Business Coinbase fees buy and send - help needed

[Smack dat]

I am looking to get into altcoins more. I would like to buy small amounts of btc and ether from Coinbase and then send to poloniex/ hitbtc etc so I can buy coins.

I would be buying around $20-30 worth weekly.

Does anyone know the costs to buy small amounts and how much it would cost to send to another exchange?

Thanks in advance.

[TheDynasty]

I would wait until you could buy $100 to $200 worth at a time.

Coinbase fees have gone up considerably and it's not worth paying $10 on $20 and only getting $10 in coins. just my 2cents.

[jscott]

Coinbase charges 1.49% fee to buy, once that goes thru and you have BTC, you can send anywhere you want (Polo, Binance / HitBTC, Hitbtc has deposit fee now)

Then you can buy most popular alts at those exchanges, each of them have their make/taker fees too, i think usually between 0.1% - 0.25% fee per transaction

I would suggest checking out Gemini though, you can do the exact same thing with Gemini for 0.25% fee only, rather than Coinbase's 1.49%

[HomerSimpson]

Buying fees are not that problem...

For example if you want to spend $20 and buy BTC/LTC/ETH on Coinbase the fee is about $1.5




Problem will be transfer fees...

To transfer $20 from Coinbase to an exchange will cost you alone ~$15 and same amount to return that back one day to Coinbase in case you want to cash out... To do the same thing with Ethereum would cost you less than a $1...

So even if you want to do it with that low amount - my advice is not to buy Bitcoin... Instead buy Ethereum then to send it to exchange like Binance or HitBTC and there sell it for Bitcoins and then buy whatever you like. It will be a lot cheaper!

Here are the images proving my point:

Cost of sending BTC to Exchange:


Cost of sending ETH to Exchange:



Just my

[onwebcam]

Don't even bother with bitcoin. Buy eth you can buy anything else you want with it. Faster and cheaper.

[jscott]

I transferred my coins out of Gdax recently for free.

"In general, Coinbase does not charge a fee to use our Hosted Digital Currency Wallet service. Transfers of virtual currency to an address off the Coinbase platform may incur network transaction fees, such as bitcoin miner?s fees, which Coinbase may pass through to you. Any such transfer fees will be disclosed to you at the time of the transaction."

[jscott]

Originally Posted by onwebcam

Don't even bother with bitcoin

Btc is evolving, it was fast and free, now is fast or slow and sometimes expensive, and will eventually be using lightning. Buying bitcoin now during pre-Lightning is quite a lot better in terms of investment potential

Originally Posted by onwebcam

ETH Faster

what happened with crypto kitties?

[Smack dat]

Thanks for the great replies guys.
I will stay away from buying btc on Coinbase for now. As mentioned I will get ETH and then buy bitcoin elsewhere with it.

FTR I just bought £20 of ETH and it cost me £1.58 (£18.42 total ether received)
This was to buy and send to hitbtc. £1.49 to buy and 9p to send

The problem I have now is the delay from Coinbase sending the ETH. According to the support page there is a 12+ hour delay.

[onwebcam]

Originally Posted by jscott

what happened with crypto kitties?

Who cares, I'm running with the dog$. We just entered 7th.. It's been quite a race.

[onwebcam]

Originally Posted by Smack dat

Thanks for the great replies guys.
I will stay away from buying btc on Coinbase for now. As mentioned I will get ETH and then buy bitcoin elsewhere with it.

FTR I just bought £20 of ETH and it cost me £1.58 (£18.42 total ether received)
This was to buy and send to hitbtc. £1.49 to buy and 9p to send

The problem I have now is the delay from Coinbase sending the ETH. According to the support page there is a 12+ hour delay.

There's been around $130 billion added to the market cap in the last few days... Busy times.. But I would highly suggest finding another exchange. In addition to their coin prices being higher than market.. hitbtc is getting MANY complaints of missing deposits/coin etc. Some people are claiming a week without their coin showing up. Many suspect its about to go under...

