Rants and Raves:
After the last few days of experiencing very frustrating issues with Coinbase, I've come to the conclusion that their website and mobile app is an awful excuse for a trading platform. I'm starting to think that the message, "Error - Unfortunately, Coinbase is temporarily unavailable. Please check our status page for more details."
Except the details are always the same and the PROBLEMS PERSIST.
Coinbase Dishonesty?
I'm beginning to think that this is just a ploy to avoid volatility and turbulence in Bitcoin, Ethereum, & Litecoin. I'm a recent Ethereum enthusiast, having bought on Coinbase, but I'm starting to feel uneasy about my future investment transactions getting stuck on their glitchy and unresponsive site. If they want to charge extra money on credit for "Instant Buys", they need to have subsequent reliable support. If Ethereum price goes through the roof from 86 major corporations pledging their support, what will happen to Coinbase transactions? I can envision thousands of pending transactions while Coinbase has an error for days, only for us to find out we missed out on a major profit...
But then again, better to shake out the weak hands, right? Hold me hearties' for the profit of your lifetime and a future retirement fund!
One Bright Spot Of The Day:
Fidelity has announced they will soon support Bitcoin, Ethereum, and Litecoin in the near future. Good news for all of us crypto traders stuck on Coinbase. Nevertheless, this development will presumably be too late because of the exponential increase of Ethereum & Bitcoin.
https://www.ethnews.com/fidelity-introduces-digital-currencies-to-customers
Anyways, that's my rant today, leave your comment below or an upvote if you're in the same boat!
Why do you say you are "stuck on Coinbase"?
Move your coins to Jaxx! It has separate wallets for lots of currencies, including BTC, ETH, ETC, DSH, ICN, LTC, REP, ZEC, RSK, GNO, GNT, DGD, and BCAP. They are adding more all the time (I put in a plug for SP).
It has Shapeshifter on board, meaning you can convert freely between cryptos / wallets. It doesn't support any fiat (though it will give exchange rates for the supported cryptos in a ton of different fiats), so you need to buy elsewhere and send to Jaxx.
Lykke is a great option, too -- it supports BTC, LKK, SLR, TREE and TIME. It DOES permit trading from fiat(even gold or silver) to BTC and converting between crypto.
You could also use Abra or Gemini just as you use Coinbase now.
What do you think of those options -- would they help you out?
Too bad the SEC keeps swatting down the BTC ETF! The stock suckers could make a mint...
The ETF that will be deployed will most likely contain a basket of cryptos. That will make it more in line with ETFs, less volatile, and (potentially) safer for institutional and individual investors alike.
Eventually, though, you will see an equity based directly on a single currency, like FXY is to the yen, FXB to the Sterling, etc. I bet BTC will be the first to get one of those.
That makes good sense. I'm just blown away. I know NOTHING about tech. I'm a lab scientist and a mommy......but this blockchain thing fascinates me. We are able to really use this to our advantage. I'm loving saving $$ on things we need and use! And a few nice gifts and travel costs. I also love kicking the 'system' to the curb. SO glad I found this community of wise folks and thanks for churning out valuable information - I am learning SO much and passing on to family and friends. Hopefully, they can be smarter with it than I.
Aloha sir! Could you please tell me what is a good iPhone6 app I could use to buy Bitcoin and Ethereum from a debit or credit card. I'm very new to all of this and plain English is much appreciated. 😜😬😬 thank u! Aloha!
All of the wallets I mentioned are iOS apps! That's how I do it!
Again, to buy BTC with funds from your bank, I would recommend a wallet like Lykke, Abra, or Gemini.
You can deposit USD or the fiat ("normal" currency) of your choice and then convert in-app to BTC.
If you want to start trading between cryptos, you can do one of two things --
If you go the route of 1), you should be aware that it is recommended to remove your monies from an exchange, depositing them into a wallet, as exchanges are far less secure than wallets.
