The Cash In/Cash Out feature portion of the Arthur Assistant is a useful tool for traders with all levels of experience. This tool offers an easy method to find the cheapest route to convert your funds so that you can get them where you would like them to go. Read this article for an overview of the Cash In/Out feature.
From the “Cash In/Cash Out” page, users will see a path estimator for both cashing in and cashing out. Depending on your subscription level to Arthur, you may have as few as 10 uses of each per month, or an unlimited amount of uses for each side.
At the top of the “Cash In” box shows the best path out of all user selected exchanges to convert fiat into BTC, ETH, or LTC for quick reference. This is based on the price for each coin on their respective exchange, making sure that users get the most coin for their money.
Best Purchase Path
The Best Purchase Path Estimator is useful for getting your funds from point A to point B, and even to point C, as cheap as possible. First, select the type of coin you would like to purchase from the drop down menu. Next, select the target destination for your funds. This is where you would like your funds to end up. You can select an exchange or an external wallet. If your intention is to purchase DROP and move them to your portal wallet, you would select “External Wallet.”
After selecting the coin you would like to purchase and choosing a target destination, clicking the “Show Me the Way” button will bring up the optimal path for your purchase.
The path includes all fees associated with purchasing and transferring. In the example above, we see the conversion of $500 USDT on Binance to DROP tokens, with all fees marked in orange. The route selected in this example shows the following:
- Purchase BTC with USDT on Binance (Fee of $0.5)
- Withdraw BTC to Tidex (Fee of $3.77)
- Purchase DROP with BTC (Fee of $0.5)
- Withdraw from Tidex (Fee of $5.13)
This means that the optimal path to convert $500 to DROP will net 95,502 DROP with combined fee of $9.90 to get to an external wallet.
The “Cash Out” feature works in a similar fashion to “Cash In”. At the top are the best options to convert from BTC, ETH, or LTC to USD or USDT. Below that, users can enter the coin they want to cash out and select the current location of their coins. In this example, we have DROP in an external wallet and would like to cash out.
The route to convert DROP to fiat or fiat equivalent in this case routes the tokens through Tidex, and then to HitBTC to cash out.
- First, DROP should be moved from the external wallet to IDAX to be sold (N/A fees, $0 if from the Dropil portal wallet, fees vary from other external wallets)
- DROP are sold for ETH on IDAX (Fee of $1.02)
- ETH are withdrawn from IDAX (Fee of $4.26)
- ETH are then sold for USDT on HITBTC (Fee of $0.51)
This means that the optimal path to convert 95,502 DROP will net 503.22 USDT with total fees equaling $5.79.
Both the “Cash In” and “Cash Out” tools serve a very functional purpose when attempting to convert funds or buy into an investment. By using the Arthur to analyze these opportunities, users can save funds when cashing in and optimize their funds when cashing out. It can also be a useful tool when directing people how to purchase a coin or token, such as Dropil. If you refer a friend and they want to know the best route to buy DROP, even the free version of the Cash In/Cash Out tool will let them know the cheapest path toward acquiring DROP.