Help! Is this normal for Crypto?

Ghostrider

Ghostrider

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So sending $720 ended up costing me $80, bringing the total to $800.

I used Kracken to buy Monero (XRP), and that ran me $35 in fees since I had to link my debit card to get an immediate withdrawal. After that, there are more fees to move the XRP over to Cake wallet, plus whatever the rest costs to swap XRP into BTC.

The point of doing it this way is to use a secure (encrypted) coin so the transaction isn't traceable back to me through someone who could shut down my accounts if it comes out that I'm paying China for peptides.

Is there a cheaper option out there that would still keep me protected? Or is this just how it is? #newtocrypto
 
Ghostrider said:

So sending $720 ended up costing me $80, bringing the total to $800.

I used Kracken to buy Monero (XRP), and that ran me $35 in fees since I had to link my debit card to get an immediate withdrawal. After that, there are more fees to move the XRP over to Cake wallet, plus whatever the rest costs to swap XRP into BTC.

The point of doing it this way is to use a secure (encrypted) coin so the transaction isn't traceable back to me through someone who could shut down my accounts if it comes out that I'm paying China for peptides.

Is there a cheaper option out there that would still keep me protected? Or is this just how it is? #newtocrypto
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Looks like you went straight into DarkWeb territory!

The majority of us simply rely on a custodial wallet, then move a stablecoin that's inexpensive to send and swap — USDC, USDT or PYUSD — over Sol or ERC20. Usually that runs just a few cents.

We're frugal, and the only cover we get is being lost among the huge volume of crypto transfers, plus the fact that KYC providers want deniability and would rather not track where funds end up. Whether Kraken transactions are truly obscure, I can't say, but picking up Monero/ARRR/Zcash could draw attention from the wrong crowd.
 
Ghostrider said:

So sending $720 ended up costing me $80, bringing the total to $800.

I used Kracken to buy Monero (XRP), and that ran me $35 in fees since I had to link my debit card to get an immediate withdrawal. After that, there are more fees to move the XRP over to Cake wallet, plus whatever the rest costs to swap XRP into BTC.

The point of doing it this way is to use a secure (encrypted) coin so the transaction isn't traceable back to me through someone who could shut down my accounts if it comes out that I'm paying China for peptides.

Is there a cheaper option out there that would still keep me protected? Or is this just how it is? #newtocrypto
Click to expand...
Wow, that's a lot of money lost to fees...you should try asking an AI for a cheaper route to move money straight from your bank into cake, then use simpleswap or a similar service to trade funds between wallets...paying with usdc on sol is probably the least expensive option....though I'm still a beginner at this, so don't take my word for it....

Here in Canada I use paytrie...it pulls the money right out of my bank account and puts it into my exodus wallet....around 1k costs about 5 bucks. Look for an equivalent app where you live in the USA. Best of luck....learn from it once..try not to repeat that error too often...
 
Just purchase BTC, or any coin really (these days I mostly go with USDC), through an exchange, then move it into a wallet you control before you actually pay. That's enough to stop anyone from shutting down your accoint. Paying straight from an exchange to a vendor might get you flagged, but once the funds land in your wallet, nobody is tracking where the money goes next. All that extra cost isn't necessary.

Going BTC from Kracken -> Cake -> Vendor does the job.
 
Those fees are way more than anything I've ever been charged. I let my funding account take a few days to connect with my crypto account. It's a lot more affordable if you're able to purchase a stable coin on the Solana network first, then move it over to your external wallet. My go-to is USDC sol, though some vendors won't accept it.
 
In Canada, I went from Wealthsimple over to Exodus. All in, the fees came to roughly $20 CDN, and that covered picking up the $520USDC I needed for my first gb.
 
Ghostrider said:

So sending $720 ended up costing me $80, bringing the total to $800.

I used Kracken to buy Monero (XRP), and that ran me $35 in fees since I had to link my debit card to get an immediate withdrawal. After that, there are more fees to move the XRP over to Cake wallet, plus whatever the rest costs to swap XRP into BTC.

The point of doing it this way is to use a secure (encrypted) coin so the transaction isn't traceable back to me through someone who could shut down my accounts if it comes out that I'm paying China for peptides.

Is there a cheaper option out there that would still keep me protected? Or is this just how it is? #newtocrypto
Click to expand...





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Wow, you really dove deep into that Rabbit hole! Normally the routine is: purchase Crypto in one place, move it over to a wallet you control, and you're set... I've got to tip my hat to you, sir! 🫡🫡
 
Spending that much effort and cash just to conceal your electronic trail doesn't make sense when the product still has to be shipped to your physical address.....
 
There's a stickied thread in this forum's Crypto Corner describing a really inexpensive method for safe crypto use.

Some of it may need a refresh:

a. Through ACH bank linking/transfer, Coinbase Advanced Mode permits USDC on-ramping at no cost

b. When it comes to newer Exodus accounts, the ultra-cheap Jupiter Web3 swapping that involves the Exodus Wallet is now limited to the Exodus app for Windows, paired with the Exodus Web3 extension for Chrome browser, and by going to Jupiter's site jup.ag

As always, only send crypto to vendor from a self-custodial wallet
 
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