Investing in altcoins

#1

Hi all
I live in New Zealand and I am interested to hear from any of you about the most cost effective way to credit my metamask wallet in order to invest in altcoins? I normally buy ETH through a local exchange and send to my metamask wallet then purchase alts from there. Would I be better to buy and hold USDT?
Thanks
Ian

#2

Hi, I’ve been informed that there are safer alternatives like DAI or USDC compared to USDT when comes to stable coins… apparently the USDT is supposed to be backed by USD at 1:1 ratio, but it is not confirmed and there are suspicion that it is just being printed out of thin air. In case if I don’t have the correct information, please provide shout out! Trying to learn as much myself here… thanks!

1 Like
#3

Hi @Glegy

In the US, I use Coinbase as my onramp.
Coinbase is a partner of the USDC stable coin and they respect 1:1 from their exchange.
There is essentially no slippage through their Pro.coinbase platform.
So money goes from my US bank => to Pro.Coinbase => then I switch to 1:1 USDC => then from there I can send the USDC direct to my Metamask.

As I side note, I recently noticed that now Metamask allows you to buy directly; from what I can see they have a partnership with “Wyre”, and/or “Coinswitch”. I have personally not use it, but there is that.

Greetings!

1 Like
#4

Thank you, I appreciate your response

#5

Thank you for your reply

#7

Let’s hear from others in the community and share our experiences to help each other make informed decisions. Happy investing, and here’s to fruitful returns!

#8

Hey there, fellow crypto enthusiasts! :wave: I see we’re discussing the most cost-effective ways to credit a Metamask wallet for investing in altcoins. As someone living in New Zealand, it’s always helpful to hear from others who have navigated similar situations.

While purchasing ETH through a local exchange and sending it to your Metamask wallet seems like a reliable approach, have you considered exploring the option of buying and holding USDT? It’s worth exploring its potential benefits in terms of convenience and minimizing transaction fees. However, it’s essential to conduct thorough research and consult with experts to ensure it aligns with your financial planning goals.