Topic: From UK, Understanding Investing Jargon help (Read 440 times)
What is mainnet address? Slso does Bittrex exchange support the new Bytom altcoin as I am still holding old Bytom ERC-20 on my hardware wallet.
Hi coming back here with a beginner question:
Looking at candle sticks charts. The top of a green candlestick shows close price and bottom of it shows open price and vice-versa for red candles.
What I dont understand is crypto and bitcoin market is open 24/7 so how does the candlestick represent a open and close price for a 24/7/365 days constant open market?
Looking at candle sticks charts. The top of a green candlestick shows close price and bottom of it shows open price and vice-versa for red candles.
What I dont understand is crypto and bitcoin market is open 24/7 so how does the candlestick represent a open and close price for a 24/7/365 days constant open market?
Is there a way to save the QR code without having the new phone nearby?
Most phones should have some sort of screen shot/capture function. Mine does it holding down the power and volume down button. I'm not sure how keen I'd be to leave something like that on a phone for any period of time though. That's the key to a lot of things.
The question is if I tap on export accounts in google authenticator then will that automatically include the backup recovery keys also or am I still required to enter the recovery key for each account when exporting accounts to new device?
It'll allow you to first choose which accounts you want to export and then it'll create a single QR code that the new phone will scan and set them all up there straight away. No need to do anything else. People have been squealing for it for years but Google like to take their time about these things.
I've been horribly slack with losing 2FA keys in the past so had to cancel all of mine and start again with the recoveries properly recorded this time around.
Is there a way to save the QR code without having the new phone nearby?
What is mainnet address? Slso does Bittrex exchange support the new Bytom altcoin as I am still holding old Bytom ERC-20 on my hardware wallet.
[moderator's note: consecutive posts merged]
I personally use BestChange to find the best exchanges. The site is extremely easy to use and has been around for quite some time now, making it one of the more reputable platforms.
For more in-depth info, I use CoinGecko, since this allows you to categorize exchanges by trading volume, number of trading pairs etc. This will help you find the best exchanges for GBP markets. CMC, however, is absolute trash.
For more in-depth info, I use CoinGecko, since this allows you to categorize exchanges by trading volume, number of trading pairs etc. This will help you find the best exchanges for GBP markets. CMC, however, is absolute trash.
The question is if I tap on export accounts in google authenticator then will that automatically include the backup recovery keys also or am I still required to enter the recovery key for each account when exporting accounts to new device?
It'll allow you to first choose which accounts you want to export and then it'll create a single QR code that the new phone will scan and set them all up there straight away. No need to do anything else. People have been squealing for it for years but Google like to take their time about these things.
I've been horribly slack with losing 2FA keys in the past so had to cancel all of mine and start again with the recoveries properly recorded this time around.
Hi coming back here.
I installed latest version of Google Authenticator. Theres a new feature in the latest google authenticator app that allows you to transfer accounts to a new device.
The question is if I tap on export accounts in google authenticator then will that automatically include the backup recovery keys also or am I still required to enter the recovery key for each account when exporting accounts to new device?
I installed latest version of Google Authenticator. Theres a new feature in the latest google authenticator app that allows you to transfer accounts to a new device.
The question is if I tap on export accounts in google authenticator then will that automatically include the backup recovery keys also or am I still required to enter the recovery key for each account when exporting accounts to new device?
Hi at coinbase pro, on profile information section part of the site it says Taxes status missing.
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
Since Coinbase is located in the USA, the tax section only applies to USA residents or nationals living abroad or at least that's what my understanding of how taxation works in the USA is anyway. It would not make sense to get taxed by the USA since living in the UK you'll need to declare your earning to HMRC and it won'e make sense to be taxed twice!Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
no, they only word it that way ("your tax information is missing", "to comply with tax regulations we need to collect certain information") to persuade USA customers to voluntarily provide it. notice the references to "form 1099-K"? that's not a UK tax form.
in fact, coinbase does not provide any tax forms to non-USA customers. https://help.coinbase.com/en/coinbase/taxes-reports-and-financial-services/taxes/coinbase-tax-resource-center.html
however, be mindful that HMRC may request your info from coinbase, and they have made such blanket requests in the past: https://www.coindesk.com/british-tax-authority-seeks-customer-data-from-crypto-exchanges-in-search-of-tax-evaders
Okay so am I obliged to fill out the tax section form on coinbase to prevent disruptions to my coinbase account?
