Topic: Buying with Fiat on Coinbase versus GDAX (Read 133 times)

Don't deal with cex even if you have account there. Too many complaints about fiat payments for waithdrawal are never processed there since september 2017. There is a thread with discoussion on "cex scam" an too many prrofs of their scam, not just a couple of delays or mistakes but the real widespread scam on fiat payouts.

The only thing I am aware of being wrong with Cex is that it still does not accept new members - just checked it now. Bitfinex has resumed accepting new memberships and I have joined it - but no occasion to test it yet.

From what I've seen it's not worth to buy any coins directly from coinbase interface. If have access to Gdax then you should definitely buy your coins there. When you buy at coinbase, you will always pay for fees, but if you choose to buy in Gdax, you don't need to pay fees at all, assuming you will be a market maker, instead of a taker (this means that you will not buy the coins at the current market price, and you will just place an order at a different price, and wait for it to be filled). You can then send your coins to another exchange if you want to, since it's also free to transfer coins from gdax to external addresses.

You don't miss anything. Don't forget that dealing with FIAT involves certain expenses, BUT... when you change back LTC to FIAT why don't you send it back from Binance to GDAX as the back exchange rate would be better too and you will actually gain back your "$10 premium"

I buy LTC at GDAX for $190.. I send it over to Binance - where it is worth $180 (cause binance always has lower prices due to higher volume). I ALWAYS lose $10 per LTC!

Same for ETH and BTC. I have NEVER encountered a scenario where this was opposite - or even balanced. Since Binance will not allow FIAT deposit, so I have to go to GDAX first

So, it seems one does not get a 'fair' price on Coinbase or GDAX. One pays a premium. So - you have to first recover the $10 premium before you start making a profit on your crypto.

The price difference is shocking! Am I missing something? Anyone have a workaround?

Bitfinex was working properly all the way - it's my own experience. What was wrong with Cex? Please share your experience as it is really important, I am tracking the rates of major exchanges all the time, but not able to trade in all of them. Kraken is absolute disappointment as too many negative feedback within the last days.

I needed one exchange to sell the BTCs because I was forecasting this drop in price and I wanted to rebuy them cheaper. Now it is too late, it is already cheaper and now it makes no sense to sell any more. Now it's time to hodl. Pity Cex, Kraken and others were out of order.

It depends on your country. Coinbase, Localbitcoins, google ("buy/sell bitcoin for cash in ", "buy/sell bitcoin with bank account in )

Just do this... i did this on the past and everything went smoothly a few days after i made the transaction.

If you transfer fiat to coinbase, you need to know that it will take some days to get it reflected on your dashboard, aswell that if you are lucky, you can have it in there a few hours later (even minutes)

But yes, buying litecoin is the best thing that you can do, since the fees are cents, nothing can be compared with litecoin fees (less than $0,50 per transaction)

There is some useful information in this thread, thanks. However, if someone doesn't want to wait that these exchanges resume new memberships, which other chances would there be of exchanges which offer conversion to FIAT and withdrawal to banks?

1) Add BTC/USD trackers from major exchanges to Tradingview watchlist and you will see the difference is always there on Cex with higher btc/usd rate. Now it is close to 6%, but it is very often 10-12%, during high volume trade days and great moves it reaches 14-17%. In TradingView you need to add a symbol (for instance BTC/USD and choose an exchange from the dropdown list)...

2) Cex has really suspended the acceptance of new members, but several major exchanges did the same in the same period and some of them have already renewed acceptance couple of days ago (Bitfinex for example). Looks like it was mutual agreement of the most popular exchanges to close registration temporarily, there were many reasons provided by community memebers, official explanation was a break taken to manage the backlog of ID and payment verifications of the recently huge number of new registered users. So try to register and if it doesn't allow I guess they have some notification option and will start accepting new users again very soon.

3) I am going to pass verification on Cex within a week and to top up with bitcoin, exchange to fiat and try their withdrawal option to Visa/Mastercard and Bank account in order to see how it really works and what actual fees it incurs. Fees they listed on the website are rather acceptable and everything looks really convenient for exchanging crypto to fiat and withdrawal of fiat. As soon as I finish the experiment, I will post the results here.

This is an aspect I am interested myself very much. Really 15% better rates on CEX.io than Coinbase? Do you or does anyone know other site's conditions for a wider comparison? BTW I have heard CEX.io has suspended the acceptance of new members.

What about the final stage of selling coins and converting to fiat? Have you tried CEX.io? I am following it for the last 4 months and sometimes the difference in btc/eth/ltc rates were up to 15% higher from those in Coinbase. It's concerning the converting of coins back into fiat on cex. I think it makes sense.

I have bought BTC, BCH, and LTC on both platforms. The cheapest way is to transfer fiat to coinbase and then to Gdax. Then buy LTC on GDAX. Just make sure you purchase with a limit order and not a market order. Otherwise you will pay taker fees.

Option A - Transfer Fiat to Coinbase and buy litecoin there. Then I do a free transfer of the litecoin to GDAX  - and from there to some other exchange to buy my alts.
Option B -  Now, instead of buying LITECOIN on Coinbase, I could also just transfer the fiat from Coinbase to GDAX and buy my LITECOIN on GDAX. I noticed there is a slight difference in prices of LTC on GDAX versus Coinbase.

 Please answer only if you have tried both these options and know which one is better, and will get you LTC at the better price. I am not fully convinced by 'they should theoretically be the same' .

Thanks
AV