Would it be better to wire the US Dollar Coin from Coinbase Pro or Coinbase?
Topic: Best, inexpensive, convenient, and safe way to cash out BTC and other Crypto. (Read 195 times)
January 11, 2020, 05:15:56 PM
When my price comes in. I guess I will convert my crypto to US Dollar coin on Coinbase and or Coinbase Pro. Then wire it into my checking account. Any thing wrong with this plan?
Would it be better to wire the US Dollar Coin from Coinbase Pro or Coinbase?
Would it be better to wire the US Dollar Coin from Coinbase Pro or Coinbase?
December 24, 2019, 12:35:24 AM
Definitely there are better ways to cashout with much cheaper fees, for example, p2p sites like localbitcoin only will collect 1% as a fee from the total traded amount ad the advertiser end and also their withdrawal fee is pretty cheaper comparably coinbase and any other centralized exchange.
Paxful and Bisq also can be a better option but these are not from exchange account, it will be from someone's account to your account.
Paxful and Bisq also can be a better option but these are not from exchange account, it will be from someone's account to your account.
That's ok for smaller amounts.
December 23, 2019, 06:36:58 PM
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That makes sense.
I would max out your withdrawal limits on Coinbase Pro. They should automatically raise them after that. I've never used them to "trade" really, mainly just as a fiat offramp. My experience was that they automatically raised my limit to $50,000/day after I had made a few $1,000-$5,000 withdrawals.
I'm already up to 10,000 on Coinbase Pro. I think I can sell the limit of a 250,000 bank wire on Coinbase. I bet their will be problems. I would max out your withdrawal limits on Coinbase Pro. They should automatically raise them after that. I've never used them to "trade" really, mainly just as a fiat offramp. My experience was that they automatically raised my limit to $50,000/day after I had made a few $1,000-$5,000 withdrawals.
December 23, 2019, 06:33:00 PM
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I'm not sure if Kraken is the best way to go, and I think Gemini has higher fees.
After researching. I found that they are for lower amounts on withdrawls.
December 23, 2019, 05:36:32 PM
It's needlessly complex.
Jesus, it sounds like it. There really needs to be a service like Circle again, which was probably the easiest way I've ever used for both buying and selling bitcoin. Unfortunately I don't even know if such a service can exist in the US again. I'm not sure if regulations have changed, but there must be some reason why they stopped doing what they did.From what it sounds like, Coinbase is still the best way to go for simple bitcoin transactions, even with the fee structure they have. I'm not sure if Kraken is the best way to go, and I think Gemini has higher fees. It really sucks when you're trying to deal with legitimate businesses and trying to use fiat and bitcoin together. Don't know why they make it so goddamn hard.
December 23, 2019, 04:53:25 PM
I recommend depositing to Coinbase Pro and selling there. You'll save a boatload on fees. You can withdraw USD to your checking account from there, no need to transfer to Coinbase.
I started an account on Coinbase Pro but they won't yet raise my limits until I do some trading. I'm done trading I want and want to cash out most of my Crypto. So far that's all I have tried is Coinbase and Coinbase Pro. ON Coinbase I have 3rd level clearance. It looks like I will pay 3% on Coinbase. I don't mind paying some modest fee's to get larger amounts out quickly. I'm not a whale but I have a significant amount. I'll probably do both until I get familiar with Coinbase Pro. I might even hook my accounts up to 2 banks in case I have trouble with one of them. That makes sense.
I would max out your withdrawal limits on Coinbase Pro. They should automatically raise them after that. I've never used them to "trade" really, mainly just as a fiat offramp. My experience was that they automatically raised my limit to $50,000/day after I had made a few $1,000-$5,000 withdrawals.
December 23, 2019, 11:27:10 AM
Definitely there are better ways to cashout with much cheaper fees, for example, p2p sites like localbitcoin only will collect 1% as a fee from the total traded amount ad the advertiser end and also their withdrawal fee is pretty cheaper comparably coinbase and any other centralized exchange.
Paxful and Bisq also can be a better option but these are not from exchange account, it will be from someone's account to your account.
Paxful and Bisq also can be a better option but these are not from exchange account, it will be from someone's account to your account.
That's ok for smaller amounts.
December 23, 2019, 11:26:25 AM
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Coinbase charges a 0.5% price spread and a 1.5%-10% fee, depending on the amount traded
Thanks. Do you happen to know how much you have to trade to get the fee's down?
It's needlessly complex. You can find all the info here. The flat fee works like this:
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- If the total transaction amount is less than or equal to $10, the fee is $0.99.
- If the total transaction amount is more than $10 but less than or equal to $25, the fee is $1.49.
- If the total transaction amount is more than $25 but less than or equal to $50, the fee is $1.99.
- If the total transaction amount is more than $50 but less than or equal to $200, the fee is $2.99.
I recommend depositing to Coinbase Pro and selling there. You'll save a boatload on fees. You can withdraw USD to your checking account from there, no need to transfer to Coinbase.
December 22, 2019, 03:36:21 PM
Definitely there are better ways to cashout with much cheaper fees, for example, p2p sites like localbitcoin only will collect 1% as a fee from the total traded amount ad the advertiser end and also their withdrawal fee is pretty cheaper comparably coinbase and any other centralized exchange.
Paxful and Bisq also can be a better option but these are not from exchange account, it will be from someone's account to your account.
Paxful and Bisq also can be a better option but these are not from exchange account, it will be from someone's account to your account.
December 22, 2019, 03:00:08 PM
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Coinbase charges a 0.5% price spread and a 1.5%-10% fee, depending on the amount traded
Thanks. Do you happen to know how much you have to trade to get the fee's down?
It's needlessly complex. You can find all the info here. The flat fee works like this:
Quote
- If the total transaction amount is less than or equal to $10, the fee is $0.99.
- If the total transaction amount is more than $10 but less than or equal to $25, the fee is $1.49.
- If the total transaction amount is more than $25 but less than or equal to $50, the fee is $1.99.
- If the total transaction amount is more than $50 but less than or equal to $200, the fee is $2.99.
I recommend depositing to Coinbase Pro and selling there. You'll save a boatload on fees. You can withdraw USD to your checking account from there, no need to transfer to Coinbase.
December 21, 2019, 04:52:45 PM
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Coinbase charges a 0.5% price spread and a 1.5%-10% fee, depending on the amount traded
Thanks. Do you happen to know how much you have to trade to get the fee's down?
December 21, 2019, 03:17:54 PM
Coinbase is going to cost about a total of 3% of your BTC to cash out. You first have to change the BTC to US Dollars. Then you can bank wire it to your checking account. Up to whatever your limit is. Their is also Coinbase Pro which is a little more complicated. I think you have to trade yourself but it is cheaper.
It's a lot cheaper. Coinbase Pro charges 0.5% in trading commissions -- that's it. Coinbase charges a 0.5% price spread and a 1.5%-10% fee, depending on the amount traded.
Is there another better way? I want to know the facts before the next run up. Not after. 
There are cheaper options. It sounds like you're in the US? Gemini and Kraken come to mind.
December 21, 2019, 02:28:12 PM
Coinbase is going to cost about a total of 3% of your BTC to cash out. You first have to change the BTC to US Dollars. Then you can bank wire it to your checking account. Up to whatever your limit is. Their is also Coinbase Pro which is a little more complicated. I think you have to trade yourself but it is cheaper.
Is there another better way? I want to know the facts before the next run up. Not after.
Is there another better way? I want to know the facts before the next run up. Not after.
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