Coin base wallet

CausewayCoast

When I bought some Bitcoin a while back, I got some very small pieces of other crypto from coin base. I moved all of these into my mobile based wallet. I looked at moving these to sell but the miners fees are a lot more than the value. Do I just let them sit there or is there any way to move back to sell with little or no charges?? Thanks 

Reaper

I've only used Bitstamp but they don't charge anything to deposit the currencies they support. Converting your odds and ends to Bitcoin would then seem sensible. You mention miners fee but I assume you meant exchange fees.

CausewayCoast

In the wallet it shows that I can convert or exchange each crypto. It then gives the miners fee to agree before switching. 

planteria

i've had free coins from coinbase too.. i've found their cs to be poor, and when i downloaded the wallet app to generate some more free coins i couldn't get it to work. i Think the best thing is to just leave them there, and Maybe one or more will increase in value and make it worthwhile to move them. meanshile, holding bitcoin, traded/stored with providers with better cs and usability get my attention.

CausewayCoast

Thanks for your comments. Likely no choice but sit back & wait

maxsteam

You mention miners fee but I assume you meant exchange fees.

The transaction fees are used to generate new coins that are paid to the "miners" for letting their "mining rigs" be used to process transactions, so it's not incorrect to call it a miner's fee. A mining rig is just another name for a computer that has been designed specifically to earn coins in this way. I have heard that it's possibly to earn as much as a couple of pound worth of bitcoins each day if you leave the computer on 24/7 and don't pay too much for electricity (or if someone else pays the electricity bills). The coins are either categorised as bitcoins or sh*tcoins. It only takes a few minutes and knowledge of the right coding to issue your own currency. Famously dogecoin was created to prove that it's possible to create something worthless in a few minutes, but when it became famous it spoilt the joke. There are regular "Initial Coin Offerings" for new sh*tcoins with varying amounts of hype and humour. I'm no expert but I find the language and culture fascinating.
One day someone in power will wake up to how much electricity cryptocurrencies are wasting, but not today. The link between cryptocurrencies and electricity wastage is only obvious to the people who are making that couple of pound profit each day and those people are not even going to tell the grown-up who pays the electricity bill.

N1cKn1ght

I have been using Coinbase for a few years. In January I logged in to my account to be told that it was being verified and I could not trade. It usually takes a few days and that I should login daily. That was over six weeks ago and I am still getting the same message. I am unable to buy or sell. I have tried to resolve the matter with their automated customer service without success. I placed a formal request for help over ten days ago. Is Coinbase in trouble? Should people be advised to get their money out whilst they still can? Will I ever get my money back?

ivormonee

Move them out of the mobile wallet back to an exchange (possibly Coinbase) some of which, if you research them, can convert for next to nothing. Coinbase was ok but there may be much cheaper options now.

RichTips

The mobile wallet is likely to be an Ethereum-based wallet, a network that has for quite a while been dogged by very high transaction fees. It's got so bad that a simple send transaction can cost 10s of pounds. As the coins you received from Coinbase (Earn?) are likely worth under £30 (unless you received them a long time ago and the prices have since appreciated drastically - and some have), the transaction fee to send them back for sale will take a large chunk of their value until the fee situation is resolved. While there are various ongoing projects attempting to solve the fee issue, it doesn't look like this will be happening anytime soon. If I were I'd just make sure I recorded the necessary details to access the wallet and forget about them for a while. 

dopaknox

N1cKn1ght said:

I have been using Coinbase for a few years. In January I logged in to my account to be told that it was being verified and I could not trade. It usually takes a few days and that I should login daily. That was over six weeks ago and I am still getting the same message. I am unable to buy or sell. I have tried to resolve the matter with their automated customer service without success. I placed a formal request for help over ten days ago. Is Coinbase in trouble? Should people be advised to get their money out whilst they still can? Will I ever get my money back?

Lol, no, Coinbase is certainly not in any trouble. I imagine they’re completely overwhelmed at the moment but swimming in cash.