1. #1
    Regul8er
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    Anyone ever purchased bitcoin from their bank?

    Im sure some of you have. Well coinbase is saying it'll take 10 days before the bitcoins are available for use after I completed the purchase. This can't be right can it? I would have thought minutes, just like when I request bitcoin, or transfer from wallet to wallet, or send to my bank account.

  2. #2
    Optional
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    Quote Originally Posted by Regul8er View Post
    Im sure some of you have. Well coinbase is saying it'll take 10 days before the bitcoins are available for use after I completed the purchase. This can't be right can it? I would have thought minutes, just like when I request bitcoin, or transfer from wallet to wallet, or send to my bank account.
    If it's your first transaction it takes a lot longer.

    The last person who asked about this and coinbase was quoted 19 days. (we don't know why so so long or why it changes)

    After you have done a few transfers the standard time is 5 days.

    You can skip the wait by paying your bank to send it by wire instead of ACH. That happens same day or overnight.


    One other tip. You have the choice to deposit US$ to your account, and not buy the bitcoin until the cash is cleared. Or you can buy bitcoin instantly with bank transfer at todays prices, but not be able to transfer it out of their exchange until cleared.
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  3. #3
    Optional
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    For buying bitcoin, you'll find both gemini.com and The Cash App on your phone (from Square Inc) are faster and cheaper to get started btw.
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  4. #4
    Regul8er
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    Quote Originally Posted by Optional View Post
    If it's your first transaction it takes a lot longer.

    The last person who asked about this and coinbase was quoted 19 days. (we don't know why so so long or why it changes)

    After you have done a few transfers the standard time is 5 days.

    You can skip the wait by paying your bank to send it by wire instead of ACH. That happens same day or overnight.


    One other tip. You have the choice to deposit US$ to your account, and not buy the bitcoin until the cash is cleared. Or you can buy bitcoin instantly with bank transfer at todays prices, but not be able to transfer it out of their exchange until cleared.
    Goodness......19 days, I'm frustrated as heck at 10 days, had no idea that kind of wait was going to be put on it. No chance I would have made this transactions had I known. Fack

  5. #5
    TheMoneyShot
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    Quote Originally Posted by Regul8er View Post
    Im sure some of you have. Well coinbase is saying it'll take 10 days before the bitcoins are available for use after I completed the purchase. This can't be right can it? I would have thought minutes, just like when I request bitcoin, or transfer from wallet to wallet, or send to my bank account.
    Head to Gemini.com

    Quicker.... and a fairer price on the quote. I won't do business with any other exchange.

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  6. #6
    Regul8er
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    OK, good to know. Looks like Im stuck on this transaction......but will keep this in mind

  7. #7
    themike78
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    Quote Originally Posted by Regul8er View Post
    Im sure some of you have. Well coinbase is saying it'll take 10 days before the bitcoins are available for use after I completed the purchase. This can't be right can it? I would have thought minutes, just like when I request bitcoin, or transfer from wallet to wallet, or send to my bank account.
    Debit card is instant with coinbase. I would avoid coinbase though because they have too many fees. The cashapp is the best way to buy with pretty much no fees even when sending out. They are also the easiest to get verified. I think I just sent them a copy of my i.d and that was it. No stupid selfies of you holding 8 different pieces of paper with codes like other places make you do. But be careful they will ban you if you do too many transactions. That's what happened to me.

  8. #8
    eaglesfan371
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    Bitquick for me...might take a day or two until you see a worthwhile offer but you can easily get coin for 2% fee or less.

    $900 cash deposit last week, $910 rec'd (1% below spot price after fee)
    $310 cash deposit today, $304 rec'd (2% above spot after fee)

    Localbitcoins sometimes too but often 3-7% fee cash deposit.

    The only downside is I have to keep the receipts for tax purposes if I were to get audited (to show me buying bitcoin rather than all the sales).
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  9. #9
    pattymayo
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    Echoing others about Cash App.. super low fees (compared to Coinbase) purchasing with debit card takes seconds

  10. #10
    JoeCool20
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    Quote Originally Posted by Regul8er View Post
    Im sure some of you have. Well coinbase is saying it'll take 10 days before the bitcoins are available for use after I completed the purchase. This can't be right can it? I would have thought minutes, just like when I request bitcoin, or transfer from wallet to wallet, or send to my bank account.