[onwebcam]

Originally Posted by onwebcam

Who cares, I'm running with the dog$. We just entered 7th.. It's been quite a race.

Make that #6 now...

[beerptrol]

Originally Posted by Smack dat

Thanks for the great replies guys.
I will stay away from buying btc on Coinbase for now. As mentioned I will get ETH and then buy bitcoin elsewhere with it.

FTR I just bought £20 of ETH and it cost me £1.58 (£18.42 total ether received)
This was to buy and send to hitbtc. £1.49 to buy and 9p to send

The problem I have now is the delay from Coinbase sending the ETH. According to the support page there is a 12+ hour delay.

yep tried to transfer some ETH so i could by some trx before it went up, it took 12 hours for the ETH to transfer. Mean while TRX tripled from the initial price I was going to buy it. I was like aww shit.

[onwebcam]

Originally Posted by beerptrol

yep tried to transfer some ETH so i could by some trx before it went up, it took 12 hours for the ETH to transfer. Mean while TRX tripled from the initial price I was going to buy it. I was like aww shit.

Still a day or so before corn burn is official and large partnership announcement.. Buy what you can on the next dip.. It's now 5x what I figured it's potential was.. Depending on the burn there could be 5x in it's future.

[jscott]

Originally Posted by beerptrol

yep tried to transfer some ETH so i could by some trx before it went up, it took 12 hours for the ETH to transfer. Mean while TRX tripled from the initial price I was going to buy it. I was like aww shit.

I transferred in BTC to trade for TRX, tripled the investment within 10 hours, got back my initial BTC along with bunch of "free" TRX

... BTC ftw

[onwebcam]

Originally Posted by jscott

I transferred in BTC to trade for TRX, tripled the investment within 10 hours, got back my initial BTC along with bunch of "free" TRX

... BTC ftw

You'll be wishing you held.. If I wouldn't have pulled out my initial investment I'd be up 1500% in weeks. It's added around $1 billion an hour the past few hours... Literally crashing exchanges. How is bitcoin doin?

[jscott]

Originally Posted by onwebcam

You'll be wishing you held.. If I wouldn't have pulled out my initial investment I'd be up 1500%. It's adding around 1 billion an hour right now... How is bitcoin doin?

I don't mind tripling an investment in less than a day

[jscott]

Originally Posted by onwebcam

... How is bitcoin doin?

Bitcoin is fine, and has been for nearly 10 years

There'll always be pump and dumps in the crypto world, great use them as tools to build up the quality coins with long term value

[onwebcam]

Originally Posted by jscott

Bitcoin is fine, and has been for nearly 10 years

There'll always be pump and dumps in the crypto world, great use them as tools to build up the quality coins with long term value

Eventually you'll figure it out. As I mentioned earlier $130 billion added to the market cap in days and bitcoin has flat lined. The only reason it's staying afloat is because new comers think they have to buy it to buy alts..

[jscott]

^^ haha

u cant b 4 reelz

[onwebcam]

Originally Posted by jscott

^^ haha

u cant b 4 reelz

Keep on beating your energy draining dead horse. I'll run with my dogs.. If Sun does what I think he's going to do, watch out #2.. And on to #1....

[jscott]

haha ok ok, thanks man, enjoy your dogs

[beerptrol]

Originally Posted by onwebcam

Still a day or so before corn burn is official and large partnership announcement.. Buy what you can on the next dip.. It's now 5x what I figured it's potential was.. Depending on the burn there could be 5x in it's future.

I'm keeping my eye on it, meanwhile i used the funds to buy VEN at $2.34. Plus made sure i have extra eth already on the exchange wallet

[webgurl]

Originally Posted by onwebcam

There's been around $130 billion added to the market cap in the last few days... Busy times.. But I would highly suggest finding another exchange. In addition to their coin prices being higher than market.. hitbtc is getting MANY complaints of missing deposits/coin etc. Some people are claiming a week without their coin showing up. Many suspect its about to go under...

