Can we please simplify the damn exchange system. I would like to just purchase crypto currencies using my USD with one push of a button but nooooooo, I have to purchase for example “litecoin” then use the litecoin to purchase the coin I really want
I don’t know why so few exchanges take fiat cash but I’m sure they would love to make things so much easier for their clients, there must be good reasons for the way things are.
I think it’s the law.
It’s all about taxes and the avoidance of money laundering.
I think there are very strict rules for running a crypto exchange and I think there are many people who are not aware that they need to pay taxes on their crypto earnings.
On Coinbase/GDAX you have to upload your complete personal dataset (including passport and ID scans) and they were ordered to give the data of 14,000 people to the IRS for tax reasons.