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For occasional cryptocoin use: coinbase, or...?
raindog308
Administrator, Veteran
in Help
I occasionally want to buy something with cryptocoins, but I don't regularly hold them. Bitcoin and perhaps Ethereum in the future as one vendor prefers it.
I've been using Coinbase...should I stick with them or is there something better?
Comments
Ive only ever used the following
https://www.btcmarkets.net/
https://www.coinspot.com.au/ (Cause Australia :P )
I don't know much about cryptocoin exchange company but unless there is a very good reason to move out of certain exchange, I would prefer to stick with what I have. I don't want to send my ID and a mugshot just to join another exchange.
Gdax (owned by coinbase, just login with your coinbase account). No trading fees on limit orders - and coins you purchase can be sent out with no BTC transaction fee.
Depending on what you're buying, don't pay for it directly from your coinbase/gdax wallets. They've shutdown accounts that have sent payments to an address tied to a questionable site/company/person - and I believe they've done it retroactively as well. Best to send to your own wallet immediately after purchasing, then do with it what you want from there.
I'm done with Coinbase. They locked my account for some reason and
they can't tell me why
they haven't answered emails in over a week
when I called their 1-800 the woman I spoke with said she had no idea what the problem was and "maybe you should just open another account" (i laughed at this - can you imagine a real bank saying that?)
when I opened a new account it was immediately blocked
This for someone who's put maybe $50 into Coinbase in grand total and only ever sent to private individuals, and used his easily-verifiable real name and info to boot.
Well that was a profitless hour. All I want to do is buy about $50 in bitcoin with a credit card, which is apparently impossible these days.
Coinbase: disqualified for cluelessness
BTC Markets: Australians only
CoinSpot: Australians only
CoinMama: apparently a scam, as they ask for all kinds of personal information only to then inform you they don't offer services in your area.
Bitaccess: Canada only
Canadian Bitcoins: Canada only
Quadriga: Canada only
QuickBT: Canada only
Gemini: looks like a freakin' brokerage. And they don't take cards.
Cex.io: Charges $4.99 + percentage PER TRANSACTION. Frack that.
Itbit: "Open Trading Account"...I don't want to trade you fools.
Bitstamp: most of their docs linked back to the login page. I want my questions answered before you harvest my email, fools.
Kraken: no cards
lather rise repeat for a half dozen others.
I'd really rather not link my main account, so I suppose I'll have to go open a separate bank account. Boy this Bitcoin stuff is sure liberating.
https://cryptomate.co.uk/
I can't vouch or say much, I found them after digging around for solutions regarding monero. Looks like they only accept UK bank transfers though.
Bitpanda?
@raindog308 The one time that Canada has better options than the US!
(QuadrigaCX has instant transfers between my bank and their site lol)
Europe only - can't even register without specifying a EU country.
Yep, UK bank accounts only.
If you're really in need I can send you BTC at cost for PayPal Family+Friends. I have a bunch and can spare some.
Ditto. $50 is not much after all.
But if you COULD use Coinbase, I'd say stick with them. Sure they charge a sizable percentage on every transaction, but it's really not much worse than using your CC abroad. Does anyone else see the irony in that?
I'm amazed if it's ever been possible, given the possibility of chargebacks and fraud. At minimum I'd expect it to be processed as a cash advance rather than as a purchase. I don't know if it's ever possible to do cash advances online. It might be easier with a debit card.
Maybe you could ask r/bitcoin on reddit for advice?
Im with Blockchain
I buy from Luno & instantly move my BTC to Blockchain.
Not working with large amounts, so I couldn't be bothered to save 1% more somewhere less convenient.
@raindog308 Didn't see Square's Cash App on your list: https://squareup.com/help/us/en/article/6307-getting-started-with-bitcoin-in-cash-app
You should look again into Bitstamp. They are really solid, great service and their average price is one of the cheapest. If it's to buy use Bitstamp. To sell use GDAX.
You'll need to be ID-verified, thank all the scammers for that one.