Who you referring to that might go under, Coinbase?

Please recommend where I could purchase Ethereum from a HK bank account in USD?

Thanks

[jscott]

Originally Posted by onwebcam

Make that #6 now...

hi i'd just like to know if you're still commentating pls. thank you

lol

[onwebcam]

Originally Posted by jscott

hi i'd just like to know if you're still commentating pls. thank you

lol

Your little gain happened on binance, it will shift back to alts. Look at what the #1 bitcoin trade is https://coinmarketcap.com/currencies/bitcoin/#markets

FYI I saw it begin and flipped my ether over to it as many did Now that it's retracting, back to ether.. Get that #1 trade that has held stable since the rise..

[jscott]

Originally Posted by onwebcam

Your little gain happened on binance, it will shift to alts.

^^ This man knows the future folks, how original

[jscott]

Btw to compare BTC to a penny stock-type shitcoin should not even be discussed.

Look at Dogecoin, $1bill market cap from a coin that hasn't had software updates in 2 years.

Whatever they case, they are in different walks of life.

[jscott]

Originally Posted by webgurl

Who you referring to that might go under, Coinbase?

Please recommend where I could purchase Ethereum from a HK bank account in USD?

Thanks

Hey Lizzy i'm pretty sure he was referring to Hitbtc as "about to go under".

Hitbtc has some account balances displaying issues, tons of complainers who dont wait for ETH or Xrp network congestions or withdraw approvals due to a freakish high volume, I personally couldn't imagine Hitbtc going under , but again, who really knows anymore in this game, very volatile numbers, fast moving situations all around.

[onwebcam]

Originally Posted by jscott

Btw to compare BTC to a penny stock-type shitcoin should not even be discussed.

Look at Dogecoin, $1bill market cap from a coin that hasn't had software updates in 2 years.

Whatever they case, they are in different walks of life.

Comparing dogecoin to Tron will cost you a fortune in the long run..

[beerptrol]

Originally Posted by jscott

Btw to compare BTC to a penny stock-type shitcoin should not even be discussed.

Look at Dogecoin, $1bill market cap from a coin that hasn't had software updates in 2 years.

Whatever they case, they are in different walks of life.

The smaller "shitcoins" is where you can make the most money. I bought 1 mill SOON coins for 355 now its worth 240k and climbing

[jscott]

I agree, a penny (no matter if quality or shitcoin) is easier to double/triple/quadruple/etc than a $16k bitcoin or $1k ETH

But imo nothing has longevity potential as great as BTC or the top few coins. So imo using these penny coins as tool for building BTC/ETH/LTC/XMR is great idea, just make sure to get out before the dumps

[halfpint]

I would wait until the lightning blockchain has been realeased That will be a lot faster and also supposed to be cheaper transaction fees

[jscott]

This thread is perfect example of many things ......

1. never trade BTC for fly-by-night shitcoins (sure you can make nice profits by trading others, but only a handful of solids have proven worthy for longer term)

2. for margin traders, never short bitcoin (proof is in the 5+ year graphs, consistent)

3. never take financial advices from anyone at GFY

[HomerSimpson]

Originally Posted by jscott

This thread is perfect example of many things ......

3. never take financial advices from anyone at GFY

Including jscott

Here's are two examples coins I bought 6 months ago that were outperformed Bitcoin (picture is screenshot from my portfolio at cryptocompare)


So, you can buy Bitcoins and it may double or triple it's value by the end of this year...
(it's hard to imagine that bitcoin will rise 13x this year again to ~169k)
or you can play around with some altcoins and multiply your investment...

It's all up to you..

I'll post this great picture again and tell me what lane would you rather be in:


That's what I thought...
Just my

[jscott]

Originally Posted by HomerSimpson

Including jscott

By all means, especially including me! Or you too.....

there are crypto tech experts, there are general market experts, but there are zero real true CRYPTO MARKET experts on the planet, it's too new for that yet imo so anyone claiming to know the future or act expertish are full 'o shit imo

[HomerSimpson]

Originally Posted by jscott

By all means, especially including me! Or you too.....

