Coinbase and BitCoin, never seems to be enough available funds

[kasterborus]

So I ordered my first rep from Pure Time, and selected the BitCoin option. Set myself up on Coinbase, funded, waited the 10 days. Then tried to buy enough BTC to send.

First obstacle was the fees, which are subtracted from the Buy amount, so I adjusted and added 40 dollars to be safe.

Now when I come to send, it tells me that I can only send approx $50 less than I have in my Bitcoin wallet, which is $3 below the cost of the watch.
Even though they do not explain the difference, I think it might be the 'network fees' - which looks like to be 10% of the transaction.
Apparently if I send to an email address, and not the wallet ID I don't pay network fees.

Has anyone figured out how to use Coinbase and get the right amount of money over to the TD, without getting dinged with all the hidden fees?

 

[kasterborus]

Quick follow up, even though I sent all the USD from my bank to Coinbase on the same day, it looks like they were subject to tiers of hold times. The first few hundred was on hold for 10 days, the last $50 was subject to a 15 day hold.

I assume that's why I cannot send all of the BTC I bought. I'm going to wait a week and try again.

I think if anyone wants to buy using BTC, go get a Coinbase account running at least 30 days before you want to buy, and fund it with at least double what you want to pay for the watch.

Expect to lose about $30 in fees with the first transactions, just learning how it all works.

If you are lucky, you can connect a debit card (none of mine would work) and you don't need to wait through the hold times.

 

[hm11esh]

So I ordered my first rep from Pure Time, and selected the BitCoin option. Set myself up on Coinbase, funded, waited the 10 days. Then tried to buy enough BTC to send.

First obstacle was the fees, which are subtracted from the Buy amount, so I adjusted and added 40 dollars to be safe.

Now when I come to send, it tells me that I can only send approx $50 less than I have in my Bitcoin wallet, which is $3 below the cost of the watch.
Even though they do not explain the difference, I think it might be the 'network fees' - which looks like to be 10% of the transaction.
Apparently if I send to an email address, and not the wallet ID I don't pay network fees.

Has anyone figured out how to use Coinbase and get the right amount of money over to the TD, without getting dinged with all the hidden fees?

I have used it once and had no troubles. I didn't use the coinbase app as it charges a lot of fees. Send the bitcoin to your coinbase pro account. ( login in using coinbase details on https://www.coinbase.com/oauth/authorize/oauth_signin?client_id=2d06b9a69c15e183856ff52c250281f6d93f9abef819921eac0d8647bb2b61f9&meta%5Baccount%5D=all&redirect_uri=https%3A%2F%2Fpro.coinbase.com%2Foauth_redirect&response_type=code&scope=user+balance&state=fab81282-4866-4ec2-fa0f-4da0b9bc2700)

Then send the btc like you normally do. this should sort it out

 

[r0b9502]

It depends on your country of registration I guess. Some countries will have extra fees while others not, while yet others forbid bitcoin transactions entirely (you cant open a coinbase account period). If you have a coinbase account registered in the good ol' Trumplands, there should not be any extra fees, and transactions should incur a fee of around 1.5%. Dont quote me, but I have heard such from reliable sources.

 

[xartan]

The network fee was very low last I used bitcoin. Less than $1 I think. Historically it has sometimes been really high though.

 

[hm11esh]

or what you can do is offer to make up the difference and ask the TD if they will accept Paypal for the extra 3 dollars that you are short.

 

[Hazing]

That happened to me. I just ordered a few watches and selected the bitcoin option. I thought it was supposed to be cheaper but it ended up costing me more. Just chump change but it was an irritating learning curve. Im glad I did it though.

My purchase came to 806 so I bought like 860 btc. I read order 10% more but in the example I read, it was more like a 500 watch and much of it, I thought, was flat fees. So after purchasing 860btc, there was like only 798 available. So I bought another 80 btc. I was already verified in my account but when I tried to send it, I learned that I had to verify for bitcoin. So I verified and had to wait a day but by then the bitcoin lost some value so I had to by more. Never fails. So it ended up costing me about 880 for what should have been an 780 order.

 

[playingthe4]

Square app allows Bitcoin purchases and has lower fees might be another option to look at. I've made several purchase from Ryan with BTC without issue and he doesn't seem to be a stickler on small price fluctuations. Just fyi I wouldn't send a TD a payment directly from Coinbase. Withdraw from Coinbase to something like samourai wallet first. Bad opsec with Bitcoin to send directly from exchange accounts. For better privacy use something like wasabi wallet to delink exchange withdrawals.

Sent from my Pixel 3 XL using Tapatalk

 

[rj999]

I gave up on Coinbase. They seem to be no good for UK customers. I was verified and able to send money. Then I wasn't again with no identifiable cause and the amounts that could be used to buy coin became trivial again. I found Bitpanda which is based in Austria and seems to work very well. the initial verification was a bit untidy, invollving a video call to my phone from some offshoot of the Austrian State Postal Service, but it went through and now I can deposit and withdraw from my normal UK bank account. But I don't leave BTC inside Bitpanda, I move it to my hardware wallet.