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0 sats \ 3 replies \ @DarthCoin 23 Sep 2023 \ on: Things I learnt today, (and some confusion) bitcoin
So all your hassle was just for meaningless $8.20 in shitcoins? LOL
Man, I sent you a lot of guides. Did you read them?
When you would learn the lesson?
Hi @DarthCoin, I finally managed to swap shitcoin SOL to BTC.
I started with 10 USD, and ended up with around 7 USD. Also, this is my first ever transaction on Electrum wallet. I learnt about these wallets from your guides and made a wallet in my PC, backed up my keys and did my first transaction. I was literally fearing a lot if I am doing it right, from
Uphold to > Phantom to > SOL to > SimpleSwap and finally to > Electrum BTC.
Next thing I will try is to purchase BTC with https://hodlhodl.com/ as suggested in your guide. I will SignUp when I have saved some 100 USD for my first P2P purchase of BTC ever. Hope it all goes well, and Thanks a lot for bearing with me. It took me almost a week to learn and do all of the above steps one at a time. I was reading along the way.
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- When you use Electrum:
- if you use it for onchain, set to display BTC not mBTC. That is more clear in your mind. mBTC is confusing and you will make mistakes. Guaranteed!
- if you use it with LN activated, set to display in sats. That is the unit for LN, so again you will not get confused when you will make transactions.
- Stop saying "saved some 100USD" when you talk about Bitcoin. It is BTC or sats. Nothing else! Everything on Bitcoin network is bitcoin or sats, remember that. You are niot saving USD, you are saving BTC. Stop using the fiat/shitcoin mindset. Now you are in the Bitcoin world.
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Yes, I read guides of converting to USD and then transfer over to BTC, but being from a non-US country with no KYC, it was not possible to switch to USD without adding bank account. And converting to BTC directly from shitcoins was too expensive, considering its small amount. (1 USD transaction fee + 3 USD BTC on-chain fee), and then sending BTC to own Bluewallet (3 USD fee). I would have paid 7 USD in all fee and left with next to nothing.
Since I am just learning to use online transaction addresses, I chose the one with lowest fee, which I am planning to switch to LN wallet like Alby or BTC, which would incur some 3 USD more, and I can get around 5 USD in BTC.
I did not wanted to go this route, but this is the cheapest path possible. Now, I'll be out of shitcoins. Thanks for your comprehensive guides though, specially on wallets, P2P buying and keeping keys safe. I loved and bookmarked your this guide on P2P exchanges: https://darthcoin.substack.com/p/from-where-can-i-get-some-bitcoins
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