Crypto for dummies?

[Iused2bCool]

I definitely have a lot to learn about crypto and it's giving me anxieties

Same here.

I've been buying via PayPal/Venmo and sending directly to my exodus wallet.

I know this info is supposed to help me but I am beginning to realize I am the town idiot. I'll go in search of that PayPal instruct you said is floating around. Thanks for info....I'll take all the Hansel & Gretel crumbs I can get...I am a carbaholic after all.

 

[chmuse]

Same here.

I know this info is supposed to help me but I am beginning to realize I am the town idiot. I'll go in search of that PayPal instruct you said is floating around. Thanks for info....I'll take all the Hansel & Gretel crumbs I can get...I am a carbaholic after all.

PayPal / USDT / Solana Crypto Guide 10.21.25 [archived internal link]

@peptideusername is the GOAT

 

[byefatlicia]

How do you put $ into exodus? Thru pre-paid credit/debit card or use own CC/DC?

I have been buying BTC on exodus with Google pay.

 

[RetCurious]

How do you put $ into exodus? Thru pre-paid credit/debit card or use own CC/DC?

The best I understand it...

PP may or may not work with pre-paid debit cards, most don't.

Bank transfer to PP can take 5-7 days to clear. Plan ahead.

Debit card to PP, funds should be available almost immediately.

Cash transfer using PP app's in store transfer is also immediate.

From there you can purchase PYUSD or Solana (maybe others, those are the 2 I've done) to transfer to your wallet.

 

[toologic]

Do they have like any kind of training mock website where can go through the entire process w/o using real money?

 

[Iused2bCool]

Do they have like any kind of training mock website where can go through the entire process w/o using real money?

That's an awesome idea! I like your thinking, toologic. You got a good logical head on your shoulders

 

[Iused2bCool]

The best I understand it...

PP may or may not work with pre-paid debit cards, most don't.

Bank transfer to PP can take 5-7 days to clear. Plan ahead.

Debit card to PP, funds should be available almost immediately.

Cash transfer using PP app's in store transfer is also immediate.

From there you can purchase PYUSD or Solana (maybe others, those are the 2 I've done) to transfer to your wallet.

Thank you RetCurious for explaining that so well! Excellent! Love pic of your beautiful kitty (baby). Soon as I can coral all of mine to sit together for a photo shoot, I'll post a pic of them. I have more than enough for a basketball team but not enough for baseball/softball team.

 

[Iused2bCool]

PayPal / USDT / Solana Crypto Guide 10.21.25 [archived internal link]

@peptideusername is the GOAT

Chmuse, you are super awesome!!!!! I greatly thank you for finding the PP guide! I have no excuse now. Between the great help from you & all the other wonderful folks in here, I should be up & running soon. If not, I`ll seriously gave to hire a high school. Thank you again for finding the guide.

 

[HRH_IceQueen]

Do they have like any kind of training mock website where can go through the entire process w/o using real money?

This!! I need this kind of training.

 

[tcpnomad]

Do they have like any kind of training mock website where can go through the entire process w/o using real money?

This!! I need this kind of training.

Well, you can transfer very small trivial amounts to get your feet wet. No risk, really.

 

[HRH_IceQueen]

Well, you can transfer very small trivial amounts to get your feet wet. No risk, really.

Thx for the tip! I didn't realized you can do this.

 

[tcpnomad]

Thx for the tip! I didn't realized you can do this.

Crypto supports fractional amounts, so it can be as small as you like. There may be limitations imposed by the exchange itself. But you will be transferring between your exchange account and your wallet - so it's not going anywhere anyways.

You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives .

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.

 

[HRH_IceQueen]

Crypto supports fractional amounts, so it can be as small as you like. There may be limitations imposed by the exchange itself. But you will be transferring between your exchange account and your wallet - so it's not going anywhere anyways.

You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives .

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.

View attachment 26475

Thank you for sharing your wisdom... so much to learn

 

[mybodyisasewer]

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.

This is functionally true, but I think it deserves a bit more explanation.

The Bitcoin blockchain is secured by the miners reaching a consensus. Every transaction is processed by the nodes/miners and validated before being sent. The transaction fee is actually a bid. The nodes/miners will obviously choose to process the ones which pay the most first. This is why fees go up when there is a lot of transaction activity, competition between the users to have their transaction permanently immortalized on the blockchain by other people who are spending electricity to handle it. This is what you're really paying for. Nothing is free.

 

[Iused2bCool]

Tcpnomad said...

"You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives.

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks."

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Thanks for the great idea tcpnomad , practiicing by "paying myself 1st" by using 2 wallets. That's a great idea. Ya know, my dad always told me it was important to pay yourself 1st and he also said to make sure you always have gas in the tank cause ya never know when ya might want to go get something. I never knew he was trying to teach me crypto. I always knew he was a smart fella.

 

[Iused2bCool]

Crypto supports fractional amounts, so it can be as small as you like. There may be limitations imposed by the exchange itself. But you will be transferring between your exchange account and your wallet - so it's not going anywhere anyways.

You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives .

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.

View attachment 26475

Tcpnomad, have you ever seen something so beautiful that it took your breathe away & brought tears to your eyes when you saw it? Well...that's what the chart that you posted did to me. It's beautiful! Thank you!

 

[Iused2bCool]

This is functionally true, but I think it deserves a bit more explanation.

The Bitcoin blockchain is secured by the miners reaching a consensus. Every transaction is processed by the nodes/miners and validated before being sent. The transaction fee is actually a bid. The nodes/miners will obviously choose to process the ones which pay the most first. This is why fees go up when there is a lot of transaction activity, competition between the users to have their transaction permanently immortalized on the blockchain by other people who are spending electricity to handle it. This is what you're really paying for. Nothing is free.

Thank you for letting me know the Bitcoin Blockchain is a different Immortal Electric Beast & for confirming there is not such thing as a free lunch. Sounds like Bitcoin might be something I check out once I get comfortable in the other types of transactions. I really dont want to get terminated or electrocuted on my first transaction.

I REALLY appreciate you taking time to explain the difference in Bitcoins transaction fee.

 

[tcpnomad]

Tcpnomad, have you ever seen something so beautiful that it took your breathe away & brought tears to your eyes when you saw it? Well...that's what the chart that you posted did to me. It's beautiful! Thank you!

haha - I have to give credit to ChatGPT.