How to buy HRT with cryptocurrency

Index

  1. Introduction
  2. Basic terms
  3. Common questions
  4. Suppliers
  5. Switchere or Moonpay (very straightforward, have some fees)
  6. Kraken (requires a little more work, almst no fees)
  7. Cake Wallet
  8. Learn more about web3
  9. Additional notes

(Last update: 1.11.2023)


1. Introduction

Cryptocurrencies are volatile. Their value may change dramatically overnight, so it's best to buy them right before you pay the supplier.

If you buy them even a few days before you make the payment, their value might decrease meanwhile, and you may no longer have enough to pay for your HRT.

You should complete the entire process in this order:

  1. Read this guide and ask questions on Discord if you need to.
  2. Find out what currencies does your seller accept.
  3. Decide which one of the accepted currencies to use.
  4. Make sure the seller has the product you want in stock and that their website (shopping cart, checkout window) is working properly. Do not finalize the order yet.
  5. Buy the currency. (If using Kraken, wait about 3 days - see the section about Kraken)
  6. Finalize the order, get the address for payment, send the currency to the payment address.

2. Basic terms

Blockchain: Technology that allows cryptocurrencies to work. A place where all the transactions happen. There are different blockchains, and they all require computing power to run. That computing power is paid for with transaction fees.

Cryptocurrency: Digital currency that offers various degrees of decentralization and anonymity.

Fiat currency (or just fiat): Normal currencies like the dollar or the euro.

Crypto address (or just address): Each account on a crypto platform has one or several addresses. Same is true for independent crypto wallets.

Crypto wallet (or just wallet): Phone or PC apps that allow complete control over cryptocurrencies in them. Has a unique address.

Crypto exchange: A platform for buying, trading, and selling cryptocurrencies.

KYC (Know Your Costumer): Crypto platforms usually require some form of identity verification like an ID, passport, or a driver's license. KYC may also include taking a selfie or providing the so called "proof of residence" by, for example, uploading a photo of an utility bill.

Kraken: A popular and trustworthy crypto exchange covered in this guide.

Switchere: A crypto platform that allows fast and easy purchase of cryptocurrencies.

Moonpay: Offers the same as Switchere.

Transaction fees: The fee you have to pay when you pay with cryptocurrencies or do anything else on a blockchain.

Bitcoin: The original cryptocurency. Generally seen as a "store of value" and not so much a currency used for paying for goods and service. Higher transaction fees.

Litecoin: Has much lower transaction fees than Bitcoin. More often used to pay for goods and services. It's sometimes said that Bitcoin is gold and Litecoin is silver.

Ethereum: A popular currency with a blockchain that allows for more complex operations. Often has higher transaction fees.

Monero: Has low transaction fees and also offers anonymity. Monero transactions are untracable.

Monero or Litecoin?

You wanna pay with Monero (XMR) or Litecoin (LTC) because they have very low transactions fees - a few cents or less. Using Bitcoin will cost you aditional 2-3 € for transaction fees, and for Ethereum it's between 4 and 7 €.

Monero can be harder to buy, but transactions made with it are anonymous. Litecoin is easier to buy, but transactions made with it can be seen by anyone. In general, ordering estradiol medications for personal use shouldn't need the privacy of Monero, but it can still be nice to have.


3. Common Questions

Q: How do I buy crypto without an ID?A: If you need to ask this question, there is probably no fast and easy way for you to buy without an ID, and it'd very likely be easier for you to deal with showing your ID than figuring out a way to buy crypto without one. If you really need to buy anoynmously, check out the section "Additional Notes" at the end of the guide.

Q: Can I get in legal trouble if I provide my ID and pay with a currency that's not anonymous?A: That is extremely unlikely, and there are no known cases of that happening. Even if a seller were to be raided by the authorities, trying to persecute everyone who's ever bought from them would be impractical and likely not worth the trouble. If you're only buying for your own personal use and if estradiol is not a controlled substance in your country (which is usually the case), you have nothing to worry about. That said, using Monero for an additional layer of safety can be an ok idea.

