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Topic: Stay away from Coinbase - page 3. (Read 16992 times)

newbie
Activity: 9
Merit: 0
December 18, 2013, 10:08:39 AM
Thanks ldh37
Very kind of you.
Regards
member
Activity: 116
Merit: 10
December 18, 2013, 09:49:00 AM
Hi
I have a small portion of bitcoins in my Coinbase.
the problem is that I don't have an American bank account and I'm not even American.
I'd like either to withdraw or transfer that little amount to BTC-e or into the bitcoin wallet from there.
Are these two options possible by any chance?
Thanks for your help

You can send your BTC to your BTC-e or local wallet address from the "Send/Receive" page on Coinbase.  Just choose "Send" and provide the wallet address you want to send the BTC to.
newbie
Activity: 9
Merit: 0
December 18, 2013, 06:47:53 AM
Hi
I have a small portion of bitcoins in my Coinbase.
the problem is that I don't have an American bank account and I'm not even American.
I'd like either to withdraw or transfer that little amount to BTC-e or into the bitcoin wallet from there.
Are these two options possible by any chance?
Thanks for your help
legendary
Activity: 1092
Merit: 1000
nahtnam.com
December 17, 2013, 08:25:47 PM
Thanks for the warning. All Bitcoin trading noobs should heed the advice. They'll probably just Google search and find them, not knowing what they're getting into.
One should always research well ahead of completing any transaction online.

Coinbase is a legit company. If you had read this thread, you would have known that this issue got fully resolved.
newbie
Activity: 4
Merit: 0
December 17, 2013, 08:07:32 PM
Thanks for the warning. All Bitcoin trading noobs should heed the advice. They'll probably just Google search and find them, not knowing what they're getting into.
One should always research well ahead of completing any transaction online.
legendary
Activity: 1092
Merit: 1000
nahtnam.com
December 17, 2013, 07:12:00 PM
I have recently created an account with Coinbase and have had no problems so far.  Not sure if anyone has mentioned it in this thread yet but an employee of Coinbase posted on reddit the other day that they are really swamped with all the new accounts created in the last few weeks and are working hard to get caught up.

What is the username of the employee?
newbie
Activity: 9
Merit: 0
December 17, 2013, 04:58:26 PM
I have been using coinbase since about april for both buying and selling and aside from the 4 day wait period to buy i have never had any issues. Its annoying yes. But its the most reliable way for me to buy at the moment local bitcoins in my area is just insane people want to charge ridiculous fees.
sr. member
Activity: 406
Merit: 250
December 17, 2013, 11:56:37 AM
Thanks for the warning. It helps a lot.
newbie
Activity: 2
Merit: 0
December 17, 2013, 11:44:48 AM
I've seen reports from users about the wait time. Can someone tell me why they do this? I mean a transaction should be fast but they delay it for what? Why?

Seems to me that one of two things is at play, but without knowing how they operate, it's hard to say. Are they basically acting as a broker for you, executing all buys/sells? If so, and they won't sell while high, it's likely due to them being worried that THEY won't cover/profit when THEY sell the coins they just bought from you. Additionally, if that's how they're doing it and it's just 1 or a few greedy individuals, it may be a ponzi scheme and they can't cover a high sell because they don't have the money... Not sure why you wouldn't go straight to an exchange and execute the buys/sells yourself though? Is that not an option? I commented to someone about how unregulated the CC industry is and figure it's a matter of time before the gov't steps in and requires all transaction be handled by licensed brokers but I guess I don't know if the market has managed to regulate itself in that manner.
full member
Activity: 224
Merit: 100
December 17, 2013, 11:40:21 AM
I've seen reports from users about the wait time. Can someone tell me why they do this? I mean a transaction should be fast but they delay it for what? Why?


Once they give you the bitcoins they are gone. They have to make sure the transaction won't be reversed. What I don't understand is why they don't let you deposit funds, wait 5 days, and then buy the coins if you want. Seems better than holding BTCs for 5 days.

full member
Activity: 362
Merit: 100
December 17, 2013, 11:27:53 AM
I've seen reports from users about the wait time. Can someone tell me why they do this? I mean a transaction should be fast but they delay it for what? Why?
newbie
Activity: 13
Merit: 0
December 17, 2013, 01:29:26 AM
I have recently created an account with Coinbase and have had no problems so far.  Not sure if anyone has mentioned it in this thread yet but an employee of Coinbase posted on reddit the other day that they are really swamped with all the new accounts created in the last few weeks and are working hard to get caught up.
newbie
Activity: 2
Merit: 0
December 17, 2013, 01:13:28 AM
I too went through all the trouble for instant verification with coinbase.  The fluctuation of bitcoin is to unstable for my tastes.  I remember a few months ago when coin was hovering around 120USD/coin.  Come back to it after 5 months and it bounces between 600-1k USD/coin.  I've been using localbitcoins lately, it takes a bit of time and effort, but definitely worth not having to wait to have my order be canceled because it is labeled High Risk.
full member
Activity: 224
Merit: 100
December 17, 2013, 12:49:23 AM


I really prefer US based, US venture funded, because of the fact that I can get legal issue solved.

I know this is why I used coinbase. Yeh, its a pain waiting or completing the steps for instant buys, but I'd rather deal with than the mess at all the exchanges.
legendary
Activity: 1092
Merit: 1000
nahtnam.com
December 17, 2013, 12:44:16 AM
I use coinbase and didn't have to jump through the same hoops the OP described to deposit/withrawl.

If you are in America it gets really easy but anywhere else and it gets a hassle.
full member
Activity: 243
Merit: 100
December 17, 2013, 12:42:37 AM
I use coinbase and didn't have to jump through the same hoops the OP described to deposit/withrawl.
legendary
Activity: 1092
Merit: 1000
nahtnam.com
December 17, 2013, 12:38:41 AM
Lel. you guys sucks. Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin

ya coinbase sucks

Did you guys not read the tread? The issue got solved. The title is not misleading.
legendary
Activity: 1092
Merit: 1000
nahtnam.com
December 17, 2013, 12:38:11 AM
Coinbase is US based and US Venture backed company.   Their investors want them to go public or get bought out at some point.  They are in this to make money and in a lot of respects that seems to be at odds with the whole idea of digital alt currency.

We are in the process of thinking through an anti-Coinbase.   Faster processing times, less transaction fees, Non-US, No venture funding etc.    Idea would be this would be a platform built by people in the community for the community to use.   Feel free to PM if of interest to you to discuss further.





I really prefer US based, US venture funded, because of the fact that I can get legal issue solved.

Good point.

Yep! Their office is about an hour away from my home so if they mess up, ill literally barge into their office.
newbie
Activity: 4
Merit: 0
December 16, 2013, 11:16:57 PM
Lel. you guys sucks. Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin
newbie
Activity: 4
Merit: 0
December 16, 2013, 10:57:11 PM
ya coinbase sucks
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