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Withdrawing money from Coinbase

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

  1. Fairly sure the answer is no

    Sgarrista

    Joined: Feb 12, 2006

    Posts: 8,983

    Location: Surrey

    What's the alternative though?
     
  2. kindai

    Soldato

    Joined: Aug 9, 2013

    Posts: 5,273

    Location: Bromsgrove

    **** knows but im so ****** I might slam them into court for consequential losses.

    I cant tell you how livid I am right now, after going through all their verification and ********, theyre happy to take my payment instantly, happy to take their fee, but refuse to release my bitcoins without a 72 hour delay.
     
  3. Narj

    Capodecina

    Joined: Feb 19, 2010

    Posts: 11,569

    Location: London

    Yeah it seems the best thing to do after buying from coinbase is to move your coins elsewhere as they are a nightmare. There were delays sending ETH yesterday as well. Something to do with degraded service.

    Has anyone successfully sent Euro from coinbase back to Revolut?
     
  4. Narj

    Capodecina

    Joined: Feb 19, 2010

    Posts: 11,569

    Location: London

    First post - sounds legit!
     
  5. DAIR

    Sgarrista

    Joined: Jul 23, 2009

    Posts: 8,423

    Location: Wales

    Lol
     
  6. mikedigitales

    Hitman

    Joined: Sep 7, 2012

    Posts: 656

    Location: UK

    Just lol... Sign me up!
     
  7. Pablo16

    Associate

    Joined: Dec 6, 2017

    Posts: 1

    Right guys.... so i have a coinbase account tried withdrawing some money today.... £25 to test out. I clicked sell then to gbp wallet after a £1.50 fee the money sits in my gbp wallet on coinbase. my only option from there is to withdraw.... to do this I need to add a bank account, again this needs to be activated my sending some euros from my bank tsb to them! there is a £10 fee for this... my question is ... is the money in my coinbase wallet stuck there now unless i withdraw it? Ta
     
  8. darkgen

    Wise Guy

    Joined: Mar 8, 2005

    Posts: 2,135

    Location: London, UK

    Would be interested to know also. I have a blockchain and coinbase (and gdax by dint of coinbase) account with only a very small litter of btc and ltc. Getting money in is easy but how you get it out without incurring significant fees/conversations is the difficulty. I'm not looking to withdraw currently but there has to be an easier way to manage wallets/exchanges than this!
     
  9. Narj

    Capodecina

    Joined: Feb 19, 2010

    Posts: 11,569

    Location: London

    I have a bad feeling you still can't withdraw GBP to a bank account... May have to be euros.
     
  10. Fairly sure the answer is no

    Sgarrista

    Joined: Feb 12, 2006

    Posts: 8,983

    Location: Surrey

    Which I assume would mean buying something in gbp to then instantly sell in euro, to then transfer out?
     
  11. Narj

    Capodecina

    Joined: Feb 19, 2010

    Posts: 11,569

    Location: London

    Something very funny going on with coinbase at the moment... can't sell anything so I just transferred what little I have there off to another exchange.

    ^ Yeah essentially they burn you - I don't see any point in a GBP wallet if you can't withdraw from it. I've just tested the EUR wallet to Revolut with a few euros - I'll update if it works!

    I'l be surprised if there isn't a class action against Coinbase at some point given some of their borderline shady practices.
     
    Last edited: Dec 7, 2017
  12. darkgen

    Wise Guy

    Joined: Mar 8, 2005

    Posts: 2,135

    Location: London, UK

    So what's the consensus here. Always trade in Euros? If so; what's the standard affair here to keep costs down?

    1.Deposit to Revolut.
    2.Convert to Euro. * (Or simply topup from UK bank to Euro directly?)
    3.Withdraw to an exchange (which one is best for simpletons like me that just want to dabble in btc and ltc as trying to get to grips with the abundance of cryptocoin makes my bat weep)? I currently have accounts with Blockchain, Coinbase (and GDAX).
    4.Buy/Sell/Cry.
    5.Withdraw to Revolut.
    6.Convert back to GBP.
    7.Withdraw to bank.

    EDIT - So I've come to the conclusion Coinbase is a pain. Looks like I can deposit Euros in but can only buy coin in GBP! Aaaaargh. Shoulda stayed in bed.
     
    Last edited: Dec 7, 2017
  13. bignev72

    Wise Guy

    Joined: Mar 22, 2012

    Posts: 1,077

    Just wanted to say thanks for this. It's helped me out massively :)
     
  14. richgibbard

    Associate

    Joined: Dec 7, 2017

    Posts: 1

    Hi, I’ve got my coins stuck in the EUR account. I’ve deposited some Euros via a SEPA transfer which is showing in my transactions. However, it still won’t let me withdraw - and says that I still need to verify the account by depositing into it. Anyone else had this problem?
     
  15. kindai

    Soldato

    Joined: Aug 9, 2013

    Posts: 5,273

    Location: Bromsgrove

    Yup, ended up transferring off after several threatening emails today and them lifting the blocks on my account
     
  16. Narj

    Capodecina

    Joined: Feb 19, 2010

    Posts: 11,569

    Location: London

    Just got my small transfer in EUR from coinbase to Revolut. So that's 2 days basically. I would test the water with a small amount first then go for several tranches. Still would feel uneasy about sending large amounts in one go given their tendency to go offline.
     
  17. MaX_PoWah

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 1,931

    Location: Sheffield

    I am having a right mare’ here can anyone help? It’s on Coinbase

    I had £1k GBP in my account which I bought the equivalent value bitcoin around the first week of November.

    I then sold half when it reached £9,500.00 and halved it again when it reached £14,300.00

    This left me with about £1600 in GBP and 0.04 bitcoins left (portfolio value of around £2,300)

    I then tried to transfer some money out and quickly came across the issue that you can only transfer out in euros. It also wouldn’t verify the IBAN and BIC for my Halifax account?

    I thought well what I will do is buy fully in again at around £11,500 (when it dipped) and then sell again when it went up again a bit which it did so at £12k I sold all apart from 0.04 bitcoins but this time into euros..

    This is where the problems started as now the sale transaction is stuck in limbo. It says I should have received the euros yesterday evening but they still haven’t showed up... is this because I haven’t verified my Euro wallet?
     
  18. Maccy

    Commissario

    Joined: Nov 23, 2004

    Posts: 33,604

    Location: Back in Blighty

    So it looks like the general consensus is to get a Revolut account?
     
  19. Narj

    Capodecina

    Joined: Feb 19, 2010

    Posts: 11,569

    Location: London

    My Halifax account never verified for some reason, Revolut was fine.
     
  20. MaX_PoWah

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 1,931

    Location: Sheffield

    This is so annoying

    So revolut are blocking transfers to Coinbase for some reason

    I can’t get money into my euro wallet so it can receive the sale of bitcoins into euros