BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > BIMMERPOST Universal Forums > Off-Topic Discussions Board
 
Steve Thomas BMW
Post Reply
 
Thread Tools Search this Thread
      12-13-2017, 12:17 PM   #1
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Bitcoin Apps

So which Bitcoin app is best in the App Store?
Appreciate 0
      12-13-2017, 12:36 PM   #2
upstatedoc
Has a sh!t load of pew pews
upstatedoc's Avatar
718
Rep
1,854
Posts

Drives: '09 BMW 328ix
Join Date: Dec 2009
Location: Crisp, Baconia

iTrader: (2)

Banned
__________________
2014 Dodge Durango R/T //Diablosports Tuning
2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/
Countermeasure enthusiast.
Quote:
Originally Posted by jgoens View Post
I was thinking of foaming that hole as well.
Appreciate 0
      12-13-2017, 02:02 PM   #3
so0fresh
Enlisted Member
United_States
13
Rep
45
Posts

Drives: BMW M3
Join Date: Feb 2017
Location: Long Beach,CA

iTrader: (0)

coinbase
Appreciate 0
      12-13-2017, 02:18 PM   #4
CTinline-six
Winning
CTinline-six's Avatar
United_States
558
Rep
626
Posts

Drives: 2000 Jeep XJ, 2006 BMW 325xi
Join Date: Dec 2016
Location: Connecticut

iTrader: (0)

The ones that give all your info to hackers. Those seem to work the best.
__________________
Josh
Appreciate 1
Lups10625

      12-13-2017, 03:44 PM   #5
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

I was looking at Coinbase seems pretty good.
Appreciate 0
      12-13-2017, 05:26 PM   #6
elkid23
New Member
2
Rep
16
Posts

Drives: AW F80 M3
Join Date: Oct 2012
Location: NYC

iTrader: (0)

Coinbase is very easy to use and secure (from what I understand). Transactions on the BTC blockchain tend to take about a week to verify, but that's regardless of the exchange. Once you purchase, you lock in the rate so that's a plus. Good luck!
Appreciate 0
      12-13-2017, 05:30 PM   #7
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Quote:
Originally Posted by elkid23 View Post
Coinbase is very easy to use and secure (from what I understand). Transactions on the BTC blockchain tend to take about a week to verify, but that's regardless of the exchange. Once you purchase, you lock in the rate so that's a plus. Good luck!
Thanks! Yeah as long as the rate is locked in its cool. I've linked my credit card for now not sure if I should link my checking account maybe later. I can transfer funds from my brokerage to my checking account instantaneously so that would be the way to go to invest large amounts and retire early or buy a mansion among other things.
Appreciate 0
      12-13-2017, 06:04 PM   #8
Lowkey F10
Private
Lowkey F10's Avatar
10
Rep
73
Posts

Drives: 2011 550i
Join Date: Oct 2017
Location: Arizona

iTrader: (0)

I’d use BitPay to hold your bitcoins and Coinbase to purchase. I don’t recommend holding BTC into coinbase since there have been a lot of reports about missing BTC
Appreciate 0
      12-13-2017, 06:23 PM   #9
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Quote:
Originally Posted by Lowkey F10 View Post
I’d use BitPay to hold your bitcoins and Coinbase to purchase. I don’t recommend holding BTC into coinbase since there have been a lot of reports about missing BTC
Yes I heard about using your own wallet rather than Coinbase I'll have to look into that. Do you recommend a physical device or in the cloud, I assume in the cloud? Since it could be easy to lose a physical device.
Appreciate 0
      12-13-2017, 06:48 PM   #10
Lowkey F10
Private
Lowkey F10's Avatar
10
Rep
73
Posts

Drives: 2011 550i
Join Date: Oct 2017
Location: Arizona

iTrader: (0)

Quote:
Originally Posted by bimmer456 View Post
Yes I heard about using your own wallet rather than Coinbase I'll have to look into that. Do you recommend a physical device or in the cloud, I assume in the cloud? Since it could be easy to lose a physical device.
Always better to get hardware based.

What I do is I have the BitPay app on my iPhone and my PC, and they give you about 10 words to remember as your backup phrase which I keep in my notes on my iPhone. I also save all private keys into my phone and everything else since there’s a 99% chance that they’re safe even if your phone gets stolen (provided you have a passcode)
Appreciate 0
      12-13-2017, 06:58 PM   #11
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Quote:
Originally Posted by Lowkey F10 View Post
Quote:
Originally Posted by bimmer456 View Post
Yes I heard about using your own wallet rather than Coinbase I'll have to look into that. Do you recommend a physical device or in the cloud, I assume in the cloud? Since it could be easy to lose a physical device.
Always better to get hardware based.

What I do is I have the BitPay app on my iPhone and my PC, and they give you about 10 words to remember as your backup phrase which I keep in my notes on my iPhone. I also save all private keys into my phone and everything else since there’s a 99% chance that they’re safe even if your phone gets stolen (provided you have a passcode)
Okay. I also turned on two factor authentication on my gmail as I read an article of someone hacking Coinbase through a password reset through Verizon or something like that and having two factor authentication would prevent the hack from working.
Appreciate 0
      12-13-2017, 07:27 PM   #12
Lowkey F10
Private
Lowkey F10's Avatar
10
Rep
73
Posts

Drives: 2011 550i
Join Date: Oct 2017
Location: Arizona

iTrader: (0)

