Coinbase Announces 'Instant Exchange'

[littlebeetle]

https://i.imgur.com/4L6qS8g.jpg?1

Coinbase has announced today the launch of Instant Exchange, a feature that allows users to send
and receive bitcoin payments while eliminating exposure to exchange rate fluctuation.

[AtheistAKASaneBrain]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

[NattyLiteCoin]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

[Standup4]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

Haha, nice metaphor, and quite precise!

[Amph]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

[melody82]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

Yeah I am scratching my head a bit at this one.  I did use coinbase to transfer money from the bank and buy some BTC, and it took about a week for the money to get in my account from the bank.  Maybe a CC or money wire would be faster but they also have much higher fees.

[MF Doom]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

Yeah I am scratching my head a bit at this one.  I did use coinbase to transfer money from the bank and buy some BTC, and it took about a week for the money to get in my account from the bank.  Maybe a CC or money wire would be faster but they also have much higher fees.

They have a new "wallet" feature, you may have to transfer money to that FIRST, then use the "instant excahnge" feature, at least for buying.

[Argwai96]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

I never used coinbase either, no i just feel like they are becoming a corp tool in order to collect data from bitcoin users and traders, i guess mainstream users feel safe that way.

[ebliever]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

Yes, there is typically a 1 week delay for your funds to get from checking to Coinbase. I blame the fiat world for that. Credit card purchases could be done more or less instantly, I believe.

[Amph]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

Yes, there is typically a 1 week delay for your funds to get from checking to Coinbase. I blame the fiat world for that. Credit card purchases could be done more or less instantly, I believe.

this is a major strategy adopted nowadays from many business companies, first you provide a shitty service, to see how many customers you can get without spending too much, then you announce that you will provide something, which may seems revolutionary to stay competitive, but actually it isn't,

i'm disgusted by how some companies do their job

[MF Doom]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

Yes, there is typically a 1 week delay for your funds to get from checking to Coinbase. I blame the fiat world for that. Credit card purchases could be done more or less instantly, I believe.

this is a major strategy adopted nowadays from many business companies, first you provide a shitty service, to see how many customers you can get without spending too much, then you announce that you will provide something, which may seems revolutionary to stay competitive, but actually it isn't,

i'm disgusted by how some companies do their job

yet that exact philosophy has made apple & samsung 2 of the biggest companies on the planet.  I mean seriously, the new "edge" phone, the edge lights up?? Who cares!!!

[Nagle]

Instant Exchange, a feature that allows users to send and receive bitcoin payments while eliminating exposure to exchange rate fluctuation.

They were doing that already for merchant accounts. When you buy from a merchant that accepts Bitcoin through Coinbase, Coinbase, not the merchant, takes the exchange rate risk for the seconds to minutes it takes to process the transaction.

[Xialla]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

uhh, yes you are imho right. I also don't see anything new or groundbreaking here..

[Sourgummies]

Correct me if im wrong, but that basically sounds like a button that automatically sells or buys at market price?

I hope it means they determined that 5 days to get BTC is ridiculous.

basically they are solving a problem that wasn't there with other ways of buying or selling bitcoin(i've never used coinbase, so i don't know if this 5 days of waiting, is true)

Yes, there is typically a 1 week delay for your funds to get from checking to Coinbase. I blame the fiat world for that. Credit card purchases could be done more or less instantly, I believe.

this is a major strategy adopted nowadays from many business companies, first you provide a shitty service, to see how many customers you can get without spending too much, then you announce that you will provide something, which may seems revolutionary to stay competitive, but actually it isn't,

i'm disgusted by how some companies do their job

Agree or they put out a great service and slowly ask for more money or your personal info. Have seen a lot of small forum websites do that model as well once they have
a large enough database of members.

[bitnanigans]

Have they sorted out their issues with arbitrarily cancelling Bitcoin buy orders? I'm still wary of any of their services for this reason.

[MF Doom]

Have they sorted out their issues with arbitrarily cancelling Bitcoin buy orders? I'm still wary of any of their services for this reason.

I haven't had any issues like that for a long time.  I do remember when they would say they had "run out of btc" for the day to sell.  It was something about how they aquired the btc, I believe they explain it in a blog post.  I imagine that issue is gone now.

[cryptworld]

didn't they announce this some months ago?

[MF Doom]

didn't they announce this some months ago?

yeah, I think its been around for a while.

Whats new is its now available for EU coinbase users I believe

[Slark]

For me their Instant Exchange is really nothing much and nothing groundbreaking - it should be normal feature to begin with. But now CoinBase will announce it as a new ultra feature and how awesome 'instant exchange' is when in reality their service was lacking speed in the first place.

[newIndia]

By instant exchange, I understand the likes of ShapeShift.io, SimpleSwap.me or coinomat.com. It seems this one is not a variant of that.