crypto for idiots (aka me) lol

[joseblo]

To add to this, doing that and then using Jupiter to flip that pyusd to usdc or usdt on sol is the basis of the guide peptideusername wrote and posted in this section (not tagging him cause I don't want to summon him every time I credit him, which I always do cause he's the reason I can use crypto.)

(this has probably been mentioned multiple times on this thread already, but once a thread becomes a megathread like this one, all bets for reading through it are off)

Indeed! And if you need to convert your coins to a different chain like USDC between /sol and /eth then you need a bridge. The largest of those with Web3 connection in Exodus is Wormhole (but it doesn’t work for Tron yet). If you do use wormhole, make sure you have some of the chain coin available (like ETH or SOL) for “gas” fees! Still, it will also save you a couple % in fees over using the conversion promoted by Exodus.

 

[randompersonrandom]

Is the benefit to doing this in Jupiter to save on fees?

I think so, but I'm not savvy enough to say for sure. It was in the guide to buy ten bucks of sol for gas, then buy pyusd in Paypal, send to wallet, flip to usdc or usdt with Jupiter (in exodus), and then you have your crypto to send to a vendor and it only costs either a couple of cents or a couple fractions of a cent; I've never paid attention to which.

 

[randompersonrandom]

Indeed! And if you need to convert your coins to a different chain like USDC between /sol and /eth then you need a bridge. The largest of those with Web3 connection in Exodus is Wormhole (but it doesn’t work for Tron yet). If you do use wormhole, make sure you have some of the chain coin available (like ETH or SOL) for “gas” fees! Still, it will also save you a couple % in fees over using the conversion promoted by Exodus.

I've never tried that yet; my second-favorite vendor takes stuff on tron and something else (they stopped taking PayPal, which is what I used before), but my favorite vendor takes anything on sol so I just shrugged and stayed lazy for now.

 

[joseblo]

Is the benefit to doing this in Jupiter to save on fees?

Yes, Jupiter is on /sol and you will likely be charged $0.01 or so to transfer a few $hundred. Note that there is a cost slider to adjust how quickly you need it transacted, but I've never seen it take more than a few seconds.

If you convert on Exodus directly you're probably at a 2-5%. Like $20 for a $600 exchange. If you're using Moon pay and already have several % fees that just sucks. If you come in through Coinbase or PayPal then it's almost free.

Also, just a reminder. Don't leave more than you can lose in your custodial "hot" wallet for any longer than you need to (a few days?). People get hacked all the time, and you'll see them sad post on r/Exodus.