GRcade

pjbetman wrote:Bit of a noob question. I've set up a Litecoin wallet (Litecoin Core) and was going to transfer my coinbase LTC to it. Now I've done a couple of test transfers for 0.001LTC to test it and it works. However, my balance in Coinbase goes down. Is that right? Should it not still show the full amount that I have?

Coinbase is an exchange and wallet, if you send your coins from there to another wallet the balance will drop, think of a wallet as a bank account.

Holpil wrote:You can withdraw to a wallet via GDAX (Coinbase's trading platform) for free. If you have a verified Coinbase account and login to GDAX you should already be verified.

Now that it's in your wallet, if you transfer again you'll be able to choose a more reasonable fee. I usually follow this, choose the current median fee and get confirmations within an hour or so: https://bitcoinfees.earn.com/

Thanks wasn't aware of that such a learning curve but hopefully worth it.

Will GDAX allow and GBP funds in my Coin Base account to go back to my bank?

Sold some profit from LTC thinking from Coin Base it can go to my debit card that I used to purchase but now I've got my things to do with regards foreign money transfers to verify my bank account.

Thanks all for your answers which I've read. I set up an account with Coinbase, added Google authentication and bought some Bitcoin to test. Fees are more than I thought. Money is currently held online. I watched a few vids, CEO of Coinbase being interviewed, the company seems legit. He says that there is a lot of development of app type additions for Ethereum which tech wise is more advanced than Bitcoin, hinting that it has the potential to become a major currency.

If you want to invest more money you need a bank account that can make SEPA payments. Can any ordinary UK account do this or only special accounts?

Coinbase has been going for yonks so yeah it is safe, them and blockchain.info are good "cloud" wallets.

Take a look at localbitcoins it is a site that lets you buy and sell using PayPal etc so no need for sepa shizz and you can then transfer to your coinbase or whatever wallet from there.

Another option is Revolut, which is basically a current account you can get setup within a few minutes. Revolut don't charge a fee for SEPA payments (Natwest charges £10), and you get a preferential Euro to £ rate when you sell, rather than whatever your bank decides to take.

Trying to buy more ripple but cryptomate hasnt been finding any vendors for days now

Holpil wrote:Another option is Revolut, which is basically a current account you can get setup within a few minutes. Revolut don't charge a fee for SEPA payments (Natwest charges £10), and you get a preferential Euro to £ rate when you sell, rather than whatever your bank decides to take.

Thanks for that!

I bought some Bitcoin yesterday to learn how it all works. Then saw the price wobble so I sold most of it today. An easy loss!

Venom wrote:I bought some Bitcoin yesterday to learn how it all works. Then saw the price wobble so I sold most of it today. An easy loss!

I think the key is to buy and hold for ages

Made 50% profit so far on ETH. shame I didn't buy more but been new to all this aired on the side of caution.

Holpil wrote:
Ripple can be bought from exchanges like Binance easily without further verification. Just use Coinbase to buy Ethereum (quicker transaction/lower fee compared to BTC), transfer to your Binance account and buy XRP. Once bought you can transfer to your own wallet.

I wouldn't recommend leaving any currency on exchanges long term, download a wallet for your PC, or if you're looking to hold multiple currencies then pick up a Ledger Nano which supports a ton of cryptos.

So you can use GBP to buy Bitcoin to buy Etherium then transfer to Binance. Isn't the changing of currencies not cost effective because of costs? Do Binance have an online wallet - i'd only use temporarily until I have a couple of days off to make an offline one. Is there an easier way to buy Ripple?

Slayerx wrote:Made 50% profit so far on ETH. shame I didn't buy more but been new to all this aired on the side of caution.

Yeah, it's climbing nicely - i.e. fast!

I'm approaching 100% up on ETH.

Made about £500 on BTC then sold most of it. Might get back into it if it drops into €14k region again.

Also, got a few hundred LTC - doubled my money on that.

Branched out into Ripple, and Xtrabytes (XBY) with just a small <£100 investment. They're currently less than £1 each. Worth a little gamble I think.

Bitcoin has dropped below what I paid on Dec 11th!

Also you can now by Bitcoin Cash on Coin Base.

Sold my Bitcoin Cash last night on the price rally and woke up to it being available on Coinbase two weeks earlier than they'd advertised.

What really gets me is that they themselves said they would initially allow only withdrawals of BCH for people who had BTC on Coinbase in August this year and not trading. I sold under that presumption because naturally people would start selling their BCH, but I should have realised that wouldn't be the case as just because you buy from Coinbase doesn't mean it's 1:1 and they have the equal amount of coins to withdraw. If everyone logged on and withdrew the BCH to their own wallets rather than selling then there just wouldn't be the liquidity there to provide it.

pjbetman wrote:...and Xtrabytes (XBY) with just a small <£100 investment. They're currently less than £1 each. Worth a little gamble I think.

What made you buy into Xtrabytes? I like the fact they're taking the community approach rather than an ICO, but on their roadmap they're a long way off the services that seem to have any utility at all.

Holpil wrote:Sold my Bitcoin Cash last night on the price rally and woke up to it being available on Coinbase two weeks earlier than they'd advertised.

What really gets me is that they themselves said they would initially allow only withdrawals of BCH for people who had BTC on Coinbase in August this year and not trading. I sold under that presumption because naturally people would start selling their BCH, but I should have realised that wouldn't be the case as just because you buy from Coinbase doesn't mean it's 1:1 and they have the equal amount of coins to withdraw. If everyone logged on and withdrew the BCH to their own wallets rather than selling then there just wouldn't be the liquidity there to provide it.

That's annoying given today's performance with nearly 60% gains!

They haven't setup alerts on the app yet for BCH which is annoying.

Word of warning having issues with my wallet provider Jaxx as my BTC amount reduced when they had technical issues.

There looking into it but it's been a few days now and should I of wanted to move and sell etc then the delay would of cost me money due BTC dropping to around 11k in the last 24 hours.

Slayerx wrote:

Holpil wrote:Sold my Bitcoin Cash last night on the price rally and woke up to it being available on Coinbase two weeks earlier than they'd advertised.

What really gets me is that they themselves said they would initially allow only withdrawals of BCH for people who had BTC on Coinbase in August this year and not trading. I sold under that presumption because naturally people would start selling their BCH, but I should have realised that wouldn't be the case as just because you buy from Coinbase doesn't mean it's 1:1 and they have the equal amount of coins to withdraw. If everyone logged on and withdrew the BCH to their own wallets rather than selling then there just wouldn't be the liquidity there to provide it.

That's annoying given today's performance with nearly 60% gains!

They haven't setup alerts on the app yet for BCH which is annoying.

Word of warning having issues with my wallet provider Jaxx as my BTC amount reduced when they had technical issues.

There looking into it but it's been a few days now and should I of wanted to move and sell etc then the delay would of cost me money due BTC dropping to around 11k in the last 24 hours.

Well the BCH was free, and I got a decent price but maybe missed out on about £500, however terrible of Coinbase and shows the amount of insider trading going on within their company.

That's odd with Jaxx, looks like it's not the first time that's happened from googling it. Long term I really would recommend a Ledger if you start seeing a good return to justify it.

I really can't predict how it's going to go with BCH from 5PM today when trading opens on Coinbase. Is it going to rally with buyers wanting in on something that sounds like Bitcoin but is a lot cheaper, or is all of the extra BCH that Coinbase users are entitled to going to flood the market and get sold? Probably a bit of both.

Well Coinbase has crashed!

They are all dropping to quite low at the moment. Might be a good time to buy some more?