It can be a complex process attempting to buy into cryptocurrencies with fiat or convert cryptocurrencies back to fiat, or even converting one cryptocurrency to another. This means that users may pay more fees than necessary, or overpay when making these exchanges. This is where Arthur’s Cash In/Cash Out feature comes into play. This tool allows users to see the cheapest method for acquiring their funds, converting them to their desired currency, and then sending them to their final destination. It also allows you to find the best location to cash out your funds to net the highest amount of fiat possible.
Premium Use of Cash In/Cash Out
Users who have not purchased a “Plus” or “Pro” plan are limited to 10 uses of the Cash In feature and 10 uses of the Cash Out feature each month. Purchase of any subscription allows for unlimited use of both features. The number of uses remaining is displayed at the bottom of each of the cash in and cash out boxes.
Cash In/Out Features Overview
- Displays best purchase and cash out path for top currencies and exchanges by default
- Plug in specific exchanges, currencies, and amounts to see a personalized path report
- Add an amount of currency to purchase or sell and Arthur will take exchange fees, transfer, and withdrawal fees into account when determining the ideal path
- Fees for each step in the cash in/out process will be displayed alongside path suggestions
How can this be useful?
Users will often ask what is the best way to get funds into a coin. They want to know exchange fees and withdrawal fees and what route they can take to keep the most of their money when converting. Arthur’s Cash In/Cash Out feature takes the guesswork out of the equation. Arthur will tell you the cheapest route to get your funds where you want to go based on the exchanges you set as a preference.
Example: Converting USD into DROP tokens
- Purchase Bitcoin with $5,000 fiat on Kraken ($13 fee)
- Transfer from Kraken to Tidex ($3.76 fee)
- Purchase DROPs with Bitcoin on Tidex ($4.98 fee)
- Withdraw out of Tidex to external wallet ($5.11 fee) – optional step
Cash In/Cash Out Settings
From within the settings panel, users can adjust which exchanges and currencies they would like to be considered when they attempt to cash in or cash out. To make best use of this, users may want to consider selecting only exchanges they have accounts on or have used in the past to ensure transitions go as smoothly as possible. To confirm an exchange or currency is selected, make sure they have the orange checkmark next to them.