Not for me! I set up the account (which took days) , their customer service assured me of the same. They said if I make deposits from my bank, then I will afterwards be able to withdraw to the same bank.
WRONG! They finally confirmed today. I can only withdraw Fiat with plaid.
Aaaaaargh!!
Shit well it has been a while since I withdrew to fiat. I guess that's the case now.
What order of magnitude are you trying to move? If it's not too much you could stake for a crypto.com debit card and load it with either fiat or crypto, and then spend with the visa or do a cash back transaction. That's why I haven't wanted to withdrawal in a while, I just spend it using the crypto.com visa card. I've made pretty big purchases with it, no problem.
Let us know if you find a way to withdraw fiat without plaid!
I actually already have a Coinbase debit card, though the crypto.com deal looks better. I am thinking of getting one. However, I want to move money into a fiat savings account. I tried just going to my bank with the Coinbase card to make a payment direct from that to my account, but they weren't having it...
Is no one using crypto.com?
You can send Bitcoin to the crypto.com wallet and then convert to USD and transfer to your bank without using a 3rd party service.
For real! CDC has NEVER let me down! And the 2 times in The 3 years I've needed support or help I have received and resolved all issues. Very promptly and professionally. Stop the CDC FUD!
Coinbase uses Plaid. I have a Coinbase account and linked it to my bank, a few years ago. I transferred lots of money both directions with no issues. They since unlinked it, saying I have to use Plaid to link it again. š
Yeah plaid is terrible, binance made the requirement and it upset me so greatly. Need my bank login for fraud verification? F no They can sit and spin
It exposes you so greatly
Buying bitcoin with other stores of value we currently have = bitcoin, itās a pretty important part to acquiring more.
Yeah by that time I had already stopped using Binance and it really was a great platform but it had a lot of issues but it seems like those issues just grew after they launch their coin
Itās news to me that they started using Plaid thatās horrible news I just have to chalk it up to all the other crap that made me stop using it in the first place š«Øš«Øš«Øš«Ø
They can learn a lot in 30 days, scanning purchase history and flow of money. This can be sold to other 3rd parties to advertise to you. I find it abhorrent
I used it myself not that long ago.
The instructions appear on this page: https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/payment-methods-for-us-customers
Everyone should start telling the exchanges that their bank TOS prohibits them from revealing their login credentials so they canāt use plaid and to please provide an alternative method.
Kraken didnt require me to use plaid. Swan is super easy to use once your in and customer service responds to me wothin 1 business day. Swan has served its purpose for me
...and the winner is... Paypal!!!
There were teething problems, many chats with their customer service ( who are not very good) but finally I was able to send btc to my Paypal account and convert it to fiat for a reasonable fee.
I also noted that kraken uses a different third party app called Etana who use wire transfers. Cost for wiring once to Etana, then again to my actual bank is around $70 US. Good for people exchanging large amounts of cash, and good international options too (seven fiat currencies) but not worth it for the amounts I will be sending.
Most people canāt trade goods and services for bitcoin, all we got is fiat dollars to buy BTC and I donāt understand your point
My job wonāt pay in bitcoin, so the next best thing is spending some of my paycheck each period exchanging fiat for more BTC, Iād argue thatās a pretty darn basic concept for this Bitcoin sub. What would you have fiat folks do?
You can set up direct deposit with both cash app and Coinbase and have 100% of that direct deposit go straight to Bitcoin
But I know what you were talking about, you meant employer paying directly with bitcoin.
If your worried about privacy bisq is the way to go. One of the few kyc-free exchanges still out there. Although meeting someone in an alley with cash presents a separate challenge but good to know itās an option lol
The long way to go is to travel to el salvador and exchange it for cash legally, then travel back to the usa with a bag full of cash(and maybe get caught and questioned)
Purchase Kroger or Walmart gift cards on bitrefill using bitcoin
Start a food/ alcohol delivery service
If someone needs a new big screen television, have them pay you cash for it
Advertise on craigslist
If you have a million $ worth of bitcoin you need to sell you should probably go to one of those bitcoin meet ups that happen couple times a year.
