Coinbase Canadian what do I even do with this?

[RainColt]

Hi I decided to buy some bitcoin just to play with and get a feel for what it is and I used Coinbase because it seemed pretty legit but because Im canadian I cant sell it so what exactly do I do with this, how to I make it sellable and usable?

[kb5zue]

In case you didn't get the news, Bitcoin just hit $10,000 USD.

[RainColt]

Just now, kb5zue said:

In case you didn't get the news, Bitcoin just hit $10,000 USD.

Ok aaaaand? So what?

[RainColt]

I want to know what im supposed to do with the stuff to make into money?

[kb5zue]

Just wanted to let you know that it isn't cheap by any means.  I wish you luck.

 

I decided to buy some bitcoin

[RainColt]

Just now, kb5zue said:

Just wanted to let you know that it isn't cheap by any means.  I wish you luck.

 

I decided to buy some bitcoin

Ok, So i've already bought it. Im past that point. Im at the point were I want to know how to sell it.

[kb5zue]

Try here.  You did say Coinbase.  Looks like they buy and sell digital coin.

 

https://www.coinbase.com/?locale=en-US

 

[RainColt]

3 minutes ago, kb5zue said:

Try here.  You did say Coinbase.  Looks like they buy and sell digital coin.

 

https://www.coinbase.com/?locale=en-US

 

Sorry I read your comment wrong, they don't support selling in canada

 

[kb5zue]

No, not trying to do anything other than understand.  I don't use digital currency and never have.  But if the coinbase website is in the U.S., then how are they going to know you're in Canada?  Everything I know about digital currency is how to spell it.  I just read then news yesterday or the day before about Bitcoin hitting 10000 so I didn't figure that anyone that I knew could afford the stuff.  And if you do get it, how do you spend it?  I mean, I have never seen a website or store that openly advertised they accepted Bitcoin or any other digital currency.  Not like you can go to Newegg and order a new mobo or cpu and then pay for it with digital currency.  Just trying to learn and understand, that's all.  Sorry if I came across the wrong way, that was not my intention.  kb5zue.

[intender]

you can send it to another wallet, or to an exchange to that does sells in canadas.  But just watch out for fees.  I dont think coinbase charges a fee just for transfers though, but some others charge you fees for cashing out.  I think hitbtc has a flat .0004 btc fee for cashouts which I didnt realize until i had about $1 of bitcoins I traded for.  If you have a friend or family it the US that you trust you could have them open a coinbase account and cash it out and send you the money.  You can setup coinbase to pay out to paypal in the US, so they could just paypal you the money after the cash it out. 

[kb5zue]

Did a google search, maybe this will help

 

https://www.buybitcoinworldwide.com/canada/

 

[intender]

2 minutes ago, kb5zue said:

No, not trying to do anything other than understand.  I don't use digital currency and never have.  But if the coinbase website is in the U.S., then how are they going to know you're in Canada?  Everything I know about digital currency is how to spell it.  I just read then news yesterday or the day before about Bitcoin hitting 10000 so I didn't figure that anyone that I knew could afford the stuff.  And if you do get it, how do you spend it?  I mean, I have never seen a website or store that openly advertised they accepted Bitcoin or any other digital currency.  Not like you can go to Newegg and order a new mobo or cpu and then pay for it with digital currency.  Just trying to learn and understand, that's all.  Sorry if I came across the wrong way, that was not my intention.  kb5zue.

actually newegg does take Bitcoin and ethereum, or atleast they did at one point.  I know for sure they took bitcoin, but the ethereum could be something I imagined. 

[Minbari]

If you are in Canada, QuadrigaCX has lots of options for converting bitcoin into CAD. You will need to pay one bitcoin transaction fee for transferring between the two wallets, which should cost a few dollars worth of bitcoin. Then from within QuadrigaCX you can pick whatever withdrawal option you like, some of which have fees and others do not. 

[kb5zue]

Way out of my league, that's for sure so I'm dropping out of this conversation.  I tried to be helpful but because I didn't understand how it works I ended up shooting myself in the foot.

[RainColt]

9 minutes ago, Minbari said:

If you are in Canada, QuadrigaCX has lots of options for converting bitcoin into CAD. You will need to pay one bitcoin transaction fee for transferring between the two wallets, which should cost a few dollars worth of bitcoin. Then from within QuadrigaCX you can pick whatever withdrawal option you like, some of which have fees and others do not. 

Alright, this website is perfect. Thank you. I believe I did it right and Im just waiting for the transfer to show up on my QuadrigaCX dashboard Thank you for the help.

[Minbari]

Just now, RainColt said:

Alright, this website is perfect. Thank you. I believe I did it right and Im just waiting for the transfer to show up on my QuadrigaCX dashboard Thank you for the help.

Glad to hear, depending on the transaction fee coinbase charges, you should see the 4 confirmations complete within an hour or less. Best of luck!

[RainColt]

Just now, Minbari said:

Glad to hear, depending on the transaction fee coinbase charges, you should see the 4 confirmations complete within an hour or less. Best of luck!

Its currently shown in Quadrigas Pending account funding. Is there a similar website for ethereum?

[Minbari]

Just now, RainColt said:

Its currently shown in Quadrigas Pending account funding. Is there a similar website for ethereum?

QuadrigaCX also handles Ethereum and Litecoin as well at BCH and BCG. You can transfer existing coin into the website the same way you handled bitcoin. Within Quadriga you can transfer between bitcoin and ethereum at the live rate minus only a 0.2% transaction fee. That way you can withdraw both into CAD at the same time and only pay a withdrawal fee once.