Clueless about making a crypto purchase safely

[FlowerFairy]

Dos-Dox said:


You’ve clearly never had a tongue lashing if you think that was one.

The search feature for “PayPal” or “non-crypto” will give you tons of resources for vendors who take those alternatives forms of payment. Likewise, looking at all of the recent vendor posts, including the marketplace vendors, one by one will show you what payment options are out there, which is what I did and summarized in a comment on a thread months ago. (As others have said, vendors who start out taking PP typically soon stop after their accounts are frozen.) Several people on this thread also gave you places to go find that kind of information as well, but stopped just short of handing you a list of vendors.

Similarly, there are tons of crypto guides out there and threads including one from a member explicitly saying they had 10 years of crypto experience and are here to help. Did you reply to that thread or that person individually and ask for help?

The bottom line is people here are more than willing to help, but typically expect some indication you’ve done some legwork yourself. As it is, it appears as though you are posting for engagement for the sake of your forum privileges. Maybe that’s not true, but perception is someone’s reality. But I guess you’re getting there even if it’s just by some of us suggesting you research more. You’ll be a specialist in no time!

Click to expand...

I'm in the same boat, I guess — I'm capable of doing it, but I'm not confident and I'm terrified I'll mess something up. If it comes down to it, I can manage.. I just haven't reached a point where it feels easy yet.

Dos-Dox said:


In summary:

Click to expand...

OregonSunshine said:

Wallydog said:

Dos-Dox said:

Wallydog said:

Dos-Dox said:

Wallydog said:

A vendor I want to buy from only takes crypto, and I have zero clue where to begin. MoonPay crossed my mind, but I can't even figure that out (take a guess at my age). Emmy over at ERP was another option I was thinking about. Where do I start? Thanks.

Head over to Crypto Corner and begin reading there — that's where you start.

Appreciate it, but I've already gone that route, and that's exactly why I started this thread.

So why didn’t you put this thread in the crypto corner section instead? I’ve come across countless threads packed with solid advice that I’m sure would’ve helped you move beyond the “what’s my first step” phase. 57 posts in 17 days looks like you care more about “ranking up” than actually learning. Do whatever you want, but don’t act shocked when not many people are eager to spoon feed you.

Appreciate the scolding. Has it crossed your mind that newcomers arrive with plenty of questions since a few of us (myself included) are completely lost when it comes to crypto? Dial it back a bit before you start passing judgment on what my reasons are, please.

Like I said, I went through the crypto section and in my view there was way too much info scattered in 12 different directions for it to do me any good. That's why I figured a post in another sub might pull me out of the murky water.

Hopefully that puts your worries to rest.

A guide exists that takes you through every single step, one at a time. Short of that, I can't imagine what more anyone in this community could possibly offer to make it any clearer for you.

That's the part that gets to me, I think. When I have no other option, I go with Kraken, since it walked me through everything step by step. Still, I don't feel at ease using it.. I only do it when I have no choice.

Plus, I'm accustomed to handling things by myself, so asking someone else for help is something I push back against.

Edited because I can't type tonight…

 

[Ruckus4519]

FlowerFairy said:


im unsure and petrified of making a mistake. I van do it if I have to.. i just haven’t gotten comfortable yet.

Click to expand...

i'm in a comparable spot. i wouldn't say i'm petrified exactly. when it really comes down to it, i just can't be bothered to take the leap, yet another part of me insists that some changes are necessary

 

[randompersonrandom]

FlowerFairy said:


I think it’s like me- I can do it but im unsure and petrified of making a mistake. I van do it if I have to.. i just haven’t gotten comfortable yet.

It’s the scary part, I think. I use Kraken when ihave to do it, because it spoonfed me thru it. But I’m not comfortable yet using it.. ijust do it if I have to.

And I’m used to being able toget it on my own, so I’m resistant to asking for help.

Edited because I can’t type tonight…

Click to expand...

What worked for me was handing a few dollars to a handful of folks I already knew from the internet, one small transfer at a time, and having each of them tell me if it arrived. (Please, absolutely no one message me volunteering for this — having put the idea out there, taking cash from anyone now would make it seem like that had been my plan from the start.) Each of them offered to return the money afterward, which I found genuinely kind, but I turned it down, explaining it was compensation for their effort, and everybody came away satisfied.

One warning attached to that: this forum is probably the wrong place to try it, since someone could argue the recipient becomes a vendor in a technical sense once you're compensating them for a service. There are other ways, though, to find friendly people who wouldn't say no to a couple of dollars that don't involve this forum.