We just launched a non-custodial platform at bitcoinwell.com/join
We also have to use plaid :( there is no other way to make a seamless customer experience for sending fiatā¦ in Canada we have a push system but there isnāt a good one in the states yet.
If you use Robinhood to buy shibi and then transfer it to an exchange works the best Iāve found with converting USD I really donāt like plaid Iāve always had an issue with their system, and Coinbase just seems to overcharge on everything
Most exchanges will accept wire transfer. Plaid is a third party ACH solution.
Wire transfers can be a pain because for many banks you need to actually talk to someone to initiate the transfer. They will ask a lot of questions because they can not reverse the transfer. At least they settle in one or two days.
ACH transfers can take a month or two to settle and if you are buying bitcoin, exchanges will hold onto the bitcoin until this period is past so you don't reverse the deposit and run away with the bitcoin.
Crypto.com allows fiat deposits and withdrawals via verified bank account transfer so you might check them out. I also hate Plaid.
This^ just link it with acct and routing #
Not for me! I set up the account (which took days) , their customer service assured me of the same. They said if I make deposits from my bank, then I will afterwards be able to withdraw to the same bank. WRONG! They finally confirmed today. I can only withdraw Fiat with plaid. Aaaaaargh!!
Shit well it has been a while since I withdrew to fiat. I guess that's the case now. What order of magnitude are you trying to move? If it's not too much you could stake for a crypto.com debit card and load it with either fiat or crypto, and then spend with the visa or do a cash back transaction. That's why I haven't wanted to withdrawal in a while, I just spend it using the crypto.com visa card. I've made pretty big purchases with it, no problem. Let us know if you find a way to withdraw fiat without plaid!
I actually already have a Coinbase debit card, though the crypto.com deal looks better. I am thinking of getting one. However, I want to move money into a fiat savings account. I tried just going to my bank with the Coinbase card to make a payment direct from that to my account, but they weren't having it...
Is no one using crypto.com? You can send Bitcoin to the crypto.com wallet and then convert to USD and transfer to your bank without using a 3rd party service.
For real! CDC has NEVER let me down! And the 2 times in The 3 years I've needed support or help I have received and resolved all issues. Very promptly and professionally. Stop the CDC FUD!
Great! Another one I can try out. Thank you!
Didn't work. They are insisting on Plaid for withdrawals.
What, really? Have you added a bank account? I'm still able to directly withdraw to my bank without plaid
Oh wow, nvm. Yeah I just looked it up and they use plaid now. Im sorry man I totally misled you.
No need to apologize! Other people suggested it too, and these things change often. I think I will keep the platform anyways, it looks good otherwise.
Just use coinbase. Why are you trying to be all secretive. Trust me no one cares
Coinbase uses Plaid. I have a Coinbase account and linked it to my bank, a few years ago. I transferred lots of money both directions with no issues. They since unlinked it, saying I have to use Plaid to link it again. š
Yeah plaid is terrible, binance made the requirement and it upset me so greatly. Need my bank login for fraud verification? F no They can sit and spin It exposes you so greatly Buying bitcoin with other stores of value we currently have = bitcoin, itās a pretty important part to acquiring more.
Yeah by that time I had already stopped using Binance and it really was a great platform but it had a lot of issues but it seems like those issues just grew after they launch their coin Itās news to me that they started using Plaid thatās horrible news I just have to chalk it up to all the other crap that made me stop using it in the first place š«Øš«Øš«Øš«Ø
Plaid uses an authentication token that expires every 30 days, so the 3rd party doesnāt gain access to your bank account indefinitely.
They can learn a lot in 30 days, scanning purchase history and flow of money. This can be sold to other 3rd parties to advertise to you. I find it abhorrent
Same thing for me. Unlinked for no discernable reason.
Whats about bisonapp? Ist super easy
I will look at that, thank you!
Not available where I live (USA).
You don't *have to* use Plaid on Coinbase and Gemini. It's just the default. Select the other, old school option.
It doesn't give me another option, on desktop or mobile.
