GtownBrown
Member
Is there a resource posted somewhere that explains how to start with bitcoin to make vendor purchases? I just saw some lady in one of my groups lose $400 trying to use PayPal as her wallet to pay SRY and had all her funds seized.
Crypto for dummies?
- Thread starter GtownBrown
- Start date
stickfigure
Registered
Create a wallet through MetaMask or Trust Wallet.
Fund it from an exchange or on-ramp (send money to the address of your wallet). Use stablecoins if vendor supports it, like USDT or USDC (coins tied to US dollar).
Pay the vendor from the wallet by transferring stablecoins.
Pay attention to the network and address.
Some networks have high transaction fees.
Arbitrum and Tron are examples of low fee networks - make sure your vendor has a wallet on the network you intend to use, so you don't send your money to the void. Confirm with the vendor if not sure.
Funding a wallet in time for promotion may be challenging due to holds. One way to avoid it is using an on-ramp which supports PayPal. You add balance to your PayPal account and then buy tokens or coins with through an on-ramp with that balance.
Credit cards are usually a no-go
Another way is asking around if anyone you know wants to trade their coins for cash - they can transfer it right into your wallet - that is a lot cheaper than going with an on-ramp. They may be willing to eat the transfer fees.
Fund it from an exchange or on-ramp (send money to the address of your wallet). Use stablecoins if vendor supports it, like USDT or USDC (coins tied to US dollar).
Pay the vendor from the wallet by transferring stablecoins.
Pay attention to the network and address.
Some networks have high transaction fees.
Arbitrum and Tron are examples of low fee networks - make sure your vendor has a wallet on the network you intend to use, so you don't send your money to the void. Confirm with the vendor if not sure.
Funding a wallet in time for promotion may be challenging due to holds. One way to avoid it is using an on-ramp which supports PayPal. You add balance to your PayPal account and then buy tokens or coins with through an on-ramp with that balance.
Credit cards are usually a no-go
Another way is asking around if anyone you know wants to trade their coins for cash - they can transfer it right into your wallet - that is a lot cheaper than going with an on-ramp. They may be willing to eat the transfer fees.
Lots of people like Exodus wallet, and it looked like you could fund it with Paypal. Although I haven't explored it to see exactly what you can do.
I just use an exchange account to send and receive to vendors. It's terrible from a privacy/security standpoint as men in black will easily be able to link me to the transaction.
It would be much better to use Exodus, Metamask, or another wallet.
Just be sure you write down your 12 words, so when you pancake your phone you don't loose your crypto too.
I just use an exchange account to send and receive to vendors. It's terrible from a privacy/security standpoint as men in black will easily be able to link me to the transaction.
It would be much better to use Exodus, Metamask, or another wallet.
Just be sure you write down your 12 words, so when you pancake your phone you don't loose your crypto too.
stickfigure
Registered
Unless you use a mixer it is always possible for the government to track your funds - it's the nature of blockchain. But using a mixer is considered money laundering, which is worse than ordering unapproved medication without prescription, so most just accept that the government can see everything and they don't care much about peptides.
peptideusername
Registered
@brentm Sending from the exchange is the easiest way to lose your account. It's like a speed run. The fact that you haven't been shut down yet is probably just good luck.
I have created a guide on how to buy USDT on Solana, using Exodus wallet and PayPal, for next to no fees. It's a step by step guide with pictures and lots and lots of people have used it and saved themselves a whole lot of money while keeping it as safe as possible with a self-custodial wallet.
I can't upload it here because the PDF is too large, so if you see this and want to take a look, message me on Discord. Otherwise, it's posted on Peppys in the crypto section.
I have created a guide on how to buy USDT on Solana, using Exodus wallet and PayPal, for next to no fees. It's a step by step guide with pictures and lots and lots of people have used it and saved themselves a whole lot of money while keeping it as safe as possible with a self-custodial wallet.
I can't upload it here because the PDF is too large, so if you see this and want to take a look, message me on Discord. Otherwise, it's posted on Peppys in the crypto section.
SmokeySquid
Registered
Just wanted to let you know that I appreciate that guide as it has helped quite a bit recently.
