or a credit card bill with. LVL.co is one possibility I'm looking at, but it only supports Bitcoin. At this point I'd rather not do anything but buy Bitcoin, and selling any at all to pay a bill has tax implications if you are using FIFO accounting and you are selling 5-year old Bitcoin to pay a Bill. I definitely want as many options as possible for getting things done, because you never know what could happen. I hate putting all my eggs into one or two baskets. This is crypto after all!
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