ACH

CryptoMemesLOL

You should research or ask questions before you throw attacks at things you don't understand. A simple Chatgpt question got me this in 5 seconds !! >That post captures a very common mistake: using the retail, consumer-facing crypto rails (Coinbase, Binance, etc.) instead of professional payment or off-ramp infrastructure built for freelancers, startups, or companies handling crypto payments. >They’re doing everything right except the part that actually matters: how they convert. >When you use exchanges like Coinbase/Kraken as an individual: >You pay retail spreads (1–2% hidden in the conversion). >Withdrawal and network fees add another 1–2%. >Bank transfers are slow because of legacy rails (ACH, SWIFT). >You lose optionality, you can’t hold stablecoins and spend them directly. >So yeah, 3–4% friction for moving “digital dollars” is nuts, but avoidable. >Here’s how pros, freelancers, and crypto-native companies actually do it: >1. Use a crypto-native payment processor >Platforms like: >BitPay, Request Finance, BitWage, Onramper, Transak Business, Uphold, Kraken Institutional, or USDC’s Circle Account Let you: >Receive USDC directly (no middleman wallet) >Auto-convert to fiat (USD, EUR, CAD) at interbank rates >Withdraw via Fedwire or SEPA (1 business day, minimal fees) >Typical cost: 0.1–0.3% total, not 4%. >2. Use a regulated fintech with crypto-friendly banking >If you’re in Canada, EU, or the US, look into: >Wert, Monerium, Kraken Bank (coming), Revolut Business, or Mercury + Circle integration These let you hold and send stablecoins like USDC as if they were cash — no conversion until you choose to off-ramp. >3. Peer-to-peer but automated (non-sketchy) >There are now P2P aggregators that automate the matching without meeting strangers: >Paxful (for stablecoins), Ramp Network, PayTrie (Canada), or Binance P2P Fees are <1%, instant settlement, and you stay in control of the wallet. > >4. For recurring freelance work >Use BitWage or Request Finance: >Create invoices in USDC or BTC >They handle FX conversion and deposits to your local bank >Transparent fee structure (\~0.5–1%) >Many Web3 companies use Request Finance for exactly this reason. >The Ideal Setup (for freelancers or small businesses) >Wallet: self-custody (e.g., Ledger or Metamask with a safe multi-chain wallet) Payment: Request Finance or BitWage (receive in USDC) Off-ramp: Circle Account or Kraken Pro (convert only when needed, at interbank rates) Bank: fintech that supports crypto cashouts (Mercury, Revolut, PayTrie, etc.) >That combo makes conversion: >Instant (same day) >Cheap (0.2–0.5%) >Non-custodial (you control funds until the last step)

OverCrookedSalmon

I evaluate “best exchange” by total cost, liquidity, asset coverage, and exit reliability, not just brand. Best Wallet’s security defaults are sane, and setup is quick. For platforms, I compare spread plus fees, depth on the pairs I actually trade, SEPA\/ACH speed, and how clean the withdrawal flow is under stress. I also check proof-of-reserves methodology, status page transparency, and whether they publish incident reports. Operationally, I keep only a working float on any exchange with strong 2FA, withdrawal whitelists, and alerts, then sweep to self-custody for storage. Before committing, I run a tiny end-to-end test: deposit, trade, withdraw, verify on an explorer, export a CSV for taxes. Performance in that dry run tells me more than marketing pages. Not financial advice, just a routine that reduces surprises.

personalfinants

In the US it's ACH and it takes 1-2 business days.

personalfinants

I don't think I've ever paid that much in fees? You didn't say what country you are in. Current bitcoin transaction fee is around $1 (if you are only sending $1000 worth that is 0.1%, lower if you send more) and taker fee for selling on Kraken is 0.4% so that only comes to 0.5%. Even on Coinbase the taker fee is "only" 1.2%. Then ACH from Kraken to checking is free and takes 1-2 business days. Taxable event, that's unavoidable but hopefully it's only once per month.

morrisdev

Yes. Everyone should. It's not just a bunch of unreliable garbage, it makes 100% of people who don't understand the crypto world believe all of it is a scam. It's infuriating, since I spent a TON of time and money making system changes to allow ETH transactions instead of bank ACH, but the endless fucking meme coin shit made all my clients refuse to work with it.

_IscoATX

Highly recommend Fold+ for this. If you’re living your life close to a bitcoin standard it works wonderfully. Bitcoin Wallet and Checking account all in one. And cashback on ACH payments. And no trading fees so all you have to worry about is the spread which is already really low.

Coiiiiiiiii

You might have to optionally subtract a few cents for a transaction fee if you self custody, however a few minutes later you should have it in an exchange. Then subtract something like 0.5% for the trading fee. Then 3 days for the ACH transfer to go thru, or pay like 25 bucks for a wire fee that takes a few hours to a few days.

rgnet1

>My biggest lack of understanding is not how to get money in, but how to get money out how do I get back to fiat cash. It seems so complicated. Um? Go to Coinbase. Link bank account. Deposit $100 by ACH. You now have $100 in your Coinbase account. Place market order for $100 worth of bitcoin. You now own bitcoin, albeit it's in Coinbase's custody. Just like Etrade has custody of your stock in Tesla. Now place market order to sell all your bitcoin. Assuming no big price movement, and after fees and spread, you will probably have $97 cash in your account. Withdraw $97 by ACH back to your bank. I'm glad to add one lesson to your 25 years of experience on EXIT STRATEGY. I'd say it goes without saying, but with you that's probably not true, you would be incredibly stupid to buy and sell immediately. Just like with any stock, FX, or other instrument - you instantly lose value on fees. Also, the fee example for Coinbase can be mitigated heavily by doing maker-only trades directly on their order book.

