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Why do people talk about buying POSW on sites such as yobit instead of simply exchanging it for BTC on the POSWallet site?
I'm planning to do it like this:
EUR-> Kraken -> BTC -> POSWAllet -> POSW
Is there any reason to do it differently?
Also, is POSW a scam or not? I've read the arguments against it, but, how often does the devs running away with money happen in the world of cryptos? If they seized people's POSW, surely that would crash the currency and render it worthless? If they stole other currencies held on their site... well they can do that, but how often do those things happen? Is it even profittable for them - I mean, I'd guess that most people don't store other currencies than POSW in their wallet?
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>Is it even profittable for them
Staking isnt free, it requires a membership. Of course thats like one of those cloudbased minera where you dont make anything
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>>1975176
>buying POSW on sites such as yobit instead of simply exchanging it for BTC on the POSWallet site?
I don't fully trust the posw website yet. I don't think they are malicious, but they are relatively new and other exchanges do have a lot more built up trust.
Still really like the concept and will use the site eventually. It fills a brand new niche which is great.
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>>1975228
The only costs of a 'membership' (I assume you mean the regular account) that I've found are the 0.004 BTC withdrawal fee and the 0.20% exchange cost.
Also, by profittable I meant their running away with the money.
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BUBUBMP
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>>1975583
Don't put too much into posw in case it's a scam. Stick to your old exchange and buy POSW and BITB
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>>1975176
Buy from the exchange.
I bought my 30k from there. It's also the cheapest place currently.
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>>1975678
I mean buy from the PoSW exhange.
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