GOCOIN payment processor help

[CryptoGore]

Hi i was thinking to use Gocoin to accept payment on my website.

I see that they make payouts and i cannot withdraw directly my funds...are they legit? When the payout will be made, at which time of the day or which day of the week?

Thanks to everybody.

[CryptoGore]

Anyone?

[xhomerx10]

Anyone?

 You should only bump once in 24 hours.
What made you select that particular payment processor?  Did you need to convert to USD?

[CryptoGore]

Anyone?

 You should only bump once in 24 hours.
What made you select that particular payment processor?  Did you need to convert to USD?

I like the way they manage the conversion rates and i thought that it is backed by a strong team, as i see from linkedin pages, althought is not so clear to me how some stuff works.

In example they make daily payouts instead of make withdraw available; moreover from what i can read in the KB they make BTC payouts from Monday to Friday as for bank transfer...why??

[CryptoGore]

Anyone? thanks.

[Monnt]

You need to provide more information. Is your site on WordPress? If so, you could use woocommerce and use bitpay. I find them the best.

[CryptoGore]

You need to provide more information. Is your site on WordPress? If so, you could use woocommerce and use bitpay. I find them the best.

No i just want to use hosted forms or payment buttons.. I want to know if someone got experience with them and if they are doing their business right or not.

I mean i tried to make a tx with their gateway and now i see that only auto payouts executed by them are available to withdraw my balance. I never seen such thing before with an online bitcoin payment processor.

I want just to be sure that payouts are processed regularly and they aren't using my money when on hold since i see that my balance is moved from the receiving address to another big address : https://blockchain.info/address/1XFR5EJUMXDx5haP33bBpeRKZcFcibr8w 

Is this a kind of cold storage or what?

[xhomerx10]

There are some strange things about this company.

1) They have pictures of their founders and directors on their web page as well as a list of investors. Look at the pictures - not one professionally taken image!  The picture of Brock Pierce is a sketch of him and it appears to be on some sort of fiat currency note.

2) On their contact page is a heading that says "Locations" (plural) yet only one:

 Asia

  GoCoin Pte Ltd
  8 Eu Tong Sen Street
  #18-85
  Singapore, 059818

 Okay they're in Asia... but then the contact number is

  Phone: (415) 968-5306  <--- it looks to be a California (San Francisco) phone number because they didn't mention the country code 65

  it should read - Phone: 65 415 968 5306

3) If you follow a link from their main page  "Investors, we're growing quickly! Get in on the action here." but clicking here takes you to a crowd-funder 404 page.  Too busy to update?

4) Now follow the link to their terms of service... WTF?

 

MBC MERCHANT PAYMENT SERVICE AGREEMENT

Manx Broadcasting Corporation Limited, an Isle of Man corporation with offices located at 22 Athol St., Douglas, 1M1 1JA, Isle of Man, doing business as MBC, Ltd. ("MBC") offers technology and services for merchants that wish to accept payment in Bitcoin and other digital currencies...

5) they have a referral program! <--- the kicker

 
   

[CryptoGore]

There are some strange things about this company.

1) They have pictures of their founders and directors on their web page as well as a list of investors. Look at the pictures - not one professionally taken image!  The picture of Brock Pierce is a sketch of him and it appears to be on some sort of fiat currency note.

2) On their contact page is a heading that says "Locations" (plural) yet only one:

 Asia

  GoCoin Pte Ltd
  8 Eu Tong Sen Street
  #18-85
  Singapore, 059818

 Okay they're in Asia... but then the contact number is

  Phone: (415) 968-5306  <--- it looks to be a California (San Francisco) phone number because they didn't mention the country code 65

  it should read - Phone: 65 415 968 5306

3) If you follow a link from their main page  "Investors, we're growing quickly! Get in on the action here." but clicking here takes you to a crowd-funder 404 page.  Too busy to update?

4) Now follow the link to their terms of service... WTF?

 

MBC MERCHANT PAYMENT SERVICE AGREEMENT

Manx Broadcasting Corporation Limited, an Isle of Man corporation with offices located at 22 Athol St., Douglas, 1M1 1JA, Isle of Man, doing business as MBC, Ltd. ("MBC") offers technology and services for merchants that wish to accept payment in Bitcoin and other digital currencies...

5) they have a referral program! <--- the kicker

 
   

True however i haven't found any evidence of scam or anyone complaining about it.

Also the CEO appear to be him: https://www.linkedin.com/in/sbeau and all the main board directors have linkedin profiles with high level of trust..

I just would like to understand how the payouts are managed. And why my funds are moved.

[xhomerx10]

It appears from section 5.2 of the TOS that all the money first becomes theirs and then they figure it out later.

[CryptoGore]

It appears from section 5.2 of the TOS that all the money first becomes theirs and then they figure it out later.

Bad stuff, according to their volume anyway is strange that no one complains about it...
I think it is impossible even for them to suppress all the scam accusation that could arise from such behaviour so i suppose they aren't scam nor 100% legit..

will update this post as things move forward. I hope to have this solved smoothly and avoid any scam accusation against them.

[beaust]

Good morning...please direct all GoCoin support concerns to support@gocoin.com
Most likely the reason you have not received a payout is because GoCoin is waiting for your KYC / AML documentation or you have not reached the payout threshold. I'm happy to discuss one-on-one the reasons for our international structure and why we manage payouts as we do, but it would not be appropriate to do so on a public forum.

[xhomerx10]

Good morning...please direct all GoCoin support concerns to support@gocoin.com
Most likely the reason you have not received a payout is because GoCoin is waiting for your KYC / AML documentation or you have not reached the payout threshold. I'm happy to discuss one-on-one the reasons for our international structure and why we manage payouts as we do, but it would not be appropriate to do so on a public forum.

 Been lurking Steve? It's funny (strange) that you want to KYC op but you don't want him to know who you are... publicly at least.
I don't really care about the international structure of your company but I really am interested in that creepy pic of Brock.  Why?!

[CryptoGore]

Everything was solved fine. Their support managed everything ok.