McBurger

Coinbase was, & will forever be, the valiant heroes of crypto. Buying bitcoin required me to create a Mt. Gox account, which was very sus at the time (lol because rightfully so). Funding money into it required me making an account with a service called Dwolla to pair it with my checking account, do verification ACH deposits, and send away. I’m happy I lost nothing in the Gox exit scam, I always self custodied (i.e., spent) my bitcoin. Gox had shit support, bad service, slow times, and obviously they were thieves. But when Coinbase came on the scene in 2013… we finally got an American exchange. The first legitimate reputable exchange. This guy Brian Armstrong is a huge nerdy crypto enthusiast and wants to do it right. We fucking loved Coinbase around here. Coinbase single-handedly did so much to establish Bitcoin as something legitimate that large investors could put trust in. The entire 2014 bull run was kicked off largely in part by Coinbase bringing accessible exchange accounts to all. They really pushed things forward and I am of the belief that without Coinbase, Bitcoin would have spent several more years being stagnant and forgotten in the void left behind with MtGox and BTC-e. It kind of makes me sad that only a few years later, it was around the 2017/18 bull run, that so many newbies came in shitting on Coinbase and calling them a scam and the worst exchange and fraudsters and terrible support and etc. you know the story. A lot of it is warranted, but idk. Personally I switched to Kraken myself, lol. But Pepperidge Farms remembers. I think Coinbase is still cool guy who kills aleins and doesn’t afraid of anything.

RetiredAvocado

You need to have a verified exchange account ready to go. Deposit to clear 20 min to an hour. Selling pretty much instant. Withdrawal to bank account a wire could be same business day or overnight. ACH 3 to 5 days.

TranscendentGamer

Yes, the issue was failed ACH transactions. It typically takes three to four days (or sometimes longer!) for them to settle and appear on your bank statement. At the time of my call, the transactions had not yet been reversed, as they were still processing -- I had already replenished my bank account with additional deposits that morning. I then followed up on my action and contacted River’s customer service to ask if they could expedite the release of my held Bitcoin, since it was being released in very small amounts which I found to be problematic and at a frustratingly slow pace. Shortly after that conversation, my account was unexpectedly closed.

toodimes

The initial issue was failed ACH transactions correct? You initiated either a buy or a cash deposit and that ended up getting reversed?

Wiggles2090

Thanks. Lmao not me on robinhood trying to search for the ACH ticker.

Factualx

ACH transfers clear overnight for free, and wire transfers clear instantly have lower/same fees as your typical crypto transfer. If you're going to go on about how an international wire transfer could take longer or blah blah, I refer you back to my 99.99% use case comment.

TowlieisCool

I can deposit five figures through ACH, they'll front me the entire amount while its pending, and I can have it in defi in minutes. Paying a small spread is worth the convenience.

nemes1sx1st

I got an invite as well just curious though does the Coinbase one card as an actual credit card meaning apply for the card through AMEX and get approved with a credit limit or is it simply based on how much crypto or assets are in the account? Also, if I make a charge with the Appointment, one card doesn’t bring up a balance that I can pay ACH checking instead of it, pulling from my CB balance.

spearsy33

I used to do it with the debit card though PayPal bill pay, but they got wise and changed the rewards. Now I just do the ACH and get 0.25% like all other ACH… bummer. I was getting great rewards for the first year.

ChemistrySea6790

I evaluate “best exchange” by total cost, liquidity, asset coverage, and exit reliability, not just brand. Best Wallet’s security defaults are sane, and setup is quick. For platforms, I compare spread plus fees, depth on the pairs I actually trade, SEPA\/ACH speed, and how clean the withdrawal flow is under stress. I also check proof-of-reserves methodology, status page transparency, and whether they publish incident reports. Operationally, I keep only a working float on any exchange with strong 2FA, withdrawal whitelists, and alerts, then sweep to self-custody for storage. Before committing, I run a tiny end-to-end test: deposit, trade, withdraw, verify on an explorer, export a CSV for taxes. Performance in that dry run tells me more than marketing pages. Not financial advice, just a routine that reduces surprises.