Q: My bank won't allow me to buy crypto!A: Some banks have started blocking sending money to crypto platforms. If your purchase is failing for no obvious reason, that may be why. Check with your bank to be sure and then look for a different bank that's still okay with it. Alternatively, Kraken offers Paypal as one of the payment options, so you can send the money from your bank to your Paypal account, register on Kraken, and then use the Paypal to buy on Kraken.


4. Suppliers

(This list focuses on homebrew injectables. It's only meant to give you a general idea of how the market looks like. It's not exhaustive, and its also not regularly updated. Make sure to check what currencies are supported by your chosen supplier!)

Otokonoko: accepts multiple currencies. This provider is flagged by Coinbase. Do not use Coinbase to send currencies to them.

Vanna Pharma: accepts Monero, Litecoin, and a bunch of other currnecies.

AstroVials: Monero and Bitcoin.

Felicitas: Litecoin, Monero, Ethereum, Bitcoin.

Dragon Ordnance: Litecoin, Monero, and some others.


5. Switchere or Moonpay (very straightforward, have some fees)

switchere.com

www.moonpay.com

Switchere and Moonpay are both fast and easy platforms to pay for your HRT.

Both platforms may or may not require KYC.

Switchere claims not to require KYC under certain conditions - if you live outside the US and buy an amount lower than $150 - however there are many reports that this isn't true, and that users have to provide a photo of an ID anyway.

Moonpay doesn't openly promise not to require KYC, but some users report that it wasn't required for them. At the same time, others say that it was.

Be prepared to provide at least a photo of your ID when using either of them.

Switchere has purchase fees of 4% while Moonpay's are about 6%. So if you're buying 100€ worth of crypto, you will have to pay 104€ or 106€ respectively.

In the end, just pick one platform and go through the process - both are very easy to use. If you have any questions, you are welcome to ask on Discord.

If you need Monero:

Switchere and Moonpay don't sell Monero, so you will instead buy Litecoin, send it to your Cake Wallet, and then swap your Litecoin to Monero there. Cake Wallet is a simple phone app that's covered in part 7 of this guide.


6. Kraken (requires a little more work, almost no fees)

kraken.com

Kraken basic terms:

Funding: sending crypto of fiat currencies to your Kraken account.

Withdrawing: sending crypto of fiat currencies from your Kraken account to somewhere else.

Withdrawal fee: a small fee you pay when withdrawing.

Purchase fee: a small fee you pay when buying cryptocurrency.

Note: new Kraken accounts need to be 72 days old before they can withdraw. This means that Switchere and Moonpay are the faster options. However, Kraken has lower fees, has the best reputation of the three, and it also puts you in a better position the next time you wanna do something crypto-related.

The default Kraken interface has been simplified, so the process of signing up and using basic features is now comparable to Switchere and Moonpay. It still requires a little more work to get the full benefits.

(At the moment, I can't find any articles or videos explaining the new Karaken's default/basic interface, but I assume that's because it's so simple and intitutive. In case people end up having issues with it, I'll expand this section with a small guide.)

Buying any amount of currency with a bank transfer using a Kraken Pro account costs just a few cents.

Once you create an account on Kraken, you begin as a Starter account. This means you've only provided the very basic data like your name and email. Starter accounts can't be funded with fiat currencies, which means you can't send money from your bank to Kraken. To do that, you have to upgrade to Intermediate.

Upgrading to Intermediate requires KYC. This may involve just an identity document, but some users also have to provide a "proof of residence". It's not clear how this is determined.

Intermediate accounts still have to pay the same purchase fees as Starter accounts. Getting a Pro account is just a little extra work and will reduce your fees by a lot.

To upgrade to Pro, you need to found your account, and then you also need to fill a short questionnaire about your financial status. It doesn't seem to matter what your answer are since approaval is automatic.

