1. DO I have to wait for that transaction to finish before I make another purchase for a different amount, or to buy more than 1 whole bitcoin for whatever the price is at that time? Can I make more purchases regardless of pending ones?
2. Do I have to wait 30 days and if so what is the delay for? I read that on here somewhere about coinbase that there's a 30 day period of wait time. I don't know what it's for. Need clarification.
3. If I intended to make an order for 1 "whole" bitcoin at whatever market price, say $450. I click BUY, and then coinbase doesn't process the transaction until 4 days from now, are they going to process it at the price I clicked BUY for ($450) or are they going to process it according to whatever the price is when they get to it - whether higher or lower...trying to understand how this is working.
4. Do I have to request the amount and then wait 4 days for it to be transferred to my account and THEN make the bitcoin purchase or is the request itself the bitcoin purchase?
1. You don't have to wait for pending purchases to complete before buying more, the only thing you may have to wait for is your daily/weekly buy and sell limits.
2. The wait limit is for Level 2 verification, which requires more identification and raises the limits but is unnecessary if you don't need the increased limits (you probably won't).
3. It is processed at the market price at the time you clicked buy, but the money may not be withdrawn from your bank account for a few days and you won't receive the bitcoin until after that.
4. The request itself is the purchase.
5. Coinbase handles your purchases like Amazon; the purchases and bank withdrawals correspond, but are not simultaneous and your USD is never stored in your Coinbase account.
Hope this helps!
