1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Withdrawing money from Coinbase

Discussion in 'Crypto Currency & Mining' started by Rossuk89, Aug 22, 2017.

  1. Minusorange

    Hitman

    Joined: Nov 25, 2005

    Posts: 755

    hmmm found this on reddit, not sure if true or not

    Also there's CEX.io, has anybody any experience of using these ?

    Seems better option than coinbase for CC users
     
  2. Hanaanq95

    Associate

    Joined: Dec 3, 2017

    Posts: 1

    So I put £300 into Coinbase and I just want it back already :'( for a SEPA payment do you need a business account, and even if I sent one will it actually work? Using Coinbase has been nothing but a nightmare, anyone got any info of trying to withdraw or other methods please help. I tried local bitcoin but I only have like 0.03BTC
     
  3. Quinnaay

    Soldato

    Joined: Mar 10, 2013

    Posts: 5,033

    Location: Rotherham

    i sent a SEPA payment via First direct who are part of HSBC. Does this mean they wont accept money back in to my account when it comes to withdraw from coinbase?
     
  4. Quinnaay

    Soldato

    Joined: Mar 10, 2013

    Posts: 5,033

    Location: Rotherham

    just been reading to withdraw it to a revolut account convert to GBP then send to bank account.
     
  5. Ava 21

    Associate

    Joined: Dec 2, 2017

    Posts: 5

    Just seems a lot of messing around to me. Im cutting my losses!! Im glad I tested the water. Glad I didn't buy a bitcoin.
    Its so frustrating because they are more than happy to take payment as quick as lightning...
    Im ranting on lol no more wasting time on coinbase.
     
  6. Henfrola

    Associate

    Joined: Dec 3, 2017

    Posts: 3

    Ok I’ve just read this whole thread and I’m massively confused. It appears after researching in the wrong places I’ve got caught up in Coinbase. Stupidly I bought a fair bit of cryptocurrency and the same as everyone else want to withdraw but come to a stop as it asks to deposit more money via SEPA before I can withdrawal my original funds. TSB Only seem to allow SEPA Transfers if you have a business account.

    I saw people saying to transfer it to another wallet. Which one should I do and how do I do it? Please bare in mind that I need this explained in simple terms as already burned my brain trying to research getting my money back :(
     
  7. andicole0

    Mobster

    Joined: Sep 12, 2005

    Posts: 4,873

    Location: Robertsbridge

    I would open another bank account with may be Nat West, they seem to be the cheapest and easiest to do a Sepa transfer. You only need to do one Sepa transfer for security reasons.
    Andi.
     
  8. Frozennova

    Man of Honour

    Joined: Nov 13, 2009

    Posts: 9,825

    Location: Northampton

    Just send it to LocalBitCoins and sell it to someone there via Bank Transfer
     
  9. Henfrola

    Associate

    Joined: Dec 3, 2017

    Posts: 3

    How do I move it to LocalBitCoin? Every time I go to link an account it’s saying ‘Too many requests’ and blocks me out.

    I have just set up a SEPA with TSB but it’s cost me £15 to send £5. Joke! I just want to take it all out now.
     
  10. andicole0

    Mobster

    Joined: Sep 12, 2005

    Posts: 4,873

    Location: Robertsbridge

    First rule of cryptocurrency should be Patience
    Andi.
     
  11. Henfrola

    Associate

    Joined: Dec 3, 2017

    Posts: 3

    Just panicking . Everyone wants easy access to withdrawing their funds I guess. I will sit and wait it out.
     
  12. EssexBoy

    Gangster

    Joined: Jun 13, 2013

    Posts: 365

    Location: Essex/East London

    Say you have some coins and want to sell it on coinbase on the pump can you leave the usd on the account and buy back on the dips with the usd from the sold coins before?
     
  13. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 36,515

    Location: Aberdeenshire

    Yes.
     
  14. EssexBoy

    Gangster

    Joined: Jun 13, 2013

    Posts: 365

    Location: Essex/East London

    ty exactly what i wanted to hear before selling.eth and btc up and down at the mo
     
  15. Fairly sure the answer is no

    Sgarrista

    Joined: Feb 12, 2006

    Posts: 8,551

    Location: Surrey

    Just to make sure I'm clear. Through coinbase, or any other app people suggest, let's say I have £250 worth of coin, if I sell this when the value is high, to then rebuy when it's low, there aren't any costs for this? It's just the withdrawing that costs money and adding funds if through a card?

    Let's say you had £4k to use on bitcoin. How would you suggest buying it?
     
  16. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 36,515

    Location: Aberdeenshire

    It’s the SEPA bank costs that people are complaining about. If you’re being charged £15 a time to transfer to/from Coinbase’s bank account if you’re only buying £20 of Bitcoin it’s not great value. £4K though the SEPA cost becomes insignificant and you’ll probably get a better deal than LBC.

    Small sums tend to be better on LBC.
     
  17. Maccy

    Commissario

    Joined: Nov 23, 2004

    Posts: 31,919

    Location: Herts

    Coinbase charge £2.99 per buy/sell (I think that's the fee anyway)
     
  18. James 3.142

    Gangster

    Joined: Aug 25, 2017

    Posts: 305

    For coinbase the flat rate fee is too expensive for trading unless you are dealing with large amounts. You should switch to gdax (part of coinbase so you don't need to setup another account).

    In gdax to get free trading you must setup a market order and wait for it to get filled or you will pay fees.

    i.e. when buying you need to put up an order to buy bitcoin below the lowest sell order and when selling you need to setup a sell order above the highest buy order. Otherwise it will be instantly matched and you will pay .25% commission.

    That's how you get free trading, but even 0.25% commission is still low enough to trade with bitcoin.
     
  19. H2F Scott

    Mobster

    Joined: Sep 15, 2006

    Posts: 4,541

    Location: Liverpool

    Got 500+ in Coinbase. Wanting to get it into my bank ASAP. What's the quickest possible way? Cheers.
     
  20. kindai

    Mobster

    Joined: Aug 9, 2013

    Posts: 4,361

    Location: Bromsgrove

    I'm so done with coinbase.

    Went to make a withdrawal tonight form BTC to Binance and, 72 hour hold.

    Are you ******* kidding me?

    How many times are they gonna hold my coins.
     


Share This Page