First crypto transfer NUKED

[yrrdead]

Welp. My eth has gone down 18% since purchasing it, waiting for Venmo to release it to transfer to exodus. Really hoping it come back up to what I bought so I can hopefully have enough to cover the purchase.

Hmm that sucks , I think that the play in the future will be PYUSD > Exodus >Swap PYUSD - USDC > Pay vendor. I'm going to try that out and see how that goes.

I just had a pain in the butt time converting PYUSD into USDT. But I believe that PYUSD to USDC is easy.

This avoids crypto fluctuations since you stay in stablecoins the whole time (though will probably need a little Eth for gas).

 

[Blvr7]

You got it.

Venmo > $ > Ethereum > Exodus > Leave a little Eth, Exchange majority to USDC > Vendor

Welp. My eth has gone down 18% since purchasing it, waiting for Venmo to release it to transfer to exodus. Really hoping it come back up to what I bought so I can hopefully have enough to cover the purchase.

 

[Blvr7]

Hmm that sucks , I think that the play in the future will be PYUSD > Exodus >Swap PYUSD - USDC > Pay vendor. I'm going to try that out and see how that goes.

I just had a pain in the butt time converting PYUSD into USDT. But I believe that PYUSD to USDC is easy.

This avoids crypto fluctuations since you stay in stablecoins the whole time (though will probably need a little Eth for gas).

Hmm that sucks , I think that the play in the future will be PYUSD > Exodus >Swap PYUSD - USDC > Pay vendor. I'm going to try that out and see how that goes.

I just had a pain in the butt time converting PYUSD into USDT. But I believe that PYUSD to USDC is easy.

This avoids crypto fluctuations since you stay in stablecoins the whole time (though will probably need a little Eth for gas).

I’m not even to the swapping part yet and I’m so over it. Is it possible the eth will recover to what I need or should I bail it out and try to swap it now?

 

[Estarossa19]

Welp. My eth has gone down 18% since purchasing it, waiting for Venmo to release it to transfer to exodus. Really hoping it come back up to what I bought so I can hopefully have enough to cover the purchase.

I stick with vendors that accept stablecoins to avoid this. USDC-SOL is accepted by most.

 

[HereKittyKitty]

I stick with vendors that accept stablecoins to avoid this. USDC-SOL is accepted by most.

If a vendor only accepts crypto I don't want to use, I don't buy from them.

 

[Not_Your_Dad]

My Venmo experience was really easy. I had cash in Venmo that had been sitting for a while. I bought PYUSD hoping to hedge against fluctuations in ETH. My end target was USDC-Erc20. I bought the PYUSD ($380 worth I think). Within 2 minutes Venmo released to me, and then I immediately sent to my Edge wallet - that took maybe 5 minutes for it to arrive there.

I swapped the PYUSD for USDC-Erc20 right on Edge, and that was the most annoying part, since it cost me $20ish in fees.

The transaction itself was easy. I really don't like the KYC you have to do to use crypto on Venmo, and the ID scan and selfie to send it, but, wtf can we do?

Next time I'll just buy ETH I think and see if that's any cheaper to exchange for USDC. Or maybe the vendor will just accept ETH.

I get the impression (I don't think that's an official policy or anything but it just -feels- like it) that it's important to have "settled" funds in your Venmo when buying crypto, whether they say it or not.

 

[Bioexplorer]

Ugh! Just link your bank account to coinbase, buy USDC or USDT and send it to yourself from coinbase to exodus.

I had old bitcoin sitting in coinbase but didn't want to touch it so I just bought the amount I needed of USDC and USDT, sent to my exodus and was able to pay vendors both on Sol and Eth.

Good luck! I know how frustrating crypto is.

Seriously. I don't understand the reluctance to link your bank to Coinbase. This isn't something shady.

 

[MikerJecksun]

I would recommend Robinhood. Convert dollars to USDC for no fees, then transfer to exodus for purchases.

 

[Blvr7]

Seriously. I don't understand the reluctance to link your bank to Coinbase. This isn't something shady.

I had to do this. As Venmo wouldn’t release my eth and the debit card purchase kept getting declined. How long do they hold funds before letting me transfer out to exodus?

 

[Bioexplorer]

I had to do this. As Venmo wouldn’t release my eth and the debit card purchase kept getting declined. How long do they hold funds before letting me transfer out to exodus?

I believe it's 3 to 5 days. Plan ahead for any purchases. The Coinbase - Exodus - Vendor transfers are a very smooth and easy process once you go through it. I was so concerned the first time, that I wanted to do a small $10 transfer to the vendor as a test before moving the balance. Vendor basically said "No. Trust the process. No worries." They were correct.

