Crypto has me totally confused. Up to now I've been sending usdt through a telegram wallet without problems, but the vendor I always used no longer ships to Canada, and it looks like almost no one else takes the telegram wallet. So I opened a coinbase account, deposited money into it, and ended up with bitcoin — but from this point I have no idea how to actually make purchases. I've read warnings against sending straight from that account, yet I don't get how to move the funds elsewhere or what steps to take. On top of that, every single transaction seems to come with fees, which is driving me nuts. I'm located in Canada, in case that changes what advice applies. Thanks in advance to anyone who can point me toward what to do next.
Feeling lost with crypto — could use some guidance
- Thread starter ambot88
- Start date
laansasa
Explorer
USDT and USDC are both available for purchase on Coinbase, and from there you can move them over to your Exodus wallet (grab it from the App Store or Google Play). Vendors can be paid through Exodus.
Should you already hold bitcoin, Exodus lets you convert it into USDT or USDC.
I get the struggle — I spent ages on my first transaction just making sure I hadn't messed it up.
Should you already hold bitcoin, Exodus lets you convert it into USDT or USDC.
I get the struggle — I spent ages on my first transaction just making sure I hadn't messed it up.
so I've got the exodus wallet ready, and I moved $15 worth of bitcoin to myself, but only 10,99 showed up — that fee looks pretty steep to me. does it cost that much because I'm using Bitcoin? would it be smarter to switch it to USDT while it's still in coinbase and then move that over to exodus? I've genuinely gone through something like 30 threads on this. it's confusing and I'm old.
BrandedBateman
Explorer
I went with kraken for my initial purchase of USDC, then transferred it directly to the supplier. Honestly, the whole process was simple, and it was my first attempt too.
If Coinbase is already your platform, go with USDC rather than BTC (it stays stable). Being an ETH-based stablecoin, it can simply remain there until you're set to make a transaction.
Set up an Exodus wallet.
Once you're set to make a transaction; move the USDC you need into your Exodus wallet. After that, send the USDC from Exodus over to the vendor. A small amount of Ethereum may be required for gas fees.
Sidenote- USDT isn't natively supported by Coinbase, so if the basics are giving you trouble, steer clear of USDT.
Set up an Exodus wallet.
Once you're set to make a transaction; move the USDC you need into your Exodus wallet. After that, send the USDC from Exodus over to the vendor. A small amount of Ethereum may be required for gas fees.
Sidenote- USDT isn't natively supported by Coinbase, so if the basics are giving you trouble, steer clear of USDT.
I'm Canadian too. In my experience Coinbase is a pain to deal with. Most of the time I go with shakepay instead. It's really straightforward. When a purchase comes up, you deposit funds, purchase BTC, and transfer it. Sending the BTC costs nothing. Everything goes through and gets confirmed within 10minutes.
That's why I rarely bother with an external wallet for this kind of thing. The interface is very user-friendly as well. BTC and ETH are the only options available, so simply buy on the spot each time you need to pay for something.
Hope this helps.
That's why I rarely bother with an external wallet for this kind of thing. The interface is very user-friendly as well. BTC and ETH are the only options available, so simply buy on the spot each time you need to pay for something.
Hope this helps.
pauper8925
Explorer
Why bother routing through an Exodus wallet before sending, rather than just sending straight out of Coinbase?
For a long while, nerves and second thoughts kept me from diving into crypto. Eventually I settled on Kraken plus its wallet. I played around with ETH, USDC, and Solana, then converted the whole lot to BTC—and since then it has worked without a hitch 
These days I simply top up euros on the exchange, and when a payment comes up, I purchase BTC right there, move it into my Kraken wallet, and settle from that wallet. Sure, I may be out a few bucks now and then, but to me the ease of it more than makes up for that.
These days I simply top up euros on the exchange, and when a payment comes up, I purchase BTC right there, move it into my Kraken wallet, and settle from that wallet. Sure, I may be out a few bucks now and then, but to me the ease of it more than makes up for that.
Calm Logic
Explorer
What bothered me about Kraken was the 7-day hold attached to every deposit; otherwise I liked it.
coach chickpea
Explorer
In Canada too, and shakepay handles nearly all my needs. If you maintain a balance above roughly $3000, the interest is decent...better than what regular banks offer