Just wanted to give my recent experience , hopefully it will help someone out there.
To preface I have a coinbase pro account. I wanted to use my venmo mainly because I had some balance laying around so I figured I would use it. I'm also a complete novice in this space so take that on board as well.
How I expected the process to go;
1. Convert Venmo balance to PYUSD (paypal stablecoin ETH network).
2. Transfer to Exodus.
3. Swap to USDTtrc20(Tron Network).
So step 1 was fine. Step 2 , easy, QR codes make the address stuff easy. Step 3 is where I ran into problems. Exodus couldn't swap PYUSD to USDTtron. I'm sure that's obvious to some but it wasn't to me. So from just noodling with google and the interface I had to run another intermediate swap. PYUSD > USDTetherum then USDTetherum> USDTtron. Next problem it wouldn't auto convert my PYUSD into Eth for "fees". So back to Venmo to buy a little bit of Etherum. Transfer that to Exodus. Then convert everything. Here is how it ended up going.
1. Convert Venmo balance to PYUSD (paypal stablecoin ETH network).
2. Transfer to Exodus.
3. Convert Venmo balance to Etherum (small amount)
4. Transfer to Exodus.
5. In Exodus, Swap PYUSDeth > USDTeth (burn a little Eth for fees)
6. Swap USDTeth > USDTtron
7. Swap a little Eth > Tron
8. Freeze a little Tron for transaction use bandwidth/energy.
Now my USDTtron should be ready to go. Overall I wasted about $20 on swaps that were inefficient and unnecessary. Cheap lesson learned.
In the future I will simply skip a bunch of these steps and buy Tron directly on Coinbase then send to my Exodus Wallet. My thoughts for doing it the way I did was to avoid current market volatility by sticking with stablecoins. In the future if I decide to use my Venmo balance again I will most likely just buy BTC and send that . The volatility won't really matter compared to the fees generated by unnecessary swaps.
To preface I have a coinbase pro account. I wanted to use my venmo mainly because I had some balance laying around so I figured I would use it. I'm also a complete novice in this space so take that on board as well.
How I expected the process to go;
1. Convert Venmo balance to PYUSD (paypal stablecoin ETH network).
2. Transfer to Exodus.
3. Swap to USDTtrc20(Tron Network).
So step 1 was fine. Step 2 , easy, QR codes make the address stuff easy. Step 3 is where I ran into problems. Exodus couldn't swap PYUSD to USDTtron. I'm sure that's obvious to some but it wasn't to me. So from just noodling with google and the interface I had to run another intermediate swap. PYUSD > USDTetherum then USDTetherum> USDTtron. Next problem it wouldn't auto convert my PYUSD into Eth for "fees". So back to Venmo to buy a little bit of Etherum. Transfer that to Exodus. Then convert everything. Here is how it ended up going.
1. Convert Venmo balance to PYUSD (paypal stablecoin ETH network).
2. Transfer to Exodus.
3. Convert Venmo balance to Etherum (small amount)
4. Transfer to Exodus.
5. In Exodus, Swap PYUSDeth > USDTeth (burn a little Eth for fees)
6. Swap USDTeth > USDTtron
7. Swap a little Eth > Tron
8. Freeze a little Tron for transaction use bandwidth/energy.
Now my USDTtron should be ready to go. Overall I wasted about $20 on swaps that were inefficient and unnecessary. Cheap lesson learned.
In the future I will simply skip a bunch of these steps and buy Tron directly on Coinbase then send to my Exodus Wallet. My thoughts for doing it the way I did was to avoid current market volatility by sticking with stablecoins. In the future if I decide to use my Venmo balance again I will most likely just buy BTC and send that . The volatility won't really matter compared to the fees generated by unnecessary swaps.