More info: https://support.kraken.com/hc/en-us/articles/115005036268-Personal-account-with-Pro-limits

After all that, you can finally buy at the heavily reduced prices of a few cents. More info: https://www.kraken.com/en-us/features/fee-schedule#kraken-pro

UK residents who need Monero: obtaining Monero in your country requires a different approach. See the next section about Cake Wallet.

Kraken also allows you to buy with your Paypal account. This carries a higher purchase fee, but it can be useful in some situations.


7. Cake Wallet

cakewallet.com

This section describes how to use the Cake Wallet phone app.

The instructions are meant for those who need to exchange Litecoin for Monero (since Monero is impossible to buy with Switchere and for UK users of Kraken), but they're also useful if you just wanna learn how about Cake Wallet.

Buy Litecoin:

Buy Litecoin with Switchere or Kraken. You will send the Litecoin to your Cake Wallet in the next step. The transactions you'll be doing will each require a very small fee, so buy a little more than the price of HRT is (a single pound/euro/dollar is enough).

Set up the wallet:

With your phone, go to the Cake Wallet's website and install the app. Once in it, create a Monero wallet and a Litecoin wallet. You can manage your wallet by opening the top right hamburger menu, going to settings, and selecting "wallets".

Open your Litecoin wallet. Press "receive" in the bottom menu, and you'll see your wallet's address. This is the address you need to send the Litecoin to. If you've used Kraken to buy the Litecoin, withdraw the Litecoin to your Cake Wallet Litecoin address.

Exchange Litecoin to Monero:

  1. Open your Litecoin wallet
  2. Press "exchange" in the bottom menu
  3. Press the open book icon in the "convert to" section and select your Monero wallet
  4. The cost of transaction is about 0.000007 Litecoin - that's 5 zeros and a 7. Use a calculator to take your total Litecoin balance and subtract the transaction cost from it.
  5. Enter the result to the "convert from" section and press the "exchange" button.
  6. Write down the transaction number. This is just in case if something goes wrong.
  7. Confirm everything else, and you're done! It'll take a while for the transaction to complete. Mine were done in less than 30 minutes.

Send Monero to the HRT supplier:

Press "send" in the bottom menu and enter the amount. Note that you will be charged a very small transaction fee (0.01 €) that you need to add to the amount sent.


8. Learn more about web3

If all of this has sparked your interest in crypto stuff, the next step would be to look into getting your own crypto wallet. (You may already have a Cake Wallet from the previous section, but there are other wallets that allow you to do a lot more.)

A wallet allows you to actually be in 100% control of your currency because while it is on Kraken (or any other centralized exchange like Binance or Coinbase) it's technically still on their servers and can, in theory and under some extreme conditions, be frozen or seized by the centralized exchange or your government.

To learn more about web3, you can watch this video: What is Web 3.0? (Explained with Animations)


9. Additional notes

  • Your town may be able to find a so called "crypto ATM" which allows you to buy by inserting physical cash. However, the ATM in my town now requires KYC to use as well, and this seems to be the general trend. We have one report of no KYC ATMs in Austria.
  • A website called Local Monero allows you to buy Monero without KYC and directly from other providers. However, Local Monero is just a marketplace for providers. It requires no KYC by itself, but individual providers might do so. In fact, as a rule, buying Monero from providers that require no KYC is a lot more expensive.
  • You can buy directly from the Cake Wallet app, which will redirect you to Moonpay.
  • It's better to buy Monero on Kraken than Binance as Binance has been proven to, in past, sell "paper Monero" that you can't take off their platform.
  • Companies like Venmo, Fidelity, and Paypal can now be used to buy crypto, but they tend to be very user unfriendly, and users especially report having issues with withdrawal or withdrawal being impossible.
Edit

Pub: 01 Nov 2023 23:13 UTC

Views: 233