Bitcoin

[ViperStripes]

I have just looked into coinbase, the main issues I see people having are with actually withdrawing funds(which is a big concern!) has anyone any feedback on this?

Just starting the withdrawal process today. So far:
1) You need to connect a bank account (not debit card) so that means making an IBAN payment to an Estonian bank account for 6 Euro which they then give you back. That arrived in 1 hour and I received email confirmation.
2) They say it will then take 1 to 2 business days to Verify my account and then 4 -5 days to transfer my withdrawal. Will update this thread when it arrives.

[Dodge_r]

Just starting the withdrawal process today. So far:
1) You need to connect a bank account (not debit card) so that means making an IBAN payment to an Estonian bank account for 6 Euro which they then give you back. That arrived in 1 hour and I received email confirmation.
2) They say it will then take 1 to 2 business days to Verify my account and then 4 -5 days to transfer my withdrawal. Will update this thread when it arrives.

I opened an account on Revolut and it was really simple. You can do native SEPA payments from it and converting between GBP/EUR is really easy.

I saved myself all the pain I read about from the various reviews doing it this way rather than from my UK bank...

[scucivolo]

I opened an account on Revolut and it was really simple. You can do native SEPA payments from it and converting between GBP/EUR is really easy.

I saved myself all the pain I read about from the various reviews doing it this way rather than from my UK bank...

I’m also a Revolut user, but how can you link your account to Coinbase?
I thought you could only receive money that way, not send it..

Mind posting a little “Guide”
Thank you


Sent from my iPhone using Tapatalk

[bambam]

I’m also a Revolut user, but how can you link your account to Coinbase?
I thought you could only receive money that way, not send it..

Mind posting a little “Guide”
Thank you


Sent from my iPhone using Tapatalk

That would be really useful. If there's a good way to fund your Coinbase account via Revolut (and get the benefit of the Revolut GBP/EUR rate) that would be really useful.

[ViperStripes]

I’m also a Revolut user, but how can you link your account to Coinbase?
I thought you could only receive money that way, not send it..

Mind posting a little “Guide”
Thank you


Sent from my iPhone using Tapatalk

I'm a Revolut user too, but don't see how I can make Coinbase withdrawals using it? Please explain step by step.

[Christian]

I’m really new to this and the complexity of buying and withdrawing your cash has put me off so far.

A colleague explained to avoid fees, set up a fire.com bank account. This effectively gives you a working euro account. He then uses revolution to turn GBP into euro to feed this account and buy your bitcoin from it. You can also withdraw from coin base into it.

Haven’t done it myself yet, so I cant verify the above.

[Dodge_r]

I'm a Revolut user too, but don't see how I can make Coinbase withdrawals using it? Please explain step by step.

So this will probably look harder than what it is, but is easier in practice.

Revolut
1) Open a Revolut EUR account [this way you get the correct IBAN and BIC details]
2) Convert GBP into EUR
3) Select 'Send Money' [the big pink button on the app]
4) Select 'bank transfer'
5) Enter account details found on the Coinbase app
6) Send at least 6 euro to Coinbase using your unique Coinbase ID [this is the important bit!]

Then wait for the transfer and for Coinbase to update your account. My Revolut and Coinbase accounts were then linked within a day.

Coinbase
1) Sell whatever Crypto you hold
2) This is deposited into your EUR wallet
3) Click withdraw on your EUR wallet
4) Your Revolut EUR details will be automatically added
5) Confirm
6) Wait for the transfer

Revolut
1) Receive funds and keep in EUR or convert to GBP.
2) Once in GBP - withdraw to your normal bank account.

So it's really clunky to buy and sell digital currency but it's easier to do it than what it looks.

I tried it with a few small amounts as a proof of concept first and it worked perfectly. I'm hoping when the process becomes easier to buy cryptos, the price will shoot up even more as it becomes more accessible.

Hope this helps!

Edit: Once the accounts are linked, you can fund or withdraw really easily as an established beneficiary...

[Neil.Ldn]

Thanks for the Revolut tips ^^^, very useful, trying it out now.

[bambam]

So this will probably look harder than what it is, but is easier in practice.

Revolut
1) Open a Revolut EUR account [this way you get the correct IBAN and BIC details]
2) Convert GBP into EUR
3) Select 'Send Money' [the big pink button on the app]
4) Select 'bank transfer'
5) Enter account details found on the Coinbase app
6) Send at least 6 euro to Coinbase using your unique Coinbase ID [this is the important bit!]

Then wait for the transfer and for Coinbase to update your account. My Revolut and Coinbase accounts were then linked within a day.

Coinbase
1) Sell whatever Crypto you hold
2) This is deposited into your EUR wallet
3) Click withdraw on your EUR wallet
4) Your Revolut EUR details will be automatically added
5) Confirm
6) Wait for the transfer

Revolut
1) Receive funds and keep in EUR or convert to GBP.
2) Once in GBP - withdraw to your normal bank account.

So it's really clunky to buy and sell digital currency but it's easier to do it than what it looks.

I tried it with a few small amounts as a proof of concept first and it worked perfectly. I'm hoping when the process becomes easier to buy cryptos, the price will shoot up even more as it becomes more accessible.

Hope this helps!

Edit: Once the accounts are linked, you can fund or withdraw really easily as an established beneficiary...

On step 1 - Open EUR Revolut account, is that where you go into Accounts, press Add Account and then select EUR and then press Activate? Then Activating gets you the IBAN and BIC details?

Thanks

[Dodge_r]

On step 1 - Open EUR Revolut account, is that where you go into Accounts, press Add Account and then select EUR and then press Activate? Then Activating gets you the IBAN and BIC details?

Thanks

Yes that's exactly it.

Happy to help anyone with any other questions on this. I stumbled upon Revolut as a random recommendation after depositing to Coinbase and then realising I couldn't easily withdraw my money!

[ViperStripes]

So this will probably look harder than what it is, but is easier in practice.

Revolut
1) Open a Revolut EUR account [this way you get the correct IBAN and BIC details]
2) Convert GBP into EUR
3) Select 'Send Money' [the big pink button on the app]
4) Select 'bank transfer'
5) Enter account details found on the Coinbase app
6) Send at least 6 euro to Coinbase using your unique Coinbase ID [this is the important bit!]

Then wait for the transfer and for Coinbase to update your account. My Revolut and Coinbase accounts were then linked within a day.

Coinbase
1) Sell whatever Crypto you hold
2) This is deposited into your EUR wallet
3) Click withdraw on your EUR wallet
4) Your Revolut EUR details will be automatically added
5) Confirm
6) Wait for the transfer

Revolut
1) Receive funds and keep in EUR or convert to GBP.
2) Once in GBP - withdraw to your normal bank account.

So it's really clunky to buy and sell digital currency but it's easier to do it than what it looks.

I tried it with a few small amounts as a proof of concept first and it worked perfectly. I'm hoping when the process becomes easier to buy cryptos, the price will shoot up even more as it becomes more accessible.

Hope this helps!

Edit: Once the accounts are linked, you can fund or withdraw really easily as an established beneficiary...

Revolut step 6 didn't work....Revolut gave me a message when I clicked Send saying "Request for your bank transfer has failed. Beneficiary is not allowed"

Seems it's not just me:
https://community.revolut.com/search?q=pay%20coinbase

So really curious how you did it.

[Dodge_r]

Revolut step 6 didn't work....Revolut gave me a message when I clicked Send saying "Request for your bank transfer has failed. Beneficiary is not allowed"

Seems it's not just me:
https://community.revolut.com/search?q=pay%20coinbase

So really curious how you did it.

That's really strange, I've sent thousands to my account and a little bit back into Revolut, in fact I sent EUR400 less than a week ago... I've cut out the identifying details, but it's really odd than I can do it unimpeded and you can't...

[scucivolo]

So this will probably look harder than what it is, but is easier in practice.

Revolut
1) Open a Revolut EUR account [this way you get the correct IBAN and BIC details]
2) Convert GBP into EUR
3) Select 'Send Money' [the big pink button on the app]
4) Select 'bank transfer'
5) Enter account details found on the Coinbase app
6) Send at least 6 euro to Coinbase using your unique Coinbase ID [this is the important bit!]

Then wait for the transfer and for Coinbase to update your account. My Revolut and Coinbase accounts were then linked within a day.

Coinbase
1) Sell whatever Crypto you hold
2) This is deposited into your EUR wallet
3) Click withdraw on your EUR wallet
4) Your Revolut EUR details will be automatically added
5) Confirm
6) Wait for the transfer

Revolut
1) Receive funds and keep in EUR or convert to GBP.
2) Once in GBP - withdraw to your normal bank account.

So it's really clunky to buy and sell digital currency but it's easier to do it than what it looks.

I tried it with a few small amounts as a proof of concept first and it worked perfectly. I'm hoping when the process becomes easier to buy cryptos, the price will shoot up even more as it becomes more accessible.

Hope this helps!

Edit: Once the accounts are linked, you can fund or withdraw really easily as an established beneficiary...

About step 6.. what do you mean by “using your Coinbase ID”?

I just did the whole thing, using the details Coinbase has provided me.. received an email from Revolut saying that the transaction was being processed.. and then after about ~30mins a second email arrived stating that the transaction was successful.. opened up Coinbase, to find nothing!

is it a matter of time? Or did I do something wrong?

Thank you


Sent from my iPhone using Tapatalk

[Dodge_r]

Can you do a screenshot of the Coinbase Account details you set it up with please (in Revolut)? Obviously blank out your Coinbase ID.

- - - Updated - - -

Can you do a screenshot of the Coinbase Account details you set it up with please (in Revolut)? Obviously blank out your Coinbase ID.

I'm away from my computer, but it's just the standard Coinbase account details when you press 'deposit' on your EUR wallet. I copied them over from Coinbase into Revolut and it's now saved as a beneficiary, so it takes seconds to send my Coinbase account more money.

About step 6.. what do you mean by “using your Coinbase ID”?

I just did the whole thing, using the details Coinbase has provided me.. received an email from Revolut saying that the transaction was being processed.. and then after about ~30mins a second email arrived stating that the transaction was successful.. opened up Coinbase, to find nothing!

is it a matter of time? Or did I do something wrong?

Thank you


Sent from my iPhone using Tapatalk

If you've had the e-mail from Coinbase you will have entered the correct details, otherwise they would have just received an anonymous payment. But the Coinbase ID is the reference you get when pressing the 'Deposit' button on your EUR wallet. Strange that it didn't appear instantly once you had the email however.