Investing

Bitcoin and Ether

  • Last Updated:
  • Nov 23rd, 2017 12:41 am
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Deal Addict
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Jul 6, 2010
2150 posts
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Toronto
Jimboski wrote:
Sep 9th, 2017 8:02 pm
Doesn't Coinbase require a US bank account? Also to think after failing once they would let you know what didn't pass the verification..
They accept credit card, never heard of US bank account restriction. The app just says "failed to read front side ID" or "failed to read back side id", picture is crystal clear.
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Jun 21, 2008
2206 posts
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Toronto
mapleleafs89 wrote:
Sep 9th, 2017 9:38 pm
They accept credit card, never heard of US bank account restriction. The app just says "failed to read front side ID" or "failed to read back side id", picture is crystal clear.
Was there an option to upload these files onto their website via computer?

I can't remember if I used the app or their website but I had no issues getting verified.

Coinbase honestly isn't that bad - they tend to have lower prices that are closer to the market values on coinmarketcap, and yes they have a very simple UI. They're good if you want to simply buy coins.

Now as for their fee's, I don't know how it'll compare to other exchanges like QuadrigaCX etc. Keeping in mind these exchanges charge a fee for funding, your bank will charge a fee for funding (say if you do a wire or something), and they take a fee for a transaction (ie. if you have a successful trade). And their market values tend to be higher than on coinbase.
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Jul 6, 2010
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Ticco wrote:
Sep 9th, 2017 10:11 pm
Was there an option to upload these files onto their website via computer?

I can't remember if I used the app or their website but I had no issues getting verified.

Coinbase honestly isn't that bad - they tend to have lower prices that are closer to the market values on coinmarketcap, and yes they have a very simple UI. They're good if you want to simply buy coins.

Now as for their fee's, I don't know how it'll compare to other exchanges like QuadrigaCX etc. Keeping in mind these exchanges charge a fee for funding, your bank will charge a fee for funding (say if you do a wire or something), and they take a fee for a transaction (ie. if you have a successful trade). And their market values tend to be higher than on coinbase.
Yeah through the website the only option I saw was to take photos using a webcam, any my built in webcam on my laptop screen is potato quality so it had no chance of working. I find the same, QuadrigaCX is expensive (few dollars more than other exchanges USD coverted to CAD), but I also like the convenience of interac online through RBC @ 1.5% fee. Previously I was using coinsquare which had 3.5% e-transfer and I had to wait a day or two to have it deposited and then they increased the fee to 5% so I looked elsewhere from then.
Deal Addict
Jun 21, 2008
2206 posts
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Toronto
Buggy166 wrote:
Sep 8th, 2017 2:38 pm
Red alert type of news:

China "MIGHT" ban all BTC exchanges:

https://www.cryptocoinsnews.com/flash-c ... ors-swirl/

On top of that, BTC support already weak above $4000 USD:

https://www.coindesk.com/breakout-bitco ... back-4000/

If an official press release comes out from China, expect BTC to flash crash in the $2000 range. Might be a good buying opportunity, but beware of catching a falling knife. This weekend and week ahead, keep your ears to the (under)ground as big players will know ahead of time and pull out of BTC ahead of the general population. That might end up triggering a downhill snowball effect, even if China never releases an official statement.
BTW - where do you guys get your underground information from ? Reddit? Bitcointalk? the above posted links?
Deal Addict
Mar 11, 2007
2883 posts
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QC
baz5 wrote:
Sep 9th, 2017 6:36 pm
Why do you sya way easier? I'm trying to make a guide for Canadians.
I've used Quadrigacx and was pretty easy. Had to verify ID for bigger interac purchase though.
Want to learn the issues of Coinbase.
Coinbase is instant. Quadrigacx, if you are not doin business with one of the four bank supported, it takes days to get money in it.
Jr. Member
Mar 2, 2011
154 posts
22 upvotes
Toronto
Ticco wrote:
Sep 9th, 2017 3:09 pm
What does the term chase mean ?

Buying too early during a dip?

LTC stuck around 60 and also 80 before it is surged. You think it could go back down to 60?
Basically fear of missing out. I dont know where it can go down to but very damn sure it has hard retraces after a rally
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Sep 14, 2008
1588 posts
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Winnipeg
jfmartel wrote:
Sep 9th, 2017 8:11 am
Coinbase is 4% but way easier then quadrigacx. You can buy with your CC.
Yeah if you get past the verification process. I've tried my drivers license, passport and pr card. None of them were recognized. Tried for months with a response taking 3-4 weeks from customer support. Search coinbase complaint or customer reviews you'll see what the user experience is like. Ps be careful of transaction fees when buying in usd. 2.5 % easily on most cards.
jfmartel wrote:
Sep 9th, 2017 11:21 pm
Coinbase is instant. Quadrigacx, if you are not doin business with one of the four bank supported, it takes days to get money in it.
My experience has been the exact opposite. Tried getting verified for 4 months by coin base no luck.