Django_McFly

I used to get part of my paycheck sent to Coinbase and turned into crypto. I got ACH/routing info from the exchange, I added the account on my job's payroll webpage, told it what % of my checks to send there and it happened on it's own. That was the easiest and most convenient. The money hit Friday morning and I could withdraw it Friday morning. No 5-7 day hold. Just thank you, good bye. Off the exchange and into my wallet. I would still be using it but I had a bad experience where they changed my account #, didn't give me an in-app notification or email or any notice and my money was MIA. I got it on the next pay cycle so it's not like it was lost, but I didn't want to keep giving them my business. They could have just contacted me and let me know. Now I do it manually. It's annoying. Way more steps and I have to leave my assets on the exchange for 7 days while the transaction clears (or pay fees to do a debit card deposit). Maybe one day I'll crack and go back to it. Not for a while though. Ideally Kraken or someone else would offer a similar service but I don't think they do. Other places like Moonpay offer it but it's not free like Coinbase was.

HSuke

Same one as you: Chase I've been with them since WaMu first became Washington Mutual in 1994. I've never had any issues receiving checks up to $10K in amount or ACH deposits up to $50k. Did you ever have any bounced checks? Maybe your account got flagged for past suspicious behavior.

HSuke

Yeah, I don't know what the other guy is suggesting. Check and ACH are the best options for large amounts up to $50k. Above that amount, I usually use Cashier's checks, which is perfectly fine for sending millions of dollars.

Wsemenske

It also prevents people from submitting an ACH, buying bitcoin and sending to their wallet and then canceling the ACH before it clears. It used to be a common hack that people tried to do on exchanges

Lysergicus

This is how all places are unless you push the money (wire). Credit transactions and ACH are essentially requests/promises for settlement. The actual settlement doesn't occur until later. Until the tx is settled in the traditional system, the money isn't yours.

Nikovash

And why not ACH, zelle or wire transfer?

Fit-Hat-3156

ACH?

Yorn2

I mined Bitcoin in 2010-13 and again with a larger business operation in 2017-2019. I used Bitcoin but I still use checks regularly even today. Lots of people still tithe with checks and/or do regular payments where credit cards and automation just add a 1-3% overhead that is unneeded. Most checks typically clear for me in maybe 3-5 days, sometimes a few more. Even checks are all mostly electronic now, or at least the ACH system is mostly electronic. I think the problem is that the current banking system is built on the old traditions of the paper system, it was never really designed for speed first. Also, over time, law enforcement and intelligence agencies have spent so much time adding extra bureaucratic checks that even going electronic has ultimately become pointless.

Aggressive_Finish798

Not anymore. The old AHC transfers were done in bulk format and took days. These days, Same Day ACH transfer is the norm. Most done the same day or quicker. HYSA accounts are longer, but you also get high interest from them.

justmesayingmything

To be fair ACH and Zelle exist which would have provided instant funds, comparing paper checks, something outdated for 10 years isn't really the right comparison.

stanley_fatmax

Traditional ACH transfer does not give the recipient institution access to your full account like Plaid gets. Plaid gets full transaction history and future transactions, access to registration info, permission to send/receive, etc., literally everything you get when you sign in yourself. Plus in many cases they get your username and password because you willingly give it to them. Plaid has a horrible track record with regards to privacy and I encourage everyone to avoid it if possible.

adiabatic_storm

Zelle is only fast settlement if both banks are enrolled in RTP, otherwise it's standard ACH settlement times. Which all goes to say, you're right but only when those circumstances exist. Banks can also hold txns if they suspect fraud etc. By contrast, with Bitcoin it's a guaranteed fast and final settlement every time no matter what.

stanley_fatmax

Almost all have alternatives to Plaid because Plaid does not support all banks or individuals. Just contact support and request micro-deposit ACH verification because you cannot use Plaid. If they ask questions, just say you're restricted from using Plaid based on the terms of a class action lawsuit. Plaid has been involved in quite a few privacy cases so it's not unrealistic. Plaid has a terrible privacy track record so it's not a bad idea to avoid them anyway. I always do.

RedditThrowaway-1984

Because a wire costs $25 or so and it’s much easier for him to write a check. ACH is possible for less than $10k, but most banks have lower limits. I think mine is $2,500 max for ACH. The thing is, if the bank knows you and you have money, they don’t make you wait for a check to clear. A $10k personal check would be available in my account instantly because they know I’m good for it if it bounces. Basically, if you need the money banks suck. If you don’t need the money they trip over themselves trying to give you some.

BlazingPalm

ACH is the best they can do and it can take 3+ business days (hope you’re not trying to transfer on a Friday!) I really wish they’d expedite small amounts (like under 10K) but I guess they have their reasons.

Bitter-Courage-4392

How come ACH is safer in your opinion?! With ACH connect, the other entity will get direct access, at least companies like Plaid are trying more security precautions and practices in my opinion, and the risk is less

omg_its_dan

Because an ACH hold by an exchange has nothing to do with Bitcoin itself

siasl_kopika

>I know what a money order is. Some places still do not accept money orders, and they are not required to. Can you name one? Ive never once seen a place that will take a check but not a money order, except for the reasons I listed about (what they actually want is not the check) >My point is that this should be available for individuals as well and so I'm looking for that solution. Im trying to understand the usecase here; i cant imagine any case where this is of particular benefit. >You can print a check on a normal printer and they must accept it. It will be much harder to make the deposit and annoying, so I can see them rejecting this for valid reasons while a money order comes with micr and you can deposit it without even knowing its money order at all. A money order is just a check written without a bank account after all. I would expect rather than a startup trying to solve this case, it would make a lot more sense to work on getting your vendors to just take btc and/or LN. Plenty of solutions for that exist, and they will direct ACH to their fiat bank so they dont have to lift a finger really.

