@webcoop I'll let you in on a little secret. Coinbase is really not for trading. It is a simplified way to purchase cryptocurrency. The secret is that coinbase is a parent company of Gdax. Get this.... Gdax is a trading exchange. Fees there are much much lower. In fact, if you select limit buy or limit sell, there is no fee. Another secret.... if you use a bank wire transfer directly to Gdax, then there is apparently no limit. I'd rather not say how much I transferred at once, but it was massively higher than Coinbase limit.
The coinbase account username and password is the same at Gdax. Even the 2 factor authentication is the same. So since you have a Coinbase account, all you need to do is set up Gdax. I recall that there was an additional identity verification that was needed for Gdax. Coinbase wallets and Gdax wallets are already linked. Transfers between the two are instantaneous and with zero fee.
Wallet transfers can be initiated at the Gdax wallet, but it if you want to see the status of the transfer, go to coinbase website. You will see the status there in the accounts page.
I hope this secret saves you a bunch of money and I hope you follow me. Thanks.
When I joined back in Aug-Sept, maximum was $500 per week, after a month or so, my limit was increased to $2,000 per week. A drawback yes, but it is easy ... and instantaneous to buy.
Yea they do it because they allow you to purchase coins with you credit/debit cards. They do this because a card sale can be declined or cancelled at our end by this time the coins could be long gone. The more you use coinbase and build reputation with them the more your limit grows.
@webcoop I'll let you in on a little secret. Coinbase is really not for trading. It is a simplified way to purchase cryptocurrency. The secret is that coinbase is a parent company of Gdax. Get this.... Gdax is a trading exchange. Fees there are much much lower. In fact, if you select limit buy or limit sell, there is no fee. Another secret.... if you use a bank wire transfer directly to Gdax, then there is apparently no limit. I'd rather not say how much I transferred at once, but it was massively higher than Coinbase limit.
The coinbase account username and password is the same at Gdax. Even the 2 factor authentication is the same. So since you have a Coinbase account, all you need to do is set up Gdax. I recall that there was an additional identity verification that was needed for Gdax. Coinbase wallets and Gdax wallets are already linked. Transfers between the two are instantaneous and with zero fee.
Wallet transfers can be initiated at the Gdax wallet, but it if you want to see the status of the transfer, go to coinbase website. You will see the status there in the accounts page.
I hope this secret saves you a bunch of money and I hope you follow me. Thanks.
Thank you very much for that very helpful little secret. Checking out Gdax.
Yeh, aussie banks getting scared. I use hitbtc but never really put in au deposit. Hitbtc has heaps of coins. I could not believe it.
When I joined back in Aug-Sept, maximum was $500 per week, after a month or so, my limit was increased to $2,000 per week. A drawback yes, but it is easy ... and instantaneous to buy.
I guess I will wait a month to get to a bigger limit. Thanks for that.
You got a 1.91% upvote from @postpromoter courtesy of @webcoop!
Yea they do it because they allow you to purchase coins with you credit/debit cards. They do this because a card sale can be declined or cancelled at our end by this time the coins could be long gone. The more you use coinbase and build reputation with them the more your limit grows.