Topic: Stay away from Coinbase - page 2. (Read 16992 times)

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.

I second this.  I do use foreign exchanges simple for diversification I prefer Coinbase over them.  Its linked to my bank account for instant buys and very simple to use. 

I also like its a US company with big backers.  Who knows if it's "safer" than Bitstamp or Gox, but I trust it a bit more to get my money out, fast, if ever needed!

i havent had any issues with coin base..

and its a usa company so i feel more comfortable with them.

I've never had any issues with coinbase at all and I use them daily most purchases/sells that I've been conducting are around 0.1-1 BTC each

If you find a way to contact support, they would gladly give you a btc at the price that you failed to get.

Just wanted to add my voice to the chorus about Coinbase difficulties.
I went through the full verification, linked bank account, etc. and was
told I was all set to begin purchasing. I tried on 4 separate occasions
and every one was shot down as "high risk", even once when the price
of bitcoin went down over $150 while I was waiting for my order to be filled.
It looks to me like Coinbase just doesn't have enough bitcoins to sell.
This, coupled with the fact that localbitcoins is essentially useless in my area
is causing me to become very disillusioned with bitcoins in general. How are
they ever going to become the currency of the future if you can't even buy any?

@M1sty Yes you can invest in BTC therefore you'll exchange them for example with a seller.

Hi,  id like to start investing in bitcoins.  What exchange is best?  I'm hoping this will someday pay for my tuition fees!

I haven't had any problems with coinbase. All I had to do was put it bank info order some btc then in 4 days they credited it to my account. Why do some people have to go through all those hoops? I'm just curious.

If they say they have reached their buy limit, you should wait until they get more coins to buy from them.  Otherwise they will take the money out of your account and give you the market price as of the date they give you.  Coinbase is not an "exchange" it's more of a wallet service.  I use coinbase all the time and so do my friends and it is fine.  It's not a "scam".  If you need a question answered it's best to post in the coinbase Q/A on their site or on the reddit page.  Emailing them directly is pretty inefficient.  It takes forever to get an answer. 

^  THAT ^


Is awesome.

I have had no trouble with them, not when compared with Cryptsy, Coins-E, CHICOIN, and all the other shady shiite out there.

That being said, they are pretty loose with your time before you hit Tier II...

Just an update with my fiasco...I never did hear anything back from Coinbase regarding my situation, so today I started opening dozens of cases, actually over 100, just to see if anyone would respond, and what do you know, someone calling himself Rees finally responds and asks me to stop opening all those cases.  Again, to all you Coinbase apologists, don't you think it's pretty dern ridiculous that I had to resort to such a juvenile move as flooding them with cases just to get a friggin' response??  If you were in my position at this point, wouldn't you be forced to conclude that Coinbase sucks?

I agree with the above.  I have my main bitcoin account at Coinbase and have had zero problems with it, EVER.  I can buy and sell up to 10 bitcoins instantly with no waiting (you have to make a purchase then wait 30 days, no biggie).  I also have accounts at other sites (I'm a finance guy and like diversification because you never know) and have no problems with them either, just have to deal with wire fees and foreign banks (as a US citizen).

On Sunday I put in a .3BTC order in their system, Bank transfer finished completed yesterday. Bitcoin transfer is in pending state and scheduled to be completed on Monday. I bought at $644 and they are now at $735...so we shall see.

I use coinbase all the time and it works great. It took a while for my account to verify but since then I've had no problems.

It's not clear which account was hacked. Did they use your bank account, your credit card, or your coinbase account?

Following advice from a financial newsletter, I decided to open an account with Coinbase. I listed, and verified, one of my credit cards as a back-up source for transactions funding. I also provided banking information, but didn't verify the account, because the verify transactions hadn't posted yet. Lucky me they weren't. After the credit card was verified, someone went on a shopping spree using that account. ALL transaction were done in CA. I live in NY. I was contacted by the credit card company, and I was were able to stop this. I'm convinced someone at Coinbase IS responsible for this.  STAY AWAY as far as you can.

I was researching for several weeks and watching this thread go back and forth on Coinbase recommendations, and the really odd transaction delays (why not use same day wires instead of ACH to cure the reversibility issue?). I appreciate the postings on both sides. 

I decided to use Bitstamp instead. The verification process took four days and the international wire took only 24 hours even though they said to expect 4-5 days. Less than a week in all.  I've been buying BTC (instantly) through the Bitstamp exchange ever since, which has been great during this dip in BTC value.

Thank you again.

i didnt know that. Thanks for info...

I felt I needed to add my .02btc to this topic, and relate my experience with Coinbase.

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.

I've read lot of excuses for the lousy service by some Coinbase apologists here, but really, I'm a customer, Coinbase is (ostensibly) performing a paid service, so if their performance is this crappy, maybe they should find something else to (not) sell.