@-v- I agree!! Should definitely look into that. @Ben759 Gyen was a hellhole, same thing happened to me which is why i agree with @-v- but the truth is as crooked CB might be and their customer service alone blows for a publicly traded company. They still are the most simple, accessible and fastest when it comes to new coin(s) access and doff choices of coins.
@Stewdamus yes you are completely right about the conversion, they do not take a coinbase fee etc. however, they do incorporate whatever gas fees into the conversion rate that you are recieving. You will not see it clearly but after doing some math you realize the rate of conversion is a bit higher than listed price (almost equivalent to market price). Therefore, it has to include gas/miner fees etc.
But because its almost so instant and definitely much cheaper to convert coin to coin it makes whatever conv. Rate you receive makes you realize converting on the app is much easier than buying and selling. The one thing I dont know though is how conversion work when it come unrealized gains/losses for tax purposes instead of buying and selling. hope that helped.
I would definitely open multiple brokerage accounts with others and get well versed on their interfaces and limitations. I resisted this for a long time but just the lack of opportunities with newer coins left me wanting more. CB has also been very slow to open my business account. I’ve been with CB since 2014. Good luck!
They did the same to me, I was locked out for 2 weeks which ultimately saved me from myself as I was going to move assets and a flash crash happened. Yes, you can select your asset in the portfolio on CB PRO and transfer back and forth between regular and pro (Withdraw & Deposit) you can transfer to other coins at no fee. There is a daily limit that will lock if you exceed it, so watch that, and fyi a trade is a trade it's still taxed no matter what.
Sorry to hear this and thanks for the warning. Sorry to break it to you but I have been using this conversion workaround for certain coins that only pair with USD (which is not available in the UK). Yesterday I played the levels with BLZ. There is a spread of c. 2.5%. So converting BLZ to USDC and back again turned a 10% gross profit into 5%…
Coinbase locked up a chunck of my money due to their shut down of GYEN for a month without explanation as to when I would have access to my money or compensation for loss opportunities during that time.
You mentioned that you might be moving your investing to another broker. Amy development on that idea, that is comparable to coinbase but better?
@-v- I agree!! Should definitely look into that. @Ben759 Gyen was a hellhole, same thing happened to me which is why i agree with @-v- but the truth is as crooked CB might be and their customer service alone blows for a publicly traded company. They still are the most simple, accessible and fastest when it comes to new coin(s) access and doff choices of coins.
@Stewdamus yes you are completely right about the conversion, they do not take a coinbase fee etc. however, they do incorporate whatever gas fees into the conversion rate that you are recieving. You will not see it clearly but after doing some math you realize the rate of conversion is a bit higher than listed price (almost equivalent to market price). Therefore, it has to include gas/miner fees etc.
But because its almost so instant and definitely much cheaper to convert coin to coin it makes whatever conv. Rate you receive makes you realize converting on the app is much easier than buying and selling. The one thing I dont know though is how conversion work when it come unrealized gains/losses for tax purposes instead of buying and selling. hope that helped.
I would definitely open multiple brokerage accounts with others and get well versed on their interfaces and limitations. I resisted this for a long time but just the lack of opportunities with newer coins left me wanting more. CB has also been very slow to open my business account. I’ve been with CB since 2014. Good luck!
They did the same to me, I was locked out for 2 weeks which ultimately saved me from myself as I was going to move assets and a flash crash happened. Yes, you can select your asset in the portfolio on CB PRO and transfer back and forth between regular and pro (Withdraw & Deposit) you can transfer to other coins at no fee. There is a daily limit that will lock if you exceed it, so watch that, and fyi a trade is a trade it's still taxed no matter what.
Sorry to hear this and thanks for the warning. Sorry to break it to you but I have been using this conversion workaround for certain coins that only pair with USD (which is not available in the UK). Yesterday I played the levels with BLZ. There is a spread of c. 2.5%. So converting BLZ to USDC and back again turned a 10% gross profit into 5%…
Coinbase locked up a chunck of my money due to their shut down of GYEN for a month without explanation as to when I would have access to my money or compensation for loss opportunities during that time.
You mentioned that you might be moving your investing to another broker. Amy development on that idea, that is comparable to coinbase but better?