Electrum vs. Metamask

[suzanne5223]

Metamask will be a really good wallet for buying not only shitcoins. Metamask, in addition to the Ethereum network, also supports a lot of other blockchains, but you won't be able to store bitcoin on it. To store bitcoins, you need to use Electrum, which is really one of the best, designed for storing BTC, but you will not be able to store shitcoins there.

Buddy, you can still store Bitcoin on the Metamask wallet using the BEP20, ERC20 and RBTC (rsk mainnet) though all these ecosystems are not on the main BTC chain, and for this reason, some people categorized all the Bitcoin on the blockchain I mentioned as a token not real Bitcoin. However, there BTC price is always the same as the price of the BTC on the Bitcoin main chain.

Answering the OP's question, I was talking about the original Bitcoin, not its Wrapped Bitcoin, which are represented by various custodians. In addition, the main disadvantage of Wrapped Bitcoin is that a centralized custodian is responsible for storing such bitcoin, and therefore they are centralized assets.
And despite the fact that the price of Wrapped Bitcoin is tied to the cost of the original BTC, it is still different.

You're totally correct about wrapped Bitcoin, Smart Bitcoin, etc to be different from the real Bitcoin which is the reason why I mentioned it to be categorized as a token.
Meanwhile, I don't know if their system was centralized as you claimed cause I haven't taken a deep look into it but rBtc claimed to be a decentralized system.

....My goal is to buy some shitcoins that are not listed in Binance and Metamask was given as the tool for buying these...

Metamask will be a really good wallet for buying not only shitcoins. Metamask, in addition to the Ethereum network, also supports a lot of other blockchains, but you won't be able to store bitcoin on it. To store bitcoins, you need to use Electrum, which is really one of the best, designed for storing BTC, but you will not be able to store shitcoins there.

Buddy, you can still store Bitcoin on the Metamask wallet using the BEP20, ERC20 and RBTC (rsk mainnet) though all these ecosystems are not on the main BTC chain, and for this reason, some people categorized all the Bitcoin on the blockchain I mentioned as a token not real Bitcoin. However, there BTC price is always the same as the price of the BTC on the Bitcoin main chain.

I can understand the concept. But we shouldn't treat those as a real bitcoin. It's just an image of real bitcoin and i would avoid using/recommend it.

Agreed but they are just alternative systems which I believe was created by Bitcoin enthusiasts and the last time I check Pompliano was among one of the project angel investors.
I know about all these projects through Binance and when I invested in the Sovryn project.

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[pooya87]

And despite the fact that the price of Wrapped Bitcoin is tied to the cost of the original BTC, it is still different.

To be clear there is no connection whatsoever between price of bitcoin and price of any other centralized shitcoin such as WBTC. There is only a promise given to users by the centralized owner that they would swap it with a 1:1 ratio but that promise can be broken any time.

[cryptoaddictchie]

Binance card, works great. I've used it in several situations and everything went well.
Now, it depends on the country where you use it. Not all countries have access to the Binance card or all the services provided by it.

Hello as far as I'm aware, Binance work on European countries isn't it? Means only people on that country yet to enjoy the perks. How great is using binance card? I mean how did you use it and what for? Is the payment or sending of funds are too easy using the card or you need to open your binance app just to activate and execute it? Thanks for the ping.

[Oshosondy]

And despite the fact that the price of Wrapped Bitcoin is tied to the cost of the original BTC, it is still different.

To be clear there is no connection whatsoever between price of bitcoin and price of any other centralized shitcoin such as WBTC. There is only a promise given to users by the centralized owner that they would swap it with a 1:1 ratio but that promise can be broken any time.

If you even check coinmarketcap or coingecko, bitcoin price is not exactly the same as wrapped bitcoin price, though the prices are similar but not the same, but because these types of coins are pegged with bitcoin, they have prices similar to that of bitcoin, the coins are centralized, only bitcoin is absolutely decentralized unlike other cryptocurrencies.

[Rikafip]

Hello as far as I'm aware, Binance work on European countries isn't it? Means only people on that country yet to enjoy the perks. How great is using binance card? I mean how did you use it and what for? Is the payment or sending of funds are too easy using the card or you need to open your binance app just to activate and execute it? Thanks for the ping.

Yep, users from EU countries (AFAIK not whole Europe is covered) can get Binance card.

While card is pretty good, it is not as reliable as other standard bank-issued debit cards. More than once I got my card rejected for no obvious reason, even though I had more than enough money for purchase. Meaning I would pay something with card, and then tried to do it again in  like 10 minutes and it wouldn't work, and then again a little bit later all was good and it worked. The biggest downside is that you will have to go through KYC in order to get the card.

Beside those occasional glitches and KYC thing, I am overall  satisfied with the card after ~6 months use and it's probably the cheapest way to cash out fiat via ATM with only 0.9% fee.

[cryptoaddictchie]

The biggest downside is that you will have to go through KYC in order to get the card.

Oh I see. So it worked like a regular debit card that needs some ID before Binance issue one for you. But is it free when availing the card? I just hope it could get available on Asian countries too.

Beside those occasional glitches and KYC thing, I am overall  satisfied with the card after ~6 months use and it's probably the cheapest way to cash out fiat via ATM with only 0.9% fee.

Thats really good to hear that there is at least pros with the card. Mate can I ask if the funds on your Binance account is simply the funds residing on the card? For example, you have 1eth or 20 axs or any tokens that are valuable, if you decide to cash out fiat to any atm it would process automatically like it would give you certain fiat based on the number of amount you want to withdraw?