Red4141

They should be aiming to replace ACH and settlement services.

Brap86

Kraken enforces this 7 day waiting period with each ACH, its not only the first instance. Every single deposit… its so asinine but the alternative is a wire transfer which comes with ridiculous fees and 3-5 business days for processing.

rgnet1

Such a non-argument. "It's difficult to do because both sides don't have the tech." That's the same for absolutely anything. I can't send fiat to anyone unless they provide me bank details (of many different confusing varieties... ACH, sort, swift, iban...) or an intermediary service identifier (Venmo, Paypal...). Point is, bitcoin is very easy if both parties use bitcoin. Digital fiat bank transfers vary wildly.

Horror_Ride9619

Beyond many lacks in the car-bitcoin-comparison there is one very huge: Ford never begs anyone buying his cars by running shouting through the streets. The shift came because cars had many technical advantages over horses. Bitcoin has no advantage over established systems like Visa, Mastercard, SEPA, SWIFT, ACH. If Bitcoin could not be changed into USD it would be worthless while cars and horses are technologically completely independent bitcoin is tightly connected to USD in its use case. Bitcoin is famous because people bet on insane steady growth in the USD-per-BTC exchange rate to step out of the working class while already an equilibrium is reached which can only be left behind by further pushing huge sums of USD from institutional and state actors into the system.

GettingFasterDude

I’m wondering if it’s because bank ACH payments take a few days to clear, but I’m not sure.

Interesting_Loss_907

I still hold most of my stack, but cashed out a portion early this year for a real estate purchase. I’ve used both Coinbase & Kraken. My fees on Coinbase (using *Advanced* on their app) were appreciably lower than Kraken. But with Kraken I only sold smaller amounts so idk. Both exchanges I have accounts linked to a bank savings account that I’ve used many times. Both exchanges offer instant transfer for a few dollars, or regular ACH for free, for which they say it could take about 2 business days. In my experience my bank showed the incoming deposit always the next business day.

Squeezitgirdle

To add some more to this list off the top of my head: \- Use of VPNs or proxies \- Mismatched identity data (this is the most common I've encountered and it's usually because the customer made a typo) \-structuring / smurfing (breaking up deposits/withdrawals into smaller amounts just under reporting thresholds.) \- Use of mixers/tumblers: Some exchanges will straight up ban you for this cause they don't want to deal with the risk. \- Using an exchange to deposit crypto, convert it, then immediately withdraw \- self-trading (selling and buying from yourself) \- Deposits from gambling sites (also a common one, my current company flags for this) \- Refusal to provide source-of-funds documentation (this usually happens after a flag was tripped though) \- Frequent failed deposit attempts (ACH returns, rejected wires). \- frequent use of prepaid visa cards \- a suspicious login from a country where crypto is banned or the exchange does not offer services in. \- vague or suspicious explanations of what you're doing with crypto (for example, if you call/email support and they try to be friendly asking how you got into crypto / what you're planning to use it for / etc. They may sound friendly, but those are actually probing questions. It's not malicious probing, though. Mostly intended to make sure the client isn't getting scammed / etc.) and like you said, there are many more.

pickleBoy2021

Society for Worldwide Interbank Financial Telecommunication. Last word in SWIFT. It’s a messaging service to communicate that you are moving money. For example, the Vatican has a swift number but they don’t move money on swift. They use it to relay secure messages then use SEPA to move money from the banks to the destination. Same as ACH in the US. There are trillion dollar distressed debt markets that don’t use Swift but fax machines for confirmation. Then money is moved between the banks. No single point of failure. Just old pipes like the plumbing in your town. Old and patchy and fragmented but not a single point.

xBrodoFraggins

Not 100% sure, tbh. Haven't tried. I imagine if you do an ACH transfer, it's probably free like most platforms, just a 2-3 day turnaround.

Buster1UP

I’m a little partial to it since I’ve had it for so many years, but for sure the rewards were amazing in the past. I make about $50 in BTC per month currently, but I purchase a lot of the gift cards for food apps constantly. Fold is the only way I have found to pay my mortgage with ACH and receive rewards. I also have Gemini card for the 3% back. I swipe that for all restaurants not covered by fold.

toodimes

There is no reputable exchange with no limits that operates in the US. ACH transactions expose risk to the exchanges, as there is a very large window where fraud can be claimed and money can be clawed back. This means exchanges MUST impose limits of some sort on ACH transactions. In almost every exchange in the US if your risk profile is higher than average the ACH limit will be lower

SherbetFluffy1867

River Financial does impose limits on ACH transfers: Weekly ACH deposit limit: $150,000 per week Daily instant-buy ACH limit: $100,000 per business day River doesn’t restrict deposits based on your bank. ACH limits are account-wide, not per bank. Wires have no deposit cap. External banks—not River—might limit crypto-related activity due to regulatory pressure.

infinitecipher

I'm aware of that option, but mistakenly assumed you were using the debit card to pay off the credit card. You must have sufficient debit spend to get the ACH cash back. I've not for quite some time. You mentioned rent. I don't have rent, and my mortgage can't be paid with debit. You also mentioned gas, but I get 5% back on my credit card at gas stations, so I won't be using a debit card for 0.5% even if it gets me an extra 0.25% on the ACH payment later.

