Buying altcoins directly with fiat in the US on Changelly


I hear you and I do not know your exact situation. I also do not store any significant funds on Coinbase or any exchange for that matter. I provided full on verification from the beginning I do not have an issue with this as Coinbase and my bank have a partnership of sorts so that info is available. More and more of these exchanges in the US are going to require the same level of identity verification as a bank account so this is something you should get used too. If this is an issue for your situation then you need to get into mining.


Customer information at regulated entities sometimes needs to be updated on an event-driven basis. Is that the issue?


I do, actually realize this, and, in the “cooler light of dawn”, :joy:, my rage has abated, somewhat. I just hate, “money surprises”, is all, really. “Surprise, give me some money!”, “Surprise, this is going to cost more money than I told you it was!”, “Surprise, the way you and I were transacting monies before? Surprise! We changed that without telling you!”; if you follow me…:sob::sob::sob:

I feel though, like I have vented properly, contained my passions, and am now ready to operate with everyone else in the “adult” (if somewhat tarnished and grey) world of “consensus reality”.

Thank you guys for so rationally consoling me in my brief rages though. :wink: :trophy::medal_sports::star:


You probably met the fist of the new KYC rules that must be adhered to by May 11.


Great article, Peter!


One must conform to the relentless will of the “Tall Glass Building People” (of various flavors and descriptions). :joy:


Also, yes, that article is very good. Thank you. Looks like they’re really trying to find out how “the sausage is being made”, or maybe, “who is actually making each sausage”, lol. :wink:


Oooooh, plost twist! :wink:


Are there any happy Changelly users here?

to me the app and just seems like a waste of time and money.


I’ve used it when I had no other option. It’s okay. Fees can be high but it’s better than no bitcoin.


I always used the web versions of changely and shapeshift

they are a great way to swap coins or acquire coins without an exchange

tools in the toolbag…

for me the high level takeaway is these services work flawlessly, proving the tech - can you imagine being able to hot swap your facebook stock for Pfizer stock in 3 mins?

These are blockchain tech use case demo home runs


Hi - I have limited experience… but your bank sets the wire transfer fee… Big Banks $25 flat. Coinbase adds $10 fee. I just did this. My funds were not immediately released to Gdax - so I bought in Coinbase… (Spread on BTC was $150!!! to market.) Then the Coin released to Gdax. I’ve only done it once… Unless you transfer $1k - at $35 cost total… PLUS if you must buy Coins in coinbase at the mark up… then it’s pretty high fees. My bank transfers in Coinbase took 20+ days - and again, only released when I bought ‘BTC or ETH’ - not able to transfer the USD$ to Gdax to trade. SOoooo looking for alternatives too.


Try adding your bank account’s debit card, if you have one, as a funding source in Coinbase. I think you will find this to be a much better experience.


Thank you! I’ve only done a few transfers - and will try adding my debit card next. Not clear if Coinbase requires a purchase in coinbase before transferring to GDAX when depositing? Can you transfer your USD$ to GDAX without first buying a coin? That is a significant ‘hidden fee’ to pay $150 over the market price. AND - is the time wait for a bank deposit really 15-20+ days and NOT 3-5 days as advertised on Coinbase?? Appreciate your response. I’ve asked Coinbase - but no response from them but a copy of their standard info. No person to ask. Thanks again – Cheryl


I think many of the Coinbase fees you’re referencing, if I understand you, are bank/wire-transfer fees. For some, magical, reason that only bankers understand, much of this is “waved” for debit-direct transactions, in my experience at least.

You still have Coinbase’s “native” fees, which are still, mightily, annoying, but much less painful without “wire/transfer” fees.

Hope this helps!



Where are you getting the 15-20+ day number? My deposits have never went over the 3-5 day mark. Now you do need to be mindful that those 3-5 days are business days Monday through Friday 8-5. So depending on your bank if you buy something Friday night it may not be their until Monday morning.

To answer your question about avoiding fee’s. It used to be that you could transfer USD into coinbase and then transfer that USD to GDAX. I have not done this for a very long time so not sure if you still can or if you can what kind of fee’s are part of that transaction. This used to be one way that you could avoid nearly all of Coinbase’s fees.

I think there is an explanation of this in the B90x program you should probably check that out.


Thank you! Appreciate your response. Perhaps Coinbase has changed - as you and others (Yes - I followed the 90 day - that’s where I started) But… you and Peter are referring to 5-6 banking days… I deposited the 14th. Got a note from Coinbase my deposit cleared 15th - and I could buy a coin - but not transfer funds to Gdax. on May 29th - after sending requests to Coinbase help - cut/paste response… I did buy in Coinbase. The difference of my purchase to market… was $150 higher. THAT is NOT a bank fee. That is a hidden charge in Coinbase. After I purchased - my coin released. My 2nd deposit was a few days later… same thing - by June1st I bought a coin (not at market- but with an increased price again) and then my wallet in Coinbase allowed a transfer out. If you are not using Coinbase anymore… what are you doing and can you share how you deposit fiat for coins? Appreciate it. And very much appreciate your considering this long explanation… I’m so new - I have no other reference than my current experience. Thanks! Cheryl


Hey - thanks again!! The wire fees/ or credit card fees are clear. But the ‘release of funds’ may be a new policy at Coinbase. The difference of my purchase of a coin in CB to market… was $150 higher. THAT is NOT a bank fee. That is a hidden charge in Coinbase. After I purchased - my coin at the increased price… my wallet released the coin for transfer. My 2nd deposit was a few days later… same thing - by 21 days I bought a coin (not at market- but with an increased price again) and then my wallet in Coinbase allowed a transfer out. Is there another option? Where do you deposit to buy coins?? Appreciate your help – I’m new and no other experience. I do research - and the coin machines are 8%-10% plus… and the same spread Coinbase charges… you do NOT get market price when you purchase. Ahhhh - so much to learn. Appreciate your sharing your experience. Thanks! Cheryl


I am not sure what you are doing to get those kinds of Fee’s. If deposit say $100 from my bank account ACH deposit into my USD wallet I have 0 fee’s. The fee’s for purchasing BTC are not hidden and when purchasing through coinbase you are purchasing on a moving average price not spot so this must be where you are thinking there is hidden fee’s. There is how ever a 0-200 basis points that will be added to this price determined by the amount of time you have been with Coinbase and your transaction volume and size. Here is their fee structure and an explanation. Fees are also determined by what country you are in.


I just bite the bullet and use Coinbase, experimenting elsewhere, i.e., Gemini exchange, Circle Invest, etc., but I am a, disgruntled, slave to that Coinbase “Debit-Instant-Buy”. :joy:

Waiting 7-10 days for account realization, is something I am willing to pay to avoid. Also, see Nekko’s post here below, as you may be interpreting, averaged price movements between the time of your “declaration to buy”, and the time your funds actually, “arrive” in your Coinbase account, which, can be significant.

Another reason why I prefer debit-instant-buy. I like to, “strike while the iron is hot”, so that my purchase is at parity with the price movements of that moment/hour/day.