I doubt there'll be a single reference number or box that needs filling in that'll make sense or apply to you.
I've never heard of any Brit talking about this. Ask support if you're not sure but I'd ignore it unless they nudged me. They're going to know what jurisdiction you're in.
Hi at coinbase pro, on profile information section part of the site it says Taxes status missing.
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
Since Coinbase is located in the USA, the tax section only applies to USA residents or nationals living abroad or at least that's what my understanding of how taxation works in the USA is anyway. It would not make sense to get taxed by the USA since living in the UK you'll need to declare your earning to HMRC and it won'e make sense to be taxed twice!
Okay so am I obliged to fill out the tax section form on coinbase to prevent disruptions to my coinbase account?
Hi at coinbase pro, on profile information section part of the site it says Taxes status missing.
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
Since Coinbase is located in the USA, the tax section only applies to USA residents or nationals living abroad or at least that's what my understanding of how taxation works in the USA is anyway. It would not make sense to get taxed by the USA since living in the UK you'll need to declare your earning to HMRC and it won'e make sense to be taxed twice!
Hi at coinbase pro, on profile information section part of the site it says Taxes status missing.
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
I've never heard of a Brit having anything from Coinbase regarding tax. It's purely for Americans as far as I know.
It might be this? https://help.coinbase.com/en/pro/taxes-reports-and-financial-services/taxes/1099-k-tax-forms-faq-for-coinbase-pro-prime-merchant.html That's the one people mention most often.
It's also triggered only over a certain amount of volume or transactions.
May as well ask them if you're unsure.
Hi at coinbase pro, on profile information section part of the site it says Taxes status missing.
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
Im from UK and understand coinbase is in USA.
Can coinbase pro have the legal right to stop withdrawals or freeze my account in future if I dont fill out that taxes section?
bitfinex has a BTC/GBP market with ~ 1/3 of coinbase's BTC/GBP volume. bitfinex actually has a better spread and deeper order book though, so it should be perfectly fine. it also has significantly cheaper fees---0.1% maker/0.2% taker vs 0.5%/0.5% at coinbase pro.
The idea of inserting or extracting GBP from Bitfinex makes me want to cry. I have genuinely never seen anyone on any forum say they've used that pairing on Bitfinex, let alone how they funded it or took their gains.
tbh i haven't seen much discussion about bitfinex fiat deposits/withdrawals in general for the past year or 2. their whole operation is difficult to figure out. their 10k eur/usd/gpb minimums indicate they aren't really for retail reddit troll types.
i've seen them periodically shut down eur/usd/gpb/jpy transfers all at once so it seems like they operate all fiat currencies through the same banking network. maybe they are playing games with volume but bitfinex isn't really known for that, and arbitrage seems to be keeping markets in line so fiat must be flowing.
bitfinex has a BTC/GBP market with ~ 1/3 of coinbase's BTC/GBP volume. bitfinex actually has a better spread and deeper order book though, so it should be perfectly fine. it also has significantly cheaper fees---0.1% maker/0.2% taker vs 0.5%/0.5% at coinbase pro.
The idea of inserting or extracting GBP from Bitfinex makes me want to cry. I have genuinely never seen anyone on any forum say they've used that pairing on Bitfinex, let alone how they funded it or took their gains.