PheelGoodInc

ACH. Fold gives a routing and account number

GiveMeYourSmile

As I wrote earlier: Kraken only allow Wire or ACH Transfer to my bank accounts within the US. SWIFT is not available for my account and support said it won't be available.

110010010011

> they only allow Wire or ACH Transfer to my bank accounts within the US Could you try a different protocol to a local bank, or is your only business account on Wise? Kraken supports SWIFT to non-US accounts. And if Wise doesn't support each and wires from cryptocurrency exchanges, but somehow still support such transfers from onesafe, they will shut it down as soon as they discover that onesafe is an exchange.

GiveMeYourSmile

Thanks for your advice! I have a Kraken business account, but the problem is that they only allow Wire or ACH Transfer to my bank accounts within the US – options that I don't have at the moment, because I have only Wise account. I don't know if Coinbase has this limitation, but based on the fact that most platforms have separate US sites, I assume Coinbase may have the same restrictions. Kraken + Mercury would work great, but unfortunately Mercury refused to serve me without explanation, so I'm looking for a solution that will allow cryptocurrency transactions specifically at the stage of withdrawing them to fiat :)

Boomshichi

ACH all the way

baguio1988

Thanks for the input. Are you referring to ACH for your 25k limit or wire transfer?

fringecar

Naw. Normies could not. No exchanges, ACH transfers, etc. you could not have bought 15 BTC for 1 cent. If you knew the people and were the right person you could have. But you weren't, so you could not have.

Electronic-Jury-3579

How are you getting cash then out on the exchange? They need something called fedwire vs the typical ACH account setup, $30 fee to send money in to validate account links! Can't seem to send cash back to the app from exchange to leverage existing ach in app.

JustifiablePA

Use Gemini credit card to earn btc-back, pay off cc each month with Fold debit account, earn sats-back for monthly ACH. Every purchase yields sats. 53% of paycheck DD'ed into Strike. Every side gig or contractor gig I take into Strike at 100% Years ago I started by cutting my monthly subscriptions and allocating that monthly balance as my DCA. $10/day consistently for years will be enough.

ElderMight

Robinhood has a daily withdrawal limits of $50k. ACH withdrawal takes up to 5 days or more to process. So it would be at least 10 days before all the money hits OP's bank account. Then OP would have to send the money to another exchange. Depending on the bank, OP's bank could have a monthly withdrawal limits or they may flag any large withdrawals and halt it. My bank's wire limit is $25k. If that's the case, it will take at least 8 months to move that money to the exchange to rebuy.

OprahsScaleBroke

Alchemy Pay (ACH) 🚀🌙💰🎆

2LostFlamingos

This topic is always a concern of mine. I sold a small amount last night that I had on there, mostly from credit card rewards. Requested an ACH to my bank account last night. It’s in my bank already Monday morning at 9 AM. Approx $1k USD. I’ll rebuy later. Not trying to be dismissive. I’m always keen to hear issues such as this. I’m not sure why you are having issues. It is upsetting that their response time is slow.

user_name_checks_out

Okay, I got you. At first you wrote "ach" rather than "ACH", the latter (uppercase) denotes an acronym. I thought you stubbed your toe or something.

Key_Friendship_6767

Go google ACH bank transfer lol… 😵

low_contrast_black

I do. But I live in a corporate-owned complex in a large city. The only way we can pay is credit, debit or ACH.

ElderMight

Go to the coinbase sub and read all the posts from people whose accounts are frozen, still waiting months to get access to their bitcoin. My account was also frozen by coinbase through no fault of my own because of a glitch in their system when I initiated a $500 ACH deposit. I couldn't deposit, withdraw, sell or buy. Support was dogshit auto resolving my ticket without doing anything. I'll never use coinbase again. On top of that, coinbase was recently hacked, leaking customer information. Now I constantly get scammer calls trying to get me to give them access to my coinbase account. Lots of other people LOST their money to these phishing scams. To say nothing will happen leaving your coins on coinbaelse or any other exchange is not only ignorant of what's been going on but also borders on malicious.

SunDreamShineDay

>There is literally ZERO reason to use a stable coin for this if you have access to USD. Perhaps ZERO for you, but not everyone wants the results you do If your priority is safety and preservation of capital, the HYSA like you said is the way to go, however if your priority is crypto access and liquidity, the USDC held on an exchange has advantages. 1. 24/7/365 Instant liquidity in crypto markets 2. Easier to move internationally compared to USD in a bank 3. Crypto transfers are near instant. ACH transfers can take 1-3 business days 4. Some HYSA accounts have monthly withdrawal transaction limits For those wanting the above, USDC on an exchange is the best option

