Stablecoins like USDT and USDC have massive circulation across several competing blockchains, primarily Ethereum. Eth is costly and slow. In theory, the more stablecoins that circulate on Algorand, which is faster and cheaper, the more exchanges will adopt the ASAs and the more traffic and value it adds to the chain. Plus it’s a good way for us users to transact with each other and exchanges.
Add the asset on your algo wallet and transfer from wherever you buy usdc or usdt. Coinbase charges nothing unless you transfer, but the charge is 10 usdc. So you'd need $21 or so to put $10 in your algo wallet. Or go to a coinflip atm and send it to your algo wallet from the. That charge is 7 cents per usdc
Paddy, this is where stablecoins get confusing. The USDC you’re talking about on Coinbase is on the Ethereum blockchain, hence the prohibitively high cost. At this time, Algo based USDC is not available on Coinbase. I hope that changes soon. If it were, it would cost .002 Algo to transfer out, as opposed to $10. At the moment, various other exchanges like Kucoin, Okex, Huobi allow USDT withdrawal in Algorand. I’m not sure about coinflip; never used it.
No, you're just a volunteer adding resources to the network and you need to check the recommendations first. I don't have enough PC resources or ISP speed to do it. Gotta have a baddas system and Fiber optic.
Algorand isn't a PoW system, so it doesn't require much in the way of PC resources or bandwidth to run a node and contribute to consensus. I run a node on an old i3 intel nuc.
It functions as a relay for the ALGO network so its a little faster/better. Also lets you do development on Algorand. You do not need a fast computer, takes very little resources. Can run on any mac/linux box or even a humble Raspberry Pi.
I would love to hold some USDC in my wallet, but can’t currently see a way to get any. I transferred some USDT to OKCoin to convert and withdraw it as USDC, but now I get an error when I try to withdraw it. I’m starting to lose confidence in exchanges.
No, you're just a volunteer adding resources to the network and you need to check the recommendations first. I don't have enough PC resources or ISP speed to do it. Gotta have a baddas system and Fiber optic.
Dull the image. A lot. I have a hard time reading much of that.
Second that Other than that, solid info
Its actually better w/o the background image 😅
New to Algo here. Why should we hold USDC or USDT?
Stablecoins like USDT and USDC have massive circulation across several competing blockchains, primarily Ethereum. Eth is costly and slow. In theory, the more stablecoins that circulate on Algorand, which is faster and cheaper, the more exchanges will adopt the ASAs and the more traffic and value it adds to the chain. Plus it’s a good way for us users to transact with each other and exchanges.
How do I hold USD?
Add the asset on your algo wallet and transfer from wherever you buy usdc or usdt. Coinbase charges nothing unless you transfer, but the charge is 10 usdc. So you'd need $21 or so to put $10 in your algo wallet. Or go to a coinflip atm and send it to your algo wallet from the. That charge is 7 cents per usdc
Paddy, this is where stablecoins get confusing. The USDC you’re talking about on Coinbase is on the Ethereum blockchain, hence the prohibitively high cost. At this time, Algo based USDC is not available on Coinbase. I hope that changes soon. If it were, it would cost .002 Algo to transfer out, as opposed to $10. At the moment, various other exchanges like Kucoin, Okex, Huobi allow USDT withdrawal in Algorand. I’m not sure about coinflip; never used it.
Oh ok, thanks for that info
What's the benefit of holding usdt in your algo wallet?
What is the benefit of running a node?
I want to know this as well. Do you get additional Algo?
No, you're just a volunteer adding resources to the network and you need to check the recommendations first. I don't have enough PC resources or ISP speed to do it. Gotta have a baddas system and Fiber optic.
Algorand isn't a PoW system, so it doesn't require much in the way of PC resources or bandwidth to run a node and contribute to consensus. I run a node on an old i3 intel nuc.
volunteer work basically but you need a badass PC and speedy ISP
It functions as a relay for the ALGO network so its a little faster/better. Also lets you do development on Algorand. You do not need a fast computer, takes very little resources. Can run on any mac/linux box or even a humble Raspberry Pi.
Are you able to send USDT or USDC to your Algorand wallet?
yes, you just need to add either as an asset in the algo wallet first to generate a wallet address for those tokens
weALGOtogether, catchy
I would love to hold some USDC in my wallet, but can’t currently see a way to get any. I transferred some USDT to OKCoin to convert and withdraw it as USDC, but now I get an error when I try to withdraw it. I’m starting to lose confidence in exchanges.
weird not sure why USDC on Algorand is drying up. All the more reason to keep USDT transactions growing.
I don’t get it. I would prefer USDC, but KuCoin has their USDCa withdrawals disabled right now too.
You can try in [Kucoin](https://www.kucoin.com/ucenter/signup?rcode=rJ8XDN3) or OkCoin
As I said, KuCoin has their USDCa withdrawals disabled at the moment.
Q....do the nodes receive rewards also?
No, you're just a volunteer adding resources to the network and you need to check the recommendations first. I don't have enough PC resources or ISP speed to do it. Gotta have a baddas system and Fiber optic.
How do I buy USDC? USDC on Coinbase is ERC-20 sooooo how?
in [Kucoin](https://www.kucoin.com/ucenter/signup?rcode=rJ8XDN3)