Question: Is the withdrawal method to the USA reliable enough to live on?

[NevadaJake]

This situation does not apply to me. And likely never will, but maybe someday if I own enough CLDs. However, I know there are probably a few USA based people that could comment on this.

If a player owned enough Land Areas, Deeds, shares, etc... to generate $1k USD $2k USD per month, is the current withdrawal method fast enough, reliable enough, predictable enough to actually supplement one's lifestyle IRL? Or is a withdrawal meant to be an occasional activity. Just a few times per year at most?

 

[MsPudding]

The method is very reliable, in my experience. It is slow, very slow. So you need to properly budget for that, if this money is to be used for say rent or something like that. But once the withdrawals begin coming through, the delay isn't much of an issue. Plan on at least a 2 month window between withdrawing and receiving the funds in your bank account.

I think in my 10 years playing EU and having done a fair bit of withdrawals in that time, there were a couple that had issues. I was required to scan my license, make some account updates, and then they went through. I live in Utah, for reference. The delays added a couple weeks each time, but always went through in the end.

 

[NevadaJake]

The method is very reliable, in my experience. It is slow, very slow. So you need to properly budget for that, if this money is to be used for say rent or something like that. But once the withdrawals begin coming through, the delay isn't much of an issue. Plan on at least a 2 month window between withdrawing and receiving the funds in your bank account.

I think in my 10 years playing EU and having done a fair bit of withdrawals in that time, there were a couple that had issues. I was required to scan my license, make some account updates, and then they went through. I live in Utah, for reference. The delays added a couple weeks each time, but always went through in the end.

Thank you for this.

I have withdrawn twice in the last 13 years and both times I did have to scan my ID and open a support ticket to get it pushed through at the end. I wasn't sure if they do that every time or if they eventually establish a relationship of sorts.

 

[atomicstorm]

This situation does not apply to me. And likely never will, but maybe someday if I own enough CLDs. However, I know there are probably a few USA based people that could comment on this.

If a player owned enough Land Areas, Deeds, shares, etc... to generate $1k USD $2k USD per month, is the current withdrawal method fast enough, reliable enough, predictable enough to actually supplement one's lifestyle IRL? Or is a withdrawal meant to be an occasional activity. Just a few times per year at most?

I would honestly recommend other investments if you are going to depend on it for living and not Entropia Universe. Including, but not limited to, REITs, bonds, stocks with significant dividends and/or funds, or CryptoLending if you are savvy. If you are after only passive income for these purposes, that would be where to go because should you need it for emergency - it is also easily liquidable for that purpose.

To your question, it is reliable but can also be hung up on inquiries that you don't see (mailbox, sketchy emails, etc) - requests for IDs that you also don't see - so they don't process and wait for you to say something (has happened to me and others. The time for withdrawals are sporadic from 2 real months to 3 real months (~50 swedish business days). They always do withdraw though, but again - it's about dependence.

 

[NevadaJake]

I would honestly recommend other investments if you are going to depend on it for living and not Entropia Universe. Including, but not limited to, REITs, bonds, stocks with significant dividends and/or funds, or CryptoLending if you are savvy. If you are after only passive income for these purposes, that would be where to go because should you need it for emergency - it is also easily liquidable for that purpose.

To your question, it is reliable but can also be hung up on inquiries that you don't see (mailbox, sketchy emails, etc) - requests for IDs that you also don't see - so they don't process and wait for you to say something (has happened to me and others. The time for withdrawals are sporadic from 2 real months to 3 real months (~50 swedish business days). They always do withdraw though, but again - it's about dependence.

I’m definitely not interested in going “all-in”. Just owning SPY or VTI in Robinhood would be better as an investment. I was just wondering how it works for people holding several Land Areas or hundreds/thousands of CLDs. Especially those players based in the USA.

 

[raulpon]

Having 5-10% of your portfolio under risky/fun assets is fine.

If you want to withraw 10k$/year, you should have about 120k$ in investments in here, at current opportunities.

BUT

~8% interest on your 120k$ risky assets, is really really low number. I would rather aim IPOs, startup syndicates, crypto, stock, whatever else, where you can make 80 or 800% a year while having high risk of making nothing or loosing it all