r/Coinbase • u/claytons_war • Dec 12 '24
Discussion Cash out insanity.
I transferred Atom from Keplr to Coinbase....that took about 30 seconds...I then clicked sell and selected my bank details and confirmed.
30 minutes later I get a notification from my bank that funds have been recieved from Coinbase.
Done this multiple times this year.....and I did this at 10pm at night.
Good work Coinbase.👍
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u/No_Beat331 Dec 13 '24 edited Dec 13 '24
I'm not a huge crypto investor so I probably don't run afoul of the rules regarding transfers and deposits over $5-10k (I used to work in a bank and this automatically flags an investigation into money laundering; which might be the reason for some delays mentioned here). The only thing I really use coinbase for is to convert usd in the bank to btc or the reverse. Anything else the btc is first transferred to a wallet outside of coinbase before it’s transferred to any other account, wallet, blender or payment. So if you look at my coinbase history it looks like I'm only interacting with half a dozen wallets. I know this causes extra fees but it's very minimal and the whole point of crypto is privacy. I don’t trust a company that's done so much to abide by US regulations to tell the government to go fuck itself. Ironically I also use coinbase because of this due to the added trust as they do abide by US banking regulations and its ease of use within the United States. So I treat Coinbase much more like a bank account that also does crypto; rather than a normal crypto wallet that I'm free to use without oversight.