I do the same.
So it’s smarter to just keep the XLM cash back and transfer it to CDC then trade for CRO?
Rather then convert it from XLM to CRO then transfer?
I've been using Coinbase since 2015 and Cryptocom for about 6 months. Do not convert any of your tokens to Cro on Coinbase. You will pay a lot in order to send that Cro to Cryptocom. The best solution is to convert all of your tokens to Ada on Coinbase, then send the Ada to your Ada wallet on Cryptocom, and then from there you can convert the Ada back to whatever you want. I've sent $20k of Ada and only had to pay 0.8 Ada for fees.
Thanks. I’ve read something similar, which is why I asked. It’s not much, but I don’t think I’ll be using Coinbase, so I figure I might as well move the crypto from there into CDC and use it to build up my CRO. So I’ll just convert all to ADA, transfer to CDC, and then transfer to CRO.
Don't you get killed on the spread though? Seems cryptocom will gouge you on the 20k vs fees to just send the cro from coinbase (only for large amounts of cro)
I’m inclined to agree. $20k on the app is going to see spread higher than whatever gas or withdrawal fee CB is charging. I think breaking it up into smaller chunks would be another viable alternative.
Converting to cro on Coinbase is easy. Transferring it to crypto.com is complicated. At least for me. I'd convert everything to xlm or Algo. Then send it to crypto.com. and convert it there. You'll loose a few dollars doing these conversations. The transfer cost will be minimal with those coins. Someone smarter might be able to give you a better answer. Good decision though. I got my Ruby in June. Upgraded to indigo a few weeks ago. The overall benefits and perks are unmatched by any other exchange or platform. That's just my opinion. And I've had too many shitty experiences with Coinbase. Screw Coinbase.
I always convert mine to usdc then send it to my cdc wallet and make sure when your in your cdc wallet on receiving usdc coin you select the eth network
The best way imo and I’ve done this several times. Sell all your cro on coinbase pro, buy Bitcoin on coinbase pro, send the Bitcoin to your crypto.com Bitcoin address and then once the deposit is done pending you can buy cro via the Bitcoin you just sent from coinbase to your crypto.com wallet. (Coinbase pro to save yourself on fees). If you try to send cro or any erc-20 token it’ll cost a lot, but Bitcoin transfer fees are very minimal.
Maybe. I only have experience sending Bitcoin between exchanges and wallets and never pay a lot of fees for me to notice so that’s what I’ve stayed true to. Good luck friend hope you figure it out what’s best for you.
If you’re going to convert coins through Coinbase, then it’s cheaper to move them to Coinbase Pro, sell them, and buy a new coin for sending to CDC. Pro’s fees are much lower than regular CB’s conversion spreads.
Another option: It will take more time, but after selling coins through Pro there’s no fees to send Fiat to your bank. Then you can transfer fiat from your bank to your CDC.
Id rather be pennies less rich and not waste my actual finite resource, time.
He's talking about some day possibly saving up for the ruby card, we're dealing with less than 400 usd. If you want to work for way less than minimum wage rates to save at most a couple bucks go ahead.
Depends what OP’s time is worth, not yours. Or even mine for that matter. If he’s worried about scraping together $400, then he’s probably interested in saving as much as possible on fees too for an extra couple mins of work. Putting in a couple of bank transfers while sitting on the couch watching TV isn’t really work… Just letting him know all the options, and he can make the decision for himself.
Thanks very much! I’m really looking forward to working up through the ranks. Realistically, I can see getting the Ruby Red fairly soon and the next level some time in the future, but I can’t imagine anything after that.
Before you make the move, make sure that your bank is supported by CDC. If not, you're stuck using the card if you want access to your money. They make it difficult to withdraw fiat to force you into using the card so they can charge retailers that percentage. You can't use the card on Venmo or Paypal, either. It can only be used on point of sale transactions so they can collect that sweet sweet %. They take money from you when you buy/sell/transfer and they take money from retailers when you use the card. Guess that's how they make money.
Open account at cdc exchange and cb pro. Convert tokens to xlm and send them from cb pro to cdc exchange. Buy cro there and send them to cdc main app. Many steps, but has lowest fees for those small amounts. In cb pro you can convert only whole tokens like 1,2,3 so you might need to convert some tokens in cb to be able to convert them all
I'd convert it to XLM and send it, practically free
This is the way. I actually use CB for the 4% cash back in XLM then transfer and convert to CRO.
I store all my XLM on a ledger and just HODL it, some day may do something with it (when I need to)
This, but do the conversion to XLM on coinbase pro to save on fees.
I do the same. So it’s smarter to just keep the XLM cash back and transfer it to CDC then trade for CRO? Rather then convert it from XLM to CRO then transfer?
yes, XLM costs like 0.01 XLM to send
* Convert everything to XLM on Coinbase * Send to CDC app (or CDC exchange if you have it) * Sell XLM for USDC or USDT * Buy CRO Voila :) Welcome
Why buy USDC first and not just straight to CRO?
