Is this what bitcoin is?

[Mr. Teaser]

Made a withdrawal of $19,810 through bitcoin with the book taking nothing out.

After it came in I immediately cashed it all out to my bank.....$19,406. I am using Coinbase.

Is losing over $400 cashing out with bitcoin the norm? If so what's all the hype about? This sucks and isn't any better than an old school wire give or take a couple extra days.

Am I using the wrong bitcoin company or doing something wrong here? Please let me know.

[danshan11]

what was it worth (BTC price) at the time you received it from the book?
what was it worth (BTC price) when you sold at coinbase?

[Mr. Teaser]

$300 was taken out as a fee and I guess the other $100 was through the price difference. Are there any better companies to go through?

[fried cheese]

$300 was taken out as a fee and I guess the other $100 was through the price difference. Are there any better companies to go through?

if u sell through coinbase pro you can have no fee with limit orders and like .3% fee with regular market orders. regular coinbase is a ripoff to sell and buy from.

[Mr. Teaser]

So switch to coinbase pro? Is there any disadvantage or cost? A quick google doesn't seem to show that there is.

[fried cheese]

no disadvantage except being a little more difficult to use. if do limit orders you risk your orders not selling if the price drops instead of raises. if you do market orders then its instant at like a fifth of the fee. you also must link your bank account so that takes a few days. regular coinbase is just for ppl that want to use cc's for instant buying instead of waiting to link the bank account and waiting for bank transfers.

[Mr. Teaser]

Thanks for the info. The ONLY thing I use this for is book withdrawals to transfer to my bank.

[ans61201]

Coinbase will randomly freeze accounts if they suspect coming from a sports book. Gemini much cheaper, same functions. And much better customer service in my experience

[convick]

Another vote for Gemini. Coinbase blows.

[Emily_Haines]

get a bitpay card

i pay $2 for every 750

process is slow to get into your bank account but fuk paying 300 in fee's

[fried cheese]

gemini increased their fees to 1% from .25%.

[Dalex17]

+1 for Gemini Coinbase is good for people who are new to buying and selling BTC.

[5mike5]

get a bitpay card

i pay $2 for every 750

process is slow to get into your bank account but fuk paying 300 in fee's

this is by far best option imo

[danshan11]

+1 for Gemini Coinbase is good for people who are new to buying and selling BTC.

you can darn near eliminate fees if you sell on Coinbase GDAX just google it tons of explanations online how to do it.

[DroopyDog]

Use LocalBitcoins and sell your BTC peer to peer and you can actually make +5-10%

[Arky]

I know this is about withdrawals but for deposits to Coinbase Pro and Gemini, if it's over $1000, I got to where I just wire it in. It's kind of a hassle to call your bank and feed them the wire info but it's usually only a couple of hours till it hits and you can buy and withdraw immediately. My bank charges $15 for the service - other banks vary. If I start in the morning, I can wire into Coinbase Pro/Gemini, buy Bitcoin or Eth, send it to Binance, buy an alt coin and withdraw to a hardware wallet - all done same day.