Circle Invest Review And Buying More Crypto

Circle Invest recently got funding from Goldman-Sachs and I recently decided to take another look at it. The one thing that impressed me initially is that they have been way more proactive at adding additional crypto projects beyond what exchanges such as Coinbase offer. They have Monero, EOS, Stellar, ZCash, and several other offerings.

One weird thing is they didn’t provide a way to login through a browser. They only had a mobile app. I decided to connect one of my bank accounts and tried to fund it with $1,000 to start out with.

I got poking around more in the app and I didn’t see anyway to withdraw your crypto once you had purchased it. I looked up some other stuff and sure enough it looks like you can’t withdraw.

Ultimately that isn’t anything I wanted to be involved in. If you don’t control your keys you don’t own your coins.

I made some more purchases over on my Kraken account. Bought a good chunk of EOS, and did additional smaller purchases of Monero and Ethereum Classic.

In Summary

I wouldn’t recommend stuff like Robinhood or Circle Invest unless they offer the ability to withdraw your crypto into your own wallets.

With Kraken and Bittrex you can only do wire transfers in. With Coinbase you can do ACH transfers in but it takes a long time for the money to show up.

What I’m hoping is that for the most part I won’t have to utilize the fiat gateways in the future after I dollar cost average in this time. To not have to go back to the bank accounts the dollar pegged assets will have to be more robust this time around and the ability to spend crypto will have to continue to progress.