crypto for idiots (aka me) lol

[pokenmoms]

XO Pay through Exodus is working great but pretty high fee to use, I believe it's like 4%. Any recommendations on going with coinbase or similar to avoid fees?

I did exactly that, followed the same basic steps that are listed for PayPal/cash app/etc. The cash hold from Coinbase was really the only difference. I had to wait like 5 or 6 days for the ach from the bank to clear before I could transfer to Exodus.

 

[pokenmoms]

Now my Exodus wallet is saying I'm low on Solana for the network. I own USDT on SOL and I need to buy some SOL.. WTF is this all about? Do the games never end???

I bought like 3 bucks worth of sol on my Coinbase account and transferred that to my exodus account. I can’t remember if it was in the pinned post or the 10 years in crypto here to help post, but one of them mentioned you needed like fractional cents worth of each to process transaction on the linked network. A little bit of sol to exchange on sol, a little bit of bitcoin to exchange on bitcoin, etc.

It helped me to think about it like I need x coin on y network. A lot of x to make the purchase, a little bit of y as a transfer fee on that network.

 

[Rolltide61]

I bought like 3 bucks worth of sol on my Coinbase account and transferred that to my exodus account. I can’t remember if it was in the pinned post or the 10 years in crypto here to help post, but one of them mentioned you needed like fractional cents worth of each to process transaction on the linked network. A little bit of sol to exchange on sol, a little bit of bitcoin to exchange on bitcoin, etc.

It helped me to think about it like I need x coin on y network. A lot of x to make the purchase, a little bit of y as a transfer fee on that network.

I finally figured that out after doing a bunch of reading. I don't like it though.

Funny thing. I always ask young people about tech problems I run into and they know the answer. They really don't know jack about crypto though except how to buy/sell and swap. All the deep stuff for getting peptides and gear it seems to be the over 40 crowd.

 

[anhydrous]

I finally figured that out after doing a bunch of reading. I don't like it though.

The first thing I did was buy $10 worth of SOL and ETH. That ought to cover gas for the foreseeable future!

 

[anon0]

If you can buy directly on Exodus Just buy USDC. You do not need to buy Solana and then convert to USDC that will waste money.

Is it safe to buy directly on Exodus? From what I understand, you still need to use a KYC exchange.

 

[Cdub100]

Is it safe to buy directly on Exodus? From what I understand, you still need to use a KYC exchange.

Yeah it's relatively safe thousands of people have done it. You're not going to get great rates but you're paying for convenience.

I recommend going through an established exchange that will require kyc

 

[Bakerskibum87]

What is the most used currency? Bitcoin or do different vendors use different crypto?

My vendor takes etherium usdc and I literally just pay direct out of my Coinbase app. It’s so easy I had no idea.

 

[FarmgirlRebel]

I decided to retire early and cashed out of all of my BTC and alt coins which I had been hodling for years.

I always used TradeOgre, a non KYC and rather illicit trading platform. Great place to just buy and put in a wallet anonymously.

Well apparently Canada raided the TradOgre site and it is gone as of last September.

Now, I feel like a bumbling idiot on these KYC platforms and I don't like it one bit.

Thanks everyone for the tips on KYC sites, I have moonpay already set up, I just never used it in the past...sighhh. Who knew I'd be getting back into crypto.

Exodus is the simplest wallet to use imo, but after my computer got hacked I am hesitant to use it, even with safeguards in place.

**can anyone suggest a good wallet that isn't Exodus

 

[swimmer]

I decided to retire early and cashed out of all of my BTC and alt coins which I had been hodling for years.

I always used TradeOgre, a non KYC and rather illicit trading platform. Great place to just buy and put in a wallet anonymously.

Well apparently Canada raided the TradOgre site and it is gone as of last September.

Now, I feel like a bumbling idiot on these KYC platforms and I don't like it one bit.

Thanks everyone for the tips on KYC sites, I have moonpay already set up, I just never used it in the past...sighhh. Who knew I'd be getting back into crypto.

Exodus is the simplest wallet to use imo, but after my computer got hacked I am hesitant to use it, even with safeguards in place.

**can anyone suggest a good wallet that isn't Exodus

I like Muun wallet to hold and send BTC. No KYC but it only holds BTC and BTC lightning. Lately I have had to exchange my BTC for stable coins for one vender who stopped taking BTC. I used Exodus and there were fees. The most simple way to buy BTC that I have seen is Cash App but there is KYC and fees. You jump through some hoops the first time but it's easy after that. I'm sure you can buy it cheaper on one of the big exchanges but they all have their own flavor of pain the ass.

 

[FarmgirlRebel]

I like Muun wallet to hold and send BTC. No KYC but it only holds BTC and BTC lightning. Lately I have had to exchange my BTC for stable coins for one vender who stopped taking BTC. I used Exodus and there were fees. The most simple way to buy BTC that I have seen is Cash App but there is KYC and fees. You jump through some hoops the first time but it's easy after that. I'm sure you can buy it cheaper on one of the big exchanges but they all have their own flavor of pain the ass.

Thank you, I will look into that one.

