bamagirl26 said:
I'm also just starting out, so I'll attempt to break this down in simple terms and hope someone jumps in if I get something wrong. I already had a Coinbase account simply because I'd been curious about how simple buying bitcoin was some time ago. Opening the account was really straightforward, and I connected it to PayPal so I could get money INTO the account, after which purchasing Bitcoin was a breeze.
From what I'm piecing together for this whole process:
step 1) set up an account that supports crypto (Coinbase, Kraken)
step 2) Move funds into that account from your bank or PayPal
Step 3) Purchase a stable coin within it (USDT, USDC)
Step 4) Purchase "gas" which I'm assuming handles the transaction fees, so roughly 15 bucks of ETH and 15 of Sol, since those appear to be the "gas" that most of these transactions need in order to send
Step 5) Set up a Phantom or Exodus account (this serves as the middleman where you'll shift the money to, so your transaction stays clear of legal issues?)
Step 6) move the money from your selected Crypto account over to your selected Middleman account
( Personal experience)
I opened Exodus and didn't even have to make an account, it just created a wallet on its own
- hit receive USDC (and there was a dropdown for Sol- which my merchant prefers), that gave me a copyable link.
- went over to Coinbase, clicked pay and then pasted that. Now I've got TWO DOLLARS sitting in a wallet and will hopefully send that to the vendor once I receive some kind of payment code
Step 7) Pay the Vendor, and a lot of people suggest sending a very small amount first just to confirm you've got the transaction right.