Newbie to Bitcoin question

[JohnGalt2341]

I'm fairly new to using Bitcoin. I use Blockchain as my wallet. My question is... what is the best way to get money from Blockchain to your bank account?

OR, if you have any other suggestions like using Paypal or anything like that I'm open to ideas. I just don't really like having too much money sit there in case it should take a dive.

[RudyRuetigger]

Just use coinbase

[unlearn]

I use Gemini

[terpkeg]

I would suggest gemini over coinbase. I'm surprised it has taking John Galt so long to get to BTC

[TheMoneyShot]

I would suggest gemini over coinbase. I'm surprised it has taking John Galt so long to get to BTC

Exactly. I figured Mr. Galt would of been the first on it.

[stackz125]

I would suggest gemini over coinbase. I'm surprised it has taking John Galt so long to get to BTC

I use coinbase as well but why do you suggest gemini?

[TheMoneyShot]

I use coinbase as well but why do you suggest gemini?

1. Don't gouge you on the quoted price. Coinbase always does.

2. Gemini has lower buying and selling fees than Coinbase.

3. Gemini doesn't charge you any Bitcoin networking fees when sending. They give you 10 Free every calendar month.

Coinbase lost my business 2+ years ago.

[fried cheese]

i left gemini when they upped their exchange fees to 1%. you can trade at the coinbase pro exchange for .15% maker fee or .25% taker fee. dont use the regular coinbase site to sell though.

[JohnGalt2341]

I would suggest gemini over coinbase. I'm surprised it has taking John Galt so long to get to BTC

Exactly. I figured Mr. Galt would of been the first on it.

I hear that. A friend of mine sort of scared me into all the dangers of using bitcoin for the last several years. He made it sound like all of your money could disappear at any moment and there would be nothing you could do about it. I was hesitant for a long time because of that.

[funnyb25]

I hear that. A friend of mine sort of scared me into all the dangers of using bitcoin for the last several years. He made it sound like all of your money could disappear at any moment and there would be nothing you could do about it. I was hesitant for a long time because of that.

This friend of yours is an idiot.

Welcome John~!

[jjgold]

Coinbase much better

[TheMoneyShot]

i left gemini when they upped their exchange fees to 1%. you can trade at the coinbase pro exchange for .15% maker fee or .25% taker fee. dont use the regular coinbase site to sell though.

I left Coinbase when that jacked the rates... and then reported select accounts to the IRS....

I'm getting bent over... and drilled.

Great company.


I've done numerous transactions with Gemini.... not one IRS form.

[byronbb]

IF you need small amounts you can just buy bitcoin at coinstar change machines at wal-mart etc.

[shocka1212]

I left Coinbase when that jacked the rates... and then reported select accounts to the IRS....

I'm getting bent over... and drilled.

Great company.


I've done numerous transactions with Gemini.... not one IRS form.

ironic because gemini asked for the social security info before doing anything for me and CB didint

[TheMoneyShot]

ironic because gemini asked for the social security info before doing anything for me and CB didint

lol Come on Shocka... all exchanges ask for SSN's. The one thing I refuse to send is a photo ID. Coinbase wanted one after 14 months of doing business with them... I refused. So my account was on hold. Gemini never asked for a photo ID. Seems like I've been with them for 2+ years now.

Just google Coinbase IRS.... and you'll see how they turned in 13,000+ clients to the IRS. Ridiculous.

[LLXC]

Just google Coinbase IRS.... and you'll see how they turned in 13,000+ clients to the IRS. Ridiculous.

Gemini and Coinbase use the same criteria for sending 1099Ks to the IRS.

[TheMoneyShot]

Gemini and Coinbase use the same criteria for sending 1099Ks to the IRS.

And you're entitled to believe whatever you want to believe.

[Optional]

lol Come on Shocka... all exchanges ask for SSN's. The one thing I refuse to send is a photo ID. Coinbase wanted one after 14 months of doing business with them... I refused. So my account was on hold. Gemini never asked for a photo ID. Seems like I've been with them for 2+ years now.

Just google Coinbase IRS.... and you'll see how they turned in 13,000+ clients to the IRS. Ridiculous.

To be fair to Coinbase, they were hit with a "John Doe" summons demanding every customer record who had transacted bitcoin over a 2 year period.

Coinbase fought that tooth and nail and ended up only having to hand over a tiny % of accounts that specifically appeared to be holding large sums, as a type of Swiss bank account alternative.

[asiagambler]

BitMEX the best

[chico2663]

To be fair to Coinbase, they were hit with a "John Doe" summons demanding every customer record who had transacted bitcoin over a 2 year period.

Coinbase fought that tooth and nail and ended up only having to hand over a tiny % of accounts that specifically appeared to be holding large sums, as a type of Swiss bank account alternative.

opti always keeping it real. got to love opti unless he is winning at poker

[TheMoneyShot]

To be fair to Coinbase, they were hit with a "John Doe" summons demanding every customer record who had transacted bitcoin over a 2 year period.

Coinbase fought that tooth and nail and ended up only having to hand over a tiny % of accounts that specifically appeared to be holding large sums, as a type of Swiss bank account alternative.

We talked about this 2 years ago... in regards to every time you clicked to BUY Bitcoin (At Coinbase...) the rate would ALWAYS INCREASE. It NEVER DECREASED... NEVER NEVER NEVER. I did tests for weeks on their system. I hope they lost tons of clients. All of the intelligent traders don't even screw with Coinbase.

They didn't go to BAT FOR THEIR CLIENTS.... they hung em out to dry.

[mngambler]

lol Come on Shocka... all exchanges ask for SSN's. The one thing I refuse to send is a photo ID. Coinbase wanted one after 14 months of doing business with them... I refused. So my account was on hold. Gemini never asked for a photo ID. Seems like I've been with them for 2+ years now.

Just google Coinbase IRS.... and you'll see how they turned in 13,000+ clients to the IRS. Ridiculous.

so in your mind if you cashout 50k from Gemini and don't pay either income or capital gains taxes on it you believe you are 'safe' if audited? lol think again bud

[TheMoneyShot]

so in your mind if you cashout 50k from Gemini and don't pay either income or capital gains taxes on it you believe you are 'safe' if audited? lol think again bud

I think you might be misinterpreting my posts? When did I ever mention anyone was "safe" from an audit?

[shocka1212]

lol Come on Shocka... all exchanges ask for SSN's. The one thing I refuse to send is a photo ID. Coinbase wanted one after 14 months of doing business with them... I refused. So my account was on hold. Gemini never asked for a photo ID. Seems like I've been with them for 2+ years now.

Just google Coinbase IRS.... and you'll see how they turned in 13,000+ clients to the IRS. Ridiculous.

how long does Gemini take to deposit USD from my bank? longer or the same as CB?