Topic: newb (Read 233 times)

good news, the miner, added litecoin as a payout option, so i can just transfer that straight to paypal. although i do it when the markets are up not down. how much is .01 likecoin anyhow.like .69$thanks everyone.

i know its been awhile since i posted. but think i'll just keeping mining till christmas and send the bitcoin straight to paypal and eat the fee. its something like $13, around 10%. probably twice a year. the miner is easy, and i dont have to research anything rn. although when i get around to using 4 pc's ill start looking into more versatile miners after i learn more about wallet compatablity, to increase yeilds. thanks guys.

Crypto is broad and there's vast number of projects in the space. Newbie ought to ask crucial questions before indulging in the system, I acknowledge the fact that there's possibly more credits to be accumulated in the system. Mining is always stationed to be slow but their rewards are always consider massive. The market comes with more challenges than we could possibly bear and we should do our best to ensure we're accessing profits.

hi again, haven't done a lot of mining, but almost have another $10 on the miner again.
i found out a lot about the transfers and it turns out i need some BNB(bep20) as a fee to transfer that out of the unstoppable wallet.
sad though, due to location restriction of BNB(Binance), i cant trade on there networks. and im not sure how to acquire said .2$ BNB(bep20) smart chain.
downloaded bitpay wallet tonight because i noticed it takes usdt(tether) and i should be able to spent it there. that wallet actually syncs up with coinbase and coinbase wallet. i heard cash app work with bitcoin, but i think thats it. oh, i just basically waiting for location restriction to be lifted on binance. not sure how to buy bnb on another wallet if possible.
would like to try the new wallet(bitpay), cuz i think there are working on a debit card rn. although there min. crypto purchase is $20
might wait to fund that after its active. although usdt isn't on there supported list.

there is an option on there to sell crypto for cash. but i dont have any on there to test.

other than all that.
maybe i should ask how other people are mining. is farming litecoin anygood? cuz paypal takes it, and so does bitpay,
i dont think i want to farm etherium, i mean if i mine bitcoin, ill probably only withdraw once or twice per year at most.

pointers on miners, pools, wallets, online digital banking.

my miner updated twice this week, and my lil computer is doing over 6ghz, and the big one usually over 12ghz.
any ideas, thanks.
 

hi, the region thing hasn't been an issue and i haven't had to use a vpn.
1. miner is fine. making bitcoin
2. transfering to a wallet is fine. no biggy.
3. getting the usdt to paypal is my issue right now. i tried all the transfer options. the paypal(etherium) option said the minimum was to low, and also possible fees. (im not totally sure, these factors are not listed/posted)
4. im not sure if im actually making profit. im not paying the electrical bill(hydro-electric) myself,. but ill know soon enough possibly.

does anyone have expierence using paypal/crypto?, know where i might find some answers/ideas?(ill probaly email paypal soon enough)

thanks again.

ok, so i think what i have in my wallet is usdt (tether)bep20 $1:$1
i think i need to just straight up transfer bitcoin from said miner to wallet, then to paypal, skip the conversion. then i can sell the bitcoin to paypal during checkout of purchases. thanks. bitcoin minimum transfer free is like $7.thanks again.

I couldn't quite follow what the OP tries to achieve, too. I wonder if he did the math for profitable mining at all. The GPUs he mentioned surely burn quite some energy per day, very likely more than the 1$ worth of mined coins, of course it depends how much OP has to pay for electricity as it usually doesn't come for free, unless you have a decent amount of unused energy produced by a PV.

I feel like you are making this more complicated than it needs to be. You have described all of the steps you are taking without really describing what you are trying to do, so it is difficult to help.

Let me see if I can summarize: You are running Kryptex's mining software on your computer. In exchange, the company deposits bitcoins into your account. You want to cash out the bitcoins in your account for dollars that you can spend. There also seems to be some kind of region restrictions, so you use a VPN to get around them.

Cashing out is not difficult. You basically send the bitcoins to a site where you can sell them for dollars. Then you send the dollars to your bank account so that you can spend them. In general, you cannot send cryptocurrencies directly to a bank.

However, Paypal makes it easier. You can send the bitcoins to your Paypal account, and then sell them to Paypal for dollars, which you can spend.

