Bitcoin Vault

[Jking]

Please bear with me I am a newbie with bitcoin. My ? is I have a coinbase Account with a bitcoin wallet and a Bitcoin Vault. Can I buy bitcoin from my vault or can I transfer from my vault to my wallet? I dont think I can but I wanted to make sure.

Thanks for your time
Jking

 

[JohnnyTHeBig]

Hi Jking
the reason why there is a Vault is to secure your BTC. Thats why its unlikely to buy directly out from the Vault. I have to wait around 48 hours.
Deposit your BTC only in a Vault if you do not need it in the next time. Otherwise use an Hardware wallet like Ledger.
You're welcome

 

[FoundWalter]

Like Johnny wrote already. The Vault is to secure your coins. It is free to transfer them to your normal wallet/account. But it takes 48 hours and you get informed by mail several times. To make sure that you gave the order.
Its really nice feature. Beside that coinbase is expansive in sending BTC around.

 

[torusJKL]

It is good practice not to keep bitcoins with a custodial company.
(not your keys, not your bitcoins)

I would recommend that you read about paper and hardware wallets and once you a confident not to loose the private keys or the seed to your wallet you should withdraw the bitcoins from Coinbase to your own wallet.

Feel free to ask questions about wallet and how to keep your bitcoins secure.

 

[Jess]

I have my Bitcoin in a vault in coinbase, I would like to withdraw it to a wallet. It’s only giving me the option to withdraw it and deposit into my bank account. Is there a way to avoid it going into your bank account?