Coinbase

12
Posted 22nd MarEdited by:"adamey19"
If you have used coinbase, how has your experience been? if this is good, is there any alternative I should look into?

Also, reading the website, you can add money to the wallet from debit or credit card. When adding money from credit card, does it withdraw the cash or make it look like it was spent, so that you don't get charged withdrawal/transferal fee from the credit card company.
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Coin base has been fine for me. No issues. Not withdrawn anything as I am hodl my coins. It is seen as a transaction not a withdrawal
MonkeyMan9022/03/2020 22:31

Coin base has been fine for me. No issues. Not withdrawn anything as I am …Coin base has been fine for me. No issues. Not withdrawn anything as I am hodl my coins. It is seen as a transaction not a withdrawal


So when I add money from credit card, I won't get charged fee and have you tried using cashback credit cards, interested in knowing if you get cashback when adding money to coinbase.

Would have answered all my questions, if you had made a withdrawal as well :). I probably be taking my money in and out.
Edited by: "adamey19" 22nd Mar
Yeah coinbase have been fine with me. I have withdrawn funds, transferred to other wallets etc.
ArcadeAssassin22/03/2020 22:36

Yeah coinbase have been fine with me. I have withdrawn funds, transferred …Yeah coinbase have been fine with me. I have withdrawn funds, transferred to other wallets etc.


Do they charge fee when you trade, take out money or add money or all of them?
adamey1922/03/2020 22:36

So when I add money from credit card, I won't get charged fee and have you …So when I add money from credit card, I won't get charged fee and have you tried using cashback credit cards, interested in knowing if you get cashback when adding money to coinbase.Would have answered all my questions, if you had made a withdrawal as well :). I probably be taking my money in and out.


I only used a debit card so unfortunately I can't answer that.
MonkeyMan9022/03/2020 22:38

I only used a debit card so unfortunately I can't answer that.


I thought you use credit card to add money, my mistake.
Edited by: "adamey19" 22nd Mar
adamey1922/03/2020 22:38

Do they charge fee when you trade, take out money or add money or all of …Do they charge fee when you trade, take out money or add money or all of them?


Yes but it varies per currency and amount and what phase the moon is in etc. But you can transfer between currency for free, ie change some bitcoin for litecoin for example won’t cost you. But any other transaction will.
adamey1922/03/2020 22:38

Do they charge fee when you trade, take out money or add money or all of …Do they charge fee when you trade, take out money or add money or all of them?


When you trade crypto, or exchange for cash they charge a small fee yes, But you can can withdraw directly to paypal which is instant
They charge a higher fee for funding with a credit card. I’ve linked my bank account and you can fund via bank transfer.

Would not recommend d funding a crypto with a CC. The card provide is also likely to charge you as if it was a cash transaction. The fees they charge would soon add up.

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help.coinbase.com/en/…tml
Edited by: "Oneday77" 23rd Mar
Oneday7723/03/2020 06:47

They charge a higher fee for funding with a credit card. I’ve linked my b …They charge a higher fee for funding with a credit card. I’ve linked my bank account and you can fund via bank transfer. Would not recommend d funding a crypto with a CC. The card provide is also likely to charge you as if it was a cash transaction. The fees they charge would soon add up.[Image] https://help.coinbase.com/en/coinbase/trading-and-funding/pricing-and-fees/fees.html



max8422/03/2020 22:44

When you trade crypto, or exchange for cash they charge a small fee yes, …When you trade crypto, or exchange for cash they charge a small fee yes, But you can can withdraw directly to paypal which is instant



ArcadeAssassin22/03/2020 22:44

Yes but it varies per currency and amount and what phase the moon is in …Yes but it varies per currency and amount and what phase the moon is in etc. But you can transfer between currency for free, ie change some bitcoin for litecoin for example won’t cost you. But any other transaction will.



max8422/03/2020 22:44

When you trade crypto, or exchange for cash they charge a small fee yes, …When you trade crypto, or exchange for cash they charge a small fee yes, But you can can withdraw directly to paypal which is instant


Hi guys, I been reading about coinbase and people have suggested that you shouldn't keep fiat in coinbase and once you done trading, you should put back fiat (pound) to you bank account. but I was thinking if you doing trades say every other day or week, doesn't taking and putting money in your debit card look specious or would raise any alerts with the bank.

What has your experience been in this?

Say if I want to do trades every other day should I keep take out my pounds from coinbase and then put them back or leave them there - also, coinbase protects upto $250k in usa, is there similar in uk?

Are you guys using coinbase or coinbase pro - any tips on either?
Edited by: "adamey19" 30th Mar
adamey1930/03/2020 10:48

Hi guys, I been reading about coinbase and people have suggested that you …Hi guys, I been reading about coinbase and people have suggested that you shouldn't keep fiat in coinbase and once you done trading, you should put back fiat (pound) to you bank account. but I was thinking if you doing trades say every other day or week, doesn't taking and putting money in your debit card look specious or would raise any alerts with the bank. What has your experience been in this?Say if I want to do trades every other day should I keep take out my pounds from coinbase and then put them back or leave them there - also, coinbase protects upto $250k in usa, is there similar in uk?Are you guys using coinbase or coinbase pro - any tips on either?



Ive been using coinbase for two years, initially when you had to do a European Bank transfer to a bank in Latvia i think it was as they didn't have a UK banking license. We then went through the period where UK banks were closing accounts of those who invested in Crypto, although this was a lot less of an issue than the media would have you believe. Then we went through their scaling issues where, if BTC went up everyone would try and take their money out so they would freeze the app. None of these issues have been present for over a year in my experience and i leave funds in the coinbase account with no issue. Both FIAT and Crypto.

If you are really worried about things then only invest what you can loose and if you are worried about your crypto itself, then withdraw it to your own personal physical ledger.

I however am happy with the standard coinbase and it works fine for my needs.

PS - I invested £2000 during the rises 2 years ago and took some profit which i had a nice holiday with, and left the original investment in there. Its now worth just under £350 and is spread across 7 currencies. Like i say, invest what you are prepared to loose.
Edited by: "ArcadeAssassin" 30th Mar
ArcadeAssassin30/03/2020 11:43

Ive been using coinbase for two years, initially when you had to do a …Ive been using coinbase for two years, initially when you had to do a European Bank transfer to a bank in Latvia i think it was as they didn't have a UK banking license. We then went through the period where UK banks were closing accounts of those who invested in Crypto, although this was a lot less of an issue than the media would have you believe. Then we went through their scaling issues where, if BTC went up everyone would try and take their money out so they would freeze the app. None of these issues have been present for over a year in my experience and i leave funds in the coinbase account with no issue. Both FIAT and Crypto.If you are really worried about things then only invest what you can loose and if you are worried about your crypto itself, then withdraw it to your own personal physical ledger. I however am happy with the standard coinbase and it works fine for my needs.PS - I invested £2000 during the rises 2 years ago and took some profit which i had a nice holiday with, and left the original investment in there. Its now worth just under £350 and is spread across 7 currencies. Like i say, invest what you are prepared to loose.


Great, thanks for the insight.
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