Topic: Coinbase? - page 2. (Read 1609 times)

I can tell you my experience with Coinbase, and it is lousy. 

On Dec. 10th I placed an order with them for .30btc, after following all their procedures to the letter and linking my bank account.  The order became "pending" on Dec. 12th, and on Dec. 16th the order was cancelled.  The reason given was that the transaction was cancelled because it was "high risk", meaning, according to their definitions, a reversable transaction because the funds came from a bank withdrawal.  Now, according to that definition, since any bank-withdrawal-based transaction is by their thinking "reversable", that would mean all bank-linked transactions would be "high-risk" and therefore Coinbase shouldn't even allow that option.

Of course, it doesn't end there.  ALL attempts at communication, through their site and through e-mail support are ignored.  You can open a case on their site, but of course the case is also ignored.  So I spent $291, Coinbase took it, cancelled the transaction, has my money and will not respond to any attempt at contact.

This is not some angry rant.  This is a factual account of my interaction with Coinbase.  I will give them a bit more time to refund my money, and then I will contact the California State Attorney General's office to try to initiate proceedings against them. 

However this turns out, Coinbase's conduct in this matter, and their cavalier lack of conduct, is at best thoroughly unprofessional and at worst actionable.

I started with Coinbase, as it was easy to get an account set up. I have no complaints about them as a service, except their strict limitations on buying and selling and fees. As a newbie you can only buy up to 10 BitCoins per day and only sell 50. It takes at least 30 days to be able to buy up to 50 or to buy at instant speeds instead of waiting 4 days. For buying and holding this is fine, but for daytraders they are impossible hurdles. Also, they have 1.0% transaction fees on both buying and selling.

If you are willing to do the paperwork and wait a couple of days for approval and for your funds to be wired, you can trade without limitation and even with leverage on a margin and short coins on Bitfinex. Neither site ran off with my money or coins, so far .

coinbase is great if your in the US

You don't need a merchant account to  buy and sell bitcoins.  You can send coins from Coinbase to your MultiBit wallet and vice versa.  I think it is a good idea to send the coins you purchase on Coinbase immediately to your wallet (Coinbase pays the miner fee for you).  That way, you have them safe and secure in case anything happens (hackers, bankruptcy, whatever).

Another coinbase user here. I absolutely love them! They also just got another $25M in investment if I recall. Great company.

Use Coinbase at your own risk.  I was able to make a very large purchase when Bitcoins were over $1,000, but since then they have rejected all three of my buy orders at a lower price, despite coming from the same bank account I verified and made my first purchase from.  I also see numerous complaints on Reddit and Youtube anytime they are mentioned.  For some people they have been fine, for others they have had major problems. 

Also, if you log in and click "Support" at this time, you are taken to a 403 Error page. 

Just be careful.

So I would have a coinbase wallet and my multibit and I can send to and from each other? Also to sell BTC for USD do I need to setup a merchant account or can I do it with a basic, thank you so much!

coinbase rocks for us users

You can very easily transfer in and out of Coinbase.  In your Account Settings page within you Coinbase dashboard, you can find your wallet address, which you can create more of if needed.  Their send/receive features are very easy to use.  Coinbase is the first and only place that I bought BTCs from.

Can I transfer my multibit wallet to coinbase? Thanks

i personally like coinbase. very easy to use

Can anyone vouch for them? Am I able to setup an account and transfer my multibit wallet there?  Thanks