Hi all, I am looking to add some Bitcoin to my portfolio but not sure best way to buy, I have signed up with Coinbase, are they any good or should I be looking at another option, I am not looking to actively trade the coin, but to accumulate on pull backs for a long term hold
Can’t say much about BTC buys, but I’ve purchasaed Ether through them recently. Tried with the credit card and bank transfer. Credit card was fast, but with a fee, bank transfer took almost a week for the Ether to show up in my account.
Haven’t sold any, so I don’t know how fast/slow that process works.
Using the Android app, works fine, too. Had to do the identity verification online, through the website, using the app didn’t work. Maybe that’s on purpose, not sure. Tried using a driver’s license, but the image wouldn’t take. Could have been a lighting issue when taking the photo. Anyway, once that was verified, the bank transfer is easy.
As for holding the currency, it does what I had hoped. You have your wallet for each, and a vault. You have transaction history, BTC and Ether historical value, you can send and request funds (haven’t tried either).
So, yea, you can at least grab an account online and the app to get a feel for the UI and features.
Did you use Coinbase in the end, Dennis?
Yes I did, shortly after that last March post I made my first purchase of Ethereum and Bitcoin, the only regret is not buying a lot more then I did
Coinbase is great. Just make sure to use GDAX when making actual trades.
I’m personally not a fan of Coinbase.
-It isn’t possible to see the actual rates untill you have deposited money on your account.
-I found out you get approximately 2,5% less bitcoin for your money than on other sites. This is for small amounts, for big amounts I don’t know.
-There is a page about their fees, but it’s very blurry and unclear for new users.
-To trade on GDAX, two idenity cards are required. A lot of people don’t have that and therefore can’t trade on GDAX.
Coinbase story, last year March, I placed my first order for Ethereum, with Coinbase, I received a order confirmation but nothing happen after that, I did not get my Ethereum nor was any cash out of my account, being it my first order I just figured it was an issue with the my bank not releasing the funds, A week later I tried again and order went through. A few months later I received an email from Coinbase saying they had technical diffeculties on that date of my first order and they would make good on any orders that did not post, I just needed to show proof of order by means of the email confirmation. Coinbase credit my account all the Ethereum I had ordered at 18.50 a coin, Ethereum was over $200 a coin when my account was made right, so I am very happy with Coinbase
Barclays no longer will provide banking services to Coinbase and that is affecting UK clients of the crypto exchange as it has lost access to the UK’s Faster Payments Scheme (FPS), which allows instant deposits and transfers in British pounds.
As a result deposits and withdraws in fiat currencies made by UK clients of Coinbase now take days instead of minutes.