I can agree on this too
Nothing is black/white

Originally Posted by jscott

there are crypto tech experts, there are general market experts, but there are zero real true CRYPTO MARKET experts on the planet, it's too new for that yet imo so anyone claiming to know the future or act expertish are full 'o shit imo

And most certainly I can agree on this too...

There are no experts in this area, trust no one, be smart.

[jscott]

also Homer, your advices comparing 10yo bitcoin to 1 month or year old altcoin are pretty unfair.

You forgot to mention a huge variable, its' each persons intent

do you want to invest in a 50x growth by "playing around with altcoins"? sure we all want huge growth, but which one of the 1400 alts should we choose? take advices and strategies from whom? there isnt enough company/creator or market data from most alts to make a solid judgement imo

do you want to invest in something that has 1 decade of proven growth, integration and development for probably a sure, but smaller growth % ? easy, BTC (and even LTC, ETH, etcetera)

... or risk on higher gains but more possible failure by some random altcoin with a cool name?


sorry i'm in a rush out the door, typed this quick my wording may be lil funked up lol

[HomerSimpson]

Originally Posted by jscott

also Homer, your advices comparing 10yo bitcoin to 1 month or year old altcoin are pretty unfair.

I started mining Bitcoins for fun when they were like $4 a piece...
And why can't I compare 10yo bitcoin with a 3 months old one. That's the first difference right there and for me it means nothing... but profit it can make me does! Look it this way: gold is known for thousands of years but people today spend money on Bitcoins

do you want to invest in a 50x growth by "playing around with altcoins"? sure we all want huge growth, but which one of the 1400 should we choose? take advices and strategies from whom?

That's the 2000% question and it's not an easy to answer. I agree that for most folks it's perfectly fine to setup CoinBase account, buy Bitcoin (or Ethereum) keep it for one year right there in CoinBase and then just sell it when in need for money or when investment goal is achieved or whatever. It's perfectly fine..

But then there are other people, like me, that do kind of both... I do have some money in Bitcoin, but I also want to experiment with new things and new coins... I mean I sure do like blonds but I have nothing against other redheads and other flavors... I hope you get what I mean... I just want the best band for my dolla'

Just a quick question for you, taking a pic I posted into consideration, would you rather own Bitcoins or Ripple (XRP) or that XEM thing (hell I have no idea what's that) for the past year? Just asking?

do you want to invest in something that has 1 decade of proven growth, integration and development for probably a sure, but smaller growth % ? easy, BTC, LTC, ETH, etcetera

... or risk on higher gains but more possible failure by some random altcoin with a cool name?

It depends on you. You need to do your own risk management and see how much risk you can take for every investment you're making... Maybe I'm okay spending an amount of money on altcoins with the risk of losing it all and you're not...

Like I said be smart!

[jscott]

Originally Posted by HomerSimpson

Just a quick question for you, taking a pic I posted into consideration, would you rather own Bitcoins or Ripple (XRP) or that XEM thing (hell I have no idea what's that) for the past year? Just asking?

hypothetically, owning for the past year, i'd say Xrp for sure. I bought it first at $0.006 so of course the gains on that, since April 2017 have been amazing! I can imagine Btc/eth/ltc/xmr still around and still solid in 5 years for now, i cant say the same for Xrp or most altcoins

Long run bitcoin takes the cake, far outperforms anything I have ever seen, in crypto, stocks, commodities, fiat currencies or anything at all

[HomerSimpson]

Originally Posted by jscott

Long run bitcoin takes the cake, far outperforms anything I have ever seen, in crypto, stocks, commodities, fiat currencies or anything at all

Exactly, it all depends on you X-axis (time) and what time frame do you take.

[shake]

Don't get me wrong, I like and hodl btc. But I think there's a lot of room to grow on the 3rd gen coins, particularly in terms of speed and transaction fees.

