Alternatives to CB for cashing in and out

dashcamdanny

Hi.

Coinbase is a bit expensive to say the least. I see lots of US peeps use Gemini

But what is the best way to buy BTC with euro here in Ireland?

And trade back into cash when needed?

h0neybadger

Kraken's fee for cashing in and out is very low.

Very fast too.

However they're closed until the 4th Jan for transfers in and out.

Kenny Logins

Gemini doesn't operate in Ireland yet.

GDAX is OK IMHO, until I find an alternative.

Tango One

You could try revolut. You will need a premium account to have the crypto function enabled or sit and wait for it to be unlocked on the free version. Invite 3 people and they unlock straight away.

ZeroThreat

dashcamdanny wrote: »

Hi.

Coinbase is a bit expensive to say the least. I see lots of US peeps use Gemini

But what is the best way to buy BTC with euro here in Ireland?

And trade back into cash when needed?

So, if I sell my Bitcoin on Gdax exchange, then transfer the €s to coinbase euro wallet, what % am I charged if I withdraw, say €10,000 to my (Irish) bank?

Kenny Logins

Tango One wrote: »

You could try revolut. You will need a premium account to have the crypto function enabled or sit and wait for it to be unlocked on the free version. Invite 3 people and they unlock straight away.

No external transfers of any crypto. Only internal exchanges.

Kenny Logins

ZeroThreat wrote: »

So, if I sell my Bitcoin on Gdax exchange, then transfer the €s to coinbase euro wallet, what % am I charged if I withdraw, say €10,000 to my (Irish) bank?

Just withdraw from GDAX. SEPA transfers are free up to €10k (per day).

Tango One

Kenny Logins wrote: »

No external transfers of any crypto. Only internal exchanges.

Well feck that anyway

ZeroThreat

Kenny Logins wrote: »

Just withdraw from GDAX. SEPA transfers are free up to €10k (per day).

so ummm, why are people withdrawing from Coinbase then?

Registering with Gdax isn't all that difficult.

dashcamdanny

ZeroThreat wrote: »

so ummm, why are people withdrawing from Coinbase then?

Registering with Gdax isn't all that difficult.

I dont think people know as coinbase is full of new users. Also using the debit card is very handy, albeit expensive.

Kenny Logins

ZeroThreat wrote: »

so ummm, why are people withdrawing from Coinbase then?

Registering with Gdax isn't all that difficult.

Some people have had problems with the second photo ID required.

ZeroThreat

Kenny Logins wrote: »

Some people have had problems with the second photo ID required.

It's probably worth it to go to the trouble of getting an up to date modern style drivers licence card if you're dealing with significant amounts though.

If I recall other threads, that was the main reason most people had trouble with the ID reqs. (although I assume some weren't drivers so have no sort of licence)

dodzy

Folks, quick Q re Coinbase.

It's saying that I must contact card issuer before I can buy BC (first transaction), yet the amount I entered has reduced my weekly allowed spend on the CB interface. Is it necessary that I contact the bank ?

Matt Simis

I've always used Bitstamp. Same transfers, card top up and also issue a card. But most importantly are European and based in the EU.

garrettod

I'm waiting over 4 weeks for Bitstamp to verify my ID (Coinbase managed to sign of on the ID I sent them, in a a couple of days, max.)

Bitstamp clearly can't cope with the volumes imho.

Kenny Logins

dodzy wrote: »

Folks, quick Q re Coinbase.

It's saying that I must contact card issuer before I can buy BC (first transaction), yet the amount I entered has reduced my weekly allowed spend on the CB interface. Is it necessary that I contact the bank ?

Does your card have 3D secure? (Revolut, for example, doesn't). SEPA transfer instead.

Tinder Surprise

Make sure you get your unique Reference number for SEPA payments into Coinbase.

Just click in your Euro wallet and follow the instructions.
Fill out how much youre sending etc. I find the transfer goes through quicker when you let them know it's on the way, but your still looking at 3+ working days from experience.

ZeroThreat

Tinder Surprise wrote: »

Make sure you get your unique Reference number for SEPA payments into Coinbase.

Just click in your Euro wallet and follow the instructions.
Fill out how much your sending etc. I find the transfer goes through quicker when you let them know it's on the way, but your still looking at 3+ working days from experience.

With AIB I've found it always arrives by early afternoon next working day at the latest.

GaryL0904

For people cashing out, what are you doing about tax?

dextadave

will be interesting to see what revenue's take on it will be prob cgt at 30%