Topic: Review of my experience with Coinbase.com - page 2. (Read 28746 times)

I have been using them for a while now and for the most part have no issues. Back when the price fluctuated a lot when the price went down considerably I could never buy any bitcoins. Something about they reached their limit or something but cashing out has always been pretty easy. Fortunately I never had a need for support.

Here is my experience with Coinbase.

The sign up was good and I appreciated the complexity of the questions to move me to level 1. I also failed the first time, but second time I got my answers right. I was a little concerned about entering in my bank account info to a company on the net, but I did it with an account that has very little funds and no overdraft protection; so I felt OK. My first transaction went off without a hitch. Didn't like the 5 day wait, but that is their policy; so fine. After the first went through, I felt more confident; so I place my second order and third order. After 4 days, I got a cancellation notice that I was "high risk" and that they would not be issuing me my coins. To top it off, they said that they would be issuing me a refund of the amount in another 3-4 days. The capricious nature of the email made me feel like I was a bad guy even though they were the ones keeping my funds for 8 days. After I complained, they released the funds immediately, but I would rather have had the coins (wish I had known Olaf!). Still waiting to see if my third order goes through today.

My biggest complaint is that the last of communication during the holding time. If they consider my transaction "high risk", place it on hold and let me know what I can do to get me off the high risk category. Need more info? Need to talk to me personally? Whatever they want they can have. If I don't supply them the info, they have every right to protect themselves and cancel the order. I just didn't like how it all went down.

All in all, I like the service. I don't mind waiting for the coins as I am not in a hurry. But the way the cancellation was handled, left a *very* sour taste in my mouth.

***Update*** The third transaction went through with out a hitch. I think that part of the issue on the second order was that I was attempting to upgrade myself to Level 2 and was having some difficulty. If you have an order pending, don't muck with trying to change your status. Either up your level first or wait for all of your transaction go through and then up your level.

Olaf is very good at getting problems solved, just remeber that they are understaffed, and are hiring people to help get support times up.  But if you contact them, they will definitely get your issues solved.  Great company

Nice to meet you Olaf! I'm a happy Coinbase user. My initial application went though without any issues.

Thanks Olaf. I can confirm that Olaf took care of the issue ~2 hours after receiving a PM from me.

I love Coinbase! I love that you can verify your ID and purchase instantly.

@Olaf: Thanks for the wonderful service CB provides, along with the API's.

they are good i used them before +1

Sorry about that! Just reviewed your transaction - you are now whitelisted. Apologies for the false positive!

Why are my transactions now cancelled because they are high risk? This is really annoying. I am a level 2 customer who made successful bitcoin purchases via Coinbase in May, June, and July, and now all the sudden I am high risk.

I sent an email to customer support two days ago and haven't heard back yet.

Yes of course not!

Yea I bought at a high point also. Not coinbases fault though

And as some of you first-timer (like me) had experienced, you bought your first coins, waited five days, and tada--your first coins. You leveled up, bought another batch, and dang--you were flagged as high risk with your transaction revoked!

I emailed Coinbase about this, and I was pleasantly surprised Olaf manually reviewed my account and whitelisted it so that I would not have future problems. My second transaction was also being processed at the price of my original order.

So great experience after that short ordeal!

The sad story is that Bitcoin price is now lower than that purchase price--urgh...

Hey, this is Olaf from Coinbase.

If you have any questions about our service you can post here or PM me. Thanks for your interest!

I just signed up. I verified my bank but I couldn't verify my id, they had questions from a while ago. I'll try again tomorrow.

I like Coinbase, but BTCQuick takes usually less than an hour and you can use a credit card.  

I am form the USA and can say so far my experience has been good. I purchased it a few days ago and it is still pending but I have seen the USD withdrawn from my bank account. It feels much safer than going with an overseas company since many more problems could occur. Will update if any problems occur but so far I will be using them for all my USD --> BTC transactions and vice versa

It's not easy for most people...  I think they only sell bitcoins to the US, other people in other countries don't get the benefit :/

If you send directly from your coinbase to another person, they would know it is from you.  Go to blockchain.info, enter the persons address after you send, and it will show your transaction, and you can see what address it was sent from.  Coinbase creates a new address for every transaction you make.  That address is also permanently yours, so if anyone ever sends anything to it, it goes into your coinbase account. 

Thanks. Yes I thought about doing this, but was wondering what would happen if you sent straight from the Transactions -> Send Money tab to the address of the recipient you'd like to pay. Would there be no way to confirm with them that it was sent by you? I'm not sure why a new address is even created for your purchase if it's empty.

When you receive your order, you go into your account, click on TRANSACTIONS, then click on Send Money.  You can then send to any bitcoin address.  I sent to my personal address, then send from there to whoever I wanted to get the btc.