GtownBrown
Member
I can’t find you on discord, and I don’t know what Peppy’s is.
rickyricardo
Registered
I use mostly two different methods for acquiring crypto while limiting the amount of fees.
Here is one I can share:
1. Purchase LTC in your preferred KYC Exchange like Coinbase.
- If time permits use a bank transfer (ACH) to purchase as this will cost less in fees
- Using a debit card will give you access to withdraw quicker but will cost you more in fees
2. Create an LTC wallet (I prefer Cake Wallet)
3. Withdraw your LTC from KYC exchange to LTC Wallet
4. Create an XMR wallet (I also prefer Cake Wallet)
5. Swap your LTC for XMR using a swapping service like Trocador
- Make sure your XMR is deposited into the newly created XMR wallet
6. Create an BTC wallet (I also prefer Cake Wallet)
7. Swap your XMR for BTC using a swapping service like Trocador
- Make sure your BTC is deposited into the newly created BTC wallet
8. Use acquired BTC to pay vendor
*Advantages of this method*
- Low fee cost considering benefits
- Effectively anonymous (for most)
*Disadvantages of this method*
- Prone to error
- High time investment
This is just one method but if you do some research you'll discover a method that works for you. Using cryptocurrencies has a high learning curve for many but if you practice with small amounts and dedicate some time to research you'll see that it is a very powerful tool.
Here is one I can share:
1. Purchase LTC in your preferred KYC Exchange like Coinbase.
- If time permits use a bank transfer (ACH) to purchase as this will cost less in fees
- Using a debit card will give you access to withdraw quicker but will cost you more in fees
2. Create an LTC wallet (I prefer Cake Wallet)
3. Withdraw your LTC from KYC exchange to LTC Wallet
4. Create an XMR wallet (I also prefer Cake Wallet)
5. Swap your LTC for XMR using a swapping service like Trocador
- Make sure your XMR is deposited into the newly created XMR wallet
6. Create an BTC wallet (I also prefer Cake Wallet)
7. Swap your XMR for BTC using a swapping service like Trocador
- Make sure your BTC is deposited into the newly created BTC wallet
8. Use acquired BTC to pay vendor
*Advantages of this method*
- Low fee cost considering benefits
- Effectively anonymous (for most)
*Disadvantages of this method*
- Prone to error
- High time investment
This is just one method but if you do some research you'll discover a method that works for you. Using cryptocurrencies has a high learning curve for many but if you practice with small amounts and dedicate some time to research you'll see that it is a very powerful tool.
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My problem is I don't trust third party wallets. From Trezor, Ledger, Electrum, etc. There's a history of using weak entropy to generate random seeds and I've seen 3rd party wallet drains happen in the past. Heck, I've seen most everything imaginable at this point. If I were to choose any of them it'd probably be Trezor. I mined with Slush back in the day when he used to run his pool. I was there when he was hacked and his hot wallet drained, which was suspected to be OVH staff. He handled it very admirably.
That's good advice though discouraging the use of exchange wallets. I'll start using Exodus with amounts of money I'm willing to lose.
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GimmeABreak
Rabbit-hole Explorer
I second the "thumbs up" on this guide. I was a crypto luddite and using this guide I now have an exodus wallet funded with USDT for my next pep purchase. @peptideusername thank you, thank you, thank you!
I would avoid buying Bitcoin if your only goal is to purchase peps. It is incredibly volatile and if you are not ready to pull the trigger on a purchase you could find your $1000 is now $850 or $1200, you just never know.
The nice thing about using Paypal as an onramp (service to convert USD to crypto) is that you can take cash to any CVS, Walgreens, Walmart, Kroger etc and deposit right into your Paypal account. No need to involve your bank at all.
Which discord server? Are you able to share it here?
I’ll have to wait until I’m allowed in the crypto section, but that guide sounds amazing. How cool
Of you for doing that!
Grannuaile
New_Member
OK. I will step into this boys locker room of a forum and admit that I set up my own Coinbase Wallet. How foolish am I for having linked it to my family monthly operating checking account — ? I mean, I’m counting on it being safe from the Coinbase people taking all my money. Right? (She asked VERY tentatively.)