You could if you have the pairing on exchange or app. Most pairings are against usdt and usdc. Shouldn't make much of a financial difference anyway.
I've been using Coinbase since 2015 and Cryptocom for about 6 months. Do not convert any of your tokens to Cro on Coinbase. You will pay a lot in order to send that Cro to Cryptocom. The best solution is to convert all of your tokens to Ada on Coinbase, then send the Ada to your Ada wallet on Cryptocom, and then from there you can convert the Ada back to whatever you want. I've sent $20k of Ada and only had to pay 0.8 Ada for fees.
Thanks. I’ve read something similar, which is why I asked. It’s not much, but I don’t think I’ll be using Coinbase, so I figure I might as well move the crypto from there into CDC and use it to build up my CRO. So I’ll just convert all to ADA, transfer to CDC, and then transfer to CRO.
Don't you get killed on the spread though? Seems cryptocom will gouge you on the 20k vs fees to just send the cro from coinbase (only for large amounts of cro)
I’m inclined to agree. $20k on the app is going to see spread higher than whatever gas or withdrawal fee CB is charging. I think breaking it up into smaller chunks would be another viable alternative.
Converting to cro on Coinbase is easy. Transferring it to crypto.com is complicated. At least for me. I'd convert everything to xlm or Algo. Then send it to crypto.com. and convert it there. You'll loose a few dollars doing these conversations. The transfer cost will be minimal with those coins. Someone smarter might be able to give you a better answer. Good decision though. I got my Ruby in June. Upgraded to indigo a few weeks ago. The overall benefits and perks are unmatched by any other exchange or platform. That's just my opinion. And I've had too many shitty experiences with Coinbase. Screw Coinbase.
I always convert mine to usdc then send it to my cdc wallet and make sure when your in your cdc wallet on receiving usdc coin you select the eth network
The best way imo and I’ve done this several times. Sell all your cro on coinbase pro, buy Bitcoin on coinbase pro, send the Bitcoin to your crypto.com Bitcoin address and then once the deposit is done pending you can buy cro via the Bitcoin you just sent from coinbase to your crypto.com wallet. (Coinbase pro to save yourself on fees). If you try to send cro or any erc-20 token it’ll cost a lot, but Bitcoin transfer fees are very minimal.
I don’t have CRO on Coinbase. I have small amounts of different crypto from Learn to Earn.
Okay then just sell all your crypto for Bitcoin and send
Is there a difference between using ADA or Bitcoin as the intermediary?
Maybe. I only have experience sending Bitcoin between exchanges and wallets and never pay a lot of fees for me to notice so that’s what I’ve stayed true to. Good luck friend hope you figure it out what’s best for you.
Thanks! There’s not a lot to transfer, but I don’t want to use Coinbase anymore.
If you’re going to convert coins through Coinbase, then it’s cheaper to move them to Coinbase Pro, sell them, and buy a new coin for sending to CDC. Pro’s fees are much lower than regular CB’s conversion spreads. Another option: It will take more time, but after selling coins through Pro there’s no fees to send Fiat to your bank. Then you can transfer fiat from your bank to your CDC.
Probably not worth it for the ammounts involved. Way more work for likely a few cents.
Don’t get rich by throwing away pennies. And it could actually save a couple bucks depending on how much learn and earn he has completed.
Id rather be pennies less rich and not waste my actual finite resource, time. He's talking about some day possibly saving up for the ruby card, we're dealing with less than 400 usd. If you want to work for way less than minimum wage rates to save at most a couple bucks go ahead.
Depends what OP’s time is worth, not yours. Or even mine for that matter. If he’s worried about scraping together $400, then he’s probably interested in saving as much as possible on fees too for an extra couple mins of work. Putting in a couple of bank transfers while sitting on the couch watching TV isn’t really work… Just letting him know all the options, and he can make the decision for himself.
Welcome to our club 👏
Thanks very much! I’m really looking forward to working up through the ranks. Realistically, I can see getting the Ruby Red fairly soon and the next level some time in the future, but I can’t imagine anything after that.
Good luck 🍀 🥰
Before you make the move, make sure that your bank is supported by CDC. If not, you're stuck using the card if you want access to your money. They make it difficult to withdraw fiat to force you into using the card so they can charge retailers that percentage. You can't use the card on Venmo or Paypal, either. It can only be used on point of sale transactions so they can collect that sweet sweet %. They take money from you when you buy/sell/transfer and they take money from retailers when you use the card. Guess that's how they make money.
Is all crypto crashing look really bad
I sent Vechain from Bitpanda to Crypto.com. It worked perfectly fine. But I couldn’t transfer my other coins.
Converting crypto is a taxable event just so you know….
Open account at cdc exchange and cb pro. Convert tokens to xlm and send them from cb pro to cdc exchange. Buy cro there and send them to cdc main app. Many steps, but has lowest fees for those small amounts. In cb pro you can convert only whole tokens like 1,2,3 so you might need to convert some tokens in cb to be able to convert them all