 

[Hambocommando]

I've spent a fair amount of time around crypto. Some got taken from me, I've taken losses, I've had gains too...the whole spectrum. Uphold.com stands out as one of the most user-friendly trading platforms I've run into. Linking a debit card or bank account to your wallet lets you buy whichever crypto you're after. The fees they charge are higher than I'd prefer, but you're paying for convenience. They use something called KYC (know your customer), which may require you to submit a photo ID plus a live face photo to verify you're a real person. When I first signed up there, the process was fairly simple and guided, since for a stretch they were the only US option offering XRP. Make sure you enable every security measure like 2nd party verifications, and if you're not in it to trade crypto, just buy the amount you need and send it straight to the vendor's wallet address from your crypto wallet over that network.

 

[Ruckus4519]

Hambocommando said:

I've spent a fair amount of time around crypto. Some got taken from me, I've taken losses, I've had gains too...the whole spectrum. Uphold.com stands out as one of the most user-friendly trading platforms I've run into. Linking a debit card or bank account to your wallet lets you buy whichever crypto you're after. The fees they charge are higher than I'd prefer, but you're paying for convenience. They use something called KYC (know your customer), which may require you to submit a photo ID plus a live face photo to verify you're a real person. When I first signed up there, the process was fairly simple and guided, since for a stretch they were the only US option offering XRP. Make sure you enable every security measure like 2nd party verifications, and if you're not in it to trade crypto, just buy the amount you need and send it straight to the vendor's wallet address from your crypto wallet over that network.

honestly, basically every option does KYC these days because of anti-money laundering rules. paypal does KYC too. the BTC ATMs where you use cash also do KYC. if you're trying to dodge that, your best bet is probably finding somebody in person who will buy crypto and send it to you

 

[Wally H]

Ruckus4519 said:

Going the PayPal/Alipay/whatever route is nothing to be ashamed of. From what I understand, the risk ends up being about the same either way, since it comes down to how reputable the vendor is.

With crypto, there's more room for the user to screw something up. People say you just copy and paste, but I'm the kind of person who punches the same basic equation into a calculator over and over "just to be sure"

If you've honestly gone through the whole Crypto Corner forum twice, front to back, then hats off to you. I've only made it halfway and I'm STILL not ready to pull the trigger. I've got a rough sense of which direction I want to take, but the exact way I want to onboard is where I keep getting stuck.

However, you do have to submit photos of a current passport, and the verification process takes 1 or 2 days

 

[Ruckus4519]

Wally H said:

Ruckus4519 said:

Going the PayPal/Alipay/whatever route is nothing to be ashamed of. From what I understand, the risk ends up being about the same either way, since it comes down to how reputable the vendor is.

With crypto, there's more room for the user to screw something up. People say you just copy and paste, but I'm the kind of person who punches the same basic equation into a calculator over and over "just to be sure"

If you've honestly gone through the whole Crypto Corner forum twice, front to back, then hats off to you. I've only made it halfway and I'm STILL not ready to pull the trigger. I've got a rough sense of which direction I want to take, but the exact way I want to onboard is where I keep getting stuck.

However, you do have to submit photos of a current passport, and the verification process takes 1 or 2 days

Is there any crypto exchange out there that doesn't require either of those things?

 

[lasveganon]

Here's a step-by-step write-up I put together for people who've never touched crypto before and need to buy stablecoins and send them to a vendor. It's built around USDC on the Ethereum (ERC-20) network, though the same approach works for other stablecoins on chains like Solana or Tron with some tweaks.

What makes this route nice: your money isn't locked up in holds, and the transfer itself costs next to nothing.

Step 1:

Sign up for Robinhood and get verified (roughly 10 minutes). You'll link a bank while setting up, but this method doesn't use it.

Step 2:

Attach a debit card. Navigate to the menu → Transfers → Linked Accounts → Add Account → type in your debit card details.

Step 3:

Load funds from that debit card for the amount of your order plus $10. Skip your linked bank account entirely.

Step 4:

Purchase USDC equal to your order amount plus $5

Step 5:

Spend the leftover $5 on Ethereum (ETH).

At this point you should be holding USDC and ETH that can be transferred right away.

Step 6:

Move the USDC and ETH over to a third-party wallet of your choice (Exodus, Trust, MetaMask, etc.).

Never send straight from Robinhood to the vendor.

For the USDC transfer, pick the Ethereum network (ERC-20 on Ethereum). Picking a different network can mean your funds disappear.

