Bitcon in CB

[longwu]

I am buying btc at www.coinbase.com ,do anything need to know about buying BTC at www.coinbase.com?

[1715435997]

1715435997

[1715435997]

1715435997

[NeuroticFish]

I am buying btc at www.coinbase.com ,do anything need to know about buying BTC at www.coinbase.com?

I didn't use Coinbase, but based on how centralized exchanges work, some things that come into my mind are:

* afaik Coinbase asks for KYC, make sure you pass that and don't get surprises when you want to withdraw
    (as alternative you can look for non-KYC exchanges, usually decentralized ones, but those need a different learning curve)

* depending on the amount you'll be buying the withdrawal fee from Coinbase to your own wallet may or may not hurt (it's a fixed fee and on small amounts to withdraw it can be seen as significant fee)
    (again, there's the already mentioned decentralized exchanges, but also the OTC exchanges which have worse exchange rates, but together with the withdrawal fees it may get less expensive for small amounts)


Sorry if I'm confusing you more than I help you. If you want to keep it simple: pass KYC first, don't withdraw very small amounts, instead withdraw after more smaller buys if it's the case.

[mk4]

It's a pretty reputable exchange, but it gets a bad rap among most Bitcoin communities because of the strict AML/KYC requirements. If you're fine with AML/KYC requirements, then go for it. On the other hand, go for the less convenient peer-to-peer exchanges(HodlHodl, LocalCryptos, etc).

[Maus0728]

They have been around for about a decade now, so I think they are pretty reliable. Then again, who cares? As long as you don't keep your bitcoin in Coinbase and transfer it to any mainstream hardware wallet -- you're fine.

No matter how large the exchange, as long as you limit your exposure to these risks (e.g., account freezing, bankruptcy, unable to have full control) by keeping your coins off of exchange as much as possible  -- you're good.

[DdmrDdmr]

<…>

Since you’re inquisitive about the Exchange, I’d also take a moment to do what most people never do: read a couple of times through the User agreement you’d normally happily wave-off with a simple click, alongside making sure that your country is supported. I’d also go through their Trading Fees and withdrawal fees & limits. Whilst being at it, regardless of the Exchange being used, I’d also go around the forum reading about self-custody and all that it entails.

[Charles-Tim]

On the other hand, go for the less convenient peer-to-peer exchanges(HodlHodl, LocalCryptos, etc).

I thought you knew Localcryptos is not rendering p2p exchanging of coins again. Localcryptos website now are referring people to Localbitcoins and Paxful which both require KYC. We should not refer people to the site again for decentralized exchange.

https://localcryptos.com/

If you click on the site now, you will see this:

LocalCryptos is winding down
LocalCryptos — the original non-custodial P2P crypto marketplace — has decided to wind down after five years, however there are other marketplaces where you can buy and sell crypto in a peer-to-peer fashion. Existing users can continue to use the LocalCryptos self-custodial wallet and settle existing escrows, however opening new trades has been disabled.

No Localcryptos again.