Crypto for dummies?

I got Coinbase and then exodus wallet. I used my bank card which limits me to 50$ a week, and then PayPal which is 1000 a week, but getting your money into PayPal is the problem. The bank to PayPal holds the money like 5 days. I ended up giving someone cash and they sent me a PayPal which I put on PayPal debt card and then sent to Coinbase, and then transferred out the crypto to exodus wallet.
All that to say, when trying to pay the peptide vendor he said things and used terms I didn’t understand, so I goggled whatever it was and slogged my way through to my first order. I always found an answer, but it took a couple hours, the vendor doesn’t walk you through it.

The most frustrating part was having the right money on the wrong server, then getting it to the right server but not having “coins” to move it or swap it or send it on the new server. If the eth server didn’t tell me invalid address I would have sent the money into the void. I goggled why would the eth server sending address say invalid, and resulting articles told me I was probably on the wrong server, and I was.
 
jordekorn said:
I got Coinbase and then exodus wallet. I used my bank card which limits me to 50$ a week, and then PayPal which is 1000 a week, but getting your money into PayPal is the problem. The bank to PayPal holds the money like 5 days. I ended up giving someone cash and they sent me a PayPal which I put on PayPal debt card and then sent to Coinbase, and then transferred out the crypto to exodus wallet.
All that to say, when trying to pay the peptide vendor he said things and used terms I didn’t understand, so I goggled whatever it was and slogged my way through to my first order. I always found an answer, but it took a couple hours, the vendor doesn’t walk you through it.

The most frustrating part was having the right money on the wrong server, then getting it to the right server but not having “coins” to move it or swap it or send it on the new server. If the eth server didn’t tell me invalid address I would have sent the money into the void. I goggled why would the eth server sending address say invalid, and resulting articles told me I was probably on the wrong server, and I was.
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It's a good thing you got the warning before sending! Coinbase is happy to send your crypto into oblivion using their "base" network. They've confused the issue further naming their wallet Base as well.

Once PayPal is set up ACH things become more instantaneous. (Depending on your state) You'll look back on this as a learning experience. Exodus is good about preventing incompatible transactions.
 
I’m going through my own learning curve on crypto. Check out the post pinned in this crypto forum.
 
keangkong said:
I find that some vendors require Sol for gas and others require Eth. I do keep a small amount of Sol and Eth in Exodus for the purpose of sending stuff. If caught by the IRS, I hope they go lenient on me because (1) they realize what a nightmare it is to calculate the value of cryptocurrency valuations and (2) they'd realize that I was not using crypto as means of making money and had kept the values small.

My ex-wife recently complained to me that I must have done something wrong on the taxes because she was being audited by the feds and the state. Apparently, I hadn't done anything wrong, but she ended up having to pay both based upon her conduct with her more recent tax returns. It would have never occurred to her that she may have been the person to err.
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How much of both (Sol and Eth) do you typically keep in Exodus? I'm having a hell of a time purchasing crypto - Chase it not letting me fund anything, including Paypal - so I want to buy a prepaid Visa card. I have no concept of how much gas money I will need generally.

Edit: I just rechecked STG "Crypto 101" and got my answer for Sol (~$10). Is it the same for Eth?
 
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I bought total of 4 diff prepaid Visa cards & tried to load intoPayPal. With the exception of 1 ppc, I couldn't get them to load intoPayPal. Called the Pre-paid card vendor & learned they dont allow the card to be loaded into Ppl aylal.

So I researched which pre-paid cards can be loaded into PP & went out into the world in search of one. Sure enough I was able to load the $500 into PP; however, I couldon't pay the $485 invoice from vendor. Called pre-paid card co & they said it was PP's fault $$ wasnt going thru.

So i called PP & they said it was card company not allowing the transaction to go thru. Soooooooo I called the card company again & this time they told me that they stopped allowing their cards to be uploaded into PP. I explained that the $500 from their card was already loaded into PP. Fella told me that they reversed the funds & funds are back on my card.

Not sure what's going on, if anything....it's just weird to me that PP stopped selling physical prepaid cards at stores & I was u successful in finding a prepaid Visa that I could load into PP & pay my vendor.


Let me know if you are able to load ppc into PP. I am curious if problem was because I was trying to pay for goods/services instead of loading into their crypto. Totally new to me.

Sorry for my long winded story..wish you the best
 
Iused2bCool said:
I bought total of 4 diff prepaid Visa cards & tried to load intoPayPal. With the exception of 1 ppc, I couldn't get them to load intoPayPal. Called the Pre-paid card vendor & learned they dont allow the card to be loaded into Ppl aylal.

So I researched which pre-paid cards can be loaded into PP & went out into the world in search of one. Sure enough I was able to load the $500 into PP; however, I couldon't pay the $485 invoice from vendor. Called pre-paid card co & they said it was PP's fault $$ wasnt going thru.

So i called PP & they said it was card company not allowing the transaction to go thru. Soooooooo I called the card company again & this time they told me that they stopped allowing their cards to be uploaded into PP. I explained that the $500 from their card was already loaded into PP. Fella told me that they reversed the funds & funds are back on my card.

Not sure what's going on, if anything....it's just weird to me that PP stopped selling physical prepaid cards at stores & I was u successful in finding a prepaid Visa that I could load into PP & pay my vendor.


Let me know if you are able to load ppc into PP. I am curious if problem was because I was trying to pay for goods/services instead of loading into their crypto. Totally new to me.

