Bitcoin Forum

Hi,

If I am going to order a miner from Bitmain, and only have a coinbase account, how do I pay Bitmain? I heard coinbase takes too long to make the transfer. I don't know what wallet to transfer my bitcoin too.

Please post suggestions.

Thanks,
Shawn

No, you simply send bitcoins from your Coinbase account to the address that it will give you.

I would think it's best to keep your bitcoins in your own wallet.  It's definitely best to pay from your own wallet.  If you ever need a refund on something the vendor will most likely send it to the Bitcoin address it came from and services have a tendency to change those addresses from time to time.  Your wallet and address are under your control and nobody elses.

Best to pay using a credit card for 2 reasons.
First is BTC could go up a crap load heh and second is you can easily do a charge back and VISA or who ever will help you.

Using BTC you have no recourse once you send it. Its gone and you just have to hope for the best.

Agree, but most manufacturer nowadays don't accept credit card.

Well best find a reliable one that does. Or at least use a Paypal!!

Coinbase is the best and safest exchange to use for US residents, while they do take a few days to get you verified, it is the easiest method. The next method would be to use localbitcoins.com to find a seller who will sell you bitcoins for either cash in person or paypal. Note that you will pay a bit of a premium with localbitcoins to offset the risk the seller takes. Also, note that using paypal for buying and selling bitcoins is likely to get either your account as a buyer suspended or the sellers paypal account suspended, so those willing to trade paypal for bitcoins is often a 25% or higher than market rate.

Some other tips:
- Avoid trying to get a prepaid cash card in trade for bitcoins, there have been problems with scammers and the process can be complicated. This includes money transfer services too.

- Stay away from group-buys for mining hardware, too many of them are not legit, so you can quickly lose your money.

- Only buy from well-trusted and known mining hardware suppliers directly. Re-sellers may have replaced factory parts or selling used and overclocked miners as new. Having a website doesn't make a company or a person "legit" remember to do your due diligence and research before purchasing.

- Stay away from pre-orders, either equipment won't ship, or when it does ship it doesn't meet expectations.

Do you even mine bro?  If the company is accepting Visa and not BTC you're gonna have a bad time.

Bitmain does not take credit cards .

If you are going to start mining coins into an  account, it would be a good idea to get a "FAT" wallet like Armory (start downloading now, it's gonna take awhile ;-).

I've rarely paid an invoice straight from a coinbase account but when I've transferred (like say into my own wallet) it has been timely enough.

open a wallet it is free.  here is a link

https://blockchain.info/



https://blockchain.info/wallet


learn to use it.

make a long password.

screen shot the password.

 take a photo of the screen


 transfer .01 btc  to it from your coinbase account

practice moving it back and forth

Never, I repeat, NEVER send bitcoins to make a purchase from an account you don't have direct control over!

Coinbase is great though. Send money to your Coinbase account, buy BTC, transfer it to your own wallet and then send to your vendor of choice.

Wallets...
https://bitcoin.org/en/choose-your-wallet

it's more safe if you have your own wallet, you can control by yourself, no one can interference you
it's just a simple way to make it in blockchain.info
thanks ...

As noted above, never send a payment from an exchange if you think that you might need a refund at a later time.  The person sending the refund will usually insist on sending coins back to the address they came from and the exchanges will not credit you for that payment.

I guess bitmine is a vendor you can trust.

Yes they are fine. Pay with btc, we are here to support bitcoin transactions right?
Just do it like you were advised, from your own wallet.

Sorry but I don't understand. What is the downside of sending a payment to Bitmain from my Coinbase wallet? Why should I use the wallet on my pc? If Bitmain refused to send a refund why would it matter what wallet I had used to pay them. If they send a refund wouldn't my wallet on coinbase accept it? I'm thinking of making my first purchase with Bitcoin from Bitmain.

Either Coinbase or PC based wallet like Electrum, Armory, Bitcoin core should work.

You should be able to pay in Bitcoin on Bitmain's website using any of these, just make you're sending to the right BTC Address.

If you are basically holding your bitcoins in your coinbase wallet so you don't have to worry about downloading the entire blockchain with bitcoin-qt and if your still worried about the amount of time it might take to pay your bitcoin invoice on bitmain you might want to consider transferring however many satoshi's you'll need to pay for the bitmain invoice over to a blockchain.info wallet.  Payments from blockchain.info in my experience has been a bit faster than when I pay for something out of coinbase wallet(s).  Additionally you have the benefit of your address basically being available immediately without having to wait 2-3 days for the blockchain to download to a local wallet.

overall, this is almost exactly what I did...
I did not get why you want to screen shot the password and then take photo of the screen...you lost me there

On coinbase you can actually send btc back to one of the addresses from which your payment originated.
At least it used to; I haven't used it for payment since it took more than an hour for the first confirm, transaction was cancelled, and although I squared it later with bitmain, I decided not to use coinbase for payments any more (unless they will improve).

I already downloaded a wallet and the blockchain. The only reason I can think of to use it is to keep my coin offline and safer. I dont keep more on coinbase than I could survive the loss of in the unlikely event that it would be stolen or lost. Am I missing a reason why using my wallet at home is better?

Whoops, missed the note about payment taking longer to confirm. Speaking of which, I use coinbase to convert/transfer bitcoin to my bank. It takes 3 to 4 business days. Is there any way to convert bitcoin to us dollars and have it show up in my bank account faster?

My bitcoin core wallet has a built in fee when I send bitcoin to coinbase and of course coinbase charges fees. What is the most cost effective way to move and convert bitcoin?

if i send bitcoin to btc.com wallet, can i then send bitcoin cash to bitmain? does the wallet transfer bitcoin to bitcoin cash?

Go to your bitmain account settings you should see your personal bitcoin wallet for bitmain. Then send money from your coinbase account to your bitmain personal wallet, after doing so, wait for the money to reflect in you bitmain account (the money you sent from coinbase) when the money reflected to your bitmain account then you may buy the miner you want to buy.