Bitcoin transferring fees

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • CoachE
    SBR Rookie
    • 08-08-13
    • 31

    #1
    Bitcoin transferring fees
    I used circle in the past which was great and did not charge any fees but since I cannot use them anymore, I was just charged $300 to transfer 3k from block chain to coinbase, which seems ridiculous to me. Then I was charged another another $40 to withdraw that money from coinbase to my bank account. Does anyone have any better options that charge less? Is this even normal? Seems ridiculously high fees to me. Thanks in advance.
  • Optional
    Administrator
    • 06-10-10
    • 61390

    #2
    Were you charged $300 or did the value just drop by the time it got to Coinbase?

    blockchain.info/wallet does not charge any fees and Coinbase does not charge a receiving fee either.
    .
    Comment
    • CoachE
      SBR Rookie
      • 08-08-13
      • 31

      #3
      Originally posted by Optional
      Were you charged $300 or did the value just drop by the time it got to Coinbase?

      blockchain.info/wallet does not charge any fees and Coinbase does not charge a receiving fee either.
      Good call, I did not even think of that because I transferred it almost immediately but that seems to be the case. Sorry for the post. But thanks for answering because I was already preparing to not use this method again.
      Comment
      • Optional
        Administrator
        • 06-10-10
        • 61390

        #4
        You must have had very unlucky timing to lose that much if the transfer was quick.
        .
        Comment
        • Buffalo Nickle
          SBR MVP
          • 11-12-14
          • 3228

          #5
          Welcome to the wonderful world of bitcoin where the price can drop 10% or more between the time your transfer gets requested and the time it gets received and confirmed. Fun, fun, fun.

          It's the currency of the future!
          Comment
          • themike78
            SBR MVP
            • 07-01-13
            • 4873

            #6
            It's not the currency of the future. The only thing good about it is moving money to and from books. Nobody uses Bitcoin but gamblers and drug dealers. I just hope it doesn't get banned from the U.S.
            Comment
            • CoachE
              SBR Rookie
              • 08-08-13
              • 31

              #7
              Yeah, it makes total sense. Especially with the way bitcoin has dropped in the past day. Between 20-25% between my accounts.
              Comment
              • SportsMushroom
                SBR MVP
                • 09-28-10
                • 4177

                #8
                Originally posted by themike78
                It's not the currency of the future. The only thing good about it is moving money to and from books. Nobody uses Bitcoin but gamblers and drug dealers. I just hope it doesn't get banned from the U.S.
                i dont know about that, 100,000 companies all over the world accept it as payment, including dell and microsoft

                and that doesnt include local businesses in many countries that accept bitcoin but have no online presence and so are not counted

                i've seen hairdressers and dentists accept bitcoin as payment

                so maybe its not just for gamblers and drug dealers
                Comment
                • Roscoe_Word
                  SBR MVP
                  • 02-28-12
                  • 3999

                  #9
                  Volatility sucks. But its part of the game.
                  Comment
                  • themike78
                    SBR MVP
                    • 07-01-13
                    • 4873

                    #10
                    Originally posted by SportsMushroom
                    i dont know about that, 100,000 companies all over the world accept it as payment, including dell and microsoft

                    and that doesnt include local businesses in many countries that accept bitcoin but have no online presence and so are not counted

                    i've seen hairdressers and dentists accept bitcoin as payment

                    so maybe its not just for gamblers and drug dealers
                    The majority of those companies actually don't accept Bitcoin. They go through Bitpay which is basically a middleman. If you talk to the average person most of them dont even know what Bitcoin is. That has been my experience at least. I buy a lot of gift cards from.gyft.com and the people at the stores always ask me why I always use gift cards. I tell them I buy them with Bitcoin and they look at me like I'm speaking a foreign language. They always ask what's Bitcoin? And these are the store managers and owners. So I really don't think mainstream America is using it too much.
                    Comment
                    • Optional
                      Administrator
                      • 06-10-10
                      • 61390

                      #11
                      ^^^ those store owners must not have opened a newspaper or been to an online news site in the last 3 years.

                      Even my dear old mother and her elderly friends have heard of Bitcoin.
                      .
                      Comment
                      SBR Contests
                      Collapse
                      Top-Rated US Sportsbooks
                      Collapse
                      Working...