GimmeABreak
Rabbit-hole Explorer
Probably safe, but you will also need a self-custodial wallet like Exodus. You can buy crypto in coinbase and then transfer it to your wallet. Most vendors will not accept payment from Coinbase as it puts you, and them, at risk of having the funds frozen. This will also insulate your bank accounts from your pep activity. I found just buying papal USDT (pyUSDT) and immediately transferring to Exodus to be the easiest. From there you can convert to other forms of USDT (or Bitcoin or whatver).
I made my first purchase last night and had to deal with moving my USDT crypto from the SOL network to the Ethereum network as this network is what the vendor required. I now have a little bit of money left on the TRON, SOL and ETH networks. I'm learning.....
Grannuaile
New_Member
Yes, I had that experience of leaving little pots of gold hither and yon. I left ~$100 in Coinbase and yesterday it was at $160 — so I am no longer annoyed at not being able to work with these accounts. To be honest - I am a very impatient person - and rather than fiddling with the accounts (STILL sympathetic to the poor soul who ate $130 in lost value using crypto), I just bought womens shirts a la Amo and was done with it.
I am not able - nor interested - in attempting to insulate my accounts from pep activities; I buy my GHK-Cu from Alibaba (topical upon recommendation from a real expert) and from Skye (lyophilized). I am not worried about anyone coming after me for these kinds of things. After all, look at the woman selling (was it retail AND wholesale) distributing in Tennessee: she had two commercial places of business, was selling out of state, and having people coming to her HOUSE to pick up GLP1s. That is a huge amount of activity compared to my little bits of purchase-only activity. I am dying of curiosity to learn how long she was in “business.”
I am not able - nor interested - in attempting to insulate my accounts from pep activities; I buy my GHK-Cu from Alibaba (topical upon recommendation from a real expert) and from Skye (lyophilized). I am not worried about anyone coming after me for these kinds of things. After all, look at the woman selling (was it retail AND wholesale) distributing in Tennessee: she had two commercial places of business, was selling out of state, and having people coming to her HOUSE to pick up GLP1s. That is a huge amount of activity compared to my little bits of purchase-only activity. I am dying of curiosity to learn how long she was in “business.”
lauranyc77
New_Member
Why not just buy BTC from Coinbase?
Also, if you make a payment to someone like Cain/Nexaph straight from your Coinbase account and dont use a custodial wallet why is that a risk of getting shutdown ?
Super Trips
Member
I would not use coinbase even if you tumble coins or swap out to other cryptos I was one of a very rare few that never got money laundering from crypto under federal case. Beating them in that was the only thing that made me chuckle in court. If you want to be totally clear pay cash for coin then transfer to a wallet with a btc paid vpn on a device that has never been hooked up but on a public wifi. No apps or anything downloaded on it like a clean computer or tablet
Oh, you can do that with Nexaph? I thought it was through coinbase wallet. Can I ask you (or anyone) what the steps were to purchase using crypto with Nexaph?
Super Trips
Member
if its for a nexaph buy just use whatever platform you want they ship within the US and they take CC
rickyricardo
Registered
1. BTC has higher network fees than a coin like LTC so by starting with LTC you save some money in network fees.
2. Centralized exchanges, like Coinbase, partly manage their risk by tracking transactions on the blockchain, which are all mostly public on BTC. Sending BTC directly from the Coinbase wallet to Cain makes it so you have linked your identity, since they do KYC, to Cain's BTC wallet address. In centralized exchanges a lot of these CN vendors including vendors like Nexaph (even though I know they arent really CN) are blacklisted or considered high risk because of any number of reasons but mostly it's due to sactions, illegal activites, ect.. Being linked to any of these addresses will undoubtly raise the risk profile of your Coinbase account and potentially lead to closure. One way to decrease the likelyhood that your Coinbase account will be closed or deemed high risk is by sending the funds first to a non-custodial intermediary wallet such as Exodus or Cake Wallet before sending it to Cain. This will distance you from a blacklisted or high risk wallet but will not completely anonymize the transaction. For the purposes of most people, distancing alone should keep your Coinbase account in good standing.
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