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1  Other / Archival / Re: CoinRnr.com - Buy and Sell Bitcoin FASTER (US Based, Cash Deposits, 15 MIN) on: January 25, 2014, 02:18:32 AM
Thanks CoinRnr!  I usually don't write reviews unless I am very pleased or very disappointed.  Since this is such a new (and in the BTC world therefore risky) service, I felt it was my duty to report on my transaction.

I actually came across your site when I saw a listing of yours on localbitcoins (TerryCoin?).  I was about to make a purchase but you took the listing down just before I was able to submit it.  I was a bit disappointed until I saw the link to your site.

1) I submitted my purchase info (email address, BTC address, how much to buy, etc.)
2) I went to the bank and made a deposit (using an out of state deposit slip)
3) I scanned and uploaded the receipt with my order number written on it.

After uploading the receipt I went to fill a glass of water.  When I got back, the transaction was already submitted to the BTC network!  I personally don't care about super fast service (since I wasn't spending them immediately), but I know that this is very important for many people, so for those that do care, it was very fast!  CoinRnr claims to send within 15 minutes, but I think I got mine in less than 1.

(Sorry if my "Cons" seem overly critical, but I wanted to find at least 5 things for each category and, to be honest, was a little hard. Tongue)

Pros:
  • Easy to use and friendly UI
  • Well written and easy to follow instructions
  • No ID required (at least at my bank)
  • 5% premium over Bitstamp (I believe this is what it came to on my order.)
  • Small but very reasonable window of time to drive to the bank
--Overall, very good!--

Cons:
  • Small hassle of having to scan/photograph a receipt (This is not a big deal to me whatsoever, but it's merely a note to those that find it inconvenient)
  • Via Terms: "We reserve the right to cancel any transaction at any time prior to the release of bitcoin."  This is a policy that I do not like for one simple reason.  If the price goes up, are able to cancel a transaction with this clause.
  • Via Terms: "In accordance with these policies, CoinRnr reserves the right to hold payments that appear suspicious until a suspicious activity report has been filed and cleared with law enforcement."  This has been addressed above in prior comments.  If this is in fact simply a requirement of AML/KYC, then there isn't really anything we can do about it.
  • Lack of an escrow account on a 3rd party.
  • New service with almost no known reputation. (Feel free to correct me if I am wrong.  That being said, everyone has to start this way!)
--Overall, reasonable!--


Overall rating

I highly recommend CoinRnr's service!  It's super new and therefore has almost no backing reputation, so of course be careful.  I obviously can't speak for anyone else, but my experience was smooth and pleasant!  Thanks again!
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