A Growing Concern
As regulatory pressure continues to mount, it is becoming increasingly obvious that Crypto on-ramps are a concern to both the FED and regulators. Resistance is often a deterrent for many, so, make something difficult enough and activity is likely to decline. The ongoing “assault” is likely to cause new investors to consider taking a step back.
A “wait and see” approach is generally the course of action adopted by “uncertainty” and a “lack of clarity”. When you consider the underlying dynamics of many of these “events” it becomes blatantly obvious that regulators are unable to provide clarity, for the simple reason that they are themselves lost. They are still busy trying to push a square peg into a round hole.
Perhaps, someone needs to tell them that their defining criteria needs adjustment in order to facilitate and accommodate an entirely new asset class. Trying to apply the understanding of a 1980s Ford to a 2023 Tesla would be considered rather idiotic. It is no different with any form of technology or network. So, what’s the best solution for overcoming on-ramp stresses?
It’s simple, don’t use them. This was something that I began communicating to my own Crypto oikos back in 2017 and 2018. I envisioned this becoming more of an issue as time passed. My suggestion was simple, create your own economy and infrastructure. Regular readers will be aware of my “create your own economy” approach. Essentially, it comes down to two key aspects.
The idea is to get most of your desired Crypto allocation into the ecosystem, ensuring no need for future on-ramps and other hurdles. Secondly, begin earning multiple forms of income within the Crypto ecosystem. By following these two simple approaches, independence is attained, at least to some extent.
Having a reasonable Crypto investment, together with a Crypto income provides a level of safety and ensures a form of escape from a collapsing and restrictive system. Whether you choose to amass that income or not is inconsequential. The investment can grow, or an additional income source is born.
Spending Crypto is a lot easier than it may sound. There are numerous ways and services that actually make the entire process relatively simple. Many exchanges and other Crypto companies offer Visa cards, which everyone is familiar with. Remember, when making use of a Visa card that is linked to a wallet, the wallet can be topped up as required.
There is no need to take on additional risk. These cards/wallets can even be recharged daily, in order to mitigate risk. Those who earn an income in the traditional sense are likely to find having a Crypto investment, as well as a form of income quite reassuring, especially during times of uncertainty. Successful execution of this idea makes the future use of on-ramps irrelevant and unnecessary.
Furthermore, many of these services also offer cash back in the form of Crypto. As lightning continues to experience increased adoption, so will the vendors who provide it as a form of payment. Paying directly from a non-custodial wallet is obviously the way to go. Why? Because it’s complete independence. The essence of Crypto is to eliminate all third parties. If you don’t need third parties, then simply eliminate them.
Becoming a Crypto citizen removes the need for on-ramps. If you have already moved across the border, then there is no need for continuous access. That’s it for this one. Catch you next time!