I’m extremely unhappy with my first DPI experience. I clicked “Buy with Cash” at Index, read the notice that “Transak allows you to easily buy the DeFi Pulse Index,” paid about 5% in Transak fees, paid 5% in credit card fees, and paid 5% “slippage” only to find that I had purchased not DPI but ETH. I explicitly did not want to purchase ETH, and exchanging ETH for DPI is a taxable event.
Now I own ETH I did not intend to purchase, paid 15% in fees, and still do not own DPI. I understand that crypto is the wild west at the moment, but this purchase funnel is misleading at best. I see that there are more in-depth instructions about purchasing DPI on the website, but that is not an excuse for a misleading purchase funnel. This should be fixed.
I don’t know the details of your specific tax implications but wouldn’t selling ETH for DPI benefit you, since you’re likely to realize a small loss possibly even adding all the costs as expenditure.
But regardless of this, as far as I know DPI is owned by holding an ERC-20 token and to get your hands on one of those you need to participate on the Ethereum network, which requires you to own ETH to pay for transactions.
Hi @jes269 , I’m very sorry to hear you’ve had this experience. Do you have a discord handle so one of the team can reach out to you and step-by-step go through what happened?