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Alternatives to CB for cashing in and out

  • 02-01-2018 10:04am
    #1
    Registered Users Posts: 1,914 ✭✭✭ 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?


Comments

  • Registered Users Posts: 318 ✭✭ 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.


  • Registered Users Posts: 9,062 ✭✭✭ Kenny Logins


    Gemini doesn't operate in Ireland yet.

    GDAX is OK IMHO, until I find an alternative.


  • Registered Users Posts: 712 ✭✭✭ 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.


  • Registered Users Posts: 2,072 ✭✭✭ ZeroThreat


    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?


  • Registered Users Posts: 9,062 ✭✭✭ 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.


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  • Registered Users Posts: 9,062 ✭✭✭ 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).


  • Registered Users Posts: 712 ✭✭✭ Tango One


    No external transfers of any crypto. Only internal exchanges.
    Well feck that anyway


  • Registered Users Posts: 2,072 ✭✭✭ ZeroThreat


    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.


  • Registered Users Posts: 1,914 ✭✭✭ 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.


  • Registered Users Posts: 9,062 ✭✭✭ 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.


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  • Registered Users Posts: 2,072 ✭✭✭ ZeroThreat


    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)


  • Registered Users Posts: 9,705 ✭✭✭ 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 ?


  • Registered Users Posts: 8,718 ✭✭✭ 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.


  • Registered Users Posts: 2,261 ✭✭✭ 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.

    Thanks,

    G.



  • Registered Users Posts: 9,062 ✭✭✭ 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.


  • Registered Users Posts: 1,458 ✭✭✭ 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.


  • Registered Users Posts: 2,072 ✭✭✭ ZeroThreat


    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.


  • Registered Users Posts: 24 ✭✭✭ GaryL0904


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


  • Registered Users Posts: 23 ✭✭✭ dextadave


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


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