Best wallet to receive bitcoin from a merchant ?

[FrugalFred]

If I had a merchant send me a large amount of bitcoin, should I have it sent to a wallet that has a low or high price ? Does it even matter. My 3 options are to have it sent to Gemini, coinbase or poloniex. If I were going to eventually send bitcoin from gemini to poloniex, should I just have it sent to polonoiex ?  Any help  greatly appreciated

[javalemcgee]

What do you mean high or low price? Do you mean transaction fee or what?

I was gonna say that you can try blockchain.info wallet, but I don't know what you ask for.

[FrugalFred]

currently, coinbase has bitcoin priced at 2651, gemini 2635, pooloniex 2565. Usually coinbase price > gemini > poloniex. Was wondering if it mattered where it was sent

[1Referee]

currently, coinbase has bitcoin priced at 2651, gemini 2635, pooloniex 2565. Usually coinbase price > gemini > poloniex. Was wondering if it mattered where it was sent

I understand that you like to have the highest possible price for your coins, but a higher or lower price doesn't say anything about the exchange in regards to security, functionality, accessibility, etc. I would advice you to avoid Poloniex since they strictly work with USDT [1]. Gemini and Coinbase (GDAX) are both perfectly fine.

[1] USDT, or Tether in other words, is an altcoin that was meant to hold a strict 1:1 value ratio with the USD, but this whole thing is flawed since it experiences minor volatility, and thus the whole purpose of its existence has gone to waste.

[FrugalFred]

Thanks, So it makes no difference when I receive bitcoin from a merchant when coinbase has a higher price than gemini ?

[avikz]

If I had a merchant send me a large amount of bitcoin, should I have it sent to a wallet that has a low or high price ? Does it even matter. My 3 options are to have it sent to Gemini, coinbase or poloniex. If I were going to eventually send bitcoin from gemini to poloniex, should I just have it sent to polonoiex ?  Any help  greatly appreciated

For a large amount of bitcoin, I personally wouldn't have used poloniex account. I would suggest you to go with either coinbase of blockchain.info wallet. I would stress on blockchain wallet because they are doing the business since the inception and the security features are quite good. Since they are doing business since long, you can at least keep trust on them, that they won't run away with your money.

However, if you have a plan to make a lot of small transactions in future, coinbase is best because they won't charge fees from you to send your bitcoin to other parties. 

[AT101ET]

It doesn't matter what the trading price is as ultimately you'd be getting the same amount of BTC wherever it is sent.
If the amount is significant then it's probably better not to send it to an exchange wallet but rather a wallet where you can control the private keys. Once you have the funds there you could then send any amount to different wallets and exchanges of your choosing.

[HongKong]

If I had a merchant send me a large amount of bitcoin, should I have it sent to a wallet that has a low or high price ? Does it even matter. My 3 options are to have it sent to Gemini, coinbase or poloniex. If I were going to eventually send bitcoin from gemini to poloniex, should I just have it sent to polonoiex ?  Any help  greatly appreciated

The safest Bitcoin wallet that you can possibly get is a Bitcoin wallet that downloaded to your desktop. If your Bitcoin wallet is not online then there is less of a chance of it getting hacked by someone who wanted your Bitcoins.
I wouldn’t do any business if someone knew where my merchant Bitcoin address was located if I had one.

[BitMaxz]

If I had a merchant send me a large amount of bitcoin, should I have it sent to a wallet that has a low or high price ? Does it even matter. My 3 options are to have it sent to Gemini, coinbase or poloniex. If I were going to eventually send bitcoin from gemini to poloniex, should I just have it sent to polonoiex ?  Any help  greatly appreciated

For a large amount of bitcoin, I personally wouldn't have used poloniex account. I would suggest you to go with either coinbase of blockchain.info wallet. I would stress on blockchain wallet because they are doing the business since the inception and the security features are quite good. Since they are doing business since long, you can at least keep trust on them, that they won't run away with your money.

However, if you have a plan to make a lot of small transactions in future, coinbase is best because they won't charge fees from you to send your bitcoin to other parties. 

I suggest more to use in electrum because you have fully control the fee when you are sending your bitcoin to another wallet.. but if the 3 only your option i'll go to coinbase instead even they are halving issue few hours ago they are still good to save your bitcoin for a long time and you sell them directly if your country listed in coinbase for withdrawals.
And i think you are right about blockchain i just heard few weeks ago halving trouble with blockchain that you can send to many in blockchain that is why some of campaign manager halving trouble when they are sending for their campaign participant.. so coinbase is the best choice..

[1Referee]

Thanks, So it makes no difference when I receive bitcoin from a merchant when coinbase has a higher price than gemini ?

Both exchanges have an exceptional track record, plus their exchange rates are close to each other, so in that regard, it doesn't really matter which one you choose to use. I must however note that you shouldn't be surprised if you end up having to walk yourself through their verification steps. It's all part of the game.

[Gotottack]

If you want to personally manage your funds, i.e. setting your own fees, mass payments, multi-signatures, then go with Electrum or other wallets and avoid those online ones.

But if you aim to move funds with less fees and less hassle of computing fees, then go with Poloniex. They are very reputable and they only charge a 0.0001 btc fee per withdrawal. You just have to deal with limits and them handling your funds. And if they see some fishy transactions they might freeze your account. Some considerations you should look into.

[ahmedjamal1998]

Well, there are two things.

1- When someone sends you bitcoins you're actually sent that certain amount of bitcoins and not $.
2- it'd be better if you have your own wallet maybe an online wallet such as Blockchain or an offline wallet like Multibit.

You shouldn't receive directly to an exchange especially if it's big amount(due to notorious activity of popular exchanges in the past - try googling mt gox scam)