Quote:
Originally Posted by bimmer456 View Post
Okay. I also turned on two factor authentication on my gmail as I read an article of someone hacking Coinbase through a password reset through Verizon or something like that and having two factor authentication would prevent the hack from working.
Yeah always have 2FA on everything you possibly can. It’s being more and more known to bigger sites too due to how good 2FA security is
Appreciate 0
      12-13-2017, 10:46 PM   #13
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Quote:
Originally Posted by Lowkey F10 View Post
Yeah always have 2FA on everything you possibly can. It’s being more and more known to bigger sites too due to how good 2FA security is
So it looks like the verification of identity is having issues on the site and mobile app so I'll have to wait to sign up. What's the process of creating your own wallet that you use?
Appreciate 0
      12-14-2017, 12:18 AM   #14
Lowkey F10
Private
Lowkey F10's Avatar
10
Rep
73
Posts

Drives: 2011 550i
Join Date: Oct 2017
Location: Arizona

iTrader: (0)

Quote:
Originally Posted by bimmer456 View Post
So it looks like the verification of identity is having issues on the site and mobile app so I'll have to wait to sign up. What's the process of creating your own wallet that you use?
Simple and easy. I highly recommend BitPay. It’s secure and safe and no identity needed to be provided
Appreciate 0
      12-14-2017, 12:43 AM   #15
stylinexpat
Major
stylinexpat's Avatar
210
Rep
1,186
Posts

Drives:
Join Date: Aug 2008

iTrader: (0)

Best to have a separate device with nothing else on it for any Cryptocurrency Trading.
Appreciate 0
      12-14-2017, 01:59 AM   #16
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Quote:
Originally Posted by stylinexpat View Post
Best to have a separate device with nothing else on it for any Cryptocurrency Trading.
How do you do this with coinbase? Any device you recommend?
Appreciate 0
      12-14-2017, 12:06 PM   #17
Hawkeye
Brigadier General
Hawkeye's Avatar
No_Country
258
Rep
3,840
Posts

Drives: '07 Z4 si Coupe, '08 R6
Join Date: Aug 2007
Location: Iowa

iTrader: (0)

Garage List
Quote:
Originally Posted by bimmer456 View Post
Thanks! Yeah as long as the rate is locked in its cool. I've linked my credit card for now not sure if I should link my checking account maybe later. I can transfer funds from my brokerage to my checking account instantaneously so that would be the way to go to invest large amounts and retire early or buy a mansion among other things.
you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.
__________________
2007 Z4 3.0si Coupe • 6 MT • Black Saphire Metallic • PP • SP • Heated M Seats • Clutch Stop • Stubby
2008 R6 • Raven Black • GPR Steering Stabilizer • Comp Werks FE • Hotbodies Flush Mount Blinkers
2016 GMC Sierra SLT Z71 Premium Plus 4x4 • K&N CAI • Toyo G2 LT305/55R20
Appreciate 0
      12-14-2017, 12:16 PM   #18
rad doc
Lieutenant
82
Rep
413
Posts

Drives: 1M AW loaded
Join Date: May 2011
Location: texas

iTrader: (0)

Quote:
Originally Posted by Hawkeye View Post
Quote:
Originally Posted by bimmer456 View Post
Thanks! Yeah as long as the rate is locked in its cool. I've linked my credit card for now not sure if I should link my checking account maybe later. I can transfer funds from my brokerage to my checking account instantaneously so that would be the way to go to invest large amounts and retire early or buy a mansion among other things.
you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.
10k is just your limit not coinbase. You can have much higher account limits.
Appreciate 0
      12-14-2017, 12:19 PM   #19
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Quote:
Originally Posted by Hawkeye View Post
Quote:
Originally Posted by bimmer456 View Post
Thanks! Yeah as long as the rate is locked in its cool. I've linked my credit card for now not sure if I should link my checking account maybe later. I can transfer funds from my brokerage to my checking account instantaneously so that would be the way to go to invest large amounts and retire early or buy a mansion among other things.
you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.
I'm the thinking about buying more GBTC also but my brokerage is preventing additional purchases. Is there a way to find out which brokerages are allowing it? I may move my money though it appears many brokerages will block this security from time to time. I may have to make some phone calls before I move my money or maybe my brokerage will change their mind when they see how much money I've made them and see me taking my business elsewhere. As far as fees, if it's making money I don't mind. I prefer credit card with Coinbase so there's some fraud protection. I believe the limits can be changed to allow more and the amounts are enough to buy quite a lot over a period of weeks.
Appreciate 0
      12-14-2017, 01:16 PM   #20
te37
Major
te37's Avatar
331
Rep
1,128
Posts

Drives: F80 SS/SO 6MT
Join Date: Jun 2013
Location: ATL

iTrader: (3)

Quote:
Originally Posted by Hawkeye View Post
you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.
LOL Good luck even getting 10k deposited within a week. Their transfers are SLOWWWW! Even wire to GDAX takes days!
Appreciate 0
      12-14-2017, 01:19 PM   #21
rad doc
Lieutenant
82
Rep
413
Posts

Drives: 1M AW loaded
Join Date: May 2011
Location: texas

iTrader: (0)

Quote:
Originally Posted by te37 View Post
Quote:
Originally Posted by Hawkeye View Post
you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.
LOL Good luck even getting 10k deposited within a week. Their transfers are SLOWWWW! Even wire to GDAX takes days!
True but they lock in rate at purchase so unless you are day trading it doesn't matter much.
Appreciate 0
      12-14-2017, 05:21 PM   #22
bimmer456
Lieutenant Colonel
328
Rep
1,705
Posts

Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

iTrader: (0)

Quote:
Originally Posted by rad doc View Post
True but they lock in rate at purchase so unless you are day trading it doesn't matter much.
I'm afraid of the transfer not going through due to some technical reason and the money being lost, as I've heard of this happening. Better to use a credit card so you can get your money back more easily. Most sites aren't working and are down as everyone is trying to buy bitcoin. May have to wait for things to settle down a bit when the price stabilizes before trying to get in.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 04:45 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST