Coinbase Pulls Plug on Xfers

The journey into Cryptocurrency has not been easy. Recently, Ethereum has been on a downtrend with prices falling below USD$500. Today, I received a notification from Coinbase, the digital wallet that I am currently using to cash out the Ethereum from my mining (Profit Update After A Month of Mining Ethereum).

Coinbase notified that they are going to sunset Xfers on 15th May 2018. Currently, if you sell Ethereum using Coinbase, you can deposit the sale profits to Xfers and then use Xfers to transfer the cash to your Singapore local bank account.

On May 15th, 2018, Coinbase will pause the ability to buy or sell digital assets using the Xfers integration.

The growth of cryptocurrency interest within Singapore is heartening. However, we soon realized that the Coinbase/Xfers integration is not suitable in its current form to handle the growth. This change will allow both companies to prioritize efforts to provide a better payment experience for customers and focus resources on new projects. – Coinbase FAQ

What Is the Impact to Singapore Customers?

You can still pay for your purchase of Ethereum or Bitcoin using your credit card but you cannot sell Ethereum or Bitcoin on Coinbase! OMG, this means there is no way for you to cash out your digital assets!

I guess I have to source for a new method to cash out my profits from Ethereum. Can someone share an alternative?

2 thoughts to “Coinbase Pulls Plug on Xfers”

  1. Theory but haven’t really tried before:
    Register for a quoinex account. Once verified, link a sg bank account. Send eth to this account. Withdraw. I think withdrawal is only sgd5.
    Let us know if this works. thanks!

  2. Hi, there is a new startup crypto exchange that you can sell BTC and ETH without the use of 3rd party fund transfer. It’s called Tokenize and do share with me an email you would like to sign up so I can earn some referral bonus. Hehe…

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