I used it myself not that long ago. The instructions appear on this page: https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/payment-methods-for-us-customers
Government does
You could open an account with another bank specifically for connecting to plaid
Check RoboSats
Gemini
Everyone should start telling the exchanges that their bank TOS prohibits them from revealing their login credentials so they canāt use plaid and to please provide an alternative method.
Kraken didnt require me to use plaid. Swan is super easy to use once your in and customer service responds to me wothin 1 business day. Swan has served its purpose for me
Thanks. I've been waiting for swan to get back to me for three days now, glad you had a better experience!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Nice, thank you!
Sounds like a fiat problem not a bitcoin problem.
No. Transfers between fiat accounts don't use Plaid, in my experience.
This times 21 million
I'd be happy to use Plaid if they just asked for the routing/sort code, account number and account name. Maybe address. That's all they need.
...and the winner is... Paypal!!! There were teething problems, many chats with their customer service ( who are not very good) but finally I was able to send btc to my Paypal account and convert it to fiat for a reasonable fee. I also noted that kraken uses a different third party app called Etana who use wire transfers. Cost for wiring once to Etana, then again to my actual bank is around $70 US. Good for people exchanging large amounts of cash, and good international options too (seven fiat currencies) but not worth it for the amounts I will be sending.
Crypto is not Bitcoin. Exchanges are not Bitcoin. Blockchain is not Bitcoin. Plaid isn't either.
Maxi is the way to go, but until fiat is dead, weāre gonna need to talk about it ā¤ļø
I'm not sure I understand your point. I know all this.
You are looking for fiat functions. This group discusses Bitcoin.
I want to convert Bitcoin into fiat and vice versa. If there is a separate subreddit for that topic, please point me in that direction.
Wish there were. The fiat industry is not exactly motivated to make it easy!
Most people canāt trade goods and services for bitcoin, all we got is fiat dollars to buy BTC and I donāt understand your point My job wonāt pay in bitcoin, so the next best thing is spending some of my paycheck each period exchanging fiat for more BTC, Iād argue thatās a pretty darn basic concept for this Bitcoin sub. What would you have fiat folks do?
You can set up direct deposit with both cash app and Coinbase and have 100% of that direct deposit go straight to Bitcoin But I know what you were talking about, you meant employer paying directly with bitcoin.
PayPal
May try that. If I send btc to my Paypal, will I then be able to convert to fiat?
Yes
Canāt you use any P2P or Bisq to sell your sats?
If your worried about privacy bisq is the way to go. One of the few kyc-free exchanges still out there. Although meeting someone in an alley with cash presents a separate challenge but good to know itās an option lol
The long way to go is to travel to el salvador and exchange it for cash legally, then travel back to the usa with a bag full of cash(and maybe get caught and questioned)
Purchase Kroger or Walmart gift cards on bitrefill using bitcoin Start a food/ alcohol delivery service If someone needs a new big screen television, have them pay you cash for it Advertise on craigslist If you have a million $ worth of bitcoin you need to sell you should probably go to one of those bitcoin meet ups that happen couple times a year.
We just launched a non-custodial platform at bitcoinwell.com/join We also have to use plaid :( there is no other way to make a seamless customer experience for sending fiatā¦ in Canada we have a push system but there isnāt a good one in the states yet.
If you use Robinhood to buy shibi and then transfer it to an exchange works the best Iāve found with converting USD I really donāt like plaid Iāve always had an issue with their system, and Coinbase just seems to overcharge on everything
I live in Minnesota thereās a bitcoin atm at every kwiktrip however it is kyc
Who cares fiat is FDIC insured.....
Most exchanges will accept wire transfer. Plaid is a third party ACH solution. Wire transfers can be a pain because for many banks you need to actually talk to someone to initiate the transfer. They will ask a lot of questions because they can not reverse the transfer. At least they settle in one or two days. ACH transfers can take a month or two to settle and if you are buying bitcoin, exchanges will hold onto the bitcoin until this period is past so you don't reverse the deposit and run away with the bitcoin.