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Where to mine and where to store

  • 11-05-2021 2:30am
    #1
    fritzelly
    Registered Users, Registered Users 2 Posts: 18,016 ✭✭✭✭


    I'm a noob about this so would appreciate some advice

    I currently mine to ethermine.org and that is paid out to Exodus

    Is this the best strategy?


    If I want to cash out to Euro or buy more crypto what is the best sites to do it? The fees seem to be the main issue with many sites.

    TIA


Comments

  • #2
    harmless
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭harmless


    fritzelly wrote: »
    I'm a noob about this so would appreciate some advice

    I currently mine to ethermine.org and that is paid out to Exodus

    Is this the best strategy?


    If I want to cash out to Euro or buy more crypto what is the best sites to do it? The fees seem to be the main issue with many sites.

    TIA


    I use kraken. The main fee right now will be gas(transaction fee due to a very busy ethereum network) to transfer to kraken.
    Then some small fee to convert Eth to Euro and a few cent for a sepa transfer to your bank.

    Fees are better than coinbase but I only know about coinbase and kraken so there may be a better option.

    If you buy crypto on kraken there is a 72 hour security delay to transfer that crypto for the first transaction.


  • #3
    fritzelly
    Registered Users, Registered Users 2 Posts: 18,016 ✭✭✭✭fritzelly


    Thanks

    Is it better to exchange the ETH to a different crypto in Exodus before transferring it to Kraken


  • #4
    harmless
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭harmless


    fritzelly wrote: »
    Thanks

    Is it better to exchange the ETH to a different crypto in Exodus before transferring it to Kraken


    No that would increase the fees you pay.

    The kraken site has so much on it, it can be confusing. Ask if you are unsure about anything.
    But they are reliable and have been around for a long time.


  • #5
    harmless
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭harmless


    Just to add I sent a sepa transaction at around 5PM yesterday and the money arrived in my bank at 9am this morning.

    It's been years since I used kraken for a withdrawl to bank and I still highly recommend Kraken


  • #6
    TheValeyard
    Registered Users, Registered Users 2 Posts: 13,261 ✭✭✭✭TheValeyard


    fritzelly wrote: »
    I'm a noob about this so would appreciate some advice

    I currently mine to ethermine.org and that is paid out to Exodus

    Is this the best strategy?


    If I want to cash out to Euro or buy more crypto what is the best sites to do it? The fees seem to be the main issue with many sites.

    TIA

    I've used Exodus with no problems, until the recent gas hikes.

    Still think, unless I'm wrong you're better off with an actual wallet on the HDD.

    All eyes on Kursk. Slava Ukraini.



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  • #7
    harmless
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭harmless


    TheValeyard wrote: »
    I've used Exodus with no problems, until the recent gas hikes.

    Still think, unless I'm wrong you're better off with an actual wallet on the HDD.
    A cold wallet is good if you don't want to worry about your pc or phone being compromised.

    Exodus can't control gas prices, the advanced feature on it allows you to set it lower than the recommended gas. Just don't go too low or it may never make it.

    I'm not sure if this is the best site but there are a few for calculating how much gas you should use and the estimated time difference in the transaction.https://etherscan.io/gastracker

    Lots of people who don't need a rapid transaction are wasting gas and it's all going into the miners pockets.


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