Author

Topic: Question about buying through Coinbase... (Read 58 times)

jr. member
Activity: 58
Merit: 13
April 08, 2021, 09:02:27 PM
#5
From: https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-long-does-a-purchase-or-deposit-take-to-complete#:~:text=The%20ACH%20bank%20transfer%20system%20typically%20takes%203%2D5%20business,prior%20to%20confirming%20your%20order.

Quote
When using bank transfers, the ACH bank transfer system is used for payments with your bank account. The ACH bank transfer system typically takes 3-5 business days* (which may be as many as 7-10 calendar days, depending on the timing of weekends and other bank holidays) to complete after initiating a purchase. The timing will be displayed prior to confirming your order.

You may see the funds immediately debited from your bank account when you initiate the transfer, but the funds will not be transferred to your wallet until your payment has finished moving between the banks and clears in our bank account.


From when I used it it's usually between 2 to 3 days.
Depends on your bank and the amount.
Also probably a bit of "how long have you been with Coinbase" built into the hold time.

Don't worry about it, you will have it in a few days.

-Dave

Thanks for posting this Dave!.. Makes sense now...
jr. member
Activity: 58
Merit: 13
I've never bought there, but I have an account there. Are you a new user? if true, whether your account has been verified KYC. If I'm not mistaken, each account there requires the user to fill in data. Usually using an ID or Passport. If you have done KYC but have problems, you need to ask the support there.

I've been there a month or more.. ID is all loaded up on their site.
legendary
Activity: 3458
Merit: 6231
Crypto Swap Exchange
From: https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-long-does-a-purchase-or-deposit-take-to-complete#:~:text=The%20ACH%20bank%20transfer%20system%20typically%20takes%203%2D5%20business,prior%20to%20confirming%20your%20order.

Quote
When using bank transfers, the ACH bank transfer system is used for payments with your bank account. The ACH bank transfer system typically takes 3-5 business days* (which may be as many as 7-10 calendar days, depending on the timing of weekends and other bank holidays) to complete after initiating a purchase. The timing will be displayed prior to confirming your order.

You may see the funds immediately debited from your bank account when you initiate the transfer, but the funds will not be transferred to your wallet until your payment has finished moving between the banks and clears in our bank account.


From when I used it it's usually between 2 to 3 days.
Depends on your bank and the amount.
Also probably a bit of "how long have you been with Coinbase" built into the hold time.

Don't worry about it, you will have it in a few days.

-Dave
hero member
Activity: 1400
Merit: 770
I've never bought there, but I have an account there. Are you a new user? if true, whether your account has been verified KYC. If I'm not mistaken, each account there requires the user to fill in data. Usually using an ID or Passport. If you have done KYC but have problems, you need to ask the support there.
jr. member
Activity: 58
Merit: 13
Hey Gang,
I've been purchasing my BTC through Coinbase.
When I do this, my account at Coinbase is linked directly to my bank account.
The purchases I make are instant.
One thing I notice is that after I purchase BTC, if I want to transfer it to my cold wallet, I can't do all of it.
There's a waiting period.. for how long, I can't remember.

Why do I have to wait to transfer something that is taken directly out from my bank account?
Example.. THESE NUMBERS ARE NOT TRUE, this is just an example.

Coinbase says I can buy up to $10,000 of BTC.
I purchase $10,000 of BTC.
That $10,000 is sitting in the Coinbase wallet.
I can't transfer it to my cold wallet.

Does anyone know how long it has to sit in that Coinbase wallet before it can be transferred?

Seems weird..

Thanks!
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