Does anybody know why you cant transfer bitcoin held at another exchange or in another wallet to IB? Or when this functionality will be available? I would love to have my crypto at one place I trust, ideally at IB/paxos. It makes little to no sense why this isn’t available.
If you're not worried about tax gains/losses, I've found it's cheaper to close your position at one exchange and open the same position at another exchange rather than transfer.
No way. Sitting on big gains, this would definitely not be a cheaper option. transferring should be basically free if it was possible
Many here on ET say Coinbase margins will crash as the retail players, Robinhood, IB, eToro, Ameritrade, Charles Schwab, even PayPal get into the cryptos trading business What people do not understand is that in order to support cryptos assets deposits and withdrawals on the p2p, decentralized, distributed, immutable, blockchains, you need to run full nodes Try running a full node of Bitcoin, Litecoin, Ethereum, Binance Smart Chain, Fantom network, Tezos, Cardano, Doge, Terra, and on and on and on After you run all those nodes, you have to make sure you maintain and keep them updated. If there are any issues, like a 51% network attack on the Ethereum Classic chain, you have to know that or you could literally be pissing millions upon millions of $$$ to the attackers Then you gotta maintain issuance of wallet addresses to every account holder and properly credit and debit balances as they send and receive from their self hosted wallets on the blockchains And by the way, you probably need multiple full nodes on each chain for redundanciis, load balancing over regional locations, and error checking You need blockchain expertise employees many of whom do not want to work for dinosaur companies and have actually left cushy jobs from Wall Street. Many have made enough from cryptos to retire Then you realized, this is why IB and Robinhood keep failing at implementing real native bearer crypto assets deposits and withdrawals to self-hosted wallets PS: And forgot to mention the most important thing is that IB will realize how dangerous working with native tokens is when they get hacked for billions of $ worth of btc on their hot wallet