Buying Crypto on Coinbase

[Bigdog0628]

I’m about to make my very first crypto buy through Coinbase, move it over to Exodus, and then forward it to my supplier. I’ve included the payment methods my vendor supports, plus the USDC choices that show up on Coinbase. How can I tell which option on Coinbase is the right one to get? Any guidance would be appreciated, thanks

 

[Throttle883]

I paid this vendor with SOL. The transaction went very smoothly.

 

[woundcarping]

Whatever options they gave you will work fine. For just about every order I place, USDC-SOL is what I go with. My reasoning for USDC is that it holds a steady value and is taken almost everywhere; for SOL, it's the speed and low cost that won me over.

On top of that, you have to get some base chain "gas" — in my case that means Solana. Across loads of transactions over a 2 month stretch, my gas spending came to roughly a dollar.

 

[sheilarae74]

For every one of my purchases, I have also gone with USDC-SOL. Nearly all the vendors I have come across accept it, and from what I have dealt with, sol carries the lowest network fees.

 

[CMA Pooky]

One thing you might want to do is locate a second supplier and check which cryptocurrencies they accept. Should that backup accept the same coins as your primary source, then whenever vendor #1 runs out of stock down the line, you'll be able to order from vendor #2 instead.

 

[mybodyisasewer]

What's the reason everybody goes with USDC SOL? BTC is the most widely used and most straightforward protocol. Is there a benefit here that I'm unaware of?

 

[CMA Pooky]

mybodyisasewer said:

What's the reason everybody goes with USDC SOL? BTC is the most widely used and most straightforward protocol. Is there a benefit here that I'm unaware of?

A handful of folks have said they prefer stablecoins because of the fixed price and steadiness. Their reasoning: they picked up Bitcoin or Eth when prices were high, and by the time they used it to pay vendors, the value had fallen, so they ended up losing money on the transaction.

 

[woundcarping]

mybodyisasewer said:

What's the reason everybody goes with USDC SOL? BTC is the most widely used and most straightforward protocol. Is there a benefit here that I'm unaware of?

USDC-SOL is stable, accepted in a lot of places, inexpensive, and quick to move.

BTC is also accepted widely, though it isn't stable. On SOL, it's inexpensive and quick to transfer.

That steadiness is generally a good thing, particularly when your crypto holdings are in the 4-5+ figure range, or when you're buying crypto right as you purchase peptides and want to avoid slippage.