Topic: Why don't ICO's use Coinbase or similar services for payments? - page 2. (Read 874 times)
September 08, 2017, 07:35:17 PM
Coinbase has some very small withdrawal limits. It also takes a long time to get an account verified in order to increase your limits. ICO's raises millions of dollars and it would take them forever to withdrawal the funds if they needed it immediately. I think that is one of the main reasons why Coinbase isn't used.
September 08, 2017, 07:05:05 PM
I guess main reason is loss of control over the currency and the account the currency is placed on.
I would assume that ICO startups use the currency to find investors by saying that we have this and that amount of virtual currency on our account valued at xxx millions of USD which can be used as a guarantee that the investor will receive a return of investment.
But of course allowing Coinbase or any regulated exchange to carry the money would certainly add more trust to the ICO campaings
I would assume that ICO startups use the currency to find investors by saying that we have this and that amount of virtual currency on our account valued at xxx millions of USD which can be used as a guarantee that the investor will receive a return of investment.
But of course allowing Coinbase or any regulated exchange to carry the money would certainly add more trust to the ICO campaings
September 08, 2017, 06:50:23 PM
Can one of you tech savvy guys tell me why ICO's don't use services like Coinbase to accept funds for their ICO's?
I see in my account where I could add a shopping cart to my website to take payments in many different coins (the same way I would add a Paypal cart) and that takes about 5 minutes. Why don't these guys just use one of these services and they could accept just about any coin?
Does it have to do with the audit process? (i.e. wallet numbers are not the same with a service?)
I am new at this so please go easy on me
I see in my account where I could add a shopping cart to my website to take payments in many different coins (the same way I would add a Paypal cart) and that takes about 5 minutes. Why don't these guys just use one of these services and they could accept just about any coin?
Does it have to do with the audit process? (i.e. wallet numbers are not the same with a service?)
I am new at this so please go easy on me
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