Take iota for example, when you do a transaction, you also verify two more peoples transactions. There's no fees and it's almost instant.

[SNRProductions]

My Chase business account was just shut down due to Coinbase so be very careful and don't make the same mistake I did. Get a separate account for crypto so it doesn't fuck up your banking.

[SNRProductions]

Oh and check out PRL...it's for us webmasters. It just shot up a bit today but it sounds very interesting! I'm going to try it out when available on some sites.

[MrBottomTooth]

Originally Posted by SNRProductions

My Chase business account was just shut down due to Coinbase so be very careful and don't make the same mistake I did. Get a separate account for crypto so it doesn't fuck up your banking.

Why was it shut down?

[Jel]

this thread has thrown me somewhat. You're obviously fairly well versed in crypto, as it was through a post of yours that I picked up a ton of ETH back in about march or april last year... you have posted multiple times about btc prices and buying in, and now you are asking about basic stuff like fees, and doing £20 a week to use on alts? I feel like I just turned over 2 pages at once in a book, and am missing something.

[Smack dat]

Originally Posted by Jel

this thread has thrown me somewhat. You're obviously fairly well versed in crypto, as it was through a post of yours that I picked up a ton of ETH back in about march or april last year... you have posted multiple times about btc prices and buying in, and now you are asking about basic stuff like fees, and doing £20 a week to use on alts? I feel like I just turned over 2 pages at once in a book, and am missing something.

I have been buying ether, bitcoin and ripple since around 2014 however until recently I didn't own any other alt coins.
Just before Christmas I bought IOTA, Litecoin, BCH and Monero.

I would like to invest £20 a week via Coinbase to purchase other upcoming alts. Such as Dent, Dentacoin, Enjin, PIRL and Verge.

Reading about the high charges with btc and coinbase I wasn't sure it was viable.

It's kind of my new years resolution. I have stopped drinking - now on Day 7 and it's my aim to make 100k (on paper) through Crypto by the end of the year. The £20 is the savings made from drinking.

[rogueteens]

Originally Posted by SNRProductions

My Chase business account was just shut down due to Coinbase so be very careful and don't make the same mistake I did. Get a separate account for crypto so it doesn't fuck up your banking.

Originally Posted by MrBottomTooth

Why was it shut down?

yes, why please?

[rogueteens]

Originally Posted by Smack dat

I would like to invest £20 a week via Coinbase to purchase other upcoming alts. Such as Dent, Dentacoin, Enjin, PIRL and Verge.

I tried doing that but the exchanges I transferred to refused to let me exchange such small amounts, fucking annoyed that that as I was going to buy some stella but ended up missing the boat.

[Jel]

Originally Posted by Smack dat

I have been buying ether, bitcoin and ripple since around 2014 however until recently I didn't own any other alt coins.
Just before Christmas I bought IOTA, Litecoin, BCH and Monero.

I would like to invest £20 a week via Coinbase to purchase other upcoming alts. Such as Dent, Dentacoin, Enjin, PIRL and Verge.

Reading about the high charges with btc and coinbase I wasn't sure it was viable.

It's kind of my new years resolution. I have stopped drinking - now on Day 7 and it's my aim to make 100k (on paper) through Crypto by the end of the year. The £20 is the savings made from drinking.

gotcha. deposit into coinbase > open gdax.com (already automatically linked with your coinbase account but minimal fees) > transfer your funds that you just deposited into coinbase > buy ltc > send to bittrex for far less tx fees, and trade ltc pairs instead of btc pairs to get the alts you want.

[Smack dat]

Originally Posted by rogueteens

I tried doing that but the exchanges I transferred to refused to let me exchange such small amounts, fucking annoyed that that as I was going to buy some stella but ended up missing the boat.

I had the same problem. I needed enough ETH to buy 100 of the coins I wanted but I only had enough ETH for 99 coins.
Luckily I had just enough btc left in an account to buy enough ETH to cover.