Using Coinbase/bitcoin

[n3rd]

Just a quick heads up, if you need to have a quick turn around, cash → bitcoin and have funds readily available, use your debit card and NOT your bank account. 14 day hold if you use your bank account.

Directly from Coinbase Support : "Additionally, you can avoid crypto holds when you purchase using a debit card. Any purchases with a debit card will allow you the ability to sell and send immediately.

I emailed their support pissed off because of the 14 day hold. This is after I verified everything, bank account, drivers license… Their ‘level 3’ verification. SMH…
Lesson learned, hope someone can learn from my mistake.
Shit happens, I suppose.

 

[TG1]

Try Kraken. Even Gemini is better.

 

[Raphael3636]

Hey what do I search in Google play store to find Kraken ?

 

[TG1]

Nothing. Its an exchange not an app. Very well run exchange also.

 

[TG1]

Exchanges always give you best rates.

 

[TG1]

Coinbase is an exchange but they suck.

 

[Raphael3636]

Gotcha man, I found it, basically I can put my coins I get through kraken right in my mycelium wallet correct?

 

[TG1]

Yep

 

[GlycogenDepletion]

Personally, I’m fond of using coinbase to get USDC, then buying the bitcoin on a place like binance due to skipping the fees. Then I just convert it to monero and send it to my hardware wallet. Using the monerujo app with a vpn allows you to send monero to bitcoin addresses. Far more anonymous if you ask me.

 

[maintenance_guy]

Apparently “Cash App” now lets you buy and sell BTC. It’s actually super convenient at times - downloaded the app specifically for some of those features. Plus… they let you make that cool custom card. I’m a sucker for that type of thing. Yeah, but it is very practical. Anonymous, definitely not. Neither is Coinbase really. I also tend to just stay away from Coinbase and centralized exchanges because they’re beholden to the IRS.

 

[GlycogenDepletion]

Does Cash app actually let you send bitcoin now though? Last I checked it still just let you buy and sell only. You couldn’t actually withdraw or receive it. Certainly not something I’d use for security or anonymity though, although bitcoin in general isn’t very anonymous.

 

[Bigmurph6]

Btc lost its anonymity along time ago unless you take the proper steps to keep your anonymity.

 

[GlycogenDepletion]

Agreed in large part, although I’d argue it was only ever pseudonoymous at best. A fully visible public ledger was never a good idea for true anonymity or fungibility. Although it was the best that could be done initially and bitcoin has largely stuck due to being a household name now.

 

[woodwalker1889]

Are the rates high or about the same as most?

 

[Bigmurph6]

I actually don’t know I wanted to share the link for our EU brothers and sisters. I believe that it is built to use anywhere but it’s geared more towards Europe. The fees are probably higher for spending because of the convenience of using it anywhere but they probably sell to you at lower prices.

 

[woodwalker1889]

I’ll look into it always looking for something better.

 

[BANG]

THANX!!! 4 da wisdom about debit card purchases. I’m an idiot when it comes to Bitcoin so any enlighten is dramatically appreciated! TY Brother

 

[Onemorerep]

That does suck.everybody is going that way.seems a little confusing to use but I know eventually I have to go that route.

 

[n3rd]

Glad it helped man!

 

[woodwalker1889]

It is really nice to have instant access to funds. Worth the few dollars extra in fees.