Step 7:

With both assets sitting in your wallet, forward the USDC to the vendor's ERC-20 wallet address. Choose the Ethereum network again.

The ETH doesn't get sent — it exists only to pay network fees.

Step 8:

Find the transaction ID (TxID) in your wallet's history and pass it along to the vendor.

One caveat: this won't work for tx residents. Robinhood blocks usdc/usdt purchases for them, but there's a cheaper workaround for that situation as well.

 

[LivingNow]

lasveganon said:

Here's a step-by-step write-up I put together for people who've never touched crypto before and need to buy stablecoins and send them to a vendor. It's built around USDC on the Ethereum (ERC-20) network, though the same approach works for other stablecoins on chains like Solana or Tron with some tweaks.

What makes this route nice: your money isn't locked up in holds, and the transfer itself costs next to nothing.

Step 1:

Sign up for Robinhood and get verified (roughly 10 minutes). You'll link a bank while setting up, but this method doesn't use it.

Step 2:

Attach a debit card. Navigate to the menu → Transfers → Linked Accounts → Add Account → type in your debit card details.

Step 3:

Load funds from that debit card for the amount of your order plus $10. Skip your linked bank account entirely.

Step 4:

Purchase USDC equal to your order amount plus $5

Step 5:

Spend the leftover $5 on Ethereum (ETH).

At this point you should be holding USDC and ETH that can be transferred right away.

Step 6:

Move the USDC and ETH over to a third-party wallet of your choice (Exodus, Trust, MetaMask, etc.).

Never send straight from Robinhood to the vendor.

For the USDC transfer, pick the Ethereum network (ERC-20 on Ethereum). Picking a different network can mean your funds disappear.

Step 7:

With both assets sitting in your wallet, forward the USDC to the vendor's ERC-20 wallet address. Choose the Ethereum network again.

The ETH doesn't get sent — it exists only to pay network fees.

Step 8:

Find the transaction ID (TxID) in your wallet's history and pass it along to the vendor.

One caveat: this won't work for tx residents. Robinhood blocks usdc/usdt purchases for them, but there's a cheaper workaround for that situation as well.

I'm fairly sure I finally understand what my Granny went through when I tried to walk her through setting the VCR to tape her soaps. lol

 

[stonedpixels]

Not sure whether anyone brought this up yet, but Cash App makes buying and sending crypto incredibly easy if you've got it. When you buy, you can go straight from $ to crypto, so there's no need to work out the math on your own. Purchasing crypto through Cash App is fairly straightforward—just stay calm and it'll click. For sending, the key thing is getting the crypto address right (copy/paste it), then hit send. It's super simple once you give it a shot, though I wouldn't keep the btc sitting in Cash App for very long. I just don't have faith in its long-term security there.

 

[Wallydog]

LivingNow said:

lasveganon said:

Here's a step-by-step write-up I put together for people who've never touched crypto before and need to buy stablecoins and send them to a vendor. It's built around USDC on the Ethereum (ERC-20) network, though the same approach works for other stablecoins on chains like Solana or Tron with some tweaks.

What makes this route nice: your money isn't locked up in holds, and the transfer itself costs next to nothing.

Step 1:

Sign up for Robinhood and get verified (roughly 10 minutes). You'll link a bank while setting up, but this method doesn't use it.

Step 2:

Attach a debit card. Navigate to the menu → Transfers → Linked Accounts → Add Account → type in your debit card details.

Step 3:

Load funds from that debit card for the amount of your order plus $10. Skip your linked bank account entirely.

Step 4:

Purchase USDC equal to your order amount plus $5

Step 5:

Spend the leftover $5 on Ethereum (ETH).

At this point you should be holding USDC and ETH that can be transferred right away.

Step 6:

Move the USDC and ETH over to a third-party wallet of your choice (Exodus, Trust, MetaMask, etc.).

Never send straight from Robinhood to the vendor.

For the USDC transfer, pick the Ethereum network (ERC-20 on Ethereum). Picking a different network can mean your funds disappear.

Step 7:

With both assets sitting in your wallet, forward the USDC to the vendor's ERC-20 wallet address. Choose the Ethereum network again.

The ETH doesn't get sent — it exists only to pay network fees.

Step 8:

Find the transaction ID (TxID) in your wallet's history and pass it along to the vendor.

One caveat: this won't work for tx residents. Robinhood blocks usdc/usdt purchases for them, but there's a cheaper workaround for that situation as well.