 

[HereKittyKitty]

I had to do this. As Venmo wouldn’t release my eth and the debit card purchase kept getting declined. How long do they hold funds before letting me transfer out to exodus?

Depends on where the funds originate. Bank transfer is 7 days. Credit card/PP is 3, I think.

 

[Blvr7]

Depends on where the funds originate. Bank transfer is 7 days. Credit card/PP is 3, I think.

The debit cart wouldn’t go through repeatedly. Had to attach a bank.

 

[Commander]

My Venmo experience was really easy. I had cash in Venmo that had been sitting for a while. I bought PYUSD hoping to hedge against fluctuations in ETH. My end target was USDC-Erc20. I bought the PYUSD ($380 worth I think). Within 2 minutes Venmo released to me, and then I immediately sent to my Edge wallet - that took maybe 5 minutes for it to arrive there.

I swapped the PYUSD for USDC-Erc20 right on Edge, and that was the most annoying part, since it cost me $20ish in fees.

The transaction itself was easy. I really don't like the KYC you have to do to use crypto on Venmo, and the ID scan and selfie to send it, but, wtf can we do?

Next time I'll just buy ETH I think and see if that's any cheaper to exchange for USDC. Or maybe the vendor will just accept ETH.

I get the impression (I don't think that's an official policy or anything but it just -feels- like it) that it's important to have "settled" funds in your Venmo when buying crypto, whether they say it or not.

Isn’t Erc20 USDT?

 

[yrrdead]

Isn’t Erc20 USDT?

Can be, also on tron's network as well. But the U.S. is pretty anti Tron so Venmo/Paypal doesn't play well with it. Coinbase is in bed with Circle so they don't even support getting USDT or Tron on their platform.

Now that I've helped some other people, fumbled around on my own , my current reccomendations for people using Venmo/Paypal is PYUSD and if on Coinbase USDCeth (no swaps needed)

 

[Commander]

Can be, also on tron's network as well. But the U.S. is pretty anti Tron so Venmo/Paypal doesn't play well with it. Coinbase is in bed with Circle so they don't even support getting USDT or Tron on their platform.

Now that I've helped some other people, fumbled around on my own , my current reccomendations for people using Venmo/Paypal is PYUSD and if on Coinbase USDCeth (no swaps needed)

I have to pay my vendor with USDT TRC20 or ERC20. On Exodus it wouldn’t allow me to link my bank account (through Moonpay) only my debit card. But them when I went to pay for it, it wouldn’t let me lay with the debit cart amd I had to pay through Venmo, and those fees were super high.

Tried to buy on coinbase and send to Exodus, but that gave me problems too. And every time you “swap” from one crypto to another you get hit with fees. So basically to get $1500 in the right crypto it cost me $200.. there has got to be a better way

 

[Not_Your_Dad]

Isn’t Erc20 USDT?

Not necessarily.

You can get both USDC and USDT on Erc20.

 

[WYSiWYG]

Coinbase > Exodus > Vendor In that order I use BTC, less hassle, but bigger fee which I don't mind

this is my path - if you are worried about BTC - most take stable coins - such as USDT, or USDC - but you will still need 'gas' for their specific networks - which is usually not much - so having a little there isn't as painful with regard to volatility

 

[Collo4sho]

I bought tether on coinbase through PayPal. They put a 7 day hold on my funds. Going to transfer to exodus and purchase from there. Hopefully all goes well and I don't fat finger the transaction and lose my dough.

 

[oldrunnerguy]

I bought BTC via Coinbase and, after all the required initial waiting, transferred it to my Exodus wallet. I just completed my first crypto purchase without a hitch. (Actually it was stress-free with the LLM holding my hand the whole way). Don't be afraid, it's actually pretty easy.

 

[GrandmaJ]

Ugh! Just link your bank account to coinbase, buy USDC or USDT and send it to yourself from coinbase to exodus.

I had old bitcoin sitting in coinbase but didn't want to touch it so I just bought the amount I needed of USDC and USDT, sent to my exodus and was able to pay vendors both on Sol and Eth.

Good luck! I know how frustrating crypto is.

I can't get coinbase to transfer USDT on Sol. Do you mind sharing how you did that? Trying coinbase because Paypal keeps saying they can't verify it is me and won't let me transfer my owned PYUSD to my exodus wallet now. I hate Paypal and that they can deny a transfer to my exodus wallet even while I am logged in and aswered every security question they had about my identity.