randompersonrandom
GLP-1 Specialist
You can buy PYUSD in Venmo and then do all the rest of the steps of PYUSD to something on SOL.
First crypto transfer NUKED
- Thread starter Blvr7
- Start date
You got it.
Venmo > $ > Ethereum > Exodus > Leave a little Eth, Exchange majority to USDC > Vendor
Blvr7
GLP-1 Novice
🚫No Source Discussion🚫
Thank you. Purchased eth. But now can’t transfer it to exodus. Assuming it’s just a hold. Praying it doesn’t fluctuate much and I have enough to cover the fees (ie: it doesn’t make me keep $25 out to fund fees) and I can cobble this and the $10 of pyusd together to send to vendor. I appreciate the advice. This has been harrowing.
Why shouldn't someone use Exodus to buy and send crypto payment? Why the need for an intermediary like Coinbase?
You need some type of "onramp".
Venmo- Had money in my Venmo account so I wanted to give their crypto buying a go. (Won't use again because of fees).
Coinbase - I've had an account for years already linked to my bank and kyc'd and lowest fees of my current options.
Buying through Exodus is actually buying through Moonpay (as I understand it) which is an extra step since I already have the above but for someone setting things up for the first time I guess the only down side is the fees.
I just used ETH as an example. Sorry for not clarifying that.
My recommendation would be start with the vendor, by that I mean look at what the vendor takes then work your way back so that you have to do as few swaps as possible. Because each time you swap costs you money.
Most vendors accept BTC,USDT(both erc20 and trc20),USDC.
So I know that I can get USDC for nothing (zero fees) on Coinbase, in addition I can earn some amount of interest on my USDC on Coinbase. So if using Coinbase I would be using USDC. Any gas can be exchanged on my Exodus wallet as needed with USDC.
Venmo has issues , you can only get PYUSD for stablecoins not USDC or USDT. You can't get USDT on Coinbase. Not sure about other onramps , those are the only 2 I've used so far. Kraken has less restrictions than either of the previous two.
HereKittyKitty
GLP-1 Enthusiast
Welcome to grey.
Blvr7
GLP-1 Novice
🚫No Source Discussion🚫
Welp. My eth has gone down 18% since purchasing it, waiting for Venmo to release it to transfer to exodus. Really hoping it come back up to what I bought so I can hopefully have enough to cover the purchase.
Hmm that sucks , I think that the play in the future will be PYUSD > Exodus >Swap PYUSD - USDC > Pay vendor. I'm going to try that out and see how that goes.
I just had a pain in the butt time converting PYUSD into USDT. But I believe that PYUSD to USDC is easy.
This avoids crypto fluctuations since you stay in stablecoins the whole time (though will probably need a little Eth for gas).
Blvr7
GLP-1 Novice
🚫No Source Discussion🚫
Welp. My eth has gone down 18% since purchasing it, waiting for Venmo to release it to transfer to exodus. Really hoping it come back up to what I bought so I can hopefully have enough to cover the purchase.
Blvr7
GLP-1 Novice
🚫No Source Discussion🚫
I’m not even to the swapping part yet and I’m so over it. Is it possible the eth will recover to what I need or should I bail it out and try to swap it now?
Estarossa19
GLP-1 Enthusiast
I stick with vendors that accept stablecoins to avoid this. USDC-SOL is accepted by most.
HereKittyKitty
GLP-1 Enthusiast
If a vendor only accepts crypto I don't want to use, I don't buy from them.
Not_Your_Dad
GLP-1 Enthusiast
My Venmo experience was really easy. I had cash in Venmo that had been sitting for a while. I bought PYUSD hoping to hedge against fluctuations in ETH. My end target was USDC-Erc20. I bought the PYUSD ($380 worth I think). Within 2 minutes Venmo released to me, and then I immediately sent to my Edge wallet - that took maybe 5 minutes for it to arrive there.
I swapped the PYUSD for USDC-Erc20 right on Edge, and that was the most annoying part, since it cost me $20ish in fees.
The transaction itself was easy. I really don't like the KYC you have to do to use crypto on Venmo, and the ID scan and selfie to send it, but, wtf can we do?
