How can I tell what I bought?

[cloratheshadow]

I bought ETH on Robinhood, transferred it to my exodus wallet. But I’m confused on what USDT/USDC is. Did I purchase the wrong thing? The vendor I’m interested in accepts “USDT/USDC/BTC”

I’ve been reading lots of forums for weeks now but I am still confused. I don’t want to mess this first purchase up any help or links to answers is so appreciated

 

[cloratheshadow]

Let me clarify. The confusion comes from seeing things like “usdt ETH” or something? Am I losing it?

 

[CNCCurrency]

Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform

 

[JuneBug1956]

Let me clarify. The confusion comes from seeing things like “usdt ETH” or something? Am I losing it?

I am not an expert but I put your question into AI and it can explain to you. If you are on PGB there are good resources there and experts on Crypto also. I am too chicken to use it myself. Good luck. I sent you a DM with the search.

 

[Minkster]

USDT ETH means usdt sent over the ethereum (eth) network. You can also have usdt sol, usdt tron.You need to ask the vendor which network they are using for their usdt and use the same one. For instance, if you try to send usdt eth to a usdt sol wallet it will be lost. And you will need some of the network token also as gas money. So if sending usdt eth, you also need a small amount of straight Eth (ethereum). Usdc/usdt are stable coins that pretty much stay $1 for US $1.

Eth, Trn, Sol, BTC coin all fluctuate with the market so it's possible the amount could be less after you send it. Since you bought Eth you can ask vendor if they accept straight Eth, otherwise you'll need to swap the amount needed to pay from Eth to usdt or usdc on Eth network, keeping a couple bucks of eth for gas money.

 

[anhydrous]

If I were in your shoes I would try what Minkster recommended. Tell your vendor that you have eth and see if they'll take it. I would be shocked if they turned you down but only then would I move on to plan B.

 

[Calm Logic]

By the way, I would strongly suggest getting the vendor to confirm a test payment before sending any substantial amount. I would also use a crypto explorer website to see for yourself that it hit, like looking under transfers.

 

[cloratheshadow]

By the way, I would strongly suggest getting the vendor to confirm a test payment before sending any substantial amount. I would also use a crypto explorer website to see for yourself that it hit, like looking under transfers.

I converted it to USDT ETH and now I think I understand. Sent her $5 and she confirmed she received it. Sent the other $130 and it looks like it’s the right address and network. Thanks for the tip!

 

[agussie]

if you see things like usdt/eth, usdc/eth, usdc/sol, etc. The first part is the crypto (coin) you pay in, the second is the network you send it on. The third part, is that you have to have some of the network native coin to pay the network fees to send the payment (its called gas).

so, if a vendor requires payment in usdt/eth, you need to pay the requested amount in USDT, send on the Ethereum (ERC-20) network. You also need to have a small amount of ETH in your wallet to pay the gas to transfer the payment.

You can lose all of your sent payment if you don't use the right network, primarily with ETH as there is the ERC20 network, and the BASE network. I have yet to see a vendor request payment via the base network.

Read all the crypto information you can find before sending anything.

SEND A VERY SMALL TEST TRANSFER AND ASK THE SUPPLIER TO VERIFY RECEIPT OF THE TEST BEFORE MAKING THE FULL PAYMENT IF YOU HAVEN'T TRANSFERED BEFORE.

You'd rather lose $5 than $500

 

[CycleSloth]

I thought the information in Stairway to Gray Crypto 101 guide (I cannot seem to post links) was very helpful.