Look I am not going to get into the technical details of mining Bitcoin, Custodianship and all the other things that create a Bitcoin transaction, then complete the said transaction... But between Nexo and Coinbase there is a huge problem with Bitcoin transactions... They do not get paid with any sort of speed when transferring from NEXO to Coinbase
This pisses me off for a number of reasons... I own the Bitcoin, the Bitcoin was transferred from Coinbase to Nexo within minutes - why not visa versa?
I expect a speedy transfer of Bitcoin, not wait 6-days like in mid-January... I should have learned my lesson... But nope, thought I would trust to try and withdraw in order to make some speedy altcoin investments... No bloody chance... Stuck at Coinbase pending yet again...
Why the hell is it that my transactions to Nexo fly into the Nexo account, but not from Nexo to Coinbase?
Something needs to be done to actually create much quicker transactions with Bitcoin... We have been too long in waiting for a standard fee for the mines, it is the pure favouritism of higher paid transactions that receive a quick service wallet to wallet... However since Coinbase Nodes command inappropriate fees and transaction speeds when it comes to Bitcoin on a normal day - I can only see that dealing with Coinbase and Bitcoin as a pain in the arse, it just is not working if Bitcoin even remotely moves up in value... This does not bode well for the future.
It's a problem that I doubt will go away very soon in a particular hostile Bitcoin environment, when it comes to the value - it means that trying to transact to exchange and buy Alts at Coinbase, books down to forget it.. It is going to screw up any quick investment you may be aiming for.
Coinbase have their own Nodes - but these are seemingly very greedy, also obviously seek out highest paid fees first.. But to hold onto that transaction for days, especially with nodes of their own... It is purely taking the piss. Why am I having Bitcoin mined twice? These should be straight forward transactions as the Bitcoin has been mined already... This has always been the part that never made sense to me.
This all proves the limitations of Nexo and Coinbase when it come to transactions between the two.
Nexo is a fantastic service to earn on your crypto via hodl and loan. I have never had trouble sending funds to any other wallet from Nexo... Only Coinbase... So this is telling me a story... Ditch Coinbase for Bitcoin transactions - as of today February 4th 2021 I will not be using Coinbase for BTC transactions... In two months Coinbase waiting times have cost me thousands of dollars in investment opportunities.
Enough is enough... Got that Coinbase?
*****
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