Personal-Reality9045

Increasing block size is a stupid idea, that makes it more difficult for blocks to propagate the network. Smaller and more frequent blocks are better. This has been quantified and measured. Understanding the traditional monetary system and how it solves scaling is crucial. In this space, there appears to be limited understanding of market infrastructure and traditional finance system operations, particularly regarding the role of clearinghouses. Clearinghouses and cryptocurrencies face similar capacity issues, requiring layered system solutions. For instance, Fedwire and ACH can only handle limited transactions simultaneously. These systems are append-only, similar to blockchain technology - when you send a wire transfer, it cannot be reversed, just like cryptocurrency transactions. The base layer wire system solves custody risk, which is an improvement, but still faces clearinghouse capacity limitations. The global financial system addresses this through layers of clearinghouses, including sovereign clearinghouses and various clearing networks. America uses ACH domestically for retail and fed wire for large sums between banks, while SWIFT handles global transfers - both being slow and expensive systems that cryptocurrency aims to expedite. Cryptocurrency also eliminates the need for the Eurodollar system, which countries use for large international trade settlements. Without custody risk, there's no need for this intermediary system that prevents transaction reversals in major international trades while eliminating the sanction ability of the central authority, currently, America. What is also important to note, to solve liquidity issues,in this space, you need the repo market for short term treasury loans. International trade via Eurodollar runs on 2 separate clearing systems. The scaling problem for clearing has been solved but remains poorly implemented. Solutions like netting and multiple clearing systems exist but aren't widely adopted. The concept of scaling a single clearing system to handle global transaction capacity is impractical. Instead, different layers of responsibility are needed, similar to how a rocket uses different stages to address various challenges in space travel. Claiming the correct spec deviated from Satoshi's plan is dogmatic. Mis guided zealotry that pollutes this space, people claiming to properly interpret the white paper as if they were golden idol high priests for religious scripture. Grow up. Put your head down and do some real engineering and bring solutions instead of bitching. Protocols need to evolve as they collide with real world use case. Satoshi is gone. The tech is open source.

StevKrav

What country? ACH?

StevKrav

What country? ACH?

StevKrav

What country? ACH?

SeparateLibrarian396

yeah the ACH thing sucks, i found a place called wehatefeds dot com that lets you buy and receive asap

StevKrav

I signed up with them, and this is what I see when trying to deposit cash: \*\*\*\*\*\*\*\*\*\*\*\*\*\*\* Bank Account Buy now, send in 10 business days Deposit fee waived Up to $3,000 Debit Card Buy now, send now 1.99% deposit fee ($.99 min fee) Up to $500 Wire Details Buy & Send on arrival Deposit fee waived Unlimited Deposits Direct Deposit Buy & Send on arrival Deposit fee waived Unlimited Deposits \*\*\*\*\*\*\*\*\*\*\*\*\*\*\* I was planning on using a debit card, but more than $500, so....??? An alternative is bank account (ACH?) but the wait is 10 DAYS...???

omg_its_dan

Because ACH transactions take several days to clear. Some exchanges will let you withdraw a certain amount once you have enough history, but they’re taking a risk by doing that. If you are buying larger amounts and want the funds available immediately, use a wire transfer.

AtmosphereOdd2644

Alchemy Pay (ACH) will be a big contender in cross border payments and finance 🤙🏼

Apprehensive-Rip-622

What's the benefit of having a bunch of bag holders if the team has assigned all of the tokens to Keeta, Inc. (meaning 40% of the token supply can never be sold)? Why would Eric Schmidt, the former CEO of Google, personally introduce Keeta to the Google Cloud team to serve as a partner and prove that the chain is capable of processing over 10M TPS? Why would Ty Schenk, the CEO of Keeta, be invited to speak at SALT Wyoming on the same stage as people like Eric Trump, Cynthia Lummis, and Chris Waller (among other very prominent figures in the industry)? I don't disagree that we are still in a speculation phase but Mainnet is right around the corner along with multiple partnerships that will be announced with Mainnet or shortly after (all of whom we've been told are large institutional companies - rumors surround Visa, Bank of America, Citi, etc.). I think another thing you are also overlooking is with respect to DSO (how long corporations wait to get paid). Keeta's tech allows companies with payments that traditionally took weeks to clear to be executed in milliseconds. No clearing houses, no waiting on ACH windows, no floating funds in limbo. Just to put this into context, Apple has a DSO of roughly 30 days and in 2023 generated \~$394B in revenue. With a DSO of \~30 days, that's \~$32B stuck in receivables at any given time. Even with Apple's credit profile, financing $32B carries with it opportunity cost, interest rates, and exposure to market risk. Having a solution that can immediately shorten this to milliseconds would allow companies to free up large amounts of working capital instantly, a massive competitive advantage. If you're not interested in the project, so be it. Happy to circle back with you in the coming months and if I'm wrong I'll be happy to admit it. I hope you would grant me the same type of courtesy. Cheers.

chanical

Both RH and Coinbase have ridiculous fees... Gemini is probably the one to go with (no fees for depositing crypto, no fees for withdrawing FIAT using ACH transfers - lower seller/taker fees than both RH and CB) - but also look at Kraken and Uphold (one potentially attractive thing of Uphold is that their limit orders are "all-inclusive" of transaction fees - meaning if you set a limit sell order for 1 ETH at a target price of $5000/ETH, if/when it executes, you will net no less than $5000... sure, the market spot price at the time of the transaction will likely be higher by \~1.5%, but you'll get what you expect)

zeeshiscanning

you can send usd via ACH via strike and they will give you btc in your strike account then you can self custody as and when required

ShaneTitley

Any thoughts on ACH

Fadeeses

On their page it says $50k daily for ACH? https://robinhood.com/us/en/support/articles/spending-limits/

CipherScarlatti

Ripple's hilariously pathetic, cozying up to the tradtional bank system. Trying to be like: "We're gonna be the replacement for ACH transactions!" and after 67 pivots, schemes and attention seeking they're now getting blocked by their "friends".

