1. 06-14-17 07:32 PM #1
    CoachE
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    Bitcoin transferring fees

    I used circle in the past which was great and did not charge any fees but since I cannot use them anymore, I was just charged $300 to transfer 3k from block chain to coinbase, which seems ridiculous to me. Then I was charged another another $40 to withdraw that money from coinbase to my bank account. Does anyone have any better options that charge less? Is this even normal? Seems ridiculously high fees to me. Thanks in advance.
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  2. 06-14-17 07:36 PM #2
    Optional
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    Were you charged $300 or did the value just drop by the time it got to Coinbase?

    blockchain.info/wallet does not charge any fees and Coinbase does not charge a receiving fee either.
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  3. 06-14-17 07:40 PM #3
    CoachE
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    Quote Originally Posted by Optional View Post
    Were you charged $300 or did the value just drop by the time it got to Coinbase?

    blockchain.info/wallet does not charge any fees and Coinbase does not charge a receiving fee either.
    Good call, I did not even think of that because I transferred it almost immediately but that seems to be the case. Sorry for the post. But thanks for answering because I was already preparing to not use this method again.
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  4. 06-14-17 08:14 PM #4
    Optional
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    You must have had very unlucky timing to lose that much if the transfer was quick.
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  5. 06-14-17 08:27 PM #5
    Buffalo Nickle
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    Welcome to the wonderful world of bitcoin where the price can drop 10% or more between the time your transfer gets requested and the time it gets received and confirmed. Fun, fun, fun.

    It's the currency of the future!
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  6. 06-14-17 08:38 PM #6
    themike78
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    It's not the currency of the future. The only thing good about it is moving money to and from books. Nobody uses Bitcoin but gamblers and drug dealers. I just hope it doesn't get banned from the U.S.
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  7. 06-15-17 08:45 AM #7
    CoachE
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    Yeah, it makes total sense. Especially with the way bitcoin has dropped in the past day. Between 20-25% between my accounts.
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  8. 06-15-17 09:29 AM #8
    SportsMushroom
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    Quote Originally Posted by themike78 View Post
    It's not the currency of the future. The only thing good about it is moving money to and from books. Nobody uses Bitcoin but gamblers and drug dealers. I just hope it doesn't get banned from the U.S.
    i dont know about that, 100,000 companies all over the world accept it as payment, including dell and microsoft

    and that doesnt include local businesses in many countries that accept bitcoin but have no online presence and so are not counted

    i've seen hairdressers and dentists accept bitcoin as payment

    so maybe its not just for gamblers and drug dealers
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  9. 06-15-17 11:51 AM #9
    Roscoe_Word
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    Volatility sucks. But its part of the game.
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  10. 06-15-17 12:16 PM #10
    themike78
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    Quote Originally Posted by SportsMushroom View Post
    i dont know about that, 100,000 companies all over the world accept it as payment, including dell and microsoft

    and that doesnt include local businesses in many countries that accept bitcoin but have no online presence and so are not counted

    i've seen hairdressers and dentists accept bitcoin as payment

    so maybe its not just for gamblers and drug dealers
    The majority of those companies actually don't accept Bitcoin. They go through Bitpay which is basically a middleman. If you talk to the average person most of them dont even know what Bitcoin is. That has been my experience at least. I buy a lot of gift cards from.gyft.com and the people at the stores always ask me why I always use gift cards. I tell them I buy them with Bitcoin and they look at me like I'm speaking a foreign language. They always ask what's Bitcoin? And these are the store managers and owners. So I really don't think mainstream America is using it too much.
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  11. 06-15-17 04:27 PM #11
    Optional
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    ^^^ those store owners must not have opened a newspaper or been to an online news site in the last 3 years.

    Even my dear old mother and her elderly friends have heard of Bitcoin.
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