Bitcoin wallet help

[j0hnsmith]

Hello,

 

I'm currently doing research on the best overall Bitcoin wallet. For now, this is primarily for currency purposes. Currently, I don't have an interest in investing in crypto. I've done some international investments and wish to use Bitcoin to cashout, since the fee is free. Other methods have somewhat pretty high withdrawal fees. After talking to their customer support, they noted their primary customer base use Blockchain, Cash app or Coinbase. After looking at some threads here, a senior member recommended Blockchain.info which I'm leaning towards. But before I commit, just wanted to ask questions to verify the process:

 

1) I assume this is the process for cashout:

   a) convert USD to BTC

   b) provide Bitcoin wallet address to merchant

   c) merchant transfers BTC to my Bitcoin wallet

   d) convert BTC to USD using exchange; in this case, I'm assuming I'll do it under Blockchain since I plan on getting wallet there?

   e) deposit to bank

2) I assume Blockchain.info and Blockchain.com are the same thing?

 

I welcome any additional feedback. Thanks for the help.

[j1philli]

1 hour ago, j0hnsmith said:

I've done some international investments and wish to use Bitcoin to cashout, since the fee is free.

You mentioned that the fee is free for the transfer of bitcoin but this is not the case. Either you or the other party will have to pay the transaction fee at time of transfer. This fee is variable and is hard to calculate without doing it inside of a wallet application like blockchain.com or Coinbase.

 

1) Your process is correct.

2) Correct, the .info URL forwards to .com

 

I've never used Blockchain because at the time I was looking they did not support depositing to Canadian bank accounts. I had a very good experience with Coinbase though. Just wanting to share my experience. Any other questions feel free to reach out.

[j0hnsmith]

17 minutes ago, j1philli said:

You mentioned that the fee is free for the transfer of bitcoin but this is not the case. Either you or the other party will have to pay the transaction fee at time of transfer. This fee is variable and is hard to calculate without doing it inside of a wallet application like blockchain.com or Coinbase.

 

1) Your process is correct.

2) Correct, the .info URL forwards to .com

 

I've never used Blockchain because at the time I was looking they did not support depositing to Canadian bank accounts. I had a very good experience with Coinbase though. Just wanting to share my experience. Any other questions feel free to reach out.

Appreciate the input. At first, I had my eye on Coinbase due to its ease of use. But the Mt. Gox platform hack kinda concerned me on an article that I read here:

 

https://www.thebalance.com/best-bitcoin-wallets-4160642

 

I honestly don't know when that happened, but I'm sure their current platform is more secure now.

 

Judging from your response, it sounded like you would have gone with Blockchain first if it was supported in Canada. Also, do you still use Coinbase now and have had no issues so far? I'm guessing that choosing between Blockchain or Coinbase I can't really go wrong.

[j1philli]

12 minutes ago, j0hnsmith said:

Appreciate the input. At first, I had my eye on Coinbase due to its ease of use. But the Mt. Gox platform hack kinda concerned me on an article that I read here:

 

https://www.thebalance.com/best-bitcoin-wallets-4160642

 

I honestly don't know when that happened, but I'm sure their current platform is more secure now.

 

Judging from your response, it sounded like you would have gone with Blockchain first if it was supported in Canada. Also, do you still use Coinbase now and have had no issues so far? I'm guessing that choosing between Blockchain or Coinbase I can't really go wrong.

Still use Coinbase on the occasion a client wants to pay in crypto and they have never given me a reason to even think about switching. When I was first looking I did what you did and found a recent top 10 list and went from the top down until one of them did everything I needed it to do. You'll be fine no matter what in my opinion.