Crypto for dummies?

[GtownBrown]

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.

 

[stickfigure]

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.

 

[brentm]

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.

 

[stickfigure]

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.