Coinbase purchase then transfer to Exodus compared with buying straight from Exodus

Commander

Commander

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I keep noticing folks recommend getting crypto on Coinbase first and then moving it over to your Exodus wallet, claiming that this cuts down on costs. My own experience: I picked up USDT on Coinbase, and the charges matched what I would have paid if I had bought it straight through Exodus (using moonpay). On top of that, I got hit with another fee just to transfer it into Exodus.

Given all that, what makes this route any improvement over simply purchasing inside Exodus?
 
If your payment method isn't a card but rather some form of bank transfer, fees will apply no matter which service you choose.

For my USDC purchases on Coinbase, I mostly use bank transfers, which means I incur no fees, and sending it over to Exodus also costs me nothing.
 
My payment method is a debit card. If I connect my bank account to it, would that mean no fees apply?
 
Commander said:

My payment method is a debit card. If I connect my bank account to it, would that mean no fees apply?
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With a debit card, Coinbase appears to take roughly 2.4%. When I use a bank transfer, there is no charge at all, and my limit through the bank account is far larger (more than 100x) than what the debit card allows.

Often, my bank transfers go through without any delay.
 
woundcarping said:


It looks like Coinbase charges ~2.4% with a debit card. They charge nothing with a bank transfer and my transfer limit is considerably higher (over 100x) using the bank account vs debit card.

Frequently my bank transfers don't have a transfer delay either.

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I've held a Coinbase account for ages, yet I've basically never moved any funds out. With my initial bank transfer, there was a 7 day hold, but using my debit card meant no waiting period at all.
 
Commander said:

OK, is it normal for every bank transfer to be held for a long time?
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woundcarping said:


Frequently my bank transfers don't have a transfer delay.

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...

There are times when that happens, and plenty of times when it doesn't. As far as I remember, the initial one came with a wait.

Fortunately, the expected length of that wait is shown to you prior to sending the funds.
 
Commander said:

I linked my bank account. On a $1000 purchase, the platform asked for 1% along with an $18 fee...
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The reason for that charge comes down to which stablecoin you picked: USDT. Choosing USDC instead ought to cost nothing, and moving it over the SOL network should also come at no cost.
 
woundcarping said:

Commander said:

I linked my bank account. On a $1000 purchase, the platform asked for 1% along with an $18 fee...
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The reason for that charge comes down to which stablecoin you picked: USDT. Choosing USDC instead ought to cost nothing, and moving it over the SOL network should also come at no cost.
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Got it… that explains it. Annoying though, since my vendor accepts nothing but BTC and USDT
 
Buying USDT through Exodus is something I can't stand. Once I go past $100, Moonpay only lets me use Venmo or PayPal, and those come with much higher fees.

And forget about the Coinbase-then-send-to-Exodus route. My Crypto gets locked up by Coinbase holds.

Trust Wallet has caught my attention lately. Based on what I've read, the gas fee comes straight out of the USDT, meaning I wouldn't need to keep gas separately.

USDT TRC20, Solana, and ERC20 are the only things my vendor takes. Paying by bank account or Debit Card is what I'm after.

Is there anyone here who has info on Trust Wallet?
 
In the end, I went with Trust Wallet rather than Exodus. There are far more payment methods available there. Oobit is something else I'm checking out. Has anyone here bought Crypto through Oobit?
 
Link your checking account through ACH and verify it with Plaid. If you go through pro.coinbase.com rather than the standard site with its [[Q1]] interface, purchases and transfers come out free (or) less expensive.

That said, my own habit is to simply pick up USDC, and I'm able to trade $1000 right away off Coinbase without any problem or charges.
 
Schism said:

Link your checking account through ACH and verify it with Plaid. If you go through pro.coinbase.com rather than the standard site with its [[Q1]] interface, purchases and transfers come out free (or) less expensive.

That said, my own habit is to simply pick up USDC, and I'm able to trade $1000 right away off Coinbase without any problem or charges.
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For plenty of people in this space, trading isn’t the point—moving funds is.

I went through a Plaid deposit verification, and that mostly eliminated the wait time on transfers.
 
I went ahead and linked my bank for ACH. Even so, my crypto is locked up for 7 days. I only sent two small test amounts. The other day I did $20, and that one cleared with my debit card. Then yesterday I did $100 through Bank ACH, and that one is stuck on hold for 7 days.

The caps are pretty low too. Debit card is $320, Bank ACH is $1000..

USDT is the only thing I buy
 
woundcarping said:

Schism said:

Link your checking account through ACH and verify it with Plaid. If you go through pro.coinbase.com rather than the standard site with its [[Q1]] interface, purchases and transfers come out free (or) less expensive.

That said, my own habit is to simply pick up USDC, and I'm able to trade $1000 right away off Coinbase without any problem or charges.
Click to expand...

For plenty of people in this space, trading isn’t the point—moving funds is.

I went through a Plaid deposit verification, and that mostly eliminated the wait time on transfers.
Click to expand...
I went through the Plaid process too
 
My ACH cap sits at $25k, yet the debit card tied to that same account only allows $200. 🤷‍♂️

If time were tight, I’d simply wire the funds.
 
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