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philwynk

Is Coinbase truly this lame?

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Newbie here. I've got ETH on Coinbase and XRP on Kraken.

I just bought a small amount of btc intending to convert it to eth on Coinbase. When I went to do the transaction, I discovered that (so far as I can tell) Coinbase has no facility for selling the btc in my wallet and then buying eth with it, nor for trading coins for coins. It has a connection to my bank account, but if I sell btc there it will take the proceeds and deposit them in the bank account.

Have I understood this correctly? There's really no coin pairs there? I can't use btc to buy eth? I can't sell the btc and use the proceeds up there on Coinbase to buy eth? I have to hit my own, personal bank account? 

I wound up transferring the btc to Kraken (which takes several hours; thanks, bitcoin, you unwieldy beast, you) where I can easily sell my btc and buy whatever the heck I want with the proceeds without shipping my cash around the world. But I'm aghast at how lame Coinbase is, if I'm understanding my options correctly.

Anybody know  enough about Coinbase to tell me if there's an easier way?

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coinbase has there own exchange i believe its called gdax , once you setup at gdax you can see your coinbase wallets and trade from there .. or send to your own wallets or other exchanges , carefull with the btc on coinbase its  got some high transfer fee transactions costs .. cheaper to go through gdax .. 

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You can use Coinbase to sell BTC into Coinbase's USD wallet, and then purchase ETH using funds in that wallet without having to round trip through your bank.  Having said that, I would not recommend using that approach unless you are completely desperate because CB's buy/sell fees will cost you more than just a pretty penny in any such given roundtrip.

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I used coinbase for a good amount of trades. ETH being sent to binance took around 10 minutes maximum for me at first. Than before they announced the slower send times the past week I put in more ETH to send to Binance and it took 20 hours. Given ETH spiked high that night I didn't care but if it went the other way that would've been bad news bears.

 

I like coinbase but they need to input an option of a more instant cancellation if the send is taking 20+ hours.

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11 minutes ago, iamsik said:

coinbase has there own exchange i believe its called gdax , once you setup at gdax you can see your coinbase wallets and trade from there .. or send to your own wallets or other exchanges , carefull with the btc on coinbase its  got some high transfer fee transactions costs .. cheaper to go through gdax .. 

I'll look for it. Thanks.

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You need to transfer from coinbase to GDAX.  Your account is the same for both.  Log into gdax and deposit the coin from your coinbase account to gdax and trade away.

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16 minutes ago, weibs said:

 

 

36 minutes ago, philwynk said:

Newbie here. I've got ETH on Coinbase and XRP on Kraken.

I just bought a small amount of btc intending to convert it to eth on Coinbase. When I went to do the transaction, I discovered that (so far as I can tell) Coinbase has no facility for selling the btc in my wallet and then buying eth with it, nor for trading coins for coins. It has a connection to my bank account, but if I sell btc there it will take the proceeds and deposit them in the bank account.

Have I understood this correctly? There's really no coin pairs there? I can't use btc to buy eth? I can't sell the btc and use the proceeds up there on Coinbase to buy eth? I have to hit my own, personal bank account? 

I wound up transferring the btc to Kraken (which takes several hours; thanks, bitcoin, you unwieldy beast, you) where I can easily sell my btc and buy whatever the heck I want with the proceeds without shipping my cash around the world. But I'm aghast at how lame Coinbase is, if I'm understanding my options correctly.

Anybody know  enough about Coinbase to tell me if there's an easier way?

 Much cheaper to buy ETH than BTC to exchange on Binance.  I bought ETH this morning  on CB and exchanged it for XRP and it went through in about 10 minutes or so. 

Edited by Champipple

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I did what I needed to do on Kraken. I now own 150 more XRP, 300 lumens, and another .25 ETH or so.

I did find GDAX, but I'm having some technical difficulties getting certified there. I'll pick that up another day. 

Thanks for all the assistance, folks.

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