I've read the other threads here but I just would like confirmation that I understand correctly how buying/transfering crypto works.

[Luke391]

So, let's say I buy crypto on an exchange app. Then I trasfer that crypto to a wallet on my pc (electrum in my case), does this have fees? If yes, how much?
Then I am supposed to send the crypto from my wallet to the wallet of the vendor, again, does this have fees?
Is this all there is to it? : buy on coinbase - trasfer to electrum - send to vendor?

I feel like I may be missing some important step or oversimplifing it. Could you guys tell me if I understood correctly or if I'm mistaken?

 

[readalot]

So, let's say I buy crypto on an exchange app. Then I trasfer that crypto to a wallet on my pc (electrum in my case), does this have fees? If yes, how much?
Then I am supposed to send the crypto from my wallet to the wallet of the vendor, again, does this have fees?
Is this all there is to it? : buy on coinbase - trasfer to electrum - send to vendor?

I feel like I may be missing some important step or oversimplifing it. Could you guys tell me if I understood correctly or if I'm mistaken?

You didn't read all the threads here.

 

[Luke391]

You didn't read all the threads here.

so helpfull, thanks

 

[readalot]

so helpfull, thanks

Key to understand before you get started.

Search results for query: Non kyc

thinksteroids.com

 

[dionetib]

So, let's say I buy crypto on an exchange app. Then I trasfer that crypto to a wallet on my pc (electrum in my case), does this have fees? If yes, how much?
Then I am supposed to send the crypto from my wallet to the wallet of the vendor, again, does this have fees?
Is this all there is to it? : buy on coinbase - trasfer to electrum - send to vendor?

I feel like I may be missing some important step or oversimplifing it. Could you guys tell me if I understood correctly or if I'm mistaken?

there’s a fee for all transfers between the wallets. The fees aren’t set in stone but fluctuate depending from the network’s congestion. You would usually get a quote just before you approve the transfer

I’m assuming you are trying to send bitcoin if it’s electrum wallet?

 

[Beginnerweak]

You're right, you can even bypass the electrum and send it directly to the vendor of whatever it is that you want to buy, but sending to your own wallet on electrum is better for privacy (I think...), I wouldn't worry about the fees as they are really low and will be shown to you before sending,

Just always double check the address you're sending or receiving to.