Django_McFly

In the US, if you want to buy crypto and withdraw it on the same day (a lot of people will confuse trading it on the platform on the same day with withdrawing it) then you usually are going to have to pay a fee and do it via a debit card. Sometimes Coinbase will let me do ACH and instant withdraw but I read up about it and it's some metric based on time you've had your account and transfers done, meaning brand new people can't do it.

strikebtc

No credit card support due to the unique risks that credit brings in (and insane fees). We offer ACH, wire, debit card, RTP, and direct deposit in the U.S.

psychedelicpiper67

Bitcoin Well only offers ACH deposits for U.S. users.

CryptoNerdSmacker

Exactly. If Ripple walked away from the SEC mostly clean, a few banks asking for extra scrutiny probably won’t stop them. Apparently they’re saying it’s part of the process and requisites for getting a national trust charter. This isn’t a typical retail bank application either. It’s to serve big institutions, tapping into FED systems, ACH, SWIFT alternatives, and corporate settlement. Some hundreds of billions, maybe trillions, in annual volume. Even a small slice routed through RLUSD would mean serious transaction activity on both ETH and XRPL. Basically real demand and utility for ETH and XRP. Minting, AMMs, liquidity pools, and trustlines, all of it burns gas and locks tokens. I’ve been watching RLUSD like a hawk since its release. It already hit $600M market cap up $200M in just a month and volume is split around 75/25 between ETH and XRPL. It’s about to break the Top 100 for market cap. If Ripple gets this charter that growth could scale fast.

InfiniteSomething7

Some issues: Chargebacks aren’t inherent to fiat money, they exist due to how traditional banking and card payment networks (like Visa or ACH) are designed. These systems take days to settle behind the scenes, so they allow reversals during that window. Cash itself is fiat, yet has no chargebacks. Chargebacks do exist on centralized exchanges (like Coinbase), but that’s because you’re trusting a centralized party, not because of the underlying asset (crypto or fiat). So saying “chargebacks = fiat” is misleading. It’s really about the settlement layer. Bitcoin does the same thing banking does, just that it does it faster and without trust. The only issue with the speed is the TPS, but despite the hate, it will, like all other things, change when the need arises. Most blocks are barren.

NoLegJoe

Pal, ever heard of SWIFT? Ever heard of SEPA, ACH, BACS, CHAPS?? Banks have been sending money internationally for decades, and they don't need to burn the energy of a medium sized nation to do it.

light_death-note

You sell it for cash, then send cash to bank by ACH

CryptoNerdSmacker

Imo any chain that can support stable coins will thrive. Not just any stable coin either but ones that are fully compliant with USA and EU based regulation being passed for them. A quick look see will net you two stable coins that are the most compliant. #1 is RLUSD, Ripple Labs’ stable coin. #2 is USDC, Circle’s stable coin. RLUSD can be transacted on either ETH Mainnet or XRPL, where ETH and XRP are burned as gas respectively. So you could see that you should pin down which chains and their respective native currencies will thrive leveraging flywheel utility of the native currencies. ETH and XRP get plenty of flywheel utility from stable coin activity on their native chains. This flywheel utility could be stable coin minting, stable coin transactions in general, liquidity pools for currency swapping and bridging, AMM pools, and trustlines established during account/currency creation. All of these create upward pressure on the native currency’s price because of increased demand by the way of utility. Ripple Labs is making a lot of headway in the institutional finance world and some think this may directly interface RLUSD and XRPL to things like ACH, SWIFT, FED, etc. Currently RLUSD’s marketcap is around $600 million, having increase around $200 million in the last 30 days. The ETH Mainnet / XRPL ratio for RLUSD’s volume is around 75/25 ETH/XRPL. Not financial advice but I believe ETH and XRP will thrive simply because of their capture of ever growing stable coin market.

Own_Sky9933

We are about to have exponential growth from A.I. When A.I. agents are training A.I. agents in the near future you could have the equivalent of 10x (probably more it’s so large I don’t think humans can comprehend yet) the productivity of the current workforce. These agents and soon humanoids aren’t going to be trading through the traditional banking system with ACH which takes days to clear. It’s going to be on chain through Bitcoin on Stablecoins. If these agents have no political bias it’s feasible they will want Bitcoin as their unit of account. Buckle up it’s going up forever Laura!!! This is the exponential age!

Cat-a-mount

May I ask what country you're from? I'm wondering if it makes a difference to the limitations you have. I'm in the US and have access to ACH transactions instantly.