Sorry for my long winded story..wish you the best
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Get exodus🙂 you will be cool again🙂
 
HRH_IceQueen said:
I definitely have a lot to learn about crypto and it's giving me anxieties 😩
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It took me a year to try, I was so anxious. But the guide that's floating around the forum on how to buy through PayPal and move to exodus (never transfer from PayPal right to a vendor!) was a lot simpler than I thought it would be.
 
HRH_IceQueen said:
I definitely have a lot to learn about crypto and it's giving me anxieties 😩
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Same here.
chmuse said:
I've been buying via PayPal/Venmo and sending directly to my exodus wallet.
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I know this info is supposed to help me but I am beginning to realize I am the town idiot. I'll go in search of that PayPal instruct you said is floating around. Thanks for info....I'll take all the Hansel & Gretel crumbs I can get...I am a carbaholic after all.
 
Iused2bCool said:
How do you put $ into exodus? Thru pre-paid credit/debit card or use own CC/DC?
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The best I understand it...
PP may or may not work with pre-paid debit cards, most don't.
Bank transfer to PP can take 5-7 days to clear. Plan ahead.
Debit card to PP, funds should be available almost immediately.
Cash transfer using PP app's in store transfer is also immediate.
From there you can purchase PYUSD or Solana (maybe others, those are the 2 I've done) to transfer to your wallet.
 
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toologic said:
Do they have like any kind of training mock website where can go through the entire process w/o using real money?
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That's an awesome idea! I like your thinking, toologic. You got a good logical head on your shoulders
🙂
 
RetCurious said:
The best I understand it...
PP may or may not work with pre-paid debit cards, most don't.
Bank transfer to PP can take 5-7 days to clear. Plan ahead.
Debit card to PP, funds should be available almost immediately.
Cash transfer using PP app's in store transfer is also immediate.
From there you can purchase PYUSD or Solana (maybe others, those are the 2 I've done) to transfer to your wallet.
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Thank you RetCurious for explaining that so well! Excellent! Love pic of your beautiful kitty (baby). Soon as I can coral all of mine to sit together for a photo shoot, I'll post a pic of them. I have more than enough for a basketball team but not enough for baseball/softball team.
🙂
 
HRH_IceQueen said:
Thx for the tip! I didn't realized you can do this.
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Crypto supports fractional amounts, so it can be as small as you like. There may be limitations imposed by the exchange itself. But you will be transferring between your exchange account and your wallet - so it's not going anywhere anyways.

You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives😀.

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.

crypto.webp
 
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tcpnomad said:
Crypto supports fractional amounts, so it can be as small as you like. There may be limitations imposed by the exchange itself. But you will be transferring between your exchange account and your wallet - so it's not going anywhere anyways.

You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives😀.

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.

View attachment 26475
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Thank you for sharing your wisdom... so much to learn 🤩
 
tcpnomad said:
Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.
Click to expand...
This is functionally true, but I think it deserves a bit more explanation.

The Bitcoin blockchain is secured by the miners reaching a consensus. Every transaction is processed by the nodes/miners and validated before being sent. The transaction fee is actually a bid. The nodes/miners will obviously choose to process the ones which pay the most first. This is why fees go up when there is a lot of transaction activity, competition between the users to have their transaction permanently immortalized on the blockchain by other people who are spending electricity to handle it. This is what you're really paying for. Nothing is free.
 
Tcpnomad said...
"You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives.

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks."
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Thanks for the great idea tcpnomad , practiicing by "paying myself 1st" by using 2 wallets. That's a great idea. Ya know, my dad always told me it was important to pay yourself 1st and he also said to make sure you always have gas in the tank cause ya never know when ya might want to go get something. I never knew he was trying to teach me crypto. I always knew he was a smart fella.
 
tcpnomad said:
Crypto supports fractional amounts, so it can be as small as you like. There may be limitations imposed by the exchange itself. But you will be transferring between your exchange account and your wallet - so it's not going anywhere anyways.

You can practice transferring between the exchange and your wallet, and even between two of your own wallets (pretending that one of them is the vendor). It's quite fun, actually. Exodus makes some cools sounds when the crypto arrives😀.

Keep in mind that every transfer costs you a miniscule amount of "gas", but it is usually measured in fractions of cents. This is the fee you pay to use the crypto networks.

View attachment 26475
Click to expand...
Tcpnomad, have you ever seen something so beautiful that it took your breathe away & brought tears to your eyes when you saw it? Well...that's what the chart that you posted did to me. It's beautiful! Thank you!
 
mybodyisasewer said:
This is functionally true, but I think it deserves a bit more explanation.

The Bitcoin blockchain is secured by the miners reaching a consensus. Every transaction is processed by the nodes/miners and validated before being sent. The transaction fee is actually a bid. The nodes/miners will obviously choose to process the ones which pay the most first. This is why fees go up when there is a lot of transaction activity, competition between the users to have their transaction permanently immortalized on the blockchain by other people who are spending electricity to handle it. This is what you're really paying for. Nothing is free.
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Thank you for letting me know the Bitcoin Blockchain is a different Immortal Electric Beast & for confirming there is not such thing as a free lunch. Sounds like Bitcoin might be something I check out once I get comfortable in the other types of transactions. I really dont want to get terminated or electrocuted on my first transaction.

I REALLY appreciate you taking time to explain the difference in Bitcoins transaction fee.
 
Iused2bCool said:
Tcpnomad, have you ever seen something so beautiful that it took your breathe away & brought tears to your eyes when you saw it? Well...that's what the chart that you posted did to me. It's beautiful! Thank you!
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haha - I have to give credit to ChatGPT.
 
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