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Title: Coinbase Instant Buy, 1% Fee Post by: kireinaha on November 26, 2013, 08:46:56 PM I`ve heard that if you link a credit card to your account on Coinbase, they`ll allow you to instantly buy 1 BTC per day. What I`m wondering, and what I hope someone can confirm is, if you keep a low balance in your bank account, they would then draw funds from the `backup` credit card, correct? From the customer`s perspective, wouldn`t this be ideal?
What I mean is, most of us with our dirty FIAT credit cards get rewards, such as 1% cash back. If we could `force` coinbase to utilize the credit card, would we not be essentially making exchanges for free (ie. nullifying the 1% coinbase exchange fee)? Anyone try this? Title: Re: Coinbase Instant Buy, 1% Fee Post by: bronco1769 on January 15, 2014, 04:26:20 PM Bump. Has anyone tried/had success with this?
Title: Re: Coinbase Instant Buy, 1% Fee Post by: KJO on January 16, 2014, 01:20:42 AM I`ve heard that if you link a credit card to your account on Coinbase, they`ll allow you to instantly buy 1 BTC per day. What I`m wondering, and what I hope someone can confirm is, if you keep a low balance in your bank account, they would then draw funds from the `backup` credit card, correct? From the customer`s perspective, wouldn`t this be ideal? What I mean is, most of us with our dirty FIAT credit cards get rewards, such as 1% cash back. If we could `force` coinbase to utilize the credit card, would we not be essentially making exchanges for free (ie. nullifying the 1% coinbase exchange fee)? Anyone try this? First, the credit card must be a visa. Coinbase will not accept a mastercard for ID verification. Second, you are right, the credit card will only be used if your bank account funds are low and they need additional funds to satisfy payment. I don't know anything about 1% rewards but it could theoretically work. Title: Re: Coinbase Instant Buy, 1% Fee Post by: xtrm on January 16, 2014, 02:59:05 AM I`ve heard that if you link a credit card to your account on Coinbase, they`ll allow you to instantly buy 1 BTC per day. What I`m wondering, and what I hope someone can confirm is, if you keep a low balance in your bank account, they would then draw funds from the `backup` credit card, correct? From the customer`s perspective, wouldn`t this be ideal? What I mean is, most of us with our dirty FIAT credit cards get rewards, such as 1% cash back. Credit card purchase may be coded as "cash advance" by the Bank and it wouldn't be counted for cash back either. In that case its not advisable to purchase with CC. YMMV Title: Re: Coinbase Instant Buy, 1% Fee Post by: blackhathasher on January 16, 2014, 03:04:13 AM This is probably a worthless post because it should go without saying... BUT
Coinbase REALLY needs to get a better handle on the Instant Buy deal... I mean... I am currently trying to obtain a friggen Visa card solely because I hate getting screwed over by Coinbase's 4 business day hold on purchases... Gaw! I am loath to use credit cards and this really doesn't sit well with me... Coinbase... are you listening? Title: Re: Coinbase Instant Buy, 1% Fee Post by: tk808 on January 16, 2014, 04:28:07 AM This is probably a worthless post because it should go without saying... BUT Coinbase REALLY needs to get a better handle on the Instant Buy deal... I mean... I am currently trying to obtain a friggen Visa card solely because I hate getting screwed over by Coinbase's 4 business day hold on purchases... Gaw! I am loath to use credit cards and this really doesn't sit well with me... Coinbase... are you listening? Yes Title: Re: Coinbase Instant Buy, 1% Fee Post by: koshgel on January 16, 2014, 04:41:25 AM Not brave enough to try this out considering you might get smacked with oodles of charges from your cc.
Title: Re: Coinbase Instant Buy, 1% Fee Post by: BitCoinPokerBro on January 17, 2014, 03:06:48 PM It was so much better when they didn't need a CC to verify. I mean seriously my SS number and bank info isn't enough?
Title: Re: Coinbase Instant Buy, 1% Fee Post by: bit-fxtrader on January 21, 2014, 10:00:04 AM why do they need a cc? can't you just wire the funds?
Title: Re: Coinbase Instant Buy, 1% Fee Post by: danieldaniel on January 21, 2014, 11:38:37 AM I`ve heard that if you link a credit card to your account on Coinbase, they`ll allow you to instantly buy 1 BTC per day. What I`m wondering, and what I hope someone can confirm is, if you keep a low balance in your bank account, they would then draw funds from the `backup` credit card, correct? From the customer`s perspective, wouldn`t this be ideal? They mark it as cash advance. You won't get any rewards.What I mean is, most of us with our dirty FIAT credit cards get rewards, such as 1% cash back. If we could `force` coinbase to utilize the credit card, would we not be essentially making exchanges for free (ie. nullifying the 1% coinbase exchange fee)? Anyone try this? |