crypto for idiots (aka me) lol

[AcadiaPeptides]

What percentage is your cc charging you for buying USDC?

I just looked. I used my debit card actually (sorry). It was $320 out and $320 in. The payment to the vendor had an extra charge though.

 

[attcbf]

I just looked. I used my debit card actually (sorry). It was $320 out and $320 in. The payment to the vendor had an extra charge though.

What transfer network do you use?

Kraken has a 7 day hold on funds from bank account.

I think Tron is the more expensive way to go as opposed to sol or eth. But check that with others, I could easily be wrong.

MeedzMoar, thank you very much for setting me straight. I will be switching to ACH into Moonpay, USDT-Sol via a phantom wallet to the vendor. Cheaper and quicker.

 

[HereKittyKitty]

What transfer network do you use?

MeedzMoar, thank you very much for setting me straight. I will be switching to ACH into Moonpay, USDT-Sol via a phantom wallet to the vendor. Cheaper and quicker.

Please check about Tron. I've done one crypto transaction that wasn't through CashApp (do NOT recommend). I'm no expert.

 

[attcbf]

Please check about Tron. I've done one crypto transaction that wasn't through CashApp (do NOT recommend). I'm no expert.

I was told Tron was more expensive than Sol. I was also told I could do an ACH transfer with Moonpay (trying to keep fees down), only to find out tonight that Moonpay only allows ACH transfers for sales, not purchases. This was after its chatbot confirmed I could do it. Needed human support person to figure out what for what type of actions ACH transfers are allowed. a waste of two hours of my time {end of rant}.

 

[HereKittyKitty]

I was told Tron was more expensive than Sol. I was also told I could do an ACH transfer with Moonpay (trying to keep fees down), only to find out tonight that Moonpay only allows ACH transfers for sales, not purchases. This was after its chatbot confirmed I could do it. Needed human support person to figure out what for what type of actions ACH transfers are allowed. a waste of two hours of my time {end of rant}.

That's incredibly frustrating. I hope you are (or were) able to do what you needed to do or will be able very soon.

 

[attcbf]

That's incredibly frustrating. I hope you are (or were) able to do what you needed to do or will be able very soon.

We will see. Moonpay waived the fee for my next transaction as a mea culpa for its chatbot. It essentially covers the fee I am incurring having to pay via debit card. Once this transaction is completed, I will be on the lookout for the most user friendly (and hopefully least expensive) way to use crypto for transactions with vendors going forward. I am still very, very new to this world. I definitely now understand the fears and frustrations expressed by other posters.

 

[So_krispy69]

So how i got this to work was i added money to my paypal account from a store . One in my paypal balance i bought sol through paypal using my paypal balance. Next i sent the sol to my new exodus wallet. This is where im at now i have a small test amount of sol in exodus . Now im assuming i can switch it to whatever i need in the exodus wallet like usdc then from there send to supplier does that sound about right . Not to worried about fees and things like that

 

[Calm Logic]

I

Now im assuming i can switch it to whatever i need in the exodus wallet like usdc then from there send to supplier does that sound about right .

Right. I buy PYUSD-Sol and then usually swap in Exodus to USDC-Sol (for my favorite vendor). But you can swap to anything else like BTC, etc.

 

[randompersonrandom]

Sorry, I didn't really address your main question with my first answer.

Yes, normally you should be able to purchase SOL and PYUSD in Paypal (or USDC on Coinbase) and directly transfer to the Exodus wallet Sol address. If you can't you've got some sort of location restriction (more often there's a time restriction when coming from a debit card/account).

To add to this, doing that and then using Jupiter to flip that pyusd to usdc or usdt on sol is the basis of the guide peptideusername wrote and posted in this section (not tagging him cause I don't want to summon him every time I credit him, which I always do cause he's the reason I can use crypto.)

(this has probably been mentioned multiple times on this thread already, but once a thread becomes a megathread like this one, all bets for reading through it are off)

 

[So_krispy69]

To add to this, doing that and then using Jupiter to flip that pyusd to usdc or usdt on sol is the basis of the guide peptideusername wrote and posted in this section (not tagging him cause I don't want to summon him every time I credit him, which I always do cause he's the reason I can use crypto.)

Is the benefit to doing this in Jupiter to save on fees?

 

[joseblo]

To add to this, doing that and then using Jupiter to flip that pyusd to usdc or usdt on sol is the basis of the guide peptideusername wrote and posted in this section (not tagging him cause I don't want to summon him every time I credit him, which I always do cause he's the reason I can use crypto.)

(this has probably been mentioned multiple times on this thread already, but once a thread becomes a megathread like this one, all bets for reading through it are off)

Indeed! And if you need to convert your coins to a different chain like USDC between /sol and /eth then you need a bridge. The largest of those with Web3 connection in Exodus is Wormhole (but it doesn’t work for Tron yet). If you do use wormhole, make sure you have some of the chain coin available (like ETH or SOL) for “gas” fees! Still, it will also save you a couple % in fees over using the conversion promoted by Exodus.

 

[randompersonrandom]

Is the benefit to doing this in Jupiter to save on fees?

I think so, but I'm not savvy enough to say for sure. It was in the guide to buy ten bucks of sol for gas, then buy pyusd in Paypal, send to wallet, flip to usdc or usdt with Jupiter (in exodus), and then you have your crypto to send to a vendor and it only costs either a couple of cents or a couple fractions of a cent; I've never paid attention to which.

 

[randompersonrandom]

Indeed! And if you need to convert your coins to a different chain like USDC between /sol and /eth then you need a bridge. The largest of those with Web3 connection in Exodus is Wormhole (but it doesn’t work for Tron yet). If you do use wormhole, make sure you have some of the chain coin available (like ETH or SOL) for “gas” fees! Still, it will also save you a couple % in fees over using the conversion promoted by Exodus.

I've never tried that yet; my second-favorite vendor takes stuff on tron and something else (they stopped taking PayPal, which is what I used before), but my favorite vendor takes anything on sol so I just shrugged and stayed lazy for now.

 

[joseblo]

Is the benefit to doing this in Jupiter to save on fees?

Yes, Jupiter is on /sol and you will likely be charged $0.01 or so to transfer a few $hundred. Note that there is a cost slider to adjust how quickly you need it transacted, but I've never seen it take more than a few seconds.

If you convert on Exodus directly you're probably at a 2-5%. Like $20 for a $600 exchange. If you're using Moon pay and already have several % fees that just sucks. If you come in through Coinbase or PayPal then it's almost free.

Also, just a reminder. Don't leave more than you can lose in your custodial "hot" wallet for any longer than you need to (a few days?). People get hacked all the time, and you'll see them sad post on r/Exodus.