Not sure what method you are using but Quadrigas interac online is instantaneous to send funds across.
Lots of good options with no fees or as low as 1.5%. I wouldn't recommend using coinbase.
Deal Addict
Jun 21, 2008
2206 posts
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Toronto
samin62 wrote:
Sep 10th, 2017 4:37 am
Basically fear of missing out. I dont know where it can go down to but very damn sure it has hard retraces after a rally
And unless you're a skilled trader, and even for them it's hard to predict where the actual prices to will go to, if you are thinking long term then if you take a DCA approach I think it's alright to buy a little bit during these smaller pullbacks. If it plunges you hold and buy more - if you believe in your coins long term.
Deal Addict
Jun 21, 2008
2206 posts
238 upvotes
Toronto
mapleleafs89 wrote:
Sep 9th, 2017 10:31 pm
Yeah through the website the only option I saw was to take photos using a webcam, any my built in webcam on my laptop screen is potato quality so it had no chance of working. I find the same, QuadrigaCX is expensive (few dollars more than other exchanges USD coverted to CAD), but I also like the convenience of interac online through RBC @ 1.5% fee. Previously I was using coinsquare which had 3.5% e-transfer and I had to wait a day or two to have it deposited and then they increased the fee to 5% so I looked elsewhere from then.
Ok - I remember now. I signed up on the website but I uploaded my documents using my phone and their app on iOS - not sure if iOS vs Android vs webcam/PC makes a difference but it might.

Yea if I had access to interac online that'd be great - that's my limiting factor.

Speaking of coinbase - does anyone know why they sometimes deduct their fee and other times they add it to your total cost?

I always buy at $50 and sometimes they deduct $1.99 from my purchase (so I end up buying $48 worth of x) and other times they add $2 so i end up getting billed $52 on my credit card...
Deal Addict
Jun 21, 2008
2206 posts
238 upvotes
Toronto
bigjee wrote:
Sep 10th, 2017 8:16 am
Yeah if you get past the verification process. I've tried my drivers license, passport and pr card. None of them were recognized. Tried for months with a response taking 3-4 weeks from customer support. Search coinbase complaint or customer reviews you'll see what the user experience is like. Ps be careful of transaction fees when buying in usd. 2.5 % easily on most cards.



My experience has been the exact opposite. Tried getting verified for 4 months by coin base no luck.

Not sure what method you are using but Quadrigas interac online is instantaneous to send funds across.
Lots of good options with no fees or as low as 1.5%. I wouldn't recommend using coinbase.
I'd also recommend if you're a first time user and waiting around for a good time to get in, just try and fund your account now because your very first time using interac online isn't instant but will require manual approval and could take a few hours up to a day I think.
Deal Addict
User avatar
Sep 14, 2008
1588 posts
238 upvotes
Winnipeg
Buggy166 wrote:
Sep 8th, 2017 2:38 pm
Red alert type of news:

China "MIGHT" ban all BTC exchanges:

https://www.cryptocoinsnews.com/flash-c ... ors-swirl/

On top of that, BTC support already weak above $4000 USD:

https://www.coindesk.com/breakout-bitco ... back-4000/

If an official press release comes out from China, expect BTC to flash crash in the $2000 range. Might be a good buying opportunity, but beware of catching a falling knife. This weekend and week ahead, keep your ears to the (under)ground as big players will know ahead of time and pull out of BTC ahead of the general population. That might end up triggering a downhill snowball effect, even if China never releases an official statement.
Temporary dip. No need to panic. China doesn't even buy most of the bitcoins exchanged in the market anyway. Japan, us and Korea are the main backers.

There are other developments in the pipeline that will see Bitcoin rise to levels not seen before year end. China banning Bitcoin exchanges is good news for competitors as it solidifies their customer base. The Chinese govt. is backing other coins so it shouldn't come as a surprise.
Member
Sep 28, 2010
474 posts
100 upvotes
Surrey
bigjee wrote:
Sep 10th, 2017 8:38 am
Temporary dip. No need to panic. China doesn't even buy most of the bitcoins exchanged in the market anyway. Japan, us and Korea are the main backers.

There are other developments in the pipeline that will see Bitcoin rise to levels not seen before year end. China banning Bitcoin exchanges is good news for competitors as it solidifies their customer base. The Chinese govt. is backing other coins so it shouldn't come as a surprise.
I agree this is a temporary dip, and eventually the prices will go back up..but do you think there will be a price correction? A lot of people have been talking about it?
Deal Addict
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Jul 6, 2010
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Toronto
Time for some cheap LTC, hope it will rally back to 100 CAD dollars in next few weeks.
Sr. Member
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Nov 6, 2013
837 posts
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Toronto
Coinbase fees say 3.99% for CC but I only see fixed amounts like 1.49, 1.99, 2.99 regardless of amount.

It stays at 2.99 for 52 or 76. I was trying to find those slabs but there's nothing I could find anywhere.

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