The region restrictions may or may not be a factor. It is hard to say without any information.

hi guys, thanks for all the responses. i was using unstoppable wallet, but ill look into those two you mentioned. im able to get the mined bitcoin off my miner easily and transferred into USDT(bep20) within minutes, i transfer about another $10 again. so i tried PayPal again and even with over $20 it wasn't happening. not sure if i can find the actual exact minimums and fees and what not or am even sure what type or transfer to use. i was thinking i could buy PayPal because it too it $1:$1. thanks, ideas.

these are the only options for recieving cryptocurrency on paypal currently.

PayPal(pyusd) usd $1,
Bitcoin(BTC)
Etherium(ETH)
Litecoin(LTC)
Bitcoin Cash(BCH)

(and i think it said that paypal crypto is in etherium)

does anyone else know of a way to get bitcoin transfered/traded to a bank account(e.i.paypal, possibly?)into usd?thanks.

Ok, I don't know if Kryptex is legitimate, but let's assume that it is.


If there are restrictions that require you to use a VPN, then you may not be able to transfer the proceeds from your mining account to an account at a U.S. company. For that reason, you will probably need a "non-custodial" wallet. There is a large number of wallets to choose from, depending on the kind of computer/tablet/phone and the features that you are interested in. Electrum is generally a solid choice, though I am not familiar with all of the wallets out there.



That is confusing. It looks like you can send bitcoins to your paypal account from an outside wallet. So, in short send the BTC from your mining account to your non-custodial wallet, and then send the BTC to your PayPal account. Here is some information from PayPal: https://www.paypal.com/us/cshelp/article/what-can-i-do-with-crypto-on-paypal-help893

Note that receiving bitcoins in small amounts will increase your fees for sending. I recommend waiting for your mining account to accrue at least a hundred dollars or so before sending the BTC to your wallet.

What coin are you mining for starters?

Certainly not Bitcoin for starters and it's hard to recommend you the type of wallet you should use, but I recommend you use noncustodial open source wallets. When you want to exchange the coins you have mined for PayPal, it's best to use p2p exchanges like HodlHodl, localcoinswap etc.

Beware of scammers, you might reverse your transactions since PayPal payments are reversible.

You have been given the best required wallet for that purpose, try to make use of any of the two, which are electrum or bitcoincore, but i don't really know much about cloud mining because it sucks going for such base on other peoples experience, but yours seems to be connected with the kind of game you played, which the rewards as well could be claimed in any of the non custodial wallet provided that you're on the right platform for that.

What currency do you want to mine?
Cloud mining is highly discouraged due to the risk it poses, you're better of joining a mining pool and earning based on the percentage of computing power you offer.

There are good wallets like electrum and Bitcoin core that gives you ownership of your wallet and requests no personal information.

- Jay -

sorry, i'm making a new thread, just though it be easiest.

so i'm new to mining, been mining less than two week on two gaming pc's.
running a 4070 on a 5800x3d, and a 3070 on a 4750e. been generating 10/20 ghz.s between the two, making about a $1 a day.(settings and calibratoins have stablized, in that i can play on both computers well(gaming) and temps arent over 75 degrees anymore.) i'm a fortnite save the world kind guy.
so today i went to try to claim the funds and realise i dont know what im doing yet.(wallets and i.p., think i need to get a vpn)
the day i started i tried dling all these dif miners, and settled on kryptex because it was the only thing i could get to work and it seemed like a lot of people with mining with it. so i guess im lf advice for a beginner, i figured this was not going to be easy with no prior experience. not sure how to go about this.
oh i tried using the coinbase wallet, it was the first thing that popped up on google. although it said the wallet address was invalid. in the long run i basically want to run funds to paypal somehow, so i can pay digitally for video games stuffs, and or real cash ya know. thanks.

so i guess im asking if there is a better/more legit wallet that i can use over a vpn(free) to unlock region restrictions as i'm in the u.s. and i think its a european/russain mining company. or if i need to scrap this miner and go with something else that works. thanks ahead of time. really appreciate it.

ok, i found a wallet that i can transfer to...
how do trransfer it from a wallet to paypal?
so i kinda get it to recognise accounts to transfer to paypal from wallet with send usdt and recieve paypal etherium, but said the balance it below the required amount. just 11.47. think i might be more like $20, any ideas? thanks.( i think it might be $20, so i try this again in a lil over a week. thanks.)