Honestly, for as much crypto as I have bought and sold, you'd think I'd have a handle of this whole purchase items side of things...but when I was buying and selling, I could do it easily on non kyc sites, but those are now a thing of the past. Sold everything last summer when BTC went high.

Cashing out of BTC almost gave me a heart attack at the time, so I don't know why I'm so bothered about risking so little on a purchase

 

[Wallydog]

I noticed at least one vendor who will accept a CC and then purchase crypto with it to complete the purchase. Not sure if they charge for this convenience but it's there.

 

[BNLFL]

Man, I'd love to pull the trigger on some of these deals with the vendors here, but this stuff is so far over my head it's insane.

 

[swimmer]

Thank you, I will look into that one.

Honestly, for as much crypto as I have bought and sold, you'd think I'd have a handle of this whole purchase items side of things...but when I was buying and selling, I could do it easily on non kyc sites, but those are now a thing of the past. Sold everything last summer when BTC went high.

Cashing out of BTC almost gave me a heart attack at the time, so I don't know why I'm so bothered about risking so little on a purchase

I hear you. I did some trading many years ago. I had to start using a VPN when KYC became widespread but you would risk them freezing your account if they found out where you reside. I have heard of people going to meetups where enthusiasts buy and sell true FTF style.

Congrats on your success with crypto. It has been very good to me as well. From just holding BTC. Everyone told me to sell at $200. Some called me stupid for not selling. They don't call me that any more!!

 

[FarmgirlRebel]

I hear you. I did some trading many years ago. I had to start using a VPN when KYC became widespread but you would risk them freezing your account if they found out where you reside. I have heard of people going to meetups where enthusiasts buy and sell true FTF style.

Congrats on your success with crypto. It has been very good to me as well. From just holding BTC. Everyone told me to sell at $200. Some called me stupid for not selling. They don't call me that any more!!

Honestly, it was probably my lack of feeling like a crypto guru that helped me make the most money. I just held on and didn't let go, lol...While I wouldn't call myself rich, I was able to retire early and not take a downgrade in lifestyle, so I call it a win.

Well done on your own crypto run.

 

[ZippityDooDah]

I noticed at least one vendor who will accept a CC and then purchase crypto with it to complete the purchase. Not sure if they charge for this convenience but it's there.

Please be very careful with this.

What they don't tell you is that your credit card issuer is going to treat the transaction as a cash advance and not a purchase which eliminates any buyer protections, they will probably charge a cash advance fee, and it will likely start accruing interest from transaction date. More importantly, the banks are getting really difficult about purchasing crypto with credit cards and there's a risk that they will close your account if they even allow the transaction in the first place.

 

[Not_Your_Dad]

I decided to retire early and cashed out of all of my BTC and alt coins which I had been hodling for years.

I always used TradeOgre, a non KYC and rather illicit trading platform. Great place to just buy and put in a wallet anonymously.

Well apparently Canada raided the TradOgre site and it is gone as of last September.

Now, I feel like a bumbling idiot on these KYC platforms and I don't like it one bit.

Thanks everyone for the tips on KYC sites, I have moonpay already set up, I just never used it in the past...sighhh. Who knew I'd be getting back into crypto.

Exodus is the simplest wallet to use imo, but after my computer got hacked I am hesitant to use it, even with safeguards in place.

**can anyone suggest a good wallet that isn't Exodus

I use Edge. Self-custody, standard risks with a warm wallet but nothing new there. All Edge wants from you is a name and email address, and you're up and running. You can buy through Edge with the usual suspects (Banxa, Simplex, Moonpay, even PayPal or Venmo), and all will have their own KYC requirements. Simplex let me buy $100 worth of ETH and SOL before asking for KYC.

I bought $500 worth of USDC-Sol with Banxa, and i got 478.99 USDC-Sol in return.

 

[Not_Your_Dad]

Now my Exodus wallet is saying I'm low on Solana for the network. I own USDT on SOL and I need to buy some SOL.. WTF is this all about? Do the games never end???

You won't need much. I bought $50 of SOL just to be safe and my last transaction of 380 USDC-Sol had gas fees of 0.00005 SOL lol.

 

[BNLFL]

So, what's this WISE and Alipay deal? I didn't want to get into the grey stuff, but the prices are really good.

 

[Wallydog]

So, what's this WISE and Alipay deal? I didn't want to get into the grey stuff, but the prices are really good.

Too good. 600mg tirz for what I was paying for 60mg!

 

[Gr33dyOctopus]

Ok, here's where I'm at, set up Exodus wallet which was pretty easy.

When I tried to link my debit card through Apple Pay for purchases KYC crap kicked in so I stopped and decided to go through PP.

Deposited cash in PP account but to actually buy bitcoin I had to give them my SS# which super annoyed me but I said screw it.

Finally purchased bitcoin but when I went to transfer to my Exodus wallet I got stopped cold by PP who wanted me to verify my ID with Gov. ID and using facial recognition? This is such BS, I only purchased a small amount and was sending an even smaller amount as a test.

I figured this wouldn't happen as I had my PP account for way over 10 years.

How does jumping through all these ridiculous convoluted hoops make any sense just to use crypto for purchases?

Cause most purchases are either drugs or mo ey laundering Very few legitimate retailers accept crypto.