So, I am very new to Bitcoin and slowly decided to save money and purchased over 1000$ of BTC. But soon after the bear market, crypto exchange got bankrupt, stopped its operations, locked our crypto. I learnt a lesson of having self-custodial or non-custodial wallets the hard way.
Now the company refunded some amount in USDC, which I currently transferred to my Phantom wallet.
After the advice of fellow stackers here, I made an Electrum wallet seed successfully but now I need help on how to transfer those USDC from Phantom wallet, incurring the lowest possible fee.
I want to really know safest way to do this so that I can HODL to BTC in my own way.
Plsss help
You will need to swap it for BTC. Have a look at Fixed Float or Trocador App.
Just send the entire amount and enter a BTC receive address from your Electrum wallet.
For some reason, while transferring to Fixed Float, the Phantom wallet shows insufficient funds error, which is not true since I have funds already in wallet? I am attaching the screenshot here.
Hmmm, I might guess that it's that you don't have any funds of whatever chain the USDC is on. You need some to be able to transfer it.
This is my guess what the issue is.
I think you are correct, since USDC in my Phantom wallet is on Etherium network, but my ETH balance is zero.
So my next step should be to fund my ETH balance on Phantom, but how can I do it without triggering any purchase from my debit card. I am in a new country and unsure if its safe to transfer money there.
You may not have enough funds to cover the transaction fee when making the transfer.
On Lnp2pbot, you can also exchange USDC for Lightning Bitcoin—it’s super easy and secure.
How will it help me in transferring to my Electrum wallet? Sorry for my dumb questions, I am still learning.