Stay away from Coinbase | Bitcointalksearch.org

skivrmt

hero member

Activity: 994

Merit: 501

Quote from: vtrac on January 02, 2014, 06:07:38 PM

Quote from: JuAnAuJ69 on December 30, 2013, 05:21:08 PM

All your stories are quite scary... But I have never had any problems with CoinBase, to be honest. In fact I'm Tier III already.

What are your limits at Tier III and how did you get it? I'm T2, but that seems to be all that is listed as available to verify on my account (10 BTC instant, 50 BTC/day).

Pretty sure there isn't a Tier III. What you have is the highest Coinbase will go. 10 instant, 50 / day. Which once you get, being linked to bank account, is by far the best deal out there for Americans. Not sure why people don't like this company. Go through the process, its simple.

vtrac

newbie

Activity: 6

Merit: 0

Quote from: JuAnAuJ69 on December 30, 2013, 05:21:08 PM

All your stories are quite scary... But I have never had any problems with CoinBase, to be honest. In fact I'm Tier III already.

What are your limits at Tier III and how did you get it? I'm T2, but that seems to be all that is listed as available to verify on my account (10 BTC instant, 50 BTC/day).

nahtnam

legendary

Activity: 1092

Merit: 1000

nahtnam.com

Quote from: skivrmt on December 30, 2013, 10:55:11 PM

Quote from: melish02 on December 30, 2013, 07:14:28 PM

coinbase has been a disaster for me.

instant verification took 1 month of BS glitches to accomplish. (no replies from "support" team)

after finally being verified for instant buy, every cancellation is now instantly canceled as "too high risk"!

WTF?

Now, the ability to purchase BTC the old 5 day wait way is gone.

I hope they use their new 25 million well....

What does every cancellation is canceled? You're trying to cancel orders you've placed?

Everyone takes 30 days for instant buys above .1 BTC.

No. Sometimes buys and sells get cancelled because them seem like a high risk.

skivrmt

hero member

Activity: 994

Merit: 501

Quote from: melish02 on December 30, 2013, 07:14:28 PM

coinbase has been a disaster for me.

instant verification took 1 month of BS glitches to accomplish. (no replies from "support" team)

after finally being verified for instant buy, every cancellation is now instantly canceled as "too high risk"!

WTF?

Now, the ability to purchase BTC the old 5 day wait way is gone.

I hope they use their new 25 million well....

What does every cancellation is canceled? You're trying to cancel orders you've placed?

Everyone takes 30 days for instant buys above .1 BTC.

vadoff

member

Activity: 84

Merit: 10

Coinbase has probably been the smoothest for me thus far. Instant purchase is awesome.

melish02

newbie

Activity: 22

Merit: 0

coinbase has been a disaster for me.

instant verification took 1 month of BS glitches to accomplish. (no replies from "support" team)

after finally being verified for instant buy, every cancellation is now instantly canceled as "too high risk"!

WTF?

Now, the ability to purchase BTC the old 5 day wait way is gone.

I hope they use their new 25 million well....

Stan-O

sr. member

Activity: 267

Merit: 250

Stan the Man!

i've never had a problem with coinbase either. other than the 4-5 day wait to actually get my coins, they've been solid. i'm a little too paranoid to verify, so will deal with the wait.

belmonty

sr. member

Activity: 295

Merit: 250

Quote from: CrimsonPermanentAssurance on December 29, 2013, 11:30:04 PM

Honestly, after emailing after a failed transaction, I got an email two weeks later telling me they were approving the transaction AND crediting me .96 btw EXTRA because of what I could have done with the BTC had I had it. I was astounded. Stick with them. It might take a while to get answers, but once you get them, you might also get BTC you didn't realize you had. It was like a Christmas present! This was for a $1300 original transaction, so instead of getting 1.5 btc for that, I ended up getting 2.5 btc.

It sounds like it was worth the long wait then.

What do they do with the current situation of bitcoin prices jumping up and down? Do they charge you the higher price if the transaction is not immediate and the price drops while you are waiting?

JuAnAuJ69

newbie

Activity: 20

Merit: 0

All your stories are quite scary... But I have never had any problems with CoinBase, to be honest. In fact I'm Tier III already.

nahtnam

legendary

Activity: 1092

Merit: 1000

nahtnam.com

Quote from: skivrmt on December 30, 2013, 10:24:21 AM

Quote from: reav on December 30, 2013, 02:06:27 AM

Brian Armstrong (the CEO of coinbase) participated in an interesting panel during the 2013 bitcoin conference. It's worth a watch if you want to get an idea of why they have to resort to such an extreme verification process.

vid here: https://www.youtube.com/watch?v=E7Dl7vIGnU0

This. They are a US company under US laws. I like them taking forever to verify people and going through the process. The more regulation you have the better the lawmakers will look at BItcoin and the companies supporting them that they are for legit reason and not all for money laundering and drug buying.

This brings up a good point. Many Americans view bitcoins as a criminals currency and so they dont use it. If we can prove that its safe then more and more people will start to buy.

organizer

sr. member

Activity: 378

Merit: 250

Just to pipe in, using Coinbase for a month with no issues. Been able to sell and withdraw without issue. Have not done the purchasing process though, so don't know if that's a more complicated process.

MNDan

full member

Activity: 287

Merit: 101

Yeah - but do you all trust Coinbase enough to keep your bitcoin out on the site? I'm working on getting my cold storage process down, but in the mean time I've got some bitcoin just sitting out there. Hopefully it's safe - the 2-step authentication seems pretty solid, but I know it's never safe unless you have them in possession.

vtrac

newbie

Activity: 6

Merit: 0

When I first created my account, I had Coinbase cancel 2-3 deposits due to "suspicious" activities. However, after email them I haven't had any issues ever since. They're certainly the easiest to use, and I feel the most confident about them over other sites (like mtgox, btc-e, etc).

MrMirkin

newbie

Activity: 24

Merit: 0

Just want to note that I have used coinbase twice to sell BTC. Fiat showed up promptly w/o any issue. I have yet to purchase BTC with it, but works great for selling

monsterkill

newbie

Activity: 9

Merit: 0

skivrmt

hero member

Activity: 994

Merit: 501

Quote from: reav on December 30, 2013, 02:06:27 AM

Brian Armstrong (the CEO of coinbase) participated in an interesting panel during the 2013 bitcoin conference. It's worth a watch if you want to get an idea of why they have to resort to such an extreme verification process.

vid here: https://www.youtube.com/watch?v=E7Dl7vIGnU0

This. They are a US company under US laws. I like them taking forever to verify people and going through the process. The more regulation you have the better the lawmakers will look at BItcoin and the companies supporting them that they are for legit reason and not all for money laundering and drug buying.

hank99

newbie

Activity: 3

Merit: 0

coinbase can be extremely aggravating. lack of explanation for their actions is what really gets me. some people say they have good customer service but theyve never replied to me.

reav

newbie

Activity: 1

Merit: 0

Brian Armstrong (the CEO of coinbase) participated in an interesting panel during the 2013 bitcoin conference. It's worth a watch if you want to get an idea of why they have to resort to such an extreme verification process.

vid here: https://www.youtube.com/watch?v=E7Dl7vIGnU0

caleb5705

newbie

Activity: 1

Merit: 0

There is nothing wrong with coinbase. You just have to go through their entire one month verification process.

CrimsonPermanentAssurance

full member

Activity: 155

Merit: 102

And just so everyone knows, this happened on December 27!

Topic: Stay away from Coinbase (Read 17009 times)