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).

  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!

  19. #19
    Regul8er
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    So finally got my deposit into my coinbase account.....sent over to blockchain, happened in seconds. Then sent to sportsbook from blockchain over 3 hours ago, and transaction still hasnt been confirmed? Is this normal? Thought it was instantaneous? Folks say bitcoin deposit is the easiest and fastest....been anything but for me.

    This is really making me not want to mess with bitcoin anymore.
    Last edited by Regul8er; 04-25-19 at 10:25 AM.

  20. #20
    Optional
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    Quote Originally Posted by Regul8er View Post
    So finally got my deposit into my coinbase account.....sent over to blockchain, happened in seconds. Then sent to sportsbook from blockchain over 3 hours ago, and transaction still hasnt been confirmed? Is this normal? Thought it was instantaneous? Folks say bitcoin deposit is the easiest and fastest....been anything but for me.

    This is really making me not want to mess with bitcoin anymore.
    Where are you checking to see it's not confirmed?

    If a miner has not picked it up after 3 hours, then using a higher miner fee would solve that next time.

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  21. #21
    Regul8er
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    5d sent me a link showing the transaction, and it still shows as Unconfirmed, nearly 4 hours ago now.
    I didnt even see an option to change the miner fee......it gave me a fee, so I took it.

    This wont take more then a day, will it?

  22. #22
    Regul8er
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    According to my blockchain app, it says Status : Pending (0/3 confirmations).

    WTH does this mean? Never in my wildest dreams did I picture this to be a 10 days process that is still not complete.

  23. #23
    Optional
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    Quote Originally Posted by Regul8er View Post
    5d sent me a link showing the transaction, and it still shows as Unconfirmed, nearly 4 hours ago now.
    I didnt even see an option to change the miner fee......it gave me a fee, so I took it.

    This wont take more then a day, will it?
    It depends how low the fee was.

    but should not be a lot longer at a guess.

    If you PM me the link 5D gave you then I can probably give you a pretty close estimate. (you should be able to find the same link in your blockchain wallet btw. Upward pointing arrow on right side of transaction details)

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  24. #24
    Optional
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    Quote Originally Posted by Regul8er View Post
    According to my blockchain app, it says Status : Pending (0/3 confirmations).

    WTH does this mean? Never in my wildest dreams did I picture this to be a 10 days process that is still not complete.
    Don't be that late adopter that feels the need to complain about what they expected in every post between asking questions and getting the answers you need. It's like a cliche the way you guys who want to start this 5 years after everyone else bang on about it being too hard/slow/expensive.

    Remind yourself there are thousands of others here that choose to use it because it is easier, cheaper and faster than other methods. There must be a way for it to be like that for you too eh?

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  25. #25
    Regul8er
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    I had no idea this was normal dude. Could have just as easily used my CC and been in the game and paid virtually the same in fees.

    When would you honestly expect this to get cleared? No one including the help section on the website seems to have an answer.

  26. #26
    Regul8er
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    Do I have reason to be concerned? I ask because 0 confirmations after 4 hours, no customer service number to call, and bitcoins already deducted from my account. This is new to me, and I want some assurance this will go through for me. Also would love a time frame. Thanks

  27. #27
    Optional
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    Quote Originally Posted by Regul8er View Post
    Do I have reason to be concerned? I ask because 0 confirmations after 4 hours, no customer service number to call, and bitcoins already deducted from my account. This is new to me, and I want some assurance this will go through for me. Also would love a time frame. Thanks
    No, no reason to be concerned. It will get there. And unlikely to be too much longer.


    Look at the transaction, if you have paid more than 10 satoshis per byte, then the the max time for confirmation should be 8 hours.

    It would currently cost about 60 Satoshis per byte to have it picked up in the next block. Which would be maximum of 10 mins.

    You can get this information from this site. https://bitcoinfees.earn.com/

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  28. #28
    Regul8er
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    Thanks for the info Optional. Looks like the fee was 0.00001122 btc. Not exactly sure how to convert that to satoshis.

  29. #29
    Optional
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    Quote Originally Posted by Regul8er View Post
    Thanks for the info Optional. Looks like the fee was 0.00001122 btc. Not exactly sure how to convert that to satoshis.
    The byte size is also needed. The Fee Per Byte is the important part. And I don't know what you are looking at to guess how to explain this for you simply. Do you not want to send me the transaction for some reason? Could explain everything you need to know by example

    And that bitcoinfees site has a drop down at the top to change from Satoshis to BTC. But the blockchain transaction details should show you a fee per byte in Satoshis there.

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  30. #30
    Regul8er
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    Sent 0.09478249 BTC
    Trans Fee 0.00001122 BTC
    Sent at 8:07am
    Status Pending (0/3 confirmations)

    That's everything from the transaction page


    THanks again man!

  31. #31
    Regul8er
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    If Im reading the chart right, 360 minutes is the maximum wait time. I should be seeing this hit any minute now, since Im around 340 minutes. Thats good news.

  32. #32
    Optional
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    Quote Originally Posted by Regul8er View Post
    If Im reading the chart right, 360 minutes is the maximum wait time. I should be seeing this hit any minute now, since Im around 340 minutes. Thats good news.
    If you can work out that chart, then you should find bitcoin easy.


    Now you are setup it should work a lot smoother/faster. here are a couple of tips.


    Depositing to buy is harder than selling and cashing out.

    If you need to deposit fast, use a wire transfer to fund Coinbase instead of ACH.

    Other faster ways are the Cash App from Square Inc. a local Bitcoin ATM or the person to person exchanges like localbitcoins.com or paxful.com


    If you want to reduce the exchanger fees that Coinbase take, then you need to do the buys/sells yourself on their public trading exchange called Coinbase Pro, instead of just buying/selling with Coinbase direct.


    You have no control over the miner fee that either Coinbase or your Sportsbooks will use when sending, but as long as you use your Blockchain.com wallet in between each time you can make sure each send gets to the other end in the fastest possible time by on-sending it as soon as you see it unconfirmed in your wallet, but using double the optimum fee (to cover both sends). So the miner that picks up the new transaction has to confirm the older transaction first to get their fee.

    Once you know what what you are doing, you should only ever own any bitcoin for under 20 mins each send.

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  33. #33
    Regul8er
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    Im now at 9 hours and counting.

  34. #34
    Optional
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    Quote Originally Posted by Regul8er View Post
    Im now at 9 hours and counting.
    Search for the transaction at blockchain.com and get the correct Fee per Byte number.

    or click the link inside your blockchain wallet i described above instead of looking at whatever 5D sent to you.

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  35. #35
    Regul8er
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    The numbers I listed above cane directly off my blockchain account

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