I am trying out different ways to obtain DFI. So

Question

I am trying out different ways to obtain DFI. So

far this works best for me. Buy LTC on preferred exchange -> send to Cake to wrap LTC -> send to Light Wallet -> swap dLTC for DFI in liquidity pool. Are there any obvious flaws in this process I am overlooking?

#blockchain #cryptocurrency #defichain #english

0

26.11.2021

5 ответов

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Ruben Автор вопроса

I can't withdraw from Bittrex for 14 days after making a deposit, and Kucoin does not support any of the deposit methods I would consider using. Also the math seemed to favor doing it this way since it is cheaper as well. But I wonder if I made an error somewhere or if other people do it like this as well?

0

26.11.2021

DanieL BaptistA

Ruben
I can't withdraw from Bittrex for 14 days after ma...

As for Bittrex is usual, you need to have a transaction history in the last 180 days to make withdrawals, also, you need to wait in fact a few days if you are new, as well as if you just enabled your withdraw feature

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26.11.2021

DanieL BaptistA

You are maybe using SEPA transfers no? If so, yes it will take a few days, its the drawback with SEPA transfers, usually 0 fee, but days to arrive. The best possibility indeed is credit card funding, but subject to fees. Really is a matter of considering those fees worthy or not, taken into account your final objective. Yes, USDT or Ethereum is too costly, the fees are absurd. As for BTC, its ok I would say, neverthless, I also almost only buy with instant buy feature

0

26.11.2021

Ruben Автор вопроса

DanieL BaptistA
You are maybe using SEPA transfers no? If so, yes ...

yes I am using SEPA transfers. I think you can get a decent deal with the instant buy feature if you wait 30 seconds for it to recalculate. It almost tricked me into buying high! If it were not for the 14 withdrawel lock I would probably buy DFI directly on Bittrex.

0

26.11.2021

DeFiChain_Bot · Accepted Answer

DeFiChain_Bot

For questions & discussion regarding Cake: https://t.me/CakeDeFi_EN

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26.11.2021

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I am trying out different ways to obtain DFI. So

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