When looking to convert cryptocurrency into the format you desire, it is important to evaluate the pros and cons of exchanges and trading platforms. Not all exchanges/platforms give you access to all currency and there are fees that can get rather pricy. They also have minimum transaction amounts, which increases difficulty to work with smaller amounts. Be sure to investigate the nature of the exchange/platform as well as customer service and reviews. Sometimes it is not in your best interest to use any services that require you to operate an OCONUS account.
I have been experimenting with the different methods one could use to acquire varying types of cryptocurrency since August 2017. While experimenting I have discovered the easiest route with diminished risk. However, let me first say that I would completely avoid using the service known as "Shape Shift" and any platform or wallet that supports/uses. This service is notorious for screwing you out of your money, regardless of the type. They took me for $40 because my deposit did not arrive within their time window of 9mins! You may have better luck with ChangeLly, safer to avoid anything that operates with time windows.
The route I discovered and now use is Coinbase for a wallet/exchange. GDAX is a trading platform operated by Coinbase, they allow you to send CC without fees. GDAX only offers 4 CC, and they are BTC, BCH, ETH, LTC. So I send BTC to Binance and they have a large selection. It is very important that you learn all of the ticker symbols, you dont want to end up with the wrong CC. Binance is easy to use and very safe, and if you download Google Authenticator, 2fa is available.
In conclusion, open a Coinbase account/wallet, a GDAX account, and a Binance account. Purchase BTC on GDAX using their deposit option from your bank account. Send BTC to Binance and trade for other CC. Binance does charge a fee to withdraw but is also a wallet, so you do not need to withdraw. Good luck and have fun.
Was looking for this. Thanks
Upvoting because I have been screwed out of hundreds using shapeshift enabled wallets. Exodus; for example could simply allow users to use segwit addresses for bitcoin and also allow users to have the option on priority of their transaction to reduce fees...but sadly they don't.
very interesting post...
Thanks for sharing it...
upvoted and followed...!!!
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