I trade on Bittrex and Liqui if I want a coin that is not available for trading w/i Lykke or Jaxx. If that coin cannot be stored in one of those two (such as ANS Antshares), then I have to keep it on the exchange or look for another wallet that works with that coin.
For now it is a complex process. AND THAT IS OUR BIGGEST ADVANTAGE. If you think BTC is pricey now, when the proverbial grandmother can do it, the prices will be stratospheric.
Good luck!
Thank u so very, very much! I don't trade, just wanna own some. I really appreciate your response! Aloha!
I don't use coinbase but know alot ofmpeople who do and it seams this is an ongoing issue... seams to like when btc and eth go up exchanges have issues witch is not good for cryptospace
Yeah, its a serious issue which will eventually lead to investment in a platform like Fidelity
I have not heard of Fidelity but will now look it to it
They just announced the rollout today actually!
I've noticed this too. If TD Ameritrade or ScottTrade acted like this, the DOW/S&P would CRASH!
They capitalize on the fact that they "make it easy to invest in Bitcoin". SMH
Thanks for the info. I had downloaded the coin base app, but being in Peru right now, they don't provide service here. I'll need a different exchange or wallet system that is more international.
I think ETHbits which should be up and running in the next week will give them a run for their money.. if you'll pardon the pun !
http://www.ethbits.com
Oh awesome! Will have to look at it!
It's an ethereum token based project.. & their copy trade function looks exciting.. you will be able to 'auto copy' the trades of a number of expert traders. they will in return receive a very small percentage of your profit, so the more followers they get the more they make ! it's a win, win situation and I think it will make their platform a massive success.. It will also be a great way for novice traders to watch learn and earn !
Solid platform it sounds like. Can't wait to see the growth played out in the future of the coin!
this is the new world of money.. by the time you read this bitcoin will have probably risen by $4.76 !! at some point it will settle down.. BLOCKCHAIN feels much bigger than apps and possibly as revolutionary as the internet itself. it's like the internet has been waiting for this all along ! vive la revolution
Yes, it is truly revolutionary the way that blockchain has made itself a formidable successor to the internet and its legacy for the past several decades!
yeah keep your eyes open and your hat on ! It's going to be one helluva ride..
I've spoken to people who've seen 10% rise in a mixed coin portfolio (DAILY).. of course that will correct itself but it's not just about the money.. it's the concept, DAPPS will change everything, from energy to governance and beyond. it might just save the world ! (which is the subject of my next post
It is looking like who ever can smooth out the transfer times is going to make a killing ... Rooting for ETHbits..
Same here
I've never really thought of Coinbase as a trading platform, it doesn't have a lot of the basic functionality that an actual exchange would have. It's more a beginners wallet and an on/off ramp to fiat currency. I use the bank transfers to avoid the higher credit card fee, and while they take several days I don't mind as I'm long term investing and not trying to time the markets or actively trade. I definitely wouldn't try to do either of these two things on Coinbase directly.
I'm fairly new to investing in crypto so I will need to explore other options. Do you use Coinbase exclusively?
I use Coinbase just to link to my actual bank account and transfer from/to USD. For trading coin to coin in a stock market type exchange I've used Poloniex a bit, though they are having severe growing pains and you'd find the same issues you're seeing on Coinbase when timing of the trade is critical. If I'm just sending some Bitcoin from Coinbase to Steemit (converting it to Steem) Blocktrades has always been easy and great, no account needed. And finally I just started playing around with OpenLedger. It's the exchange that is powered by Steem's "sister coin" Bitshares. It's really interesting. Pretty complicated to get to grips with but well worth it. It's a decentralized automatic exchange. I don't know why more people haven't switched over to it from places like Poloniex.
OMG! I got that same message except that has none and was trying to buy some ETH through them.
Good points in this blog. Same thoughts here. Investing in the cryptospace might come with a high risk but honestly I don't believe the risk is that high for the people who are daring to HOLD their coins for long. I found this great website: https://www.coincheckup.com I'm really enthusiastic about this site, they let you analyze every single coin out there.