Circle Account USD or BTC Balance?

[viking02]

I created circle account.  I then transferred funds from electrum to circle very small amount.  I then saw a usd balance transfer as oppose to btc.  I then looked and saw my default acct is usd as oppose to btc.  Do people here who use circle default acct is usd or btc?  Did many of you change it to btc or usd depending what you want? 


Im guessing most of you keep your circle accounts in btc as oppose to usd?

[Velkro]

Its your choice, all i can say it suprised everyone that circle SUGGESTING stongly to convert to USD.
Don't fall for that, do what U want.

[quantumgravity]

I've never used circle. I usually do any BTC to USD transactions in person.

[viking02]

Im confused here.  So i transfer about 250 dollars from my electrum to my circle account.  My account is in USD, thus the default currency.    I then transferred it to my bank of america and it say it will take a few days for the funds to show up there.  I know its an ACH transfer.


So if i change my currency to btc, i know when sending btc from electrum to circle will show btc amount in my wallet.  However, the moment i decide to make a withdraw to my bank of america, it will then tell me what the conversion would be and ask me yes or no... then once i say yes... then it will send the usd amount to my bank account?  But if i decline, then nothing happens?


Another thing but is the btc rate selling higher on circle then coinbase?  It showed 313 usd... whereas coinbase shows 307 as the selling rate?

[ShetKid]

Another thing but is the btc rate selling higher on circle then coinbase?  It showed 313 usd... whereas coinbase shows 307 as the selling rate?

Price depends on what exchange you are using and depends on sellers and buyers. In this case the buyers ould be buying more on it to drive price up.

[medUSA]

Im guessing most of you keep your circle accounts in btc as oppose to usd?

I don't have a Circle account. I didn't like their move to wash out every word of "bitcoin" from their website. I am interested to know how the Circle wallet works now. If my account is set to USD, when I receive BTC into my address, is my BTC automatically sold at the market rate and credit to my USD balance? or Does it still hold my asset in BTC and only shows the approx value in USD?

[Mickeyb]

Im guessing most of you keep your circle accounts in btc as oppose to usd?

I don't have a Circle account. I didn't like their move to wash out every word of "bitcoin" from their website. I am interested to know how the Circle wallet works now. If my account is set to USD, when I receive BTC into my address, is my BTC automatically sold at the market rate and credit to my USD balance? or Does it still hold my asset in BTC and only shows the approx value in USD?

Yes, you choose is your account by default in BTC or in USD. If it is in USD, every time you send bitcoins to your account, they will get automatically converted.

If your account is in BTC and you try to do a bank transfer you will get a confirmation window by asking you to convert BTC to USD before the withdrawal takes place.

[medUSA]

If your account is in BTC and you try to do a bank transfer you will get a confirmation window by asking you to convert BTC to USD before the withdrawal takes place.

Thanks. So it's still possible to use it as a pure BTC wallet. Judging from their trend, will not be surpriced if the BTC wallet option could soon be removed. Circle is the first bitcoin startup to receive New York's BitLicense and also backed by Goldman Sachs, it's a complete waste of the licence if they do.

[Mickeyb]

If your account is in BTC and you try to do a bank transfer you will get a confirmation window by asking you to convert BTC to USD before the withdrawal takes place.

Thanks. So it's still possible to use it as a pure BTC wallet. Judging from their trend, will not be surpriced if the BTC wallet option could soon be removed. Circle is the first bitcoin startup to receive New York's BitLicense and also backed by Goldman Sachs, it's a complete waste of the licence if they do.

Yes it is. You can use it as a pure BTC wallet or as a sort of online bank wallet denominated in USD.

Honestly, it would be pure BS if they are to drop a BTC wallet option. What would they be then? A service to hold your money? Well I have my bank and online banking for this! That's why I don't think they will drop this option, especially since they have BitLicense as you have said.

[wayayo]

Its differs in opinion  mostly transfers done in USD but btc  is worthy compare to usd

[wayayo]

Its differs in opinion  mostly transfers done in USD but btc  is worthy compare to usd

[medUSA]

Honestly, it would be pure BS if they are to drop a BTC wallet option. What would they be then? A service to hold your money? Well I have my bank and online banking for this! That's why I don't think they will drop this option, especially since they have BitLicense as you have said.

I am not saying they should (I would be disappointed too). Honestly I don't know what Circle wants to transform itself into. The way they removed every mention of the word "bitcoin" from their website, and wallets default into USD mode, made me think they want users to use USD as the sole unit of account, which is simpler for tax purposes in the US.