Bravadd

Your holding period needs to be at least four or five years then you’ll be fine. You can also consider DCA because going lump sum in at an ACH can be scary. Also, don’t look at the price everyday when you’re not looking to trade

TransportationAny757

Simple case in point: I'm going to buy this dip. On coinbase my daily limit is 2.5k by verified bank ACH Then my money from my verified source will be available to spend on bitcoin possibly by next Friday (5 business days) On RH my limit is 50k ach from verified source, and up to 5k is available instantly. And on top of all that coinbase locked my account down for 16 months while they performed a "manual review". Couple that with only useless bots and underpaid thieves for customer service. IMHO coinbase is for giant corporations and governments, they don't give a flying f*&k about little people

rgnet1

But "as it is today" can be applied to the others. In 1885, "as of today," I cannot reliable get gasoline for my automobile while traveling or mechanics to fix it, but I have plenty of hay and stables available. In 1990, "as of today" I can't reliably send an email to business partners because they may not even be online yet. Or my grandma. "As of today" I can't walk into a store and directly exchange bitcoin for a product. But there's no technological reason this couldn't happen. It's all man-made friction in the way, like arbitrary tax law, statists in government who think they need to protect people from themselves, and middlemen processors that could have been made obsolete. But there's still plenty of things you can do with bitcoin "as of today" even without the middlemen. Individuals and entities can still do transfers peer to peer in a blink of time that banks ACH, wires, and the other archaic means provide. You can still have a true bearer asset in your possession with no storage or transportation cost. There was less incentive for friction with the advent of the internet because the commerce benefits were so broad and so deep, more companies stood to gain from its adoption than lose from it.

horse_meat_taco

I got booted after about 3 weeks. Verified, bank verified and two ACH deposits made and cleared, bought some BTC, then one morning account closed. Try contacting them on X (Twitter). I got ahold of them there and they reopened my account but wouldn't let me buy or send my BTC (that I had to remind them to return to my account) so I sold and moved to a competitor. Support did help, but having to use X to get support and the fact that they closed my account and didn't both to specify what would happen to my fiat and BTC in the closure e-mail was a red flag for me as a new customer.

B1ggusDckus

Dawg, bitcoin is not slow its ffffast! My stock sales settle in 2+ days, my ACH settles in 1-3 days, SWIFT transactions take 5 days, credit card payments need 1-3 days to settle; Bitcoin settles in less than 60minutes completely finalized. \> There is no way to build a kind of protection mechanism to revert transactions Exactly, which is THE selling point of bitcoin. I think there is a large misunderstanding that bitcoin should replace credit cards, it wont. It will be the backbone of the global financial system because it is so damn fast compared to any other clearing solution we have.

ElderMight

It happens *very frequently* going all the way back to 2013. Dozens of exchanges have gone bankrupt or disappeared, leaving their customers with nothing. It does not matter how large the exchange is. The largest exchange in the world has gone down (see Mt. Gox). The largest in the US has gone belly up before too. The most recent batch of bankruptcies happened in 2022 - Celsius, Blockfi, Voyager. Live savings in some cases were gone. Many of those people lost everything. Some got back a fraction of what they had 10+ years later from Mt Gox. I have personally had my account frozen on Coinbase because of an ACH transfer glitch on their end. I couldn't move my money, I couldn't buy or sell it. That was my lesson learned to keep in cold storage where I have complete control. In regard to Robinhood, I would definitely not trust them. Back in 2021 during that epic gamestop short squeeze, Robinhood took away the buy button to keep retail from buying so that institutions could cover their shorts. They screwed over a lot of people who were making money from short squeezing wall street. This is not a game to be playing with your money if you hold serious wealth in it. Learn self custody. It's very easy and it's the most secure.

StackingSats1300

Nope can just schedule it through your bank ACH.

KnightofDis

The quickest way to get a crypto accepted as a payment option is a locked value coin that doesn’t waver or sway like stable coins but is valued at $1. Make this easy to get, something like PayPal with direct integration with ACH and bank transfers. It’d be a gov backed coin to be generally accepted without proven actionable results. But it’s get crypto it’s seat at the table.

ewhim

CEXs like Kraken charge low fees for trades ($100 BTC/USD is $0.25) and have free instant ACH transfers using plaid. You can set limit orders to make buys and sells of coins on the exchange. The CRO fee structures are outrageous ($2.99 convenience fee for cc purchases? Gtfo) and it's user interface is hard to use - this concept of buckets is different from anything anyone else does, but it's preying on your ignorance picking some coins for you to invest in without really knowing what they do. Like take the blue chip collection - CRO coin isn't a blue chip and is not something I want even if the other coins may be decent. Really the only value I see in this is to make it easier for you to spend more on stupid crypto bets without thinking too hard about it.

sirpetis

I personally like to use strike with a recurring buy order setup on a daily, weekly, or monthly interval. After the first few transactions there’s virtually no fees. I have peace of mind knowing that I am buying regularly regardless of price and don’t even have to try. No moving money, no forgetting to buy, and no worrying about price. Just set the interval and dollar amount you’re comfortable with. It will auto withdraw from a bank account via ACH. The sats will stack themselves consistently over time