I'm fairly sure I finally understand what my Granny went through when I tried to walk her through setting the VCR to tape her soaps. lol

Or like trying to explain DOS or Windows to somebody who has never touched a computer before.

 

[attcbf]

lasveganon said:

Here's a step-by-step write-up I put together for people who've never touched crypto before and need to buy stablecoins and send them to a vendor. It's built around USDC on the Ethereum (ERC-20) network, though the same approach works for other stablecoins on chains like Solana or Tron with some tweaks.

What makes this route nice: your money isn't locked up in holds, and the transfer itself costs next to nothing.

Step 1:

Sign up for Robinhood and get verified (roughly 10 minutes). You'll link a bank while setting up, but this method doesn't use it.

Step 2:

Attach a debit card. Navigate to the menu → Transfers → Linked Accounts → Add Account → type in your debit card details.

Step 3:

Load funds from that debit card for the amount of your order plus $10. Skip your linked bank account entirely.

Step 4:

Purchase USDC equal to your order amount plus $5

Step 5:

Spend the leftover $5 on Ethereum (ETH).

At this point you should be holding USDC and ETH that can be transferred right away.

Step 6:

Move the USDC and ETH over to a third-party wallet of your choice (Exodus, Trust, MetaMask, etc.).

Never send straight from Robinhood to the vendor.

For the USDC transfer, pick the Ethereum network (ERC-20 on Ethereum). Picking a different network can mean your funds disappear.

Step 7:

With both assets sitting in your wallet, forward the USDC to the vendor's ERC-20 wallet address. Choose the Ethereum network again.

The ETH doesn't get sent — it exists only to pay network fees.

Step 8:

Find the transaction ID (TxID) in your wallet's history and pass it along to the vendor.

One caveat: this won't work for tx residents. Robinhood blocks usdc/usdt purchases for them, but there's a cheaper workaround for that situation as well.

Someone told me that USDC withdrawals on Robinhood are on hold right now. This is what their site says:

"Withdrawals for EURC and USDC are temporarily paused. You can continue to buy, sell, and deposit these assets. We’ll provide an update when withdrawals are available again."

Any way around this?

 

[attcbf]

lasveganon said:

Here's a step-by-step write-up I put together for people who've never touched crypto before and need to buy stablecoins and send them to a vendor. It's built around USDC on the Ethereum (ERC-20) network, though the same approach works for other stablecoins on chains like Solana or Tron with some tweaks.

What makes this route nice: your money isn't locked up in holds, and the transfer itself costs next to nothing.

Step 1:

Sign up for Robinhood and get verified (roughly 10 minutes). You'll link a bank while setting up, but this method doesn't use it.

Step 2:

Attach a debit card. Navigate to the menu → Transfers → Linked Accounts → Add Account → type in your debit card details.

Step 3:

Load funds from that debit card for the amount of your order plus $10. Skip your linked bank account entirely.

Step 4:

Purchase USDC equal to your order amount plus $5

Step 5:

Spend the leftover $5 on Ethereum (ETH).

At this point you should be holding USDC and ETH that can be transferred right away.

Step 6:

Move the USDC and ETH over to a third-party wallet of your choice (Exodus, Trust, MetaMask, etc.).

Never send straight from Robinhood to the vendor.

For the USDC transfer, pick the Ethereum network (ERC-20 on Ethereum). Picking a different network can mean your funds disappear.

Step 7:

With both assets sitting in your wallet, forward the USDC to the vendor's ERC-20 wallet address. Choose the Ethereum network again.

The ETH doesn't get sent — it exists only to pay network fees.

Step 8:

Find the transaction ID (TxID) in your wallet's history and pass it along to the vendor.

One caveat: this won't work for tx residents. Robinhood blocks usdc/usdt purchases for them, but there's a cheaper workaround for that situation as well.

Thanks for laying all of that out. For steps 3, 4, 5 & 6, how long should someone expect to wait between each one?

 

[Madkate]

Wallydog said:

A vendor I want to buy from only takes crypto, and I have zero clue where to begin. MoonPay crossed my mind, but I can't even figure that out (take a guess at my age). Emmy over at ERP was another option I was thinking about. Where do I start? Thanks.

