September 10, 2021
1. Do you have one or more online trading or investment accounts?
Yes, I have one or more accounts that I access both online using a computer and using a mobile app.
2. If your response to Question 1 is Yes, do you think you would trade or invest if you could not do so online using a computer or using a mobile app?
Yes
3. On average, how often do you access your online account?
Once to a few times per month
4. On average, how often are trades made in your online account, whether by you or someone else?
Less often than once a month.
5. If you access your account online, did you have the account first, and only began to access it electronically later? Or did you open the account with the idea that you would access it electronically immediately?
I downloaded an app or visited a website first, and then opened up an account with the company
6. My goals for trading or investing in my online account are (check all that apply):
Save and grow my money for medium- to long-term goals
Have fun
Other
If Other, Explain:
I do a great amount of research into the underlying fundamentals of a project before ever investing any money. This research has lead me to the conclusion that publicly accessible, secure, and inexpensive liquidity pools like bitcoin have an obvious value and potential for global growth and adoption given the lack financial infrastructure and rampant inflation, most notably seen in developing countries and the runaway inflation in places like Venezuela. Based on this conclusion, I believe my long term goals to save and grow my money through reasonable investment in fundamentally strong assets like Bitcoin and other DeFi assets that provide more efficient financial products than those commercially available are a central part of achieving my long-term savings and growth goals. I manage the risk to achieving my long-term goals, due to the high volatility of the crypto space, through occasional profit taking at predetermined levels to recover my principle and achieve my short-term savings and growth goals.
7. What would you like us to know about your experience with the features of your online trading or investment platform? (Examples of features are: social networking tools games, streaks, or contests with prizes points, badges, and leaderboards notifications celebrations for trading visual cues, like changing colors ideas presented at order placement or other curated lists or features subscription and membership tiers or chatbots.)
I find it offensive that we are prohibited from receiving airdrops. This forces US residents to buy into new projects rather than being able to test the new platforms with the airdropped tokens and make an informed decision based on user experience and the project's underlying fundamentals whether or not the project is worth additional investment. I also find it offensive that US residents do not have the same access to earn programs like those on binance.com and coinbase. It forces US users to take on greater risk and at greater expense through transaction cost and greater principal required to contribute to liquidity pools to earn yield on our assets through staking, rather than allowing me to conveniently and more safely stake my assets through coinbase or binance to earn an agreed upon variable yield to help achieve my short term savings and growth goals and manage the volatility risk of the assets. I have no issues with whatever colors the sites choose and havent noticed any visual cues, social media, games or streaks. Some platforms have better charts or provide clearer order book data.
8. If you were trading or investing prior to using an online account, how have your investing and trading behaviors changed since you started using your online account? (For example, the amount of money you have invested, your interest in learning about investing and saving for retirement, the amount of time you have spent trading, your knowledge of financial products, the number of trades you have made, the amount of money you have made in trading, your knowledge of the markets, the number of different types of financial products you have traded, or your use of margin.)
I first tried robinhood, but I wasnt able to take custody of my assets and found the platforms terrible charts and lack of features like stop-loss prompted me to spend unreasonable amounts of time trying to purchase cryptocurrency, so much so, that it prompted a sense of urgency because the available charts always seemed to lack the resolution and has such huge slippage that it seemed like I had to place buy orders $10+ above my intended entry point to have it filled. When first investing, I made the mistake of uaing the market buy/sell feature on robinhood only a hand full of times, of which I recall, very clearly, 3 times I became enraged seeing that my order was filled well outside the the slippage tolerance they claimed, but it wasnt as if I could report it.
I didnt have a record of exactly when I pressed the button. Robinhood also has buy/sell buttons that are the same color and make it easy to buy when you intend to sell, which I experienced. Given all those issues with my trading experience with robinhood, I moved to coinbase and binance because for the better user experience.
9. How much experience do you have trading or investing in the following products (None, 12 months, 1-2 years, 2-5 years, 5+ years):
Stocks : 1-2 Years
Bonds : None
Options : None
Mutual Funds : None
ETFs : None
Futures : None
Cryptocurrencies : 1-2 Years
Commodities : None
ClosedEnd Funds : None
Money Market Funds : None
Variable Insurance Products : None
Business Development Companies : None
Unit Investment Trusts : None
10. What is your understanding, if any, of the circumstances under which trading or investing in your account can be suspended or restricted?
My understanding is that my account can be suspended for many reasons like fraudulent activity, any unlawful activity, or if ordered by a court.
11. What else would you like us to know positive or negative - about your experience with online trading and investing?
I find it offensive that we are prohibited from receiving airdrops. This forces US residents to buy into new projects rather than being able to test the new platforms with the airdropped tokens and make an informed decision based on user experience and the project's underlying fundamentals whether or not the project is worth additional investment. I also find it offensive that US residents do not have the same access to earn programs like those on binance.com and coinbase. It forces US users to take on greater risk and at greater expense through transaction cost and greater principal required to contribute to liquidity pools to earn yield on our assets through staking, rather than allowing me to conveniently and more safely stake my assets through coinbase or binance to earn an agreed upon variable yield to help achieve my short term savings and growth goals and manage the volatility risk of the assets.