    Yeah Bit-coin is "fast fast, quick quick!" LOL It just really isn't that way at all to initially GET the BTC and have it for use!!

    LOL Take a picture of your ID, take a picture holding your ID! The picture is too dark, take another one!

    Ok now wait a week.

    LOL I don't want the crap a week from now! I want it now!

    All I can think of that they mean is how "quick and fast" it is to transfer from BTC wallet to Sports-book, AFTER you have waited 2 weeks for all the horse-shiet that it first takes to set up an account and buy it!

    Because no-one will ever doubt that once you finally "jump through all the hoops" and have the BTC, then you can lose every bit of it as fast as you can send it to the Sports-books!

    I don't have any "discipline" once I start losing, especially when I'm drinking or drunk!

    So I'd NEVER link my bank account where I'd be able to keep on and on buying and sending in BTC and losing!

    LOL Maybe you DO have more discipline than that, but hey, just remember this!

    If you go through the process of linking your bank account, then don't keep a large sum in that account!

    And don't send a lot of extra money in to coinbase!!
    Because you could lose ALL your money in your account in ONE damn session if you don't have the discipline to stop!
    THAT is why BTC is "pushed" so hard by the S-books and places that are paid by the S-books!
    Because once you go through the process of linking a bank account, and then you drain it all out in one maniac losing session, then ALL your money is gone from your C-base account with NO way to do anything about it!

    It could only take a matter of minutes or hours! And after it is over, whether you got drunk and lost, or lost while you were flat sober, once the BTC is purchased, sent in, and lost, then they have just taken ALL your money out of your C-base account and you have nothing left and no way to do anything about it!

    AND if you have MORE money in your linked/verified bank account, then you could probably send all that in very quickly to c-base and buy more BTC and possibly lose everything in your bank account too!
    Last edited by JoeCool20; 04-16-19 at 12:55 AM.

  11. #11
    TennisAceE
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    Quote Originally Posted by Regul8er View Post
    Im sure some of you have. Well coinbase is saying it'll take 10 days before the bitcoins are available for use after I completed the purchase. This can't be right can it? I would have thought minutes, just like when I request bitcoin, or transfer from wallet to wallet, or send to my bank account.
    This is standard with Coinbase as a first time buyer and nothing to be worried about.

    Some exchanges offer Instant Purchases (I thought Coinbase did but haven't used them in a while).

    They are just verifying that you are who you claim to be; it won't be like this for all transactions.


  12. #12
    Regul8er
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    I know it told me 10 days, but any chance this will be shorter? 10 days seems like an awfully long time in this day and age.
    I wont even take this chance again.

  13. #13
    Optional
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    Quote Originally Posted by Regul8er View Post
    I know it told me 10 days, but any chance this will be shorter? 10 days seems like an awfully long time in this day and age.
    I wont even take this chance again.
    From what I have seen posted, it appears to be a fixed period. 10 days exactly it will probably be.
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  14. #14
    Optional
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    Quote Originally Posted by Regul8er View Post
    I know it told me 10 days, but any chance this will be shorter? 10 days seems like an awfully long time in this day and age.
    I wont even take this chance again.
    You could just wire in the deposit again, and withdraw the first one back to your bank when it clears. No charge to withdraw US$
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  15. #15
    Regul8er
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    What do you mean Optional? I'm not following.......the money has cleared from my bank already.

  16. #16
    Optional
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    Quote Originally Posted by Regul8er View Post
    What do you mean Optional? I'm not following.......the money has cleared from my bank already.
    I meant cleared by Coinbase. And I just meant if you have the cash spare and want to hurry it up. Don't worry, was not a good suggestion anyway. Would be better to use cash app if you want to do a second deposit.
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  17. #17
    littlekona
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    the nice thing about Gemini is that you can just let funds sit in your account in USD OR purchase BTC (though you can not transfer out) right away...Depends on how market is trending so if you choose there is very minimal risk of losing any funds due to decreasing btc price... you can just use it as a funding vessel...My deposits take 4 days to clear and become transferable @ Gemini

  18. #18
    Regul8er
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    Looks like its legit going to be 10 days before the funds are available to send......crazy in this day and age anything takes that long.
    Pretty depressing really!

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