At first I felt the same kind of nervousness, yet honestly it's quite simple. My choice was Exodus as a wallet, and getting it running takes almost no effort. You just install the app on your phone, then the instructions are very straightforward to keep up with. Before, I couldn't stand the thought of anything involving crypto; these days it feels effortless…….trust me, there's no need to feel nervous

 

[Madkate]

View: https://youtu.be/-t_MZEM37-w?si=hz0VR6hTNi9-drnj

 

[dobermom21]

Wallydog said:

A vendor I want to buy from only takes crypto, and I have zero clue where to begin. MoonPay crossed my mind, but I can't even figure that out (take a guess at my age). Emmy over at ERP was another option I was thinking about. Where do I start? Thanks.

My Exodus wallet was created just last week, and earlier today I completed my initial transaction.

Fees apply when purchasing, and also when converting between different cryptocurrencies. I picked up Solana, swapped the bulk of it into a stablecoin (Tether), yet the purchase couldn't go through unless I acquired additional funds, since transferring to ethereum required me to first buy ethereum. (Possibly because they share a network?)

Rather than spend time diagnosing the exact issue, I dealt with my bank rejecting blockchain by changing how I paid and simply purchasing bitcoin via MoonPay. That did the trick.

After that, I followed the vendor's directions and the payment went through. With extreme caution. Phew!

So my advice: avoid depositing a large sum upfront, and begin with a modest order. My total spend was under $140, and my wallet currently holds under $200. I'm confident it becomes simpler with practice, though my hands were trembling slightly.

 

[Sasquatch]

Tip for a better experience!

Whenever someone new looks into things, arrange results by newest first.

Things move quickly around here.

Look at the dates on posts

Avoid reviving an old dead thread.

I keep repeating this.

What was current yesterday is only good for lining a birdcage today. Get it?

 

[bbbilly]

ascensionotter said:

On my initial attempt, my bank refused all crypto transactions, including bank transfers, so I ended up buying via Exodus wallet using venmo. It caused a lot of frustration, but after venmo was set up, the process turned out to be fairly simple.

that's off-topic... but i dig your avatar, man. solid pick

 

[lasveganon]

LivingNow said:

lasveganon said:

Here's a step-by-step write-up I put together for people who've never touched crypto before and need to buy stablecoins and send them to a vendor. It's built around USDC on the Ethereum (ERC-20) network, though the same approach works for other stablecoins on chains like Solana or Tron with some tweaks.

What makes this route nice: your money isn't locked up in holds, and the transfer itself costs next to nothing.

Step 1:

Sign up for Robinhood and get verified (roughly 10 minutes). You'll link a bank while setting up, but this method doesn't use it.

Step 2:

Attach a debit card. Navigate to the menu → Transfers → Linked Accounts → Add Account → type in your debit card details.

Step 3:

Load funds from that debit card for the amount of your order plus $10. Skip your linked bank account entirely.

Step 4:

Purchase USDC equal to your order amount plus $5

Step 5:

Spend the leftover $5 on Ethereum (ETH).

At this point you should be holding USDC and ETH that can be transferred right away.

Step 6:

Move the USDC and ETH over to a third-party wallet of your choice (Exodus, Trust, MetaMask, etc.).

Never send straight from Robinhood to the vendor.

For the USDC transfer, pick the Ethereum network (ERC-20 on Ethereum). Picking a different network can mean your funds disappear.

Step 7:

With both assets sitting in your wallet, forward the USDC to the vendor's ERC-20 wallet address. Choose the Ethereum network again.

The ETH doesn't get sent — it exists only to pay network fees.

Step 8:

Find the transaction ID (TxID) in your wallet's history and pass it along to the vendor.

One caveat: this won't work for tx residents. Robinhood blocks usdc/usdt purchases for them, but there's a cheaper workaround for that situation as well.

I'm fairly sure I finally understand what my Granny went through when I tried to walk her through setting the VCR to tape her soaps. lol

I remain completely lost on how to pull that off

 

[So_krispy69]

Madkate said:

Wallydog said:

A vendor I want to buy from only takes crypto, and I have zero clue where to begin. MoonPay crossed my mind, but I can't even figure that out (take a guess at my age). Emmy over at ERP was another option I was thinking about. Where do I start? Thanks.

At first I felt the same kind of nervousness, yet honestly it's quite simple. My choice was Exodus as a wallet, and getting it running takes almost no effort. You just install the app on your phone, then the instructions are very straightforward to keep up with. Before, I couldn't stand the thought of anything involving crypto; these days it feels effortless…….trust me, there's no need to feel nervous

When you were getting it set up, did your social security number go in? I was going through the pinned step by step guide here in this forum to set it up, and it told me I needed to provide my details, social included, so that's the point where I quit