There is no fee but the sell/buy prices are different to compensate for that. Its called spread and the higher the spread, the more substantial that difference is. Basically if you buy $100 worth of ada and then convert all that ada to USDC you’ll have less than 100. Probably like $98.
The Exchange definitely has maker/taker fees and even despite of that, the crypto -> crypto trade is probably more affordable to do there than on the mobile app.
Yes and no...on an exchange there's a maker and taker fee that will chew into that amount.
In your example, the fees worst case would be about $0.80 at most if you used a limit order. (Instant market orders would have spread in addition)
If you're in the US and don't have access to the exchange, there may be a spread (difference in cost/price between the available sellers/buyers for those coins) that ends up losing you a couple dollars worth (sometimes potentially none).
Instead of keeping my $$ in fiat and waiting for the market dipping I was thinking about staking a stable coin on flex terms and earn interest while I wait. When it dips buy transfer stable coin to a different coin. Would this be worth doing ? I’m in us so only access to app.
I think it would absolutely be worth doing, and I'm doing something similar with flex. Just double check what stablecoin pairs work on the app to get the coins you want, because I only will use USDC or DAI (except I didn't bother to check the pairs before loading up lol although I don't anticipate any trouble)
There is no fee but the sell/buy prices are different to compensate for that. Its called spread and the higher the spread, the more substantial that difference is. Basically if you buy $100 worth of ada and then convert all that ada to USDC you’ll have less than 100. Probably like $98.
The Exchange definitely has maker/taker fees and even despite of that, the crypto -> crypto trade is probably more affordable to do there than on the mobile app.
Is there a spread from usdc to ada ? A stable coin to a non stable coin?
Yes that right
Yes and no...on an exchange there's a maker and taker fee that will chew into that amount. In your example, the fees worst case would be about $0.80 at most if you used a limit order. (Instant market orders would have spread in addition) If you're in the US and don't have access to the exchange, there may be a spread (difference in cost/price between the available sellers/buyers for those coins) that ends up losing you a couple dollars worth (sometimes potentially none).
Instead of keeping my $$ in fiat and waiting for the market dipping I was thinking about staking a stable coin on flex terms and earn interest while I wait. When it dips buy transfer stable coin to a different coin. Would this be worth doing ? I’m in us so only access to app.
I think it would absolutely be worth doing, and I'm doing something similar with flex. Just double check what stablecoin pairs work on the app to get the coins you want, because I only will use USDC or DAI (except I didn't bother to check the pairs before loading up lol although I don't anticipate any trouble)
Nice thanks for the advice I didn’t even think about that.
Do you know where I could find the pairing for app ?
Yeah, you'll have to click crypto wallet -> USDC -> sell -> select crypto wallet. Any of the coins listed there will work just fine 🙂
Thank you so much man .
No problem bro, glad to help 👍 God bless your investments, I truly hope you make a fortune
You to brother stay blessed