Im looking for the cheapest fees for BTC<>£GBP pairs with the highest true volumes. So Coinbase Pro the best for this or are there better exchanges that anyone recommends?
bitfinex has a BTC/GBP market with ~ 1/3 of coinbase's BTC/GBP volume. bitfinex actually has a better spread and deeper order book though, so it should be perfectly fine. it also has significantly cheaper fees---0.1% maker/0.2% taker vs 0.5%/0.5% at coinbase pro.
https://www.coingecko.com/en/exchanges/bitfinex
https://www.coingecko.com/en/exchanges/coinbase_pro
Secondly do exchanges charge fees straight way once you submit a limit order?
you only get charged fees if/when your order actually executes.
Im looking for the cheapest fees for BTC<>£GBP pairs with the highest true volumes. So Coinbase Pro the best for this or are there better exchanges that anyone recommends?
Secondly do exchanges charge fees straight way once you submit a limit order?
They affect the fees you'll be charged when your order executes. See here:
If your monthly trading volume is $50,000 or less, then it doesn't matter -- maker and taker orders will cost exactly the same. If your trading volume is greater than $50,000 then you can minimize fees by using maker orders. You can find the fee tiers here.
Coinbase's regular site is much more expensive. Don't use it.
Okay for beginners placing limit orders which you recommend to use out of Post Only or Allow Taker if you say both of these fees are the same? Also do Coinbase Pro charge fees straight away once I click on submit order or fees charged once order is fulfilled?
[moderator's note: consecutive posts merged]
Secondly do exchanges charge fees straight way once you submit a limit order?
Hi,
On Coinbase Pro, like to buy Bitcoin at limit price.
What is Post Only & Allow Taker?
On Coinbase Pro, like to buy Bitcoin at limit price.
What is Post Only & Allow Taker?
They affect the fees you'll be charged when your order executes. See here:
How do I avoid fees or minimise fees when buying?
Also can I buy at limit price on normal Coinbase and is fees there also?
Also can I buy at limit price on normal Coinbase and is fees there also?
If your monthly trading volume is $50,000 or less, then it doesn't matter -- maker and taker orders will cost exactly the same. If your trading volume is greater than $50,000 then you can minimize fees by using maker orders. You can find the fee tiers here.
Coinbase's regular site is much more expensive. Don't use it.
Okay for beginners placing limit orders which you recommend to use out of Post Only or Allow Taker if you say both of these fees are the same? Also do Coinbase Pro charge fees straight away once I click on submit order or fees charged once order is fulfilled?
[moderator's note: consecutive posts merged]
Fair enough, figment, I didn't realise they were that vast in difference. I really just use CMC as a quick checker but I see Gecko ranking well in Google these days anyway. But I think rather than discourage CMC, maybe better to encourage proper behaviour and tell people to use multiple sources. It could be part of my apathy is that I don't trade nor speculate more than necessity, and my volume's at p2p anyway... so I don't feel the need to get numbers that are right. I assume everything I see isn't accurate =\
I think, for the average user like me, Coingekko and Coinmarketcap really aren't very much different from each other. I've never really understood why the hate for CMC, when they're only giving, as you say: "what they say they have versus what they probably have".
I mean, honest data reporting should not be expected from any centralised exchange, and the aggregator can only report what's reported.
I mean, honest data reporting should not be expected from any centralised exchange, and the aggregator can only report what's reported.
we should really be discouraging the use of coinmarketcap. it encourages people to use shady and illiquid exchanges that may end up exit scamming. just compare them side by side. it's like night and day:
Volume is basically "this is what they say they have versus what they probably really have" and none of them are really fully true, you need permission to get to their website to see what they actually have with some sort of API.
I think, for the average user like me, Coingekko and Coinmarketcap really aren't very much different from each other. I've never really understood why the hate for CMC, when they're only giving, as you say: "what they say they have versus what they probably have".
I mean, honest data reporting should not be expected from any centralised exchange, and the aggregator can only report what's reported.
But to OP: Coinbase. You're at least protected by some of the guarantees they have as a registered financial institution in the UK. Otherwise, take out your own insurance =)
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