Ok TG (and anyone else)… I Know I’m Going To Regret This Hahaha

[Poppy]

i get paid to be a smart guy but please dumb this down.

I understand (mostly) the concept of downloading a wallet to keep my crypto $.

What I can’t get my head around is how do I get btc in my wallet for spending.

There’s atm machines around here for it I know but I don’t understand it.

Do I purchase btc online with credit/debit card?

Purchase at atm?

Keep in mind…I’m not investing (I’ve got enough money already). I just want btc in my wallet for purchasing purposes.

 

[Poppy]

The internet is all over the place with this.

There’s a bunch of lingo I don’t care to understand. Much the same as I can explain in extreme detail the theory of flight as well as all the sub-systems to minutiae for rotor and fixed wing aircraft but no one really knows all that when they’re getting on a plane to fly somewhere.

 

[Mossy1985]

A lot of the apps that allow you to transfer money, now have bitcoin on them. You can just purchase the coin and transfer it all straight from the app. As far as the wallet goes. I always purchased coin on line and sent it to my wallet. Which I always had to notify my bank because most of the coin on there was coming from across the ocean. I lost money in a wallet I couldn’t get back into. With CashApp or Venmo it’s all right there and simple to buy or send.

 

[TG1]

Use mycelium or coinomi as a hard wallet. Keep the words to backup.

You can purchase at atms but fee will be higher. Or use cash app or venmo I think can also do purchases. But I would still transfer to the other wallet.

If you go with an atm search Youtube for the name of the machine and most likely will be a video explaining how to use it.

 

[Poppy]

@Mossy1985 @TG

Cash app and venmo have bitcoin?

You buy btc with venmo or cashapp and have it sent to your wallet?

 

[Mossy1985]

I don’t use a wallet anymore. I just buy my bitcoin. Send what I need. Then whatever coin I have left. I go ahead and sell. Then cash out. I lost money in a wallet I couldn’t ever get back into. But yeah. You can buy bitcoin from Venmo or CashApp and then transfer it to your wallet.

 

[JLee]

So I use mycelium and buy my Bitcoin at an ATM using cash. Check the ATM fees because some are higher than others. There are videos online but basically you select buy Bitcoin, give them your cell number so they can text you a code, enter it, select how much you want to buy, scan your mycelium wallet address and then put your money in. You’ll get a receipt and text confirming payment. The scary part is that it can take anywhere from 20 minutes to 2 hours to receive it in your wallet. Seems complicated but it’s not. Hope that helps

 

[Mossy1985]

With CashApp and Venmo as soon as I buy coin. It’s instantly there and I can send it as quick as 10 minutes.

 

[Poppy]

Can my wife and I both have the same wallet with the same number on our separate phones?

 

[Poppy]

It’s instantly there

Where’s “there”?

 

[Poppy]

Wife can buy crypto with her venmo… can she send it (crypto ) to a vendor’s wallet/account from Venmo?

 

[JLee]

I don’t like giving out my banking info that’s why I use atm

 

[Mossy1985]

As soon as you purchase the bitcoin on CashApp or Venmo it’s ready to send or do whatever you like with. Another note with the apps some sponsors have a code to scan. As soon as you scan it, it will take you into the app to proceed with the transaction

 

[Neuro]

I know you can do this with cash app. Buy it directly in the app and send to a vendor.

Long term notes: if you have some sitting in the account and sell and it’s gone up in value, you have to pay taxes on it. Learned that the hard way this year.

Cash app/venmo will close your bitcoin capabilities if you’re constantly buying bitcoin and immediately sending all of it. I leave about $50-100 in there to avoid this and have never had a problem.

 

[Poppy]

you have to pay taxes on it

Oh good grief… we don’t need to pay any more for sure.

Thanks for the tip!!!

 

[Neuro]

They have to maximize the amount of money going to Israel.

 

[Poppy]

I mentioned it in another thread a month or so ago… wifey and I wrote the biggest check to uncle sugar (I believe) since we’ve been married…almost 14 years. 2012 might have been close or a bit more.

I just don’t know how folks like you get by. Good job making good money with no kids. My oldest and her hubby are “dinks”… double income no kids. Both make bank and they get slaughtered every tax year. Daughter has a great 401k that cushions it a bit but not enough in my opinion.

Tax lady told us we’d have to adopt 15 more kids to break even tax-wise.

 

[Neuro]

If I work two extra days in a pay period I lose about 2k to taxes on the check.

 

[Poppy]

Sounds oh too familiar!!!

I guess we are all turning into our parents… complaining about taxes!!! Hahaha

That new kid (grad) i was telling you about just started full time with us put it perfectly… “everyone is blaming my generation for all the problems when actually I’ve only been voting for 4 years”…

Very true….our problems have been around a very long time.

 

[Neuro]

he’s making very good points!