[Rikafip]

Oh I see. So it worked like a regular debit card that needs some ID before Binance issue one for you. But is it free when availing the card? I just hope it could get available on Asian countries too.

Yep, its works like any other debit card that you can use for cashing out, paying online etc and card is free. Best is to check Binance if your country is supported.

Mate can I ask if the funds on your Binance account is simply the funds residing on the card? For example, you have 1eth or 20 axs or any tokens that are valuable, if you decide to cash out fiat to any atm it would process automatically like it would give you certain fiat based on the number of amount you want to withdraw?

When it comes to funds that you want to spend, you will have to transfer crypto from your spot wallet to card itself, but it's done in a click and transfer is instant. You also get cashback based on amount of BNB you hodl, while default cashback is 1% and you don't need any BNB to get that.

[cryptoaddictchie]

Yep, its works like any other debit card that you can use for cashing out, paying online etc and card is free. Best is to check Binance if your country is supported.

I see so the only downside is its not yet supported on our country and I hope soon it will be also available.

When it comes to funds that you want to spend, you will have to transfer crypto from your spot wallet to card itself, but it's done in a click and transfer is instant.

Does it done on Binance app this process. Just need to reload my spot to card balance and its a good to go. If yes then its so exciting mate. Damn, binance really have a good features. And this funds can withdraw anytime right to any atm worldwide.

[Rikafip]

I see so the only downside is its not yet supported on our country and I hope soon it will be also available.

Have you tried Coinbase-Revolut combination, since Binance card is not yet available?

Does it done on Binance app this process. Just need to reload my spot to card balance and its a good to go. If yes then its so exciting mate.

Yes, all that can be done via mobile app as well, even though I am rarely using it. Somehow I feel more secure accessing Binance and doing that via PC. But its not a bad thing when you are out, have to pay for something and you are low on card funds.

And this funds can withdraw anytime right to any atm worldwide.

So far I tried withdrawing fiat using ATM in several EU countries and in UAE, worked like a charm so I see no reason why it shouldn't work in the rest of the world as well. After all, its Visa. The only thing that you have to be careful of is fee; in EU it was usually 1%, while in UAE it was 2% fee. Or maybe I just picked up the bad ATM there.

[coupable]

....My goal is to buy some shitcoins that are not listed in Binance and Metamask was given as the tool for buying these...

Metamask will be a really good wallet for buying not only shitcoins. Metamask, in addition to the Ethereum network, also supports a lot of other blockchains, but you won't be able to store bitcoin on it. To store bitcoins, you need to use Electrum, which is really one of the best, designed for storing BTC, but you will not be able to store shitcoins there.

Buddy, you can still store Bitcoin on the Metamask wallet using the BEP20, ERC20 and RBTC (rsk mainnet) though all these ecosystems are not on the main BTC chain, and for this reason, some people categorized all the Bitcoin on the blockchain I mentioned as a token not real Bitcoin. However, there BTC price is always the same as the price of the BTC on the Bitcoin main chain.

I can understand the concept. But we shouldn't treat those as a real bitcoin. It's just an image of real bitcoin and i would avoid using/recommend it.

Agreed but they are just alternative systems which I believe was created by Bitcoin enthusiasts and the last time I check Pompliano was among one of the project angel investors.
I know about all these projects through Binance and when I invested in the Sovryn project.

I don't really think that it was creaated by bitcoin enthousiasts as most of them are minted within exchanges for specific purposes. For me, it gets more confused to see Pompliano as one of those project investors and still can't figure out why he is involved in such a project. Was it a way maybe to solve bitcoin blockchain problems? Who knows?
I was struggled with stable coins which seems to me as another form of the classic money destinated only for traders to avoid big dump loss. But with bitcoin, what should be the purpose of treating it as a token!?

[suzanne5223]

....My goal is to buy some shitcoins that are not listed in Binance and Metamask was given as the tool for buying these...

Metamask will be a really good wallet for buying not only shitcoins. Metamask, in addition to the Ethereum network, also supports a lot of other blockchains, but you won't be able to store bitcoin on it. To store bitcoins, you need to use Electrum, which is really one of the best, designed for storing BTC, but you will not be able to store shitcoins there.

Buddy, you can still store Bitcoin on the Metamask wallet using the BEP20, ERC20 and RBTC (rsk mainnet) though all these ecosystems are not on the main BTC chain, and for this reason, some people categorized all the Bitcoin on the blockchain I mentioned as a token not real Bitcoin. However, there BTC price is always the same as the price of the BTC on the Bitcoin main chain.

I can understand the concept. But we shouldn't treat those as a real bitcoin. It's just an image of real bitcoin and i would avoid using/recommend it.

Agreed but they are just alternative systems which I believe was created by Bitcoin enthusiasts and the last time I check Pompliano was among one of the project angel investors.
I know about all these projects through Binance and when I invested in the Sovryn project.

I don't really think that it was creaated by bitcoin enthousiasts as most of them are minted within exchanges for specific purposes. For me, it gets more confused to see Pompliano as one of those project investors and still can't figure out why he is involved in such a project. Was it a way maybe to solve bitcoin blockchain problems? Who knows?
I was struggled with stable coins which seems to me as another form of the classic money destinated only for traders to avoid big dump loss. But with bitcoin, what should be the purpose of treating it as a token!?

I understand your point and I also know Pompliano as one the major Bitcoin investor which also represents Bitcoin in some crypto currency debate. I was skeptical why someone like him invested in sovyrn/rsk until I see that the project as a smart contract which was secured by the Bitcoin network. I believe it will serve as the expansion of Bitcoin and blockchain problem