Next time I'll just buy ETH I think and see if that's any cheaper to exchange for USDC. Or maybe the vendor will just accept ETH.
I get the impression (I don't think that's an official policy or anything but it just -feels- like it) that it's important to have "settled" funds in your Venmo when buying crypto, whether they say it or not.
I swapped the PYUSD for USDC-Erc20 right on Edge, and that was the most annoying part, since it cost me $20ish in fees.
The transaction itself was easy. I really don't like the KYC you have to do to use crypto on Venmo, and the ID scan and selfie to send it, but, wtf can we do?
Next time I'll just buy ETH I think and see if that's any cheaper to exchange for USDC. Or maybe the vendor will just accept ETH.
I get the impression (I don't think that's an official policy or anything but it just -feels- like it) that it's important to have "settled" funds in your Venmo when buying crypto, whether they say it or not.
Bioexplorer
GLP-1 Apprentice
Seriously. I don't understand the reluctance to link your bank to Coinbase. This isn't something shady.
MikerJecksun
GLP-1 Novice
🚫No Source Discussion🚫
I would recommend Robinhood. Convert dollars to USDC for no fees, then transfer to exodus for purchases.
Blvr7
GLP-1 Novice
🚫No Source Discussion🚫
I had to do this. As Venmo wouldn’t release my eth and the debit card purchase kept getting declined. How long do they hold funds before letting me transfer out to exodus?
Bioexplorer
GLP-1 Apprentice
I believe it's 3 to 5 days. Plan ahead for any purchases. The Coinbase - Exodus - Vendor transfers are a very smooth and easy process once you go through it. I was so concerned the first time, that I wanted to do a small $10 transfer to the vendor as a test before moving the balance. Vendor basically said "No. Trust the process. No worries."🙂 They were correct.
HereKittyKitty
GLP-1 Enthusiast
Depends on where the funds originate. Bank transfer is 7 days. Credit card/PP is 3, I think.
Blvr7
GLP-1 Novice
🚫No Source Discussion🚫
The debit cart wouldn’t go through repeatedly. Had to attach a bank.
Commander
Recently Joined
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Isn’t Erc20 USDT?
Can be, also on tron's network as well. But the U.S. is pretty anti Tron so Venmo/Paypal doesn't play well with it. Coinbase is in bed with Circle so they don't even support getting USDT or Tron on their platform.
Now that I've helped some other people, fumbled around on my own , my current reccomendations for people using Venmo/Paypal is PYUSD and if on Coinbase USDCeth (no swaps needed)
Commander
Recently Joined
🚫No Source Discussion🚫
I have to pay my vendor with USDT TRC20 or ERC20. On Exodus it wouldn’t allow me to link my bank account (through Moonpay) only my debit card. But them when I went to pay for it, it wouldn’t let me lay with the debit cart amd I had to pay through Venmo, and those fees were super high.
Tried to buy on coinbase and send to Exodus, but that gave me problems too. And every time you “swap” from one crypto to another you get hit with fees. So basically to get $1500 in the right crypto it cost me $200.. there has got to be a better way
Not_Your_Dad
GLP-1 Enthusiast
WYSiWYG
GLP-1 Apprentice
this is my path - if you are worried about BTC - most take stable coins - such as USDT, or USDC - but you will still need 'gas' for their specific networks - which is usually not much - so having a little there isn't as painful with regard to volatility
Collo4sho
GLP-1 Apprentice
I bought tether on coinbase through PayPal. They put a 7 day hold on my funds. Going to transfer to exodus and purchase from there. Hopefully all goes well and I don't fat finger the transaction and lose my dough.
oldrunnerguy
GLP-1 Apprentice
I bought BTC via Coinbase and, after all the required initial waiting, transferred it to my Exodus wallet. I just completed my first crypto purchase without a hitch. (Actually it was stress-free with the LLM holding my hand the whole way). Don't be afraid, it's actually pretty easy.
I can't get coinbase to transfer USDT on Sol. Do you mind sharing how you did that? Trying coinbase because Paypal keeps saying they can't verify it is me and won't let me transfer my owned PYUSD to my exodus wallet now. I hate Paypal and that they can deny a transfer to my exodus wallet even while I am logged in and aswered every security question they had about my identity.
