Coinbase Question....

[funnyb25]

There is heavy volume going on which I can understand why receiving transactions would be delayed. But, I have already received the funds into my Bitcoin Wallet, and when transferring them into USD wallet, it says transaction successful.

I refresh and the funds remain in the Bitcoin Wallet. Shouldn't a transfer once into Bitcoin wallet to USD wallet be immediate since there are no confirmations needed?

[dlowilly]

Funny Madoff wants someone to help him out and answer his cryptocurrency questions

Can't make it up!

[hotcross]

funnyb trying to follow your question.

I think you need to sell the bitcoins first on the Gdax exchange. That would convert them into dollars. Then put them back in your coinbase USD wallet if that's what you want to do.

Steps-
1. Transfer all bitcoin to Gdax exchange
2. Login to Gdax and sell all the bitcoin for USD (limit order is best but can also do market order)
3. Now transfer all USD back to Coinbase

[funnyb25]

funnyb trying to follow your question.

I think you need to sell the bitcoins first on the Gdax exchange. That would convert them into dollars. Then put them back in your coinbase USD wallet if that's what you want to do.

Steps-
1. Transfer all bitcoin to Gdax exchange
2. Login to Gdax and sell all the bitcoin for USD (limit order is best but can also do market order)
3. Now transfer all USD back to Coinbase

I have done this many times, that once the funds are in the Coinbase BTC Wallet, you just transfer them immediately into Coinbase USD Wallet.

There is an alert on Coinbase at outgoing BTC transaction may be delayed for several hours, but I would not think that should apply just to transfer the BTC from Coinbase into the USD Wallet on Coinbase.

That is what is interesting...

[unde0087]

funny, it should show up within a few minutes. I did this last week and it took a minute or two for it to show up in my USD wallet.

[funnyb25]

funny, it should show up within a few minutes. I did this last week and it took a minute or two for it to show up in my USD wallet.

Thank you sir...So then it does appear that the high volume does even effect the "instant" transfer from your own BTC Wallet to your own USD Wallet.

[hotcross]

ok I'm not too familiar with this instant transfer method you are using between the BTC and USD wallets within Coinbase....but I'd guess they are charging you a bigger fee for this than if you'd do it